Risk disclosure statement

[PLACEHOLDER: This document has not been reviewed by a lawyer. Have counsel familiar with Indian financial services regulation review and complete it before launch.]

The general position

Every service described on this site can lose you money. Some of them can lose you more than you invested. Nothing on this site, in any calculator, in any article or in any conversation with our staff is a guarantee of return.

Past performance, whether ours, a market's or a strategy's, does not indicate future results. Figures produced by the calculators on this site are scenarios under assumptions you selected. They are not forecasts and not offers.

Crypto assets

Crypto assets are unregulated in India. There is no licensing regime for crypto investment services, no deposit insurance, no investor protection fund and no regulatory mechanism to recover your assets if an exchange, custodian, counterparty or the firm itself fails.

Specific risks include:

• Price volatility severe enough that a fall of more than half the value of a holding is a normal event rather than an extreme one.
• Total and permanent loss through exchange failure, custodian failure, protocol failure, lost keys or theft.
• Regulatory change at short notice, potentially restricting your ability to trade, transfer or withdraw.
• Taxation at 30% plus applicable surcharge and cess on gains from virtual digital assets, with no set-off of losses against other income, no carry-forward of losses, and 1% TDS on transfers under Section 194S of the Income-tax Act, 1961.

Crypto mining

Mining returns depend on the coin price, the network difficulty and the electricity tariff. None of these is under your control or ours, and all three can move against you at the same time.

• Network difficulty has risen over the long term. The same hardware therefore produces fewer coins every month even if the coin price does not change.
• Bitcoin's block reward halves approximately every four years, cutting mining revenue per unit of work in half at a stroke.
• Mining hardware is a depreciating industrial asset with a limited productive life and a thin resale market. It can become permanently uneconomic to run before it has recovered its purchase cost.
• Facility downtime, power interruption, cooling failure, hardware fault and local regulatory change all directly reduce output.

Any payback period or return figure shown anywhere on this site is a scenario under stated assumptions. It is not a projection and not a promise.

Derivatives, leverage and short-term trading

Exchange-traded derivatives, including MCX commodity futures and equity index and stock futures and options, are leveraged instruments. Losses on a leveraged position can exceed the margin you have deposited, and a shortfall triggers a margin call requiring further funds at short notice.

SEBI studies have repeatedly found that the large majority of individual traders in the equity derivatives segment make net losses over a financial year. You should assume you are in that majority unless you have specific evidence to the contrary.

High trade frequency compounds costs. Brokerage, exchange transaction charges, STT, GST, stamp duty and slippage can turn a strategy that is profitable before costs into one that loses money after them.

Hedging

A hedge is a position taken specifically to lose money when the rest of your portfolio gains, in exchange for limiting losses when it falls. Hedging reduces upside as reliably as it reduces downside. An imperfect hedge can lose on both legs at once.

Gold

• The gold price falls as well as rises, and has spent multi-year periods below an earlier peak. Gold produces no income of its own.
• MCX gold futures are leveraged and expire. Holding a position across expiries requires rolling, which carries a recurring cost.
• Sovereign Gold Bonds have an eight-year tenor with early redemption available only from the fifth year. Exiting earlier means the secondary market, where liquidity can be thin and the price may be below fair value.
• Physical gold carries making charges, storage cost, insurance cost, a buy-sell spread, and the risk of loss or theft.
• Indian gold prices also reflect the rupee-dollar exchange rate and import duty, so the local price can move independently of the international price.

Portfolio management

Diversification reduces the impact of any single market but does not prevent loss. Correlations between asset classes tend to rise during a crisis, which is precisely when diversification is most needed. Asset allocation does not guarantee a profit or protect against loss in a declining market.

Concentration and suitability

No service on this site is suitable for money you will need at short notice, money you cannot afford to lose, or borrowed money. Speculative allocations should be funded only from a portion of your portfolio you could lose in full without it changing your plans.

Our regulatory status

[PLACEHOLDER: State PortfolioHub's exact regulatory status here and what it means for you. Specify whether the firm is registered with SEBI as a Portfolio Manager or Investment Adviser and under which registration number, or state plainly that it is not registered and describe what the firm actually does. This is the most consequential paragraph in this document.]

Grievances

[PLACEHOLDER: Set out your grievance redressal process, the compliance officer's name and contact details, expected response times, and the escalation route available to clients — for regulated activities this includes SEBI's SCORES platform and, where applicable, the RBI Ombudsman. This disclosure is mandatory for regulated entities.]