Legal

Risk Disclosure

Effective date: July 14, 2026  ·  Last updated: July 14, 2026

Read this statement before purchasing or using any Talon Trader Funding product. It forms part of, and must be read together with, our Terms of Use.

1. Simulated environment — no real capital

Talon programs run on simulated accounts provided through third-party platform and market-data providers. Balances, positions, profits, and losses shown in any Talon program are simulated values. They do not represent real money, real assets, or a real brokerage account, and they cannot be withdrawn as such. Rewards, where earned, are separate payments made by Talon under the Payouts (Rewards) Policy.

2. Talon is not a broker or a financial institution

Talon Trader Funding LLC is not a broker-dealer, futures commission merchant, introducing broker, investment adviser, commodity trading advisor, bank, or money transmitter. Talon does not hold, custody, transmit, invest, or manage customer funds. Nothing Talon provides is an offer to buy or sell any security, futures contract, or other financial instrument, and nothing on our site or in our programs is investment advice or a recommendation.

3. Futures trading is high risk

The simulated instruments used in our programs track real futures markets, which are volatile and leveraged. Skills practiced in a simulated environment carry real financial risk if applied to a live account with your own capital. Losses in live trading can exceed deposits. If you choose to trade with real money outside of Talon, you do so entirely at your own risk and should consider whether it is suitable for your circumstances.

4. Simulated results are not predictive

Our simulated accounts run against live, real-time market data, but a simulated result is still not a real one. Simulated trading involves no real financial risk, and it cannot fully account for slippage, liquidity, partial fills, order-queue position, latency, or the psychological pressure of trading your own money. No representation is made that any account will or is likely to achieve results similar to those shown. Past or simulated performance is not indicative of future results.

5. Evaluations are demanding, and most participants do not pass

Our programs exist to find traders who can produce steady results without taking the kind of risk that eventually ends an account. The rules are built to surface that over time rather than reward a single lucky run, and to filter out the behaviour — oversized positions, revenge trading, chasing a target in one trade — that does not survive contact with real capital. That standard is deliberately demanding.

The practical consequence is that a substantial majority of participants do not complete an evaluation successfully, and of those who do, a substantial majority do not go on to receive the maximum available rewards. You should assume the fee you pay is at risk and should not pay any amount you are not prepared to lose. Talon makes no representation, promise, or guarantee that you will pass an evaluation, qualify for a reward, receive any specific amount, or earn any income.

6. No income claims

Talon does not promise or project earnings. Any figures, examples, testimonials, or results referenced anywhere on our site or in our marketing are illustrative only, reflect individual outcomes that are not typical, and are not a guarantee or prediction of your results. Your outcome depends on factors outside Talon's control, including your skill, discipline, decisions, and market conditions.

7. Program rules govern the outcome

Each account is subject to specific rules — profit targets, drawdown thresholds, contract limits, qualifying-day requirements, and conduct rules. Breaching a rule can end an account immediately and forfeit all simulated gains on it, regardless of the balance shown at the time. The rules applicable to your account are those in effect at the time of purchase for that account, and are available in our knowledge base and in the Prohibited Activities policy. It is your responsibility to read and understand them before you purchase.

8. Technology, data, and platform risk

Talon relies on third-party trading platforms, market-data feeds, connectivity providers, and hosting infrastructure. Outages, latency, disconnections, delayed or erroneous data, incorrect quotes, failed or rejected orders, and platform errors can and do occur. Talon does not guarantee uninterrupted or error-free access and is not responsible for losses, missed opportunities, failed evaluations, or simulated results arising from such events. Attempting to exploit a technical error rather than reporting it is a prohibited activity.

9. Rewards are discretionary, conditional, and capped

Rewards are not wages, profit distributions, dividends, or a share of trading revenue. They are performance-based payments made under conditions set out in the Payouts (Rewards) Policy, including minimum trading days, qualifying-day movement thresholds, balance floors, consistency requirements, per-payout caps, and a maximum number of rewards before account review. All reward requests are subject to review and approval by Talon personnel.

10. Fees are for program access, and evaluation access is time-limited

Fees paid to Talon purchase access to an evaluation or the activation of a simulated-funded account. They are not deposits, are not held on your behalf, are not segregated, and are not refundable except as described in the Refund & Billing Policy.

A T-Flight evaluation account is open for 28 calendar days from the day it is provisioned, or until it passes or fails, whichever comes first. It does not renew and cannot be extended. If you have not completed the evaluation within that window, the account closes and you would need to purchase a new one to continue. Plan to begin trading promptly after purchase.

11. Tax

Any reward you receive may be taxable income. Talon does not provide tax advice. You are solely responsible for determining and meeting your tax obligations, and Talon may be required to collect tax information and issue tax forms before a reward is paid.

12. Your acknowledgement

By purchasing or using any Talon product, you confirm that you have read and understood this statement, that you understand all trading in Talon programs is simulated, that you may lose the full amount of any fee you pay, and that you have received no guarantee of any outcome or income.