MyBro margin trading

Legal / General Risk Disclosure

General Risk Disclosure

General Risk Disclosure
1. This notice provides you with information about the risks associated with CFD trading and other services provided by MyBro and available on the website: https://mybro.com/.
2. MyBro provides services in relation to a number of products through Digital Octopus LTD incorporated in Marshall Islands with Reg. No. 118968 and whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 (hereinafter - “Company”, “MyBro”, “we”, “us” or “our”)..
3. Products offered by MyBro include contracts for differences (CFDs) whose underlying assets are cryptocurrencies.
4. The trading of commodities and currencies involves a significant amount of risk. Prices vary every day. Because of such price fluctuations, you may gain or lose value of your assets at any given moment. Any commodities may be subject to large swings in value and may even become absolutely worthless. There is always an inherent risk that losses will occur as a result of buying, selling or trading anything on the market.
5. Unlike most currencies, which are supported by government reserves or other legal entities, as well as commodities such as silver and gold, cryptocurrency (a.k.a. virtual currency) is a currency, which is only backed by mathematics, technology and trust. Most of the virtual currencies are absolutely decentralized, which means there is no authority that can take corrective measures to protect its value in a crisis or issue more currency. Some of them are controlled by entities, which are not subject to government authority of any country and has its own monetary policy. Cryptocurrency trading has specific risks, which are not shared with other official currencies, goods or commodities in a market. There’s always a possibility of sudden and adverse shifts in trading and other market activities. Every time you finance a purchase or sale of virtual currencies on a peer-to-peer basis you may suffer from not being able to repay that financing.
6. Every cryptocurrency has its own features – blockchain, protocols, etc. and inherent risks which you must understand before investing in it.
7. Accordingly, cryptocurrencies should be seen as an extremely high-risk asset and you should never invest funds that you cannot afford to lose.
8. Contract For Difference (CFD), means you are not buying the underlying asset, and assumes transferring the difference between the current value of cryptocurrency and its value at the contract maturity/closure moment. The subject to the contract is an underlying asset price movement, the underlying asset itself is not being delivered as a result of the contract period. Thus, you are able to invest in an underlying asset without actual possession of it. The complexity of CFD and its excessive leverage whereby present significant risks of financial losses. If the market price moves against your expected price, you may sustain a total loss greater than the funds invested in a specific position. You are responsible for all losses on your account in respect to the assets in your account.
9. Any currency trading is susceptible to irrational or rational bubbles or absolute loss of confidence, which could collapse demand/supply. Any actions, even remotely connected to currency can crash confidence in this currency, such as unexpected changes imposed by the currency developers, a government crackdown, the creation of a superior competing Bitcoin alternative, or even a deflation or inflation spiral. Confidence might also collapse because of various technical problems: if the anonymity of the system can be compromised, funds lost or stolen, or in the event that hackers or governments become able to prevent Bitcoin transactions from settling.
10. There may be additional risks, which have not been foreseen or identified in the current Terms of Use or this General Risk Disclosure.
11. Every user has to carefully assess whether their financial situation and tolerance for risk is suitable for services provided by MyBro.
12. Before deciding to trade on margin you should carefully consider your investment objectives, level of experience, and your possibilities for risk.
13. (Our CFDs are not listed on any exchange. CFDs involve greater risk than investing in on-exchange products, as market liquidity cannot be guaranteed and it may be more difficult to liquidate an existing position.)
14. OUR CFD products are available to residents/citizens of these countries.
15. CFDs are not appropriate for a long-term investor. Holding a CFD open for a long time increases the associated costs, for instance, rollover fee, and it may be more beneficial to buy the underlying asset instead. The price of the underlying asset may suddenly change because of the sharp movements in the market known as “gapping”. It may occur when the underlying market is closed, meaning the price on the underlying market may open at a significantly different level, and at a less advantageous price for you. You have to ensure your accounts with margin while your positions are opened in accordance with Our requirements, which may change from time to time. Thereby, if asset price moves against you or if our margin requirements have changed, you may need to provide us with significant additional funds, at short notice, to maintain your open positions. If it won’t be done your positions (one or more) may be closed and You alone will be responsible for any losses incurred as a result.
16. There may be additional risks, which have not been foreseen or identified here.