Risk warning

What the risk actually is

Forex and CFDs are traded on leverage, which means a position can be many times larger than the money behind it. A move of a fraction of a percent against a leveraged position can take a large share of an account. A move of a few percent can take all of it.

Losses are not capped at what you set out to risk. A market can gap over a stop loss — between Friday's close and Monday's open, or around a scheduled release — and fill at the first available price rather than the one you chose. Depending on your broker and jurisdiction, a position can close at a loss larger than the balance in the account.

Past results, backtests and worked examples describe what happened under one set of conditions. They do not establish what will happen under another. A strategy that has worked can stop working without warning.

What this site is

PipsMorrow is an educational site. It explains how trading works. It does not take deposits, execute orders, hold money, manage anyone's account, or act as a broker or an introducing agent for one.

Nothing here is personal advice. Nothing here accounts for your circumstances, your other commitments, or what you can afford to lose — and no page, tool or answer should be read as a recommendation to enter, hold or exit any position.

If you want advice about your own situation, that is a conversation for a licensed adviser in your jurisdiction, not for this site.

The calculators

The calculators compute what you tell them to compute. Their arithmetic is tested against fixed reference values, but a correct calculation of a bad plan is still a bad plan, and real fills differ from modelled ones: spreads widen, slippage happens, and swap and commission are charged on terms set by your broker, not by us.

The assistant

Answers from the assistant are generated by a language model. They can be wrong, out of date, or confidently mistaken about something that sounds specific. Check anything that matters against a primary source before acting on it.

It does not have live market prices and cannot see your account. Any figure it gives for a current price or level came from you or from a search result that may already be stale.

Where you are

The rules that apply to leveraged trading differ by country, and in some places offering or soliciting it is restricted or prohibited. Whether you may lawfully open an account with a given broker is a question about your jurisdiction and that broker's licensing, and it is yours to answer before you deposit anything.