Provisional version, under legal reviewThis text is a draft published for transparency and may change before the public launch. Highlighted fields are still to be completed. If the language versions differ, the [PREVAILING LANGUAGE — TO BE DECIDED] version prevails.

Risk Disclosure

Version 0.1 · Last updated September 19, 2026

Before activating copying, read this disclosure in full. Relay is a technical auto-execution tool activated by you: it does not manage funds for third parties, does not provide personalised financial advice and promises no profit.

1. You can lose all your capital

Trading cryptocurrencies and derivatives carries a high risk of loss and is not suitable for everyone. Prices can move very fast and very far, even within minutes. You can lose all the capital you allocate to copying.

Only invest capital you can afford to lose without consequences for your life and your commitments.

2. Leverage and liquidation

The strategy may trade perpetual contracts with leverage. Leverage amplifies gains and, in the same way, losses. If the margin is not enough, the exchange can liquidate the position.

Depending on how your exchange account is set up (for example with margin shared across positions, or "cross"), a loss can hit the whole account balance and not only the part you allocated to copying. Relay's rules on maximum leverage and maximum loss reduce this risk but do not remove it: in sudden moves the price can go past the limits before an order is filled.

3. Past results do not guarantee future ones

The historical returns, charts and examples shown refer to the strategy's operation on a source account, or are illustrative. They are not a forecast or a guarantee. A strategy that made money in the past can lose money in the future, even for long periods.

4. Your account will not match the source

Results on your account can differ from the source, even significantly, because of:

  • different capital and rounding to the exchange's minimum sizes;
  • when you activate: if you join after a good period, you may go through the bad period that follows;
  • execution price and timing, slippage and liquidity;
  • exchange trading fees and funding;
  • trades skipped because they are too small, arrived late, the price had already moved, or they were blocked by the limits you set;
  • partial fills and realignment corrections.

5. Technical risks

The service depends on software, servers, networks and exchange interfaces. Delays, errors, outages or failures, ours or third parties', can make an order arrive late, be skipped or be filled at a worse price.

In emergencies we may stop new openings or close the positions managed by Relay: closing at an unfavourable market moment can lock in a loss.

If the API key is revoked, expires or loses its permissions, copying stops and open positions remain on your account, no longer managed by Relay. From that moment you have to manage them yourself.

6. Exchange risk

Your funds are on the exchange, not with us. Relay has no control over the exchange and does not protect the funds held there. An exchange can suffer hacks, account freezes, insolvency, suspended withdrawals, rule changes or the delisting of a contract.

7. Strategy risk

The source strategy can stop working, go through long losing periods (drawdowns), be changed or be paused. It trades a limited number of crypto pairs that are often highly correlated: when the market falls together, losses can add up.

8. Key risk

Even though the key is encrypted, has trading permission only and works only from our server IPs, a compromised key could be used to open unwanted trades. If you see trades you do not recognise, revoke the key on your exchange immediately and write to us at support@relayalgo.com.

9. Costs

The performance fee and any subscription of the portfolio reduce your net result. A subscription, where included, is payable even in losing months. Exchange fees come on top and do not depend on us.

10. Legal and tax risks

Rules on cryptocurrencies, derivatives and automated trading services change and differ from country to country. New rules may restrict or prevent the use of Relay or of an exchange in your country. Taxes on your gains are your responsibility: if in doubt, ask a tax adviser.

11. What you can do to protect yourself

  • Start with a small amount and increase it only once you understand how copying behaves.
  • Set daily and total loss limits that suit you, and a prudent maximum leverage.
  • Consider using an account or sub-account dedicated to copying only.
  • Keep two-factor authentication on, both on Relay and on your exchange.
  • Check your account regularly: you can pause or stop everything at any time.
  • If you are not sure this kind of investment is right for you, ask an independent adviser before you start.