Order Dynamics Markets — Risk Disclosure

Version: risk-disclosure-v1
Effective from: 2026-11-01
Binding language: English. Any translation is provided for convenience only.

1. Read this before you connect an account or subscribe

This document describes the risks of running strategy bundles in your own Alpaca account through Order Dynamics Markets. It is not exhaustive. It cannot describe every risk of every instrument in every market condition.

**Trading financial instruments carries a high risk of loss and is not suitable for everyone.** Only trade with money you can afford to lose entirely without affecting your standard of living or your ability to meet your obligations.

If you do not understand a risk described here, do not run a strategy until you do — and consider taking independent advice from someone licensed to give it.

2. We do not advise you, and we do not know your situation

Order Dynamics Markets is a technology platform. Every signal of a strategy goes to every subscriber of that strategy, unchanged. The assistant explains bundles; it does not assess you.

We do not know your income, your assets, your other positions, your tax position, your experience or your objectives, and we do not take them into account. Nothing we publish is a recommendation that a particular bundle or trade is suitable for you. Assessing suitability is your responsibility alone.

3. You can lose your entire investment

You may lose all of the capital you commit. Where your Alpaca account permits trading on margin or short selling, you may lose more than you deposited and may owe Alpaca additional funds.

There is no protection against loss, no guaranteed return, no capital guarantee and no stop that is certain to be honoured.

4. Market risk

Volatility. Prices can move sharply and without warning, including against an open position.
Gaps. Markets close and reopen. A price can jump over an intended exit level, so an order intended to limit a loss may execute far worse than expected, or not at all.
Events. Earnings, macroeconomic releases, regulatory action, geopolitical shocks and trading halts can move prices violently and suspend trading entirely.
Overnight and weekend exposure. Positions held when a market is closed cannot be adjusted.

5. Liquidity risk

Some instruments trade thinly. In stressed conditions, spreads widen and depth disappears. You may be unable to close a position at a reasonable price, or at all. The price you see is not a promise of the price you will get.

6. Leverage, margin and short selling

If your account uses margin, losses are magnified in the same proportion as gains. A move against you can trigger a margin call or a forced liquidation by Alpaca, at a time and price not of your choosing.

Short positions carry theoretically unlimited loss, because there is no upper bound on a price. They can also be closed against your will if the borrow is recalled, and may incur borrowing costs that change without notice.

7. Currency risk

Alpaca accounts and the instruments traded through Order Dynamics Markets are denominated in US dollars. If you think in another currency, your result depends on the exchange rate as well as on the instruments.

8. Past performance and backtests

Past performance does not indicate future results.

Track records on the Platform may include hypothetical or backtested results. They are labelled as such. Backtests have inherent limitations that live trading does not share:

they are constructed with the benefit of hindsight, on data known after the fact;
they may not reflect the spreads, slippage, fees, borrowing costs, taxes or liquidity constraints that a live account faces;
they assume every signal was acted upon, immediately and in full, which no real account achieves;
a strategy can be refined until it fits its own test period, and then fail on data it has never seen.

Live results reflect specific accounts over specific periods under specific conditions. Yours will differ — not least because your position sizes, your release decisions and your start date differ.

9. Strategy and provider risk

Strategies come from different providers: from us and from independent third parties. A strategy encodes assumptions about how markets behave. When market behaviour changes, it can keep producing confident signals that are systematically wrong, for an extended period before this becomes apparent.

A provider can make errors in its data, its logic or the signals it sends. A provider can stop delivering signals, and a strategy can be paused or withdrawn — possibly while you hold positions it opened. We review providers and strategies, but a review cannot rule this out.

10. Execution risk

A signal is not a trade. Between a provider issuing a signal and Alpaca filling an order, any of the following can happen:

the price moves (slippage), so your entry or exit differs from the reference price in the signal;
your order fills only partially, leaving you with a position of a size you did not intend;
Alpaca rejects the order — for insufficient funds, restricted instruments, market state, or its own risk limits;
the order is delayed, or expires because the signal's validity ended before you released it.

We do not control Alpaca, and we do not guarantee that any order is placed, filled, or filled at any particular price.

11. Technology risk

The Platform, Alpaca's systems, the providers' systems, market data sources and the internet can all fail, individually or together.

If the Platform cannot reach Alpaca, or your API key is revoked or invalid, orders are not placed. A position you expect to be opened or closed may not be.
Software, including ours, may contain defects.
Outages can occur precisely when markets are moving fastest.

Do not rely on the Platform as the only mechanism protecting an open position. Monitor your account independently at Alpaca.

12. Position sizing

We calculate order quantities from the percentage you choose and the account value Alpaca reports. That figure can change between sizing and execution, and rounding can make a position larger or smaller than intended.

**A sizing input you set once keeps applying to every future order until you change it.** Several strategies running at the same time can together commit much more of your account than any one of them suggests.

13. Automatic mode — additional risks

If you switch a strategy to automatic mode, its orders are sent to Alpaca without you reviewing each one. This adds risks that approval mode does not have:

an erroneous signal is acted on before you can see it;
a series of signals can open more positions, faster, than you intended;
a fault in a strategy, in the Platform or in the connection can produce unintended orders in several accounts at once;
you may be away, asleep or offline while positions are opened or closed.

Automatic mode is opt-in, set per strategy, and can be switched off at any time. It does not make us responsible for your orders. Every order remains yours.

You should not switch a strategy to automatic mode unless you have followed it in approval mode long enough to know how it behaves, and unless you can monitor the account.

14. Your other positions

Order Dynamics Markets closes only positions it opened for a strategy and leaves all others alone. If you trade the same instruments yourself in the same account, the combined position can differ from what either of you intended, and our exits apply only to the part we opened.

15. Concentration

Strategies in a bundle, and bundles from one provider, may correlate more strongly than they appear to — particularly in a market-wide selloff, when correlations tend towards one.

16. Costs and taxes

Commissions, spreads, regulatory fees, financing and currency conversion reduce your return and are not reflected in the signals. Tax treatment depends on your personal circumstances and on the law where you live, and can change. We do not give tax advice.

17. Your responsibility

By acknowledging this disclosure you confirm that you understand the risks described here, that you are trading your own account on your own decisions, and that any loss is yours.

This disclosure is issued by Order Dynamics GmbH, Geschwister-Scholl-Strasse 109, 20251 Hamburg, Germany, trading as Order Dynamics Markets.

Contact: legal@orderdynamics.io