Risk Disclosure

Trading financial instruments — including foreign exchange, indices, commodities, cryptocurrencies and derivatives — is speculative and involves a high level of risk. Prices can move quickly and unexpectedly. Losses can accumulate rapidly, especially when leverage is used.

PandaFunding evaluation and funded accounts operate on simulated (demo) capital. No real orders are sent to any live broker, exchange or clearing corporation, and no real money is at risk on your trading account. Only the challenge fee you pay is a real transaction.

PandaFunding is a skill-assessment platform. It is not a broker-dealer, investment adviser, futures commission merchant, commodity pool operator, mutual fund, or any other entity registered with the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), or the Commodity Futures Trading Commission (CFTC). We do not accept deposits, do not offer securities, derivatives or crypto investment products, and do not pool participant funds for trading.

Simulated performance may differ from live-market performance because real trading includes slippage, spread widening, requotes, execution delays and liquidity gaps that a demo environment cannot fully reproduce.

PandaFunding does not provide personal financial, tax, legal or investment advice. Nothing on our website, in emails, in the dashboard, or from our support team should be treated as a recommendation to buy or sell any financial instrument. All trading decisions on your simulated account are yours alone. Participants are responsible for reporting any reward payouts as income under applicable U.S. federal, state, and local tax laws (or the tax laws of their country of residence).

Any performance figures, leaderboard positions, testimonials or payout announcements represent individual results at a point in time. They are not typical and do not guarantee that you will achieve similar results.

You should only purchase a challenge if you fully understand how the rules work and can comfortably afford to lose the challenge fee. Do not use money that is set aside for essentials such as rent, food, healthcare or debt repayment.

Trading can be emotionally demanding. Chasing losses, overtrading and revenge trading commonly lead to rule breaches. If trading is affecting your wellbeing, please take a break and, if needed, seek professional support.

Internet connections, trading platforms and third-party services can fail. While we work to keep the platform stable, we cannot guarantee uninterrupted access. You are responsible for using appropriate stop-loss and risk-management tools on your accounts.

If any part of this disclosure is unclear, please contact us before purchasing a challenge: our Support Center.