Terms and disclaimers

Who we are

Armada Quant is a brand of Sable Pacific LLC, a Wyoming limited liability company. Sable Pacific LLC develops and owns Armada Quant FX Portfolio Trader (“the Software”) and operates this site, armadaquant.com. Wherever this site or the Software names Armada Quant, the business behind it is Sable Pacific LLC.

The Software is an Expert Advisor for MetaTrader 5 that trades eleven currency pairs on one-hour bars. Every buyer receives the same program. It runs in the buyer’s own MetaTrader 5 terminal, in the buyer’s own account, with the buyer’s own broker.

For product support or questions about Armada Quant, these terms or privacy, please contact us through the product’s comments on the MQL5 Market or through the mql5.com messaging system. These are our preferred channels, and most questions are resolved there.

Risk disclosure

Read this section before you buy or run the Software. It forms part of these terms.

Trading foreign exchange carries a substantial risk of loss

Trading foreign currency on margin carries a high level of risk. It is not suitable for every investor. Leverage works against you as well as for you. You could lose some or all of your deposit, and in some cases more than your deposit, and losses can come quickly. Never trade with money you cannot afford to lose. Before you trade, weigh your objectives, your experience and your appetite for risk. If you have any doubt, seek independent advice. Sable Pacific LLC does not promise or guarantee any profit, or any limit on loss.

How the Software trades, and the risks that come with it

• It runs on its own. The Software opens, adds to and closes positions automatically. It does not ask you first, and no one at Sable Pacific LLC reviews its trades. It keeps trading for as long as it runs in your terminal with automated trading turned on. If you remove it from the chart or turn automated trading off, it stops managing positions. Any position left open is then yours to manage, with no stop loss at your broker.
• Its stops: a stop counted in entries, and an optional loss limit. The Software has a stop loss counted in entries (MaxEntryStopLoss): once a position holds that many entries it stops adding, and if a bar then closes at least one add step further against the last fill, it closes the whole position at the next available price, usually at a loss. At the default setting (100 entries) it did not act in our tests. It also has a loss limit (LossLimitPercent), which is off by default: if you set it, and the Software’s results, open positions included, fall that percentage of Capital below the highest point its closed results have reached (with compounding on, the percentage is taken of Capital plus the compounded part of the results at that highest point), it closes every position it holds, on every pair, at the next available prices, usually at a loss, and opens no new position until the setting is changed. Because that highest point counts closed results only, the limit usually acts before the account’s value, open positions included, has fallen by the full level from its own highest point, since open positions usually show a loss; when open positions show a profit at that highest point, it acts only after a larger fall. A price gap can make that loss larger than the level you set. The results we publish do not use the loss limit. Apart from these stops and the drawdown filter’s step-out (below), it closes a position only when the combined position shows a profit on price at the close of a bar. The close then fills at the next available price, and swap and commission are not counted, so after a gap, a wider spread, a commission or overnight swap, a closed position can still end at a loss. Until one of those exits, a losing position stays open. That can take days, weeks, months or longer. The position can move far against you while it waits. Results with a lower entry-count setting were not tested.
• Its drawdown filter can close a pair’s positions at a loss. The Software watches each pair on its own. When a pair’s result, open positions included, has fallen below its highest point by a set amount (at the default level, about 17.6% of Capital, an amount that moves with Capital and with compounding) and that pair’s trend reads down, the Software closes the pair’s positions at the next hourly open, usually at a loss, and stops trading that pair until the fall is back under half that amount and the trend reads up again. While a pair is out, the Software keeps track of the position it would have held; when it steps back in, it opens that whole position at once, adds included, at the prices of that moment, so a large position can open in a single step. It decides once a day and for each pair on its own, so a sudden gap, or several pairs falling together while none reaches its level, can still cause a large drop. Setting it to 0 turns it off. Results with any level other than the default (10) were not tested.
• It adds to positions that have moved against it. When price has moved against an open position and the Software’s signal occurs again, it opens a further position, up to the add limit. Each added position is normally sized larger than the one before, so a full set of adds is many times the size of the first position. Your exposure is largest when the market has moved furthest against you.
• It holds related positions at the same time. The eleven pairs are built from only six currencies. A sharp move in one currency can put several open positions against you at once, and those losses add up.
• Gaps and sudden moves. Prices can jump over a weekend, at a market open, on a central-bank decision or when liquidity is thin. A position can be opened or closed at a far worse price than the last one quoted.
• Your broker can close positions for you. If your account falls below your broker’s margin requirement, the broker can close some or all of your positions at a loss, whatever the Software intends.
• Your settings set your exposure. The Software sizes every new position from Capital: the amount you enter or, if you leave it at 0, the account’s own money (its balance before the Software’s first trade, with later deposits and withdrawals). With compounding on, as it is by default, the Software adds its closed results to that amount, so positions grow after gains and shrink after losses; with compounding at 0 the size stays fixed. The settings you choose, above all Capital and compounding, decide how large the positions become. Choosing them for your account is your decision alone.

The results shown on this site are simulated

Unless a figure is clearly labeled as the record of a live account, every figure, chart, curve and screenshot that Armada Quant publishes comes from running the Software on historical price data in the MetaTrader 5 Strategy Tester, is calculated from such runs, or comes from running the same trading rules in an equivalent reference engine or on another test platform. The one exception is the weekly statements we post in the product’s comments: they come from a demo account, where the Software trades in real time but no real money is at risk. None of it is a record of actual trading. Every simulated result, the demo statements included, is subject to this statement:

Simulated results depend heavily on the period, the data and the settings used. Other periods, including ones not tested here, can produce a much larger drawdown than shown. A future period can be worse than any period tested.

Past results, on any feed, are not indicative of future results.

What can differ in a live account

• Broker costs. Spreads, commissions and overnight swap differ from broker to broker, and from the assumptions in any test. Results on your broker will differ: price data, spreads and swap differ between brokers. Small differences in the hourly prices can change when a position is added to or closed, so one pair’s result can differ a great deal from one broker to another, while the eleven pairs together vary less. Swap and spread add their own lasting differences on top of that.
• Overnight swap. Positions are often held overnight and for days or longer. Your broker charges or credits swap for every night a position is open. The Software can hold a pair for long periods on the side of the market that pays swap. On such a pair swap is a lasting cost for as long as a position is open, and it can turn a result from positive to negative.
• Execution. Live fills depend on liquidity, latency, slippage, requotes and your broker’s execution model. A test fills at prices a live account may not receive.
• Account rules. Your broker and the rules where you live can limit your leverage, combine all positions in a pair into one, or require the oldest position in a pair to close first. U.S. retail forex accounts work under rules like these. They can change what the Software does and keep it from behaving as it did in a test.
• Connectivity and platform. An Expert Advisor trades only while the terminal is running and connected. Outages, restarts, updates or a broker-side change can interrupt it or change what it does.
• Your broker. In retail forex your broker is usually the other party to your trades and sets the prices you trade at. If your broker fails or does not pay, you can lose money you hold with it.
• Data. Historical one-hour bars differ between brokers and can be revised. The future will not repeat the past.

No advice

Sable Pacific LLC sells non-customized software. Every buyer receives the same program with the same default settings. Nothing on this site, in the Software, in its documentation or in our replies is personal advice of any kind, whether investment, trading, legal or tax advice, and nothing is tailored to your circumstances. When we answer a question in the product’s comments or by message, we explain how the Software works in general. We do not tell any buyer what position size, account, broker or leverage to use for their account, and no answer we give is a recommendation for you. Except to find a fault in the Software, we do not review, monitor or comment on any buyer’s own account, positions, margin or results, even when they are posted or sent to us. Please keep those details out of public comments. The Software’s default settings are the settings we tested, the same for every buyer; they are not a recommendation for your account. The Software sizes its positions from the Capital setting by the same fixed rule for every buyer, and the smallest account sizes this site states describe that rule; neither is a recommendation for your account. Buying or using the Software does not create an advisory, fiduciary or brokerage relationship between you and us.

Sable Pacific LLC is not registered in any capacity with the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission, and it is not a member of the National Futures Association (NFA). It is not a broker, a dealer or an investment adviser. It does not manage accounts, hold anyone’s money or place trades for anyone. It has no access to your account: it cannot see your positions or your settings, and it cannot stop or change the Software once it runs in your terminal. It has no authority, by agreement or otherwise, to cause any trade in your account: you decide whether to attach the Software and switch automated trading on, and you can stop it at any time. To the extent that selling non-customized trading software makes it a commodity trading advisor, it relies on the exemption in CFTC Regulation 4.14(a)(9). CFTC Rule 4.41 still applies to every simulated result it publishes.

Your responsibility

If you purchase or run the Software, you accept that you alone are responsible for your decisions with it and for any loss that results. That includes your broker account, your terminal, your virtual server, your internet connection, every setting you choose, and watching your account while the Software runs. Test it on a demo account before you commit real money. Make sure that trading foreign exchange with an automated program is lawful for you where you live, and trade only with a broker authorized to deal with you. In the United States, retail foreign exchange trading may be offered only by a firm registered with the CFTC as a retail foreign exchange dealer or futures commission merchant and a member of NFA, or by certain regulated financial institutions such as banks. You can check a U.S. firm’s registration in NFA’s BASIC database. Sable Pacific LLC makes no representation that any account will or is likely to achieve profits or losses similar to any figure shown.

Terms of use

These terms

These terms govern your use of armadaquant.com and of the Software. Sable Pacific LLC (“we” or “us”) publishes both. By using the site or the Software, you agree to these terms. If you do not agree, do not use them. You must be at least 18 years old and able to enter a binding contract. For a license bought through the MQL5 Market, these terms are our end user license agreement for the Software, as the Market’s terms allow.

Where the Software is sold

Licenses to the Software are sold only through the MQL5 Market. MetaQuotes Ltd. sells each license through the Market under the rights we grant it and handles payment under the MQL5 Market’s terms; the license itself is an agreement between you and us. The price and the number of activations are those shown on the listing when you buy. The Market also offers a free demo version, which runs in the MetaTrader 5 Strategy Tester. Nothing is sold on this site.

Refunds

Purchases are final, except where the law or the MQL5 Market’s rules and agreements provide otherwise. The MQL5 Market’s rules state that products purchased through the Market “can not be returned.” If a problem arises with the Software, contact us first in the product’s comments or by MQL5 message. Under the Market’s rules, a dispute that cannot be settled directly may be taken by either party to the mql5.com Service Desk. Nothing in this section takes away a refund or other remedy that the law gives you and does not allow to be waived.

License

A purchase grants you a personal, non-exclusive, non-transferable license to run the Software. You may run it on as many computers as the Market activations included with your purchase allow. You may keep one backup copy for your own use. Otherwise you may not decompile, reverse-engineer, copy, resell, sublicense or redistribute the Software, or try to defeat its licensing. The license ends automatically if you break these restrictions. The Software, its rules and its parameter sets are the property of Sable Pacific LLC.

Support and updates

Support is given in the product’s comments section and through the mql5.com messaging system. We aim to reply within 24 hours; that is a goal we work to, not a guarantee. We describe how the Software works; we do not advise on your trading. We meet the duties the Market’s rules place on every seller, at no charge: we fix critical errors that stop the Software from running, we adapt it to changes in the MQL5 language, and if you ask within one month of purchase, we make the changes needed for the Software to do what its listing states. Beyond what the Market’s rules require, we have no obligation to provide updates, new versions or new features. Updates we release are free through the Market. Whether to install an update on an existing activation is your choice. The Market does not keep the previous version, so keep a backup copy first if you may want it. A new activation always installs the latest version. We may change, suspend or withdraw the Software or this site at any time. Under the Market’s rules, buyers of a product withdrawn from the Market can generally keep installing it within their remaining activations; the Market’s agreements set the exceptions.

Export and sanctions

You may not buy or use the Software if you are located in a country subject to a comprehensive United States embargo, or if you are on, or acting for someone on, a United States government list of restricted or sanctioned parties. You are responsible for complying with the export and sanctions laws that apply to you.

Third-party services

The MQL5 Market and MetaTrader 5 are provided by MetaQuotes Ltd. Your broker, your virtual server and your internet connection are provided by others. We do not control them and are not responsible for their availability, prices, execution, data or conduct.

No warranty

The Software and this site are provided “as is,” “as available” and “with all faults.” To the fullest extent the law permits, we disclaim all warranties, express or implied, including the implied warranties of merchantability and fitness for a particular purpose and any warranty of non-infringement. We do not warrant that the Software will run without interruption or error. We do not warrant that it fits every broker, account type or platform build. We do not warrant that any trading result will be achieved. Passing the Market’s automated checks does not mean the Software is free of errors or will perform as it did in a test. If you are a consumer, the law where you live may give you rights when digital content is faulty or not as described, as it does in the European Union and the United Kingdom; this section does not take those rights away.

Limitation of liability

To the fullest extent the law permits, Sable Pacific LLC, its affiliates, and the members, managers, officers, employees, agents and contractors of each of them are not liable for any trading losses or lost profits, or for any indirect, incidental, special, consequential or punitive damages, arising from the site or the Software. Our total liability for all claims together is capped at the amount you paid for the Software through the MQL5 Market. Where the law does not allow a limitation, our liability is limited to the smallest amount the law allows, and nothing in these terms limits liability that the law does not allow to be limited, such as liability for fraud or for death or personal injury caused by negligence. The MQL5 Market’s own rules, which govern every purchase there, say the same about losses: neither the seller nor the Market’s administration is liable for any direct or consequential loss arising from the operation of a product bought through the Market, or for loss of profits in connection with its use.

Indemnity

You agree to indemnify and hold harmless Sable Pacific LLC, its affiliates, and the members, managers, officers, employees, agents and contractors of each of them from any claim brought by someone else, and from the loss, liability and expense that come with it, including reasonable attorneys’ fees, to the extent the claim arises from your breach of these terms or of any law, from your copying, sharing or other misuse of the Software, or from your use of the Software to trade on behalf of anyone else. This does not apply to the extent a claim is caused by our own breach of these terms, negligence or misconduct, and it does not take away a right that the law gives you as a consumer and does not allow to be waived.

Intellectual property and trademarks

The Software and the text, charts and design of this site belong to Sable Pacific LLC and are protected by copyright. MetaTrader, MQL5 and MetaQuotes are trademarks of MetaQuotes Ltd. Naming MetaQuotes as the source of the historical price data used in our tests, and Alpari and FXTM as the sources of the price data we compared it with, implies no affiliation with or endorsement by any of them, and no recommendation of any broker.

Disputes and governing law

Before bringing a claim, please contact us through the MQL5 Market. Most concerns are settled there, and purchases through the Market are also covered by its own rules and dispute process. The laws of the State of Wyoming and the applicable laws of the United States govern these terms and any dispute about the site or the Software, without regard to conflict-of-law rules. Any dispute is subject to the exclusive jurisdiction of the state and federal courts located in Wyoming, to the extent the law allows. To the extent the law allows, any claim must be brought individually and not as a plaintiff or class member in a class or representative proceeding. If you are a consumer, nothing in these terms takes away a right that the law where you live gives you and does not allow to be waived by contract.

General

These terms, together with the MQL5 Market’s rules and agreements for anything bought through the Market, are the whole agreement between you and us about the site and the Software. If these terms and the Market’s rules or agreements conflict about a purchase, the Market’s rules and agreements control. The parts of these terms that by their nature should continue, including the limitation of liability, the indemnity and the intellectual-property terms, survive the end of any license. We are not responsible for any failure or delay caused by events beyond our reasonable control. If a court finds any part of these terms unenforceable, the rest remains in effect. Our not enforcing a term is not a waiver of it. You may not transfer your rights under these terms; we may transfer ours. Any translation of our materials is for convenience, and the English version controls. We may change these terms by posting a new version here with a new date; the version in effect when you use the site or the Software applies to that use. A change does not apply to a dispute that arose before the change was posted, and it does not take away a license you have already bought.

Privacy

What this site collects

This is a static site. It has no accounts, no forms and no shopping cart. It sets no cookies, runs no analytics or advertising scripts, and loads nothing from any other website. Our web host may keep ordinary server logs for us: your IP address, the pages you requested, the time and your browser type. They are used only to keep the site secure and working, which is our legitimate interest in running it, and they are kept only for the limited period of the host’s standard log rotation.

Messages

If you contact us through the MQL5 Market, MetaQuotes handles that message under its own privacy policy, and we see what you write and your MQL5 user name. If you write to us by post, we see your letter. We use what you send only to answer you and to keep a record of the support given, which is our legitimate interest in supporting the Software, and we keep it only as long as we need it for those purposes. We never add you to a mailing list without your express consent. We do not sell or lease your details to anyone.

Purchases

You buy the Software through the MQL5 Market, a service of MetaQuotes Ltd. MetaQuotes handles your payment details, your license activations and your Market account under its own terms and privacy policy. Sable Pacific LLC never receives your payment information.

The Software itself

The Software runs inside your MetaTrader 5 terminal as an Expert Advisor. It loads no external libraries and sends nothing to Sable Pacific LLC. If you switch its phone notifications on (they are off by default), it asks your terminal to send short status messages to your phone through MetaTrader’s own notification service, to the MetaQuotes ID you entered in the terminal; MetaQuotes handles those messages under its own terms and privacy policy. Apart from that, it makes no network requests of its own.

Children

This site and the Software are not directed to anyone under 18, and we do not knowingly collect information from anyone under 18.

Your rights

You may ask what personal information we hold about you, and ask us to correct or delete it. If the law where you live gives you further rights over your information, including the right to object or to complain to a data-protection authority, you can use them the same way. Privacy requests can be sent through the mql5.com messaging system, or by mail to the address at the end of this page. This site is operated from the United States, so information you send us is handled there. We share it with no one except MetaQuotes and our web host, as this page explains, the service that receives our mail at our postal address, our professional advisers, and anyone the law requires us to share it with.

Changes

If these terms or this policy change, we post the new version here with a new date.