Risk warning

When the service is live, you could lose some or all of the capital you deploy. Returns are never guaranteed; markets, funding rates and execution can all move against a position.

The service is provided on an “as is” and “as available” basis. We make no warranty that it will be profitable, uninterrupted, timely, secure, error-free or fit for any particular purpose. No result or outcome is promised, now or in the future.

Funding can fall, turn persistently negative, or be overwhelmed by volatility. The hedge uses leverage and can be liquidated; spreads and basis can gap; crowding can erode the edge. Market-neutral means direction-neutral — not risk-free.

The engine trades perpetual futures (crypto-derivatives): volatile, leveraged, and restricted from sale to UK retail consumers. The service is offered only to certified sophisticated or professional investors. By taking part you confirm you qualify and understand these instruments.

The paper phase is fully simulated. Hypothetical and back-tested results have inherent limitations — they are prepared with the benefit of hindsight, do not represent real trading, and may not reflect the impact of real execution, fees or liquidity. They are not a promise and not a reliable guide to future results.

Onyx is software that depends on third-party exchanges, data feeds and infrastructure. It may contain errors, be delayed or unavailable, miss a settlement, or behave unexpectedly. Automated execution can fail or produce unintended results, and we do not guarantee any level of availability or accuracy.

When live, your capital stays in your own exchange account under trade-only keys; Onyx never holds it. That does not remove venue and counterparty risk: an exchange can fail, halt, freeze withdrawals, or be hacked while your positions sit on it.

Money you deploy is not a bank deposit and is not covered by the Financial Services Compensation Scheme (FSCS). If Onyx, an exchange or a counterparty fails, you may not be compensated.

Everything on this site and in the product is general information, not a personal recommendation, and not investment, tax or legal advice. Do not rely on it; obtain your own independent professional advice before acting.

You are responsible for deciding whether the service is appropriate for you, for the security of your own credentials and exchange keys, and for ensuring your participation is lawful in the place you live and trade.

You are solely responsible for your own tax position, returns and reporting wherever you are liable. Any tax tooling we provide is for convenience only and is not tax advice.

The service is not available to sanctioned persons or to anyone in a prohibited jurisdiction. We may decline, suspend or terminate access at our discretion, including to meet legal, regulatory or compliance obligations.

To the maximum extent permitted by law, Onyx and its operators, officers, employees and partners are not liable for any loss or damage — direct or indirect — arising from use of (or inability to use) the service, market movements, third-party failures, or events beyond our reasonable control. Nothing excludes liability that cannot be excluded by law.

Nothing here is an offer, solicitation or inducement in any jurisdiction where that would be unlawful. Statements about future plans — including FCA authorisation and going live — are intentions, not guarantees, and may change without notice.

Onyx is not yet authorised by the FCAand is in pre-application. No live trading of anyone’s money takes place until an FCA green light. The paper phase is invite-only, simulated, and takes no payment.

We may update this warning as the service, its phase and its regulatory status evolve. The “last updated” date above always reflects the current version; please re-read it from time to time.