Risk Disclosure

Not a deposit · Not FDIC insured · May lose value

Please read this disclosure carefully before purchasing any Lumen Futures program. It is incorporated into our Terms & Conditions and applies to everything published on this website and to all Lumen Futures LLC ("Lumen Futures") programs and services.

No Investment Advice

Everything published by Lumen Futures is general information only. Lumen Futures is not a broker-dealer, futures commission merchant, or financial advisor; does not provide tax, legal, investment, or accounting advice; and does not accept client deposits; amounts paid to Lumen Futures are program fees, not deposits. Use of the information on this website is at your own risk, and Lumen Futures and its partners, representatives, agents, employees, and contractors assume no responsibility or liability for any use or misuse of such information. You should consult your own advisors before making financial decisions.

Nothing contained in this website constitutes investment advice, nor does it constitute the solicitation, endorsement, or recommendation of the purchase or sale of any futures or other financial product. The website content is for general information only and should not be regarded as an offer, solicitation, endorsement, or recommendation to buy or sell any futures or other financial product.

Risk of Futures Trading

Futures and derivatives trading involves substantial risk of loss and is not suitable for every investor. Futures are leveraged instruments: small market movements can produce large gains or losses, and in live markets losses are not necessarily limited to the funds in an account. It is possible to lose more than an initial outlay and remain responsible for the deficiency. Carefully consider whether trading is appropriate for you in light of your experience, objectives, financial resources, and personal circumstances. Only risk capital, meaning money that can be lost without jeopardizing your financial security or lifestyle, should be used for trading, and only a portion of that capital should ever support a single trade, because you cannot expect to profit on every trade. The past performance of any trader, program, strategy, or financial product is not indicative of future results.

The Honest Odds

It is extremely difficult to succeed at trading over the long term. Academic research on retail day trading (for example, the University of California study Do Day Traders Rationally Learn About Their Ability?) finds that the majority of traders lose money. We are not telling you this to discourage you. We built an evaluation model precisely so that you can prove your process in a simulated environment, where a substantial portion of live-market risk is mitigated because your own capital is not in the market. But no environment removes risk from trading itself, and no program changes the odds: most people who attempt this will fail. Trade like that statistic includes you until you have proven otherwise.

Rules We'd Give Any Trader

Whether you trade with us or anywhere else, and especially in any live trading environment:

• Never risk more than you are willing to lose.
• Short-term trading can be extremely risky and losses can happen fast. No matter how confident you are in your strategy or system, losses can and do happen. Always be prepared for that possibility.
• Never fund short-term or leveraged trading with retirement accounts, student loan proceeds, second mortgages, emergency funds, or money set aside for education, home ownership, or living expenses.
• Never place a trade in a live trading environment unless you fully understand and accept all of the risks that come with it.
• Know when to stop. Stepping away is a trading skill, not a failure.

Types of Trading Risk

• Leverage risk. Futures involve leverage: small market movements have a large impact on results, in both directions.
• Market risk.Futures markets can be volatile and price movements unpredictable; rapid shifts can produce losses that exceed an account's balance in live trading.
• Liquidity risk. Some markets may lack sufficient liquidity to execute trades at desired prices, which can produce significant losses or an inability to close positions.
• Execution risk. In fast-moving markets, order execution may be delayed and fill prices may differ from quoted prices.
• System risk. Trading through an electronic platform is subject to risks associated with system performance, including network issues, platform malfunctions, and outages. System response and account access times may vary with trading volumes, market conditions, and other factors.

Nature of Our Programs

Lumen Futures provides access to evaluation programs and funded trading programs conducted in simulated trading environments that use live market data. Participation is subject to program rules published on this website and in our Terms & Conditions, and program pricing and availability are subject to change without notice. Passing an evaluation does not guarantee any level of income or trading success, and program payouts depend on compliance with program rules. All trading decisions within our programs are made solely by the individual participant. Trading activity is subject to review, and accounts involved in prohibited conduct as defined in our rules may be restarted, suspended, or closed.

Hypothetical and Simulated Performance (CFTC Rule 4.41)

Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, because the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. Simulated trading does not involve financial risk, and no simulated trading record can completely account for the impact of financial risk in actual trading, for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points that can adversely affect actual trading results. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.

Permitted Instruments

Participants in Lumen Futures programs are authorized to trade futures products listed on CME, COMEX, NYMEX, and CBOT exclusively. Trading in stocks, options, forex, spot cryptocurrency, and CFDs is outside the scope of our programs and is not available on our platforms. You should be aware that the National Futures Association (NFA) does not have regulatory oversight authority over underlying or spot virtual currency products or transactions, or over virtual currency exchanges, custodians, or markets.

The current list of contracts available in our programs is published on our instruments page.

Market Data

Market data and similar information are provided by third-party providers. Lumen Futures does not prepare, edit, endorse, or guarantee the accuracy or reliability of third-party market data and shall not be liable for any loss or damage arising from errors, inaccuracies, or omissions in such data.

Testimonials

Any testimonials or trader results that may appear on this site or in our community reflect individual experiences, may not be representative of other participants, and are not a guarantee of future performance or success. Decisions made on the basis of such content are the sole responsibility of the individual.

Our Commitment to Traders

We built Lumen Futures so traders can develop and prove a process without putting their own capital in the market. But we know trading has highs and lows, and that most who attempt it will not succeed. We would rather lose a customer than watch someone trade past the point where it is right for them. If trading stops being appropriate for you, financially or otherwise, stop. If anything in this disclosure is unclear, contact us at support@lumenfutures.com before purchasing a program. We would rather answer questions up front than have you trade under terms you didn't understand.

Lumen Futures LLC, a Texas limited liability company.
2401 Fountain View Dr, Ste 464 # 2794, Houston, TX 77057