Risk Disclosure Statement

Boxcar Trading Group LLC offers a staged futures-trader program. Participants begin with a simulated evaluation and may progress to a simulated funded account where qualifying performance can earn approved payouts. Boxcar may then select participants for a separately offered live account using Boxcar company capital. Selection and timing are not guaranteed.

Evaluation and simulated funded accounts use virtual funds and market data. Boxcar does not accept a participant's money as trading capital, open a customer brokerage account for those stages, or execute simulated orders in a live market. Only an account expressly designated as live under a separate written agreement places live market orders.

The Website currently describes supported products as futures listed on CME, CBOT, COMEX, and NYMEX. Product, exchange, market-data, and platform availability may change under the applicable Program Rules.

You pay a fee for access to an evaluation. To pass, you must satisfy the applicable profit target and every drawdown, position, trading, and other rule made available for that program. A rule breach may end the evaluation or simulated funded account. Passing may be difficult, and no result is guaranteed.

Paying for multiple evaluations, retrying after a breach, or selecting a larger simulated account can increase the total fees you spend. Do not purchase an evaluation with money needed for housing, food, healthcare, taxes, education, debt payments, emergencies, or other essential expenses.

Unless Boxcar expressly identifies and substantiates a result as actual, charts, profit figures, balances, payouts, scenarios, demonstrations, and performance examples displayed by Boxcar are illustrative, simulated, or hypothetical. They are not a promise, forecast, or typical-result claim.

A disclosure on this page does not replace a disclosure placed next to a particular performance presentation. Where required, Boxcar will identify a simulated or hypothetical presentation at the point where it appears.

Futures trading is volatile, complex, leveraged, and highly speculative. In a live brokerage account, losses can occur quickly and may exceed the money initially committed. Market movements, margin calls, forced liquidation, gaps, and illiquidity can create losses that are difficult or impossible to control. Futures trading is not appropriate for everyone.

A Boxcar live-capital account creates real market exposure for Boxcar and differs materially from the simulated stages. It may be carried by a third-party broker or futures commission merchant and will have separate risk limits, liquidation rights, compensation terms, and operating rules. Losses or violations may lead to position liquidation, reduced or denied compensation, account restrictions, or termination as described in the separate agreement. Boxcar's simulated program does not make live trading safer or guarantee success in live markets.

If you also choose to trade live futures with your own capital through a personal broker, use only risk capital you can afford to lose completely and understand that broker's margin, fee, liquidation, and risk disclosures.

Active futures trading requires knowledge of the products, order types, market hours, volatility, margin, platform behavior, and risk controls. You may be competing with experienced and professional market participants. Passing a simulation does not establish that you have the experience or resources needed to trade live futures safely.

In live trading, commissions, exchange and regulatory fees, market-data charges, platform costs, bid-ask spreads, slippage, and financing or margin requirements can materially reduce results. Frequent trading can magnify those costs.

Be skeptical of claims of large, easy, or consistent profits. A testimonial, payout, account balance, or exceptional participant result may not be representative and does not predict what you or another participant will achieve.

Simulated trading may differ materially from live trading because:

• virtual orders may not reproduce queue position, partial fills, slippage, liquidity, or market impact;
• data, matching, and platform assumptions may differ from a broker or exchange;
• commissions, exchange fees, margin, financing, and operational costs may be simplified or different;
• the absence of personal trading capital can change discipline, stress, confidence, and risk-taking; and
• strategies that appear successful in simulation may fail or be impractical in live markets.

Passing an evaluation—even quickly or by a wide margin—does not establish that a strategy is repeatable, profitable, or appropriate for live use. Past performance is not necessarily indicative of future results.

The Services depend on software, devices, internet connections, market-data feeds, exchanges, trading platforms, and other providers. Systems can be unavailable, delayed, interrupted, inaccurate, or affected by maintenance, cyber incidents, high market volume, news, volatility, exchange actions, or events beyond Boxcar's control.

An order or account display may not update when expected. A connection failure or data error may prevent an intended action. Maintain your own reliable setup, monitor account status, and understand the incident and adjustment process in the Disclaimer of Liability, Refunds, and Chargeback Policy.

A simulated gain is not automatically a payout. Eligibility, amount, and timing depend on the Program Rules, a valid request, verification, and Boxcar's review. An advertised profit split—such as "up to 90%"—does not guarantee that you will generate simulated profit, qualify for a payout, or receive a particular amount.

Approved payouts are compensation paid from Boxcar's funds under the program. They are not investment returns or withdrawals from a customer trading account. Processing estimates can be affected by review, banking systems, providers, holidays, and legal requirements.

A simulated funded account is an intermediate stage in Boxcar's intended path, not a live brokerage account. Boxcar may review consistent performance, disciplined risk management, rule compliance, and other published criteria when selecting participants to trade company live capital. No participant is entitled to selection, and no payout count, profit amount, or other result guarantees a live account unless the applicable Program Rules expressly state otherwise.

A selected participant must complete any required verification and brokerage onboarding and accept a separate written agreement before placing live orders. Only then does the designated live account use Boxcar's real capital in live markets.

Website content, educational material, market information, support responses, and program features are general information—not investment, legal, tax, or financial advice and not a recommendation to enter a trade. Boxcar is not your broker, futures commission merchant, commodity trading adviser, investment adviser, or fiduciary.

No employee or representative is authorized to promise a pass, payout, profit, or successful live-trading result. A testimonial or participant result, if shown, may not represent the experience of others and does not guarantee future performance.

By purchasing an evaluation, you acknowledge that you have read and understood this Risk Disclosure Statement; that Boxcar accounts are simulated unless a separate written agreement expressly says otherwise; that passing, payouts, and selection for live capital are not guaranteed; and that you are responsible for deciding whether to accept any separately offered live-capital arrangement and its risks.