Terms of Use
Draft status
Draft — not yet reviewed by a lawyer. Have a licensed attorney review this before sharing it publicly or relying on it.
1. Who we are and what this is
Paper Trading Lab (the "App") is run by Bycha Buxton (Aerial Imagery LLC), located in California ("we," "us," or "the owner"). By using the App, you agree to these Terms. If you don't agree, please don't use the App.
The App is an educational tool. You watch software bots, assisted by artificial intelligence (AI), make simulated trades in stocks and bond exchange-traded funds (ETFs) using fake money and real market data.
2. No real accounts, no real trades
The App never connects to, logs in to, or places trades in any real brokerage, bank, or investment account. All balances, trades, and profits or losses in the App are simulated.
If you choose a broker in the App, we store only the broker's name so we can link to its public website. We never ask for or store your brokerage username, password, or account numbers.
3. Education only, not advice
Everything in the App is general education. It is not personalized investment, financial, tax, or legal advice, and it is not a recommendation to buy or sell any security.
Neither the owner nor the App is a registered investment adviser, broker-dealer, or financial planner. No adviser-client or fiduciary relationship is created by your use of the App.
Before making real financial decisions, consider talking with a licensed professional who knows your situation.
4. You act at your own risk
If you copy any trade by hand into your own account, that is solely your decision and your responsibility. You may lose some or all of the money you invest.
Your results will differ from the App's simulated results because of timing, prices, fees, taxes, settlement rules, and other factors.
5. The owner and bots may hold the same positions
The owner may personally own, buy, or sell the same securities that the bots trade or that appear in the App, before, during, or after they appear. The bots' simulated portfolios may also hold the same positions as each other. This could be seen as a conflict of interest, and you should keep it in mind.
6. AI limits
The bots use AI models from third parties, including OpenAI and TypeSafe. AI can be wrong, incomplete, out of date, or made up. No AI has a proven trading edge, and past simulated results do not predict future results.
7. Data may be delayed or wrong
Market data, economic data, filings, and headlines come from third-party sources. They may be delayed, incomplete, or incorrect, and the App may have bugs or outages. We don't guarantee the accuracy, completeness, or timeliness of anything in the App.
8. Invite-only access
Access to the App is by invitation only. Your access is personal and may not be shared. We may suspend or end your access at any time, for any reason or no reason, with or without notice.
9. Acceptable use
Don't misuse the App. For example, don't try to break its security, scrape it at scale, resell its content, or use it to break any law.
10. No warranties
The App is provided "as is" and "as available," without warranties of any kind, express or implied, including warranties of merchantability, fitness for a particular purpose, accuracy, and non-infringement, to the fullest extent the law allows.
11. Limitation of liability
To the fullest extent the law allows, the owner and Aerial Imagery LLC will not be liable for any indirect, incidental, special, consequential, or punitive damages, or for any trading losses, lost profits, or lost data, arising from or related to the App or any trade you make, even if told such losses were possible.
To the fullest extent the law allows, our total liability for any claim related to the App is limited to one hundred U.S. dollars (US$100). Some places don't allow certain limits, so some of these may not apply to you.
12. Indemnification
You agree to defend, indemnify, and hold harmless the owner and Aerial Imagery LLC from any claims, losses, damages, and costs (including reasonable attorney's fees) arising from your use of the App, any trade you place, or your breaking these Terms or any law.
13. Binding individual arbitration
Please read this carefully. It affects your rights. Except as stated below, you and we agree to resolve any dispute related to the App or these Terms through final, binding arbitration on an individual basis, not in court. Arbitration will be run by a recognized arbitration provider under its consumer rules.
Class action waiver: disputes will be handled only on an individual basis. Neither you nor we may bring or join a class, collective, or representative action.
Small-claims exception: either of us may bring an individual claim in small-claims court if it qualifies.
30-day opt-out: you may opt out of this arbitration agreement by emailing the owner within 30 days after you first accept these Terms. Include your name and a clear statement that you are opting out of arbitration. Opting out won't affect any other part of these Terms.
14. Governing law
These Terms are governed by the laws of the State of California, without regard to its conflict-of-law rules, and by the Federal Arbitration Act for the arbitration section. Any court case allowed under these Terms will be brought in the state or federal courts located in California.
15. Changes to these Terms
We may update these Terms. When we do, we'll change the version date and may ask you to accept the new version before you keep using the App. If you keep using the App after a change, you accept the updated Terms.
16. Other terms
If any part of these Terms is found unenforceable, the rest stays in effect. These Terms, the Risk Disclosure, the Privacy Policy, and the Simulated Results Disclosure are the whole agreement between you and us about the App.