Risk
Disclosure.

TBM Funded is a skills-evaluation service — not a broker or investment platform. All trading takes place on simulated accounts. You never deposit trading capital, and no real money is ever placed in any financial market on your behalf.

The most you can ever lose is the evaluation fee you pay. There are no margin calls, no debt, and no liability to you beyond that fee — you cannot lose more than the price of your challenge.

What is at risk is the fee itself: purchasing a challenge does not guarantee you will pass, receive a funded account, or earn a payout, and the fee is generally non-refundable once you begin trading (see our Refund Policy). Do not purchase a challenge if you cannot comfortably afford to lose the fee. Past performance does not guarantee future results.

1. Simulated Capital — What This Means

All TBM Funded evaluation challenges and funded accounts operate on simulated trading environments. The account balances displayed ($5,000 to $100,000+) are notional — they represent the scale of the evaluation, not real money deposited with a broker or custodian on your behalf.

TBM Funded does not pool, invest, or trade client funds on live markets. The evaluation is a skills test. Payouts to funded traders — where made — are paid from TBM Funded's own operational funds based on simulated profit performance, not from real trading profits generated on your behalf.

This is a fundamental characteristic of the TBM Funded model. If you believed that TBM Funded was placing your fees into a real trading account on your behalf, that is a misunderstanding of the service.

2. General Trading Risk

Trading leveraged financial instruments involves, among other risks:

• Market risk — prices of currencies, commodities, indices, and other instruments can move sharply and unpredictably, including overnight and over weekends.
• Leverage risk — leveraged positions magnify both profits and losses. A 1% adverse move on a 1:100 leveraged account represents a 100% loss on the margin deployed.
• Liquidity risk — during news events, market opens, or periods of low liquidity, spreads may widen significantly and execution may differ from expected.
• Psychological risk — emotional and cognitive biases cause many traders to underperform or make irrational decisions under pressure.
• Strategy risk — a trading strategy that has worked in the past may not continue to work. Markets evolve and historical performance is not predictive.
• Technical risk — system outages, internet connectivity failures, or platform errors may prevent timely execution of trades.

3. Evaluation-Specific Risks

In the context of TBM Funded's evaluation program, be aware of the following:

• You may fail the challenge and lose the challenge fee. There is no guarantee of passing any evaluation phase.
• The challenge rules (profit targets, drawdown limits, minimum trading days) are strict. A single rule breach ends the challenge with no refund.
• During the 2-Phase Challenge evaluation, drawdown limits are static — calculated from the Day 1 opening balance, with no adjustment for profits made. 2-Phase Rapid's evaluation drawdown is trailing (end-of-day) from day one — the same mechanic used once funded. On a funded account (both products), the maximum drawdown is trailing (end-of-day): it is measured from your highest end-of-day balance, so the level moves up as your balance grows.
• Passing an evaluation does not guarantee future payouts. A funded account can be terminated at any time for rule breaches or prohibited trading.
• TBM Funded's discretion to investigate and terminate accounts for prohibited practices may affect accounts that appear profitable but have been flagged for trading pattern anomalies.

4. Not a Regulated Financial Service

TBM Funded is not a licensed financial services provider, broker, dealer, fund manager, or investment adviser. We do not hold any regulatory licence issued by the UAE Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA), or any equivalent regulator in any other jurisdiction.

The evaluation challenge is a skills-based service, not a financial product. Purchasing a challenge does not constitute participation in a collective investment scheme, managed account service, or any other regulated financial activity.

Traders are responsible for determining whether their participation in the TBM Funded program is lawful in their own jurisdiction. This is not legal advice. If you are unsure, consult a qualified legal or financial adviser in your country.

5. Not Financial or Investment Advice

Nothing published on tbmfunded.com — including the TBM Intelligence dashboards (Gold, Silver, Crude), macro data, COT positioning analysis, economic calendar, or any commentary — constitutes investment advice, a trading recommendation, or an offer to buy or sell any financial instrument.

The TBM Intelligence tools are provided for informational and educational purposes only. Any trading decisions you make based on information available on our platform are entirely your own responsibility.

6. Leverage

TBM Funded evaluation accounts offer leverage of up to 1:100. Leverage allows you to control a larger position than your account balance would otherwise permit. While this can amplify profits, it equally amplifies losses.

Example: on a $10,000 simulated account with 1:100 leverage, a 1% adverse move on a fully-leveraged position would represent a $10,000 loss — eliminating the entire account. Proper position sizing and risk management are essential. TBM Funded does not provide position sizing advice.

7. Past Performance

Any historical performance data shown on the TBM Funded platform — including leaderboard results, simulated equity curves, or any trader statistics — is provided for illustrative purposes only and does not indicate, predict, or guarantee future results.

Market conditions change. A trader or strategy that performed well in a past evaluation may perform poorly in future periods.

8. Suitability

Participation in TBM Funded's evaluation program is not suitable for everyone. You should not participate if:

• You are not financially prepared to lose the challenge fee without material hardship.
• You do not have prior experience trading leveraged financial instruments.
• You are seeking a guaranteed return or a risk-free income.
• You are under 18 years of age.
• Participation in this type of program is restricted or prohibited in your jurisdiction.

If you are a new or inexperienced trader, we recommend that you practise on a demo account and educate yourself on risk management before committing any capital.

9. Jurisdiction-Specific Notes

TBM Funded, a trading name of TBM Capital L.L.C-FZ, is incorporated and operated from the Meydan Free Zone, Dubai, UAE. Traders from India and other countries are responsible for understanding and complying with their own local laws regarding participation in foreign trading evaluation services, tax obligations on any payouts received, and any applicable foreign exchange regulations.

This is not legal or tax advice. Consult a qualified adviser in your jurisdiction.

10. Acknowledgment

By purchasing a TBM Funded evaluation challenge, you confirm that:

• You have read and understood this Risk Disclosure in full.
• You understand that all capital on TBM Funded accounts is simulated.
• You understand that TBM Funded is not a licensed financial services provider.
• You acknowledge the risks described above and accept them willingly.
• You are participating voluntarily and at your own risk.

11. Contact

Questions about this disclosure: support@tbmfunded.com

TBM Funded, a trading name of TBM Capital L.L.C-FZ · Meydan Grandstand, 6th floor, Meydan Road, Nad Al Sheba, Dubai, U.A.E. · Formation/Registration No. 2650044 · Licence No. 2650044.01