Alpace

Risk Disclosure

Welcome to Alpaca (“Alpaca”), a website and online/mobile services provided to you by AlpacaDB, Inc. (“Alpaca”, “we”, or “us”). We provide investment analysis tools and related written reports that illustrate a hypothetical based on mathematical principals from past results and through AlpacaAlgo (“Algo”) and AlpacaScan (“Scan”, collectively “Products”) we provide services and functions for you to research, build, and test your investment strategies and your trading algorithms (“Services”).

WUsing our Products and Services may expose you to a variety of risks, before using Products or any related Services provided by us, you should read and understand these risks.

TRADING IS NOT SUITABLE FOR EVERYONE. TRADING IS INHERENTLY HIGH RISK AND TRADING USING ALGORITHMS CAN RESULT IN A COMPLETE LOSS OF YOUR FUNDS. YOU SHOULD MONITOR YOUR TRADING ACTIVITY AT ALL TIMES.

IMPORTANT: The projections or other information generated by Alpaca Products and/or Services, whether directly or indirectly, regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results.

General Risk in Using Analysis with Scan

Past Results are no guarantee of future results. Scan is a publication that provides you with information regarding price history of investment products for educational and entertainment purposes only and we provide no investment, financial, regulatory, tax or legal advice. The numbers and labels used in Scan are meant only to provide a hypothetical illustration of mathematical principles using candlestick charts and patterns. Scan is not investment advice and any observations concerning any security, investment product or strategy, or trading instructions provided in Scan are not a recommendation to buy, sell or hold such security or investment product, or to make any other investment decisions. We offer no advice regarding the nature, potential value, risk or suitability of any particular investment strategy, transaction, security or investment product.

General Risks in Live Algorithmic Trading

Past results are no guarantee of future results. Algo is an investment tool that provides services and functions for you to research, build, and test investment strategies and trading algorithms. We provide no investment, financial, regulatory, tax or legal advice. The back test results indicate performance based on past results only and are meant only to provide a hypothetical illustration of mathematical principles using candlestick charts and patterns. HYPOTHETICAL ILLUSTRATIONS OR SIMULATED TRADING DO NOT REPRESENT ACTUAL TRADING. Algo is not investment advice and any observations concerning any security, investment product or strategy, or trading instructions provided in Algo are not a recommendation to buy, sell or hold such security or investment product, or to make any other investment decisions. We offer no advice regarding the nature, potential value, risk or suitability of any particular investment strategy, transaction, security or investment product.

Algorithmic trading is subject to a variety of risks, not all of which are foreseeable or can be enumerated here. These risks, whether or not foreseeable, can manifest in such ways that your algorithm may not function as you had intended. Past results are no guarantee of future results and because the data inputs used to create the algorithm are taken from past results, there is no guarantee that your algorithm will be successful even if it does perform as you had intended. It is your responsibility to thoroughly test, understand and experience the performance of your algorithm before you put it into production and further that you continually monitor its performance and act in accordance with your personal risk tolerance.

You understand that Algo is a complex tool and can help in your research of your investments, and that by using Algo, your trades may be executed in high volume and without regard to the cost of trade execution. Further, you understand that although your algorithm may indicate a profit, the cost of execution may, in aggregate, amount to a loss. You agree that Alpaca is not liable for any losses you may incur in using Algo, whether due to the performance of your trades or due to other costs such as order processing costs. We make no representation as to the practicality or feasibility of monitoring your algorithms and you knowingly and expressly agree to accept all risks in connection with your use of Algo. You understand that trading is inherently risky and that trading with algorithms can multiply that risk further. It is your responsibility to understand your own risk tolerance, the amount of risk you are taking by using Algo, and to make your own decisions about if and how to use the Products according to your risk tolerance and you understand and agree to the terms as set forth in this Risk Disclosure.

Risks of Trading and Investing with Products and Services

When using Products and Services, there are risks that you must understand before using.

Other Risks