Risk Disclosure and Disclaimers
Effective October 8, 2026
Simulation Only
AlphaLab is a simulated trading environment. No real orders are placed and no real money is at risk. Simulated fills assume execution at displayed prices and do not reflect slippage, liquidity, market impact, partial fills, margin requirements, borrow availability, assignment, commissions, fees, or taxes. Simulations of options, futures, and mutual funds are also simplified. For example, option prices may be estimated rather than quoted, futures may not reflect real contract rolls or margin calls, and mutual funds may fill at prices that differ from the fund's actual end-of-day value. Virtual cash you add or withdraw is not real money and has no value.
Hypothetical Performance
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT 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 SIMILAR TO THOSE SHOWN.
Backtesting Limitations
Backtests rely on historical data that may contain errors, survivorship bias, look-ahead bias, and adjustments for splits and dividends. Results can change a lot based on small choices, such as the dates, settings, or benchmark used. Testing many ideas and keeping only the best ones (often called overfitting) makes results look better than they are likely to be in the future. Past performance, whether actual or simulated, is not indicative of future results.
Paper Trading Is Not Real Trading
Trading with virtual money does not involve the emotions, pressure, or real consequences of trading your own money. Doing well in a simulation does not mean you will do well in real trading.
Risks of Real Trading
Trading securities, options, futures, and other leveraged products involves substantial risk of loss and is not suitable for every investor. Options and futures can result in losses exceeding your initial investment. Short selling exposes you to theoretically unlimited losses. Before trading options, read the Options Clearing Corporation's "Characteristics and Risks of Standardized Options". Funds and ETFs have fees and risks described in their prospectuses.
Market Data
Quotes, charts, bond data, and other market data come from third-party sources we believe to be reliable, but we have not vetted or independently verified them. The data is delayed, not real-time, and may be inaccurate or incomplete. We do not guarantee or warrant the information, how you use it, or the results of that use; all such use is at your own risk. Do not rely on the Service for time-sensitive trading decisions.
AI-Generated Content
News sentiment, summaries, calendars, and ticker extraction are produced by automated AI models. They may be inaccurate, incomplete, outdated, or misleading and should be independently verified. AI output is not advice. The AI Assistant can make mistakes, including stating facts or numbers that are wrong. It does not know your full financial situation, and its answers are not personalized advice, even when it discusses your simulated portfolios. AI Assistant features are available to any subscriber who adds the AI Assistant Pro add-on, on any plan including Free.
Tax Report
The Tax Report shows simulated gains, losses, and dividends based on the lot method you choose. It is for education only. It does not reflect your real tax situation, may not follow the tax rules where you live, and must not be used to prepare a tax return. Talk to a qualified tax professional.
News and SEC Filings
News headlines and links to SEC EDGAR filings are provided for convenience. We do not author, verify, or endorse third-party content and are not responsible for its accuracy.
No Advice; No Fiduciary Relationship
Nothing in the Service is a recommendation, offer, or solicitation to buy or sell any instrument. We do not know your financial situation, objectives, or risk tolerance and owe you no fiduciary duty.
Forward-Looking Information
Any projections, estimates (including earnings estimates), or forward-looking statements are inherently uncertain, and actual results may differ materially.
Sample and Illustrative Results
Any performance figures shown on our website or in our marketing (for example, a sample strategy ledger) are hypothetical illustrations. They are not results achieved by any user or by us.
Educational Curriculum
The Learn hub provides a tiered curriculum of lessons and quizzes on markets, trading, and risk. Lessons are original instructional material written for AlphaLab; where a named source underlies the content, it is cited in Bluebook format. The curriculum is general financial education, not personalized instruction, tutoring, or a recommendation to trade any particular instrument or strategy. Market data shown in lesson charts is delayed and not real-time. Completing lessons or passing quizzes does not certify competence, satisfy any regulatory or licensing requirement, or qualify you to trade or to provide investment advice to others. Higher-tier lessons cover more advanced topics (such as options pricing and portfolio theory); these describe concepts only and do not endorse or recommend their use.