XKalevur Risk and Trading Disclosures

DRAFT FOR LEGAL REVIEW. Not in force until reviewed by counsel and published. These disclosures are part of the Terms of Service. They are shown at sign-up (acceptance required), in the app's hamburger menu, and on xkalevur.com.

Effective date: [date] Version: [0.1 draft]

1. Not advice

XKalevur is software. It does not give investment, financial, legal or tax advice, and nothing it shows is a recommendation or an offer to buy or sell anything. Signals, markers, grades, scores, watch lists, news-risk flags, optimizer and replay results are produced by automated rules from market data. They are not personalised to you. We are not an investment adviser, broker, or financial adviser, we do not manage your assets or trade on your behalf; the software runs on your computer and sends orders to your own accounts according to your own settings. [counsel to confirm the regulatory characterisation]

2. Past performance

Past performance does not guarantee future results. Back-tests, replays, simulations, paper-trading results, optimizer results, screenshots and examples are hypothetical. They are built with hindsight, often assume fills, prices, spreads and liquidity that real trading does not give, ignore some costs, and cannot reflect the pressure of real money. Results that look good in testing may lose money live. No result shown anywhere is typical or promised.

3. You can lose money

Trading involves substantial risk of loss, including the loss of your entire investment and, with margin or short positions, more than you invested. Only trade money you can afford to lose.

• Low-priced and small-company stocks can be thinly traded, gap, halt, be manipulated, be diluted, or become worthless; spreads can be wide and stops can fill far from their price.
• Short-squeeze and high-volatility strategies are inherently speculative and fast-moving.
• ETFs/ETNs, especially leveraged and inverse ones, can lose value quickly and are not suited to holding for long.
• Digital assets are volatile, lightly regulated, trade around the clock and carry exchange, custody, liquidity and security risks.
• Margin magnifies gains and losses and can force liquidation.
• Extended-hours and overnight trading has less liquidity, wider spreads and higher volatility.

4. Automation risks

Automated trading can lose money faster and in more ways than manual trading. Examples: software bugs; wrong, delayed, missing or revised data; outages of your computer, internet, our servers or your broker; API errors or changed rules at the broker; rejected, partial, duplicate or late orders; stops and take-profits that do not execute at their price (slippage, gaps, halts); a position left open when something fails; unexpected interaction between your settings; and orders you did not intend because of a setting you chose. You must monitor the software and your accounts, keep alerts on, and be ready to intervene. Use the pause and close controls; closing positions at your broker is always available to you.

5. Settings, strategies and optimization

Every setting changes risk. Defaults are not recommendations for you. Strategies, markers and the optimizer rely on historical patterns that can stop working. Optimizer output can be over-fitted to the past. Take your own decisions.

6. News, AI and third-party content

News scores, filings flags and any language-model output are automated, can be wrong or out of date, and are not a substitute for your own research. Third-party data, brokers and exchanges are outside our control.

7. Subscription ending

If your subscription ends, the software continues to manage positions that are already open but will not open new ones. It is still your responsibility to watch and, if you wish, close those positions.

8. Regulation and taxes

You are responsible for following the rules of your broker and exchange (for example margin, day-trading, short-sale, wash-sale and order-handling rules) and for reporting and paying taxes on your trading. We do not provide tax or legal advice.

9. Data and privacy summary

Your broker keys and trading data stay on your computer. We hold your e-mail, plan and billing status, and devices. We do not currently collect usage or diagnostic data; if we do in future it will be anonymous and without personal information. See the Privacy Policy.

10. Acknowledgement

By using XKalevur you confirm that you have read these disclosures, that you understand the risks, that you trade at your own risk and expense, and that you do not rely on us for investment advice.

Questions? Write to support@xkalevur.com or use the contact form.