// Legal

Disclaimer.

Futures, Equities, and Options trading involve substantial risk. The valuation of futures and options may fluctuate, and as a result, you may lose more than your original investment. In no event should the content of any Black Clover Trading LLC (BCT or Black Clover) email, chatroom (Discord), or website be construed as an expression of an implied promise, guarantee, or implication by or from BCT, its owners or affiliates, that you will profit, or that losses can or will be limited in any manner whatsoever. Past performance is not necessarily indicative of future results. Information provided on any Black Clover Trading LLC email, chatroom (Discord), or website is intended solely for informative purposes and is obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. By receiving any communication from Black Clover Trading LLC, you agree that any information provided is solely the opinion of Black Clover Trading LLC and its affiliates and not considered to be investment advice of any kind. You agree to trade at your own risk and seek your own professional advice before investing.

The information contained on the clovertrading.io website, or any other website that has Black Clover Trading LLC or its founding members, is provided for educational and informational purposes only. The website contains general information and may not reflect current investment developments or information. The information is not guaranteed to be correct, complete, or current. Black Clover makes no warranty, expressed or implied, about the accuracy or reliability of the information at this website or at any other website to which it is linked. Recipients of content from this website or directly from Black Clover should not act or refrain from acting on the basis of any information included in the site without seeking appropriate investment advice from a licensed industry representative — such as, but not limited to, a Broker/Dealer, Introducing Broker, FCM, and/or Registered Investment Advisor.

Neither BCT nor its founding members are licensed to make such advisements. No information herein is intended as securities brokerage, investment, tax, accounting, or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation, or sponsorship of any company, security, or fund. Black Clover cannot and does not assess, verify, or guarantee the adequacy, accuracy, or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his or her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and should investigate and fully understand any and all risks before investing.

Black Clover in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or on this site. In addition, Black Clover accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. The information provided is not intended to be used as the sole basis of any investment decision, and should not be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily an indication of future returns.

All purchasers of Black Clover Trading LLC or other Black Clover products are encouraged to speak with a licensed representative of their choice regarding the appropriateness of investing/trading or of any particular investment/trading strategy. Black Clover expressly disclaims all liability with respect to actions taken or not taken by the recipient based on any or all of the information or other contents of this site. Black Clover is committed to transparency; however, Black Clover does not guarantee the accuracy of any trade information found online or supplied to a student or anyone, including but not limited to trades posted on Kinfo, trade statements, general trade ideas, or what interviewers say or write about Black Clover or its founding members. As no one can guarantee transparency without being registered, do not believe us or anyone on the web about what they say about us or anyone. Everything is for educational purposes only. You are responsible for everything.

Any information sent to Black Clover via Internet, email, or through the website is not secure and is done so on a non-confidential basis. However, it will be treated as a confidential communication by Black Clover and will be afforded confidentiality protections provided by law.

Affiliate Link Disclosure

BCT (founding members) may use affiliate links on emails, chatroom (Discord), websites, or other electronic communications. This means that in some cases when you click links — for instance to Amazon.com or another online retailer — we get a commission for referred sales. If you click one of these affiliate links and make a purchase, the retailer may pay us a commission. If we link to an online retailer, it is because we legitimately believe their product can benefit BCT (founding members) subscribers or the general public.

No Refunds / Exchanges

Refunds are handled on a case-by-case basis. However, after seven days no refunds will be given. Please understand that this is a business and not a charity. No one forced you to buy the product. You bought it because you wanted to. Own up to your own actions. If you have any questions, you may always contact us at support@clovertrading.io.

Copyright

Copyright © 2026 BCT and/or founding members. All rights reserved. All materials presented on this site and Discord chatroom are copyrighted and owned by BCT, or by other individuals or entities as designated. Any republication, retransmission, reproduction, downloading, storing, or distribution of all or part of any materials found on this site is expressly prohibited.

No Representations

This material may contain technical or typographical errors. Black Clover does not guarantee its accuracy, completeness, or suitability. IN NO EVENT SHALL BLACK CLOVER BE LIABLE FOR ANY SPECIAL, INDIRECT, OR CONSEQUENTIAL DAMAGES RELATING TO THIS MATERIAL, FOR ANY USE OF THIS WEBSITE, OR FOR ANY OTHER HYPERLINKED WEBSITE. Black Clover takes no responsibility and makes no warranty whatsoever for the content or information contained on sites linked to or from this site. All such links are provided on this website solely for the convenience of users and do not constitute promotion of anyone.

Commission Rule 4.41(c)(1) applies to “any publication, distribution or broadcast of any report, letter, circulation, memorandum, publication, writing, advertisement or other literature…” Commission Rule 4.41(b) prohibits any person from presenting the performance of any simulated or hypothetical futures account or futures interest of a CTA (we are not a CTA), unless the presentation is accompanied by a disclosure statement. The statement describes the limitations of simulated or hypothetical futures trading as a guide to the performance that a CTA (we are not a CTA) is likely to achieve in actual trading.

Additional Risk Disclosure Statement for System Traders

Commission Rule 4.41(b)(1) — hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses. There have been no promises, guarantees, or warranties suggesting that any trading will result in a profit or will not result in a loss.

Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.

One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.

Moreover, no one has the right to make a review of our website or our trading strategy without being part of our paid product or services that can be found on our shop page. No one has the right to take pictures of our chats without our express written permission, and if you wish to write a review, you must email us. Defamation of character and reviewing someone’s material without ever being a member is a crime. Full legal action will be taken. You have been warned and consent to everything above while using the site.

// Risk & Results Disclosure

If you do not agree with any term or provision of our Terms and Conditions, you should not use our Site, Services, Content, or Information. Please be advised that your continued use of the Site, Services, Content, or Information provided shall indicate your consent and agreement to our Terms and Conditions. Black Clover Trading LLC may publish testimonials or descriptions of past performance, but these results are NOT typical, are not indicative of future results or performance, and are not intended to be a representation, warranty, or guarantee that similar results will be obtained by you. The experience of Black Clover Trading LLC with trading is not typical, nor is the experience of traders featured in testimonials. They are experienced traders. Becoming an experienced trader takes hard work, dedication, and a significant amount of time. Your results may differ materially from those expressed or utilized by Black Clover Trading LLC due to a number of factors. We do not track the typical results of our past or current customers. As a provider of educational courses, we do not have access to the personal trading accounts or brokerage statements of our customers. As a result, we have no reason to believe our customers perform better or worse than traders as a whole.

Available research data suggests that most day traders are NOT profitable. In a research paper published in 2014 titled “Do Day Traders Rationally Learn About Their Ability?”, professors from the University of California studied 3.7 billion trades from the Taiwan Stock Exchange between 1992-2006 and found that only 9.81% of day trading volume was generated by predictably profitable traders and that these predictably profitable traders constitute less than 3% of all day traders on an average day. In a 2005 article published in the Journal of Applied Finance titled “The Profitability of Active Stock Traders”, professors at the University of Oxford and the University College Dublin found that out of 1,146 brokerage accounts day trading the U.S. markets between March 8, 2000 and June 13, 2000, only 50% were profitable with an average net profit of $16,619. In a 2003 article published in the Financial Analysts Journal titled “The Profitability of Day Traders”, professors at the University of Texas found that out of 334 brokerage accounts day trading the U.S. markets between February 1998 and October 1999, only 35% were profitable and only 14% generated profits in excess of $10,000. The range of results in these three studies exemplify the challenge of determining a definitive success rate for day traders. At a minimum, these studies indicate that at least 50% of aspiring day traders will not be profitable. This reiterates that consistently making money trading stocks is not easy.

Day Trading is a high-risk activity and can result in the loss of your entire investment. Any trade or investment is at your own risk. Any and all information discussed is for educational and informational purposes only and should not be considered tax, legal, or investment advice. A referral to a stock or commodity is not an indication to buy or sell that stock or commodity. This does not represent our full Disclaimer. Please read our complete disclaimer.

Citations: Barber, Brad & Lee, Yong-Ill & Liu, Yu-Jane & Odean, Terrance. (2014). Do Day Traders Rationally Learn About Their Ability?. SSRN Electronic Journal — link. · Garvey, Ryan and Murphy, Anthony, The Profitability of Active Stock Traders. Journal of Applied Finance, Vol. 15, No. 2, Fall/Winter 2005 — link. · Douglas J. Jordan & J. David Diltz (2003) The Profitability of Day Traders, Financial Analysts Journal, 59:6, 85-94 — link.