Risk Disclosure

Last Updated: July 16, 2026

Version 2.0

Version française

1. Purpose of this page

This page explains, in plain language, the risks involved in trading and the exact role of the THOR software. It is provided for information only. It does not replace the Terms of Service, which contain the contractual terms that apply between you and Phoenix Technologies SAS, including the liability regime.

This page is published in French and in English. In the event of any divergence between the two versions, the French version prevails for consumers residing in France.

2. Risk warning

Risk warning

  • Trading futures, options on futures and contracts for difference (CFDs) carries a substantial risk of loss and is not suitable for everyone.
  • Leverage amplifies losses as well as gains.
  • On some instruments, you can lose more than your initial commitment.
  • Past performance is not a reliable indicator of future results.
  • Never trade with money you cannot afford to lose.
  • Before trading, assess whether it is appropriate for you in light of your knowledge, your experience and your financial situation.

3. What THOR is and is not

THOR is a server-based trade copying software tool published by Phoenix Technologies SAS, a French company registered with the Paris Trade and Companies Register (RCS Paris 938 548 112), with its registered office at 60 rue François Ier, 75008 Paris, France.

THOR copies your orders between trading accounts that belong to you: futures prop-firm accounts connected via Rithmic, Tradovate or NinjaTrader, and CFD accounts connected via MetaTrader 4, MetaTrader 5 or cTrader. It also lets you connect your own TradingView webhook alerts to automate your own strategies on your own accounts.

What THOR is not

  • THOR does not provide investment advice, recommendations or trading signals.
  • THOR does not copy other traders' strategies: it only replicates orders between accounts belonging to the same user.
  • THOR is not a broker and holds no client funds or financial instruments.
  • Phoenix Technologies does not execute orders, whether on its own account or on behalf of clients: every order is executed by your broker or your prop firm.
  • Phoenix Technologies is a software publisher. It is not an investment services provider within the meaning of the French Monetary and Financial Code (art. L321-1 and L531-1 s.), and it is not authorised or regulated by the Autorité des marchés financiers (AMF) or the Autorité de contrôle prudentiel et de résolution (ACPR).

4. Technology risk

Like any software operating over networks, THOR depends on infrastructure and third-party platforms and services (brokers, prop firms, trading platforms, market data providers) that can fail or be interrupted. A copied order can be delayed, rejected or partially executed.

You should monitor your accounts regularly, in particular whenever positions are open. The contractual liability regime that applies between you and Phoenix Technologies is set out in the Terms of Service.

5. No guarantee of results

THOR automates the copying of your own orders between your own accounts; every order is executed by your broker or prop firm, not by Phoenix Technologies. It does not improve the quality of your trading decisions and does not reduce market risk. Using THOR provides no assurance of profit and does not prevent losses: your trading results depend on your own strategy and on market conditions, subject to the technology risks described in section 4.

6. Prop-firm accounts

Evaluation and funded accounts are governed by your prop firm's own rules (for example drawdown limits, consistency rules, restrictions around economic news, and rules on permitted tools). Some firms restrict or prohibit the use of trade copiers on some or all of their programmes.

Checking your firm's rules, and making sure your use of THOR complies with them, is your responsibility.

7. Contact

Phoenix Technologies SAS, 60 rue François Ier, 75008 Paris, France.

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