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.
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.
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.
When using Products and Services, there are risks that you must understand before using.
Infrastructure Risks. The infrastructure along the chain of use between you and Alpaca in the performance of any of our Products or Services may likewise cause errors in connectivity. You understand that there may be outages or other problems obstructing the performance of an ISP, server or other 3rd party service that we rely on which may alter the results of a backtest, cause errors in live tracking or cause other errors in our Products or Services. Risks related to infrastructure issues include without limitation, disruption of power, internet access or hardware functionality from your computer or service provider, or the hardware or service providers of our servers or other technology partner.
User Error. User error may also pose a risk when working with Products and Services. You understand that there are many types of user errors, not all of which can be included here and you accept all risks, whether or not specifically identified here when you input data, interpret results and in making any decisions. Common types of user error include without limitation, misinterpretation of what is being input into the data set, misinterpretation of backtesting results or reliance on past results based on past market conditions to apply in current market conditions.
Assumption of the Risks. We make no guarantee that our Products and Services will be error-free or uninterrupted. You understand that errors in the code or program could result in inaccurate backtest results. You assume any and all risks related to the use of backtesting and understand that results may vary with each use and over time.
Infrastructure Risks. The infrastructure along the chain of use between you and Alpaca in the performance of any of our Products or Services may likewise cause errors in connectivity. You understand that there may be outages or other problems obstructing the performance of an ISP, server or other 3rd party service that we rely on which may affect potential trade signals. Risks related to infrastructure issues include without limitation, disruption of power, internet access or hardware functionality from your computer or service provider, or the hardware or service providers of our servers or other technology partner. You understand that in the event of such an occurrence, this may result in a trade signal not being issued at the expected time or other disruption in Product and Services that may affect your trades and are beyond the reasonable control of Alpaca.
Application Functionality. You understand that Algo is an application that is operated remotely over a cloud service and subject to a variety of risks inherent in application functionality. We make no guarantee that our Products and Services, which includes our Algo application, will function error free. Therefore, by using Algo, you accept any risks associated in its function including without limitation that Algo may miss opportunities, send signals not as you intended or not send signals at all. Further, errors in functionality may limit your ability to terminate, “force exit,” or edit your algorithm.
Risks in Market Conditions. Market conditions are unpredictable and therefore add to the risks of trading. Risks associated with market conditions include without limitation, lack of liquidity due to geopolitical conditions or acts of nature. If, for example there were a lack of liquidity in your market, this means that even if your entry or exit strategy order were placed, that order may not be filled completely or at all depending on availability. You understand that this is beyond Alpaca’s control and that we will not be liable for any damages where a shift in market conditions was involved.
You Risk Loss of Investment. You understand that you may lose all or a substantial portion of your investment whether due to leveraging, lack of liquidity in that there may be no secondary market, restrictions on transferring funds, taxation or fee structures. Algo does not provide investment advice and you should seek the services of a professional if you do not understand any of these terms or do not understand the risk you are assuming when you make such trades.
3rd Party Services. Services sourced from third party vendors cannot be guaranteed accurate or error free. You understand that these services are subject to the risks explained herein including without limitation, infrastructure risks, integration risks and risks associated with application functionality.
Updates to Application and System Maintenance. We may periodically perform application and system updates and maintenance. During this time, you understand that our Products and Services may experience a down time and not function. It is also possible that after such update or maintenance work, your algo may perform differently and/or may add or remove functionality. Such updates may occur with or without advance notice and you understand and agree that Alpaca will not be liable for any damages caused as a result.
Additional Risks and Best Practices. When using our Products and Services, you understand that you are in control of your investment. It is your responsibility to track your performance at all times and understand your own risk tolerance. When creating a strategy, you may find it helpful to perform multiple backtests during multiple time frames to see how your algorithm performed in the past. Additionally, you may want to live test your algorithm before actually connecting it to real money trades. By doing this, you will experience how your algorithm could hypothetically perform in current market conditions notwithstanding broker fees, limitations on liquidity or any other factors not calculated.