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Risk Disclosure Statement

1. Important Notice

This “Investment and Trading Risk Disclosure Statement” is intended to help users understand the key risks associated with using ATLAS’s trading and investment features.
Trading in financial markets involves risk. The market value of securities, digital assets, derivatives, and other financial products may rise or fall.
Users may lose a portion or even all of their invested capital.
Past performance, historical yields, simulated trading results, trader rankings, AI analysis results, quantitative models, and market forecasts do not guarantee future performance.
Before engaging in any trade, users should independently assess whether a product is suitable for them based on their:
financial situation, investment objectives, trading experience, risk tolerance, and applicable laws in their jurisdiction.

2. General Market Risk

The prices of stocks, digital assets, and other financial products may be influenced by various factors, including:
market supply and demand;
corporate operating conditions;
financial reports;
interest rate changes;
inflation;
exchange rates;
government policies;
regulatory changes;
international political and economic events;
market sentiment;
breaking news;
natural disasters;
technical failures;
other unpredictable events.

Market prices can fluctuate drastically within a short period.
Users should not assume that any asset will consistently rise in value or remain stable.

3. Market Price Risk

This is a point that the ATLAS trading system needs to specifically highlight to users.
The platform may display:
Last Price (most recent transaction price)
Bid (current buyer quote)
Ask (current seller quote)
Bid Size (buyer volume)
Ask Size (seller volume)
Trading volume
Candlestick charts and historical prices
These prices carry different meanings.
예를 들어:
Last Price: $10.00
Bid: $9.90
Ask: $10.20
A price of $10.00 merely indicates that the most recent transaction occurred near that level; it does not mean a user can currently buy or sell at $10.00.
따라서:
The latest transaction price displayed on the platform does not constitute a guarantee of an executable price.
The actual transaction price for the user is determined by the final order execution result.

4. Risks Related to Market Data Latency and Sources

ATLAS may obtain market data through third-party exchanges, brokers, market data service providers, or other data vendors.
Factors that may affect this include:
Network latency;
Market data provider issues;
WebSocket connection interruptions;
API service anomalies;
Data transmission failures;
Exchange market data outages;
User network issues;
Market data access permissions;
System maintenance;
Consequently, market data may exhibit:
Latency, temporary suspension of updates, missing data, or display anomalies.
For example, if a stock’s last traded price yesterday was $25.00,
and current market data fails to update, that price might persist as the historical last traded price.
This does not imply that:
A trade can still be executed at $25.00 today.
Therefore, the ATLAS trading system should distinguish between displayed market data and actual order execution data.

5. Stale Quote Risks

For low-liquidity securities, the “Last Price” may remain unchanged for extended periods.
예를 들어:
Last Trade: 10:05
Last Price: $5.20
Current Time: 11:30
This may simply indicate that:
No new trades have occurred since 10:05.
An unchanged price does not necessarily mean the security is:
Suspended, delisted, or untradable.
Similarly, the fact that the last traded price is $5.20 does not guarantee the current availability of a counterparty willing to trade at $5.20.
ATLAS should make assessments based on a combination of actual market data timestamps, security status, market status, and executable quotes.

6. Bid/Ask Risks

Stock trading typically involves quotes from both buyers and sellers.
예를 들어:
Bid: $20.00
Ask: $20.50
This implies that in the current market:
The highest buyer quote is approximately $20.00;
The lowest seller quote is approximately $20.50.
The difference between the two:
$20.50 – $20.00 = $0.50
is known as the:
Bid-Ask Spread.
Securities with lower liquidity may exhibit wider bid-ask spreads. Therefore, after purchasing, a user may immediately see an unrealized loss, even if there has been no significant change in the market.

7. Liquidity Risk

The fact that a security is actively trading does not guarantee that a user’s order will be executed.
This is a crucial risk for users to understand.
예를 들어:
Stock Status: ACTIVE
Market Status: OPEN

Bid: —
Ask: —
This may indicate that the security remains listed, but there are currently no immediately executable buy or sell quotes.
Users can submit orders that comply with market rules, but:
If there is no counterparty available to match the order, the order may not execute.
따라서:
Tradability ≠ Guaranteed execution.

8. Risks Associated with Low-Liquidity Stocks

Stocks of certain small-cap companies, OTC securities, or stocks with low trading activity may exhibit the following characteristics:
No trades occurring for several minutes or longer;
Low volume of buy and sell orders;
Wide bid-ask spreads;
Extremely low trading volume;
Significant slippage on market orders;
Inability to execute large orders in a single transaction;
High price volatility.
Users should exercise particular caution when trading such securities.

9. Partial Execution Risk

Orders are not necessarily executed in full in a single transaction.
For example, consider the following market sell orders:
$10.00 100 shares
$10.10 200 shares
$10.30 300 shares
A user wishes to buy 1,000 shares.
If there is insufficient sell-side liquidity in the market, only a portion of the order may be executed.
Consequently, the order status might show:
Partially Filled
The remaining portion may continue to await execution, be cancelled by the user, or expire according to order rules.

10. Slippage Risk

During periods of rapid market fluctuation or insufficient liquidity, the final execution price may differ from the price seen when the order was submitted.
For example, a user sees: Ask: $10.00
But the market only offers: $10.00 × 100 shares
If the user places a market order to buy 2,000 shares:
The remainder of the order may be executed at higher prices, such as:
$10.10
$10.30
$10.50
…etc.
This phenomenon is known as:
Slippage. The risk of slippage is generally more pronounced when order sizes are large and market depth is low.

11. Market Order Risks

The primary objective of a market order is usually:
To execute as quickly as possible based on currently available market conditions.
It does not guarantee a specific execution price.
During periods of rapid market movement or insufficient liquidity, a market order may execute at a price significantly different from the user’s expectations.
For securities with extremely low liquidity, if no valid, executable quotes exist, a market order may fail to execute immediately or be subject to trading system restrictions.

12. Limit Order Risks

Limit orders allow users to specify the maximum purchase price or minimum sale price they are willing to accept.
예를 들어:
Limit Buy: $10.00
If the current lowest ask price is: Ask $10.50
The order will typically not execute immediately.
따라서:
Limit orders offer price control but do not guarantee execution.
Even if the market price briefly touches the user’s limit price, execution may still fail due to order priority, market depth, or other trading conditions.

13. Large Order Risks

Users should pay special attention to market depth when submitting large orders.
For example, if the market only shows: Ask $20.00 × 500 shares
A user cannot assume that:
An order to buy 50,000 shares
Will all execute at $20.00.
Large orders may:
Result in partial fills, span multiple price levels, incur significant slippage, or experience long delays before execution.

14. Trading Suspension Risks

Securities may be temporarily suspended from trading due to:
Major news, corporate announcements, abnormal price volatility, regulatory investigations, exchange decisions, or other reasons.
During the suspension:
Users may be unable to open new positions, close existing positions, or execute pending orders.
Upon the resumption of trading, the security’s price may differ significantly from the price prior to the suspension.

15. Delisting Risks

Securities may be delisted from major exchanges due to:
Failure to meet the exchange’s continued listing requirements;
Corporate bankruptcy;
Mergers and acquisitions;
Privatization;
Regulatory reasons;
Voluntary application by the company;
Other corporate actions.
Following delisting, the security may:
Cease trading, move to an OTC market, convert into another security, undergo cash settlement, or be handled in accordance with the relevant corporate action. Users may be unable to sell securities at the pre-delisting price.

16. OTC Securities Risks

OTC securities often exhibit:
Lower liquidity, wider bid-ask spreads, lower information transparency, and higher price volatility.
When a stock is delisted from Nasdaq or NYSE and continues trading on the OTC market, it does not imply that:
Liquidity, trading conditions, or market prices remain the same as on the original exchange.
Users should fully understand the specific risks associated with the OTC market.

17. Pre-market and After-hours Trading Risks

Pre-market and after-hours markets may exist outside of standard U.S. stock trading hours.
Extended-hours trading often involves:
Lower liquidity;
Wider bid-ask spreads;
Fewer participants;
Higher price volatility;
Differences in market data sources;
Reduced opportunities for execution.
Consequently, for the same stock, there may be:
Significant differences in price and market depth across pre-market, standard trading, and after-hours sessions.

18. Price Discrepancy Risks Across Platforms

Different trading platforms may utilize different:
Market data providers;
Trading venue data;
Real-time vs. delayed quote permissions;
Sources for “Last Price”;
Sources for bid/ask quotes;
Data aggregation mechanisms;
Update timings.
Therefore, the price displayed for the same stock may vary across different platforms.
Such discrepancies do not necessarily indicate data errors on any specific platform.

19. Order Execution Risks

After a user submits an order, it may progress through stages such as:
Submitted → Accepted → Pending → Partially Filled → Filled
Alternatively, it may result in:
Submitted → Rejected
Or:
Submitted → Cancelled
Successful order submission does not guarantee a successful trade execution.
The final execution status, quantity, and price are determined by the actual execution records.

20. IPO Investment Risks

IPO subscriptions entail specific risks.
Submitting an IPO subscription:
Does not guarantee an allocation.
Final allocation may be influenced by:
Offering size, market demand, subscription volume, underwriting arrangements, and other factors.
Users may:
Receive a full allocation, a partial allocation, or no allocation at all.
Post-listing prices may:
Rise, fall, or experience significant volatility.
Platforms must not promise guaranteed profits following an IPO listing.

21. Digital Asset Risks

Digital assets are subject to high price volatility.
Prices may undergo significant fluctuations within a short period. Additional risks may include:
Blockchain network risks;
Wallet risks;
Private key risks;
Smart contract risks;
Network congestion;
Block confirmation delays;
Forking risks;
Regulatory change risks.
Digital asset trading is not suitable for all users.

22. Digital Asset Transfer Risks

When depositing or withdrawing digital assets, users should carefully verify:
Asset → Network → Address → Memo/Tag (if applicable)
예를 들어:
ERC20, TRC20, and BEP20
belong to different network systems.
Selecting the wrong address or network may result in assets failing to arrive or even being permanently lost.

23. Contract and Leverage Risks

Contracts and other leveraged products carry high risks.
예를 들어:
Principal: $10,000
Leverage: 10x

Notional position value: $100,000
Small fluctuations in market price can significantly impact the user’s principal.
Leverage: Amplifies both profits and losses.

24. Forced Liquidation Risks

If the margin in a user’s account falls below the maintenance margin requirement, the relevant position(s) may be subject to forced liquidation.
In rapidly changing market conditions:
The actual forced liquidation price may differ from the user’s expectations.
In extreme market conditions, actual losses can escalate rapidly.
Users should fully understand margin and forced liquidation rules before using leveraged products.

25. Fee Risks

Trading may incur various fees, such as:
Stock trading-related fees;
Contract trading fees;
Market data fees;
Network fees;
Third-party fees;
Other applicable fees required by law.
For products where fees are charged on both sides of the trade:
Opening a position → Fees may be incurred
Closing a position → Fees may be incurred again
Therefore, users should factor in these fees when assessing trading profit or loss.

26. Copy Trading Risks

ATLAS may allow users to follow the trading strategies of other traders.
However:
A trader’s historical profitability does not guarantee future profitability. Due to factors such as:
network latency;
differences in user account balances;
variations in copy-trading ratios;
market liquidity;
slippage;
time lags in order placement; and
position limits;
the final execution results for copy-trading users may differ from those of the lead trader.

27. AI and Quantitative Trading Risks

ATLAS may provide:
AI market analysis, quantitative strategies, trading signals, technical indicators, market forecasts, and other auxiliary functions.
Any AI or algorithmic model may:
make erroneous judgments, be affected by anomalous data, or fail to predict sudden market events.
따라서:
AI analysis results do not constitute a guarantee of profits or trading outcomes.
Users should not rely solely on AI signals for investment decisions.

29. Third-Party Service Risks

Certain ATLAS services may rely on:
brokers, exchanges, clearing houses, banks, custodians, payment service providers, market data vendors, and other third parties.
System failures, business interruptions, rule changes, or other anomalies
occurring at these third parties may affect ATLAS’s related services.

30. Regulatory and Legal Risks

Laws and regulations concerning financial markets and digital assets are subject to change.
Different countries and regions may adopt
varying regulatory regimes regarding stocks, digital assets, derivatives, OTC products, and other financial instruments.
Changes in relevant laws may result in:
the discontinuation of certain products;
changes in user eligibility;
trading restrictions;
requirements for additional identity verification; or
changes in how assets are handled.

31. Tax Risks

Different tax rules may apply in various countries and regions regarding investment income, capital gains, digital assets, and other trading activities.
Users are responsible for understanding and fulfilling their applicable tax obligations. Unless relevant professional services are explicitly provided in accordance with the law:
Account data, transaction records, or general tax information provided by ATLAS do not constitute tax advice tailored to the user’s personal circumstances.

32. Past Performance Does Not Guarantee Future Results

Information displayed on the platform—including:
historical returns;
historical transactions;
performance curves;
trader rankings;
simulated backtesting;
AI predictions; and
historical win rates—
reflects only relevant historical data or model results. Past performance does not guarantee future results.

33. User Responsibility for Risk Management

Users should reasonably manage the following based on their own circumstances:
investment amounts, position sizes, order quantities, leverage ratios, and maximum tolerable losses.
Users should not invest funds they cannot afford to lose.

34. High-Risk Product Confirmation

For contracts, leveraged products, OTC trades, certain digital assets, or other high-risk products, ATLAS may require users to complete the following steps before initial use:
reading risk disclosures → risk knowledge test → risk tolerance assessment → user confirmation → activation of relevant functions.
The specific process shall be established in accordance with applicable laws and actual product requirements.

35. No Guarantee of Returns

ATLAS shall not promise users:
fixed returns, risk-free returns, guaranteed profits, guaranteed IPO price increases, guaranteed successful trades, or any specific investment outcome.
Personal promises made by any staff member, trader, or third party that are inconsistent with official platform rules shall not be deemed official guarantees by the platform; the specific legal effect is subject to applicable laws and actual authorization relationships.

36. Risk Disclosure Confirmation

By using ATLAS’s trading services, the user confirms having had the opportunity to read the relevant risk disclosures and understands that:
Trading in financial markets carries the risk of loss of principal.
A security being in a normal trading state does not guarantee that an order can be executed.
The “Last Price” does not guarantee the current availability of an executable quote at that same price.
Low-liquidity securities may go without trades for extended periods; however, a “lack of trading for an extended period” does not in itself mean the security has been suspended or delisted.
Actual execution prices, quantities, and times depend on real market conditions and actual execution results.
Leveraged products can significantly amplify losses.
Users should decide whether to participate in trading only after fully understanding the relevant products and risks.