Risk Notice

Backtests replay historical data, while paper trading uses virtual funds with simulated execution. Both depend on data, model, fee, slippage, liquidity, and configuration assumptions; neither proves how a strategy will perform live.

Live trading uses real funds in a connected exchange account or an AlphaFox-managed Hyperliquid wallet. Volatility, leverage, liquidation, funding, fees, latency, order-book depth, exchange outages, and API failures can produce losses or execution that differs from backtest and paper results.

Public rankings, ROI, profit, charts, labels, and leader activity describe recorded results, not future returns. Copy trading follows future signals only and does not backfill positions opened before you started. Your fills and results can differ from the source.

For exchange API connections, funds stay in your exchange account and orders use the access you authorize. Grant read and trade permissions only, never withdrawal; use exchange IP allowlists where supported and rotate exposed credentials.

If you choose an AlphaFox-managed Hyperliquid wallet, Turnkey provides custody and AlphaFox can submit authorized trading, transfer, and withdrawal operations. Deposits move into a Hyperliquid contract account; review the destination, network, amount, fees, wallet status, and strategy risk before funding or approving an operation.

For every connection type, review each strategy's position sizing and risk controls, protect account access, and contact support immediately if activity or credentials appear compromised.