Risk Disclosures

This page outlines the most important disclosures regarding the use of Spell Trade Pro. It is presented in plain language. Please read it in full before using the Service.

1. Spell Trade Pro is a software platform, not an adviser

We are not a registered investment adviser, a broker-dealer, a fiduciary, or a financial planner. We do not provide personalized investment advice. The Service is a research and workflow tool. Decisions about whether to buy, sell, or hold any security are yours alone.

2. AI output may be wrong

Spella, the AI analyst built into the Service, is powered by large language models. It can:

• Misinterpret data.
• Hallucinate facts that are not in the source material.
• Apply outdated reasoning.
• Be confidently wrong.

Every Spella output includes a confidence score and the underlying data inputs. Always verify the analysis against primary sources before acting on it.

3. Past performance is not indicative of future results

Backtests, historical equity curves, and any performance figures shown on the platform are simulations. They reflect what a strategy would have done on past data using simplifying assumptions (e.g., fixed-bps fees, no slippage, no market impact). Real-world execution will differ - sometimes substantially.

4. Strategies can underperform passive benchmarks

Most active and rules-based strategies underperform a passive S&P 500 index over long horizons after fees and taxes. The Service does not promise market-beating returns. We strongly encourage you to compare any strategy you build against a buy-and-hold benchmark within the Service's backtester before considering live deployment.

5. Trading involves substantial risk of loss

Securities trading is inherently risky. You may lose some or all of the capital you deploy. Margin trading, options, and short selling amplify these risks. Only trade with capital you can afford to lose entirely.

6. We do not custody your funds

Trade execution and asset custody are provided by third-party brokerages that you connect to the Service. Your money never sits with Spell. Disputes about trade execution, account access, or fund movement are between you and your brokerage.

7. Free-tier market data has limitations

During the MVP phase, the Service uses Alpaca's free IEX market-data feed. IEX represents a small slice of US equity volume, and quotes outside regular trading hours may be wide or stale. For latency-sensitive strategies, premium SIP-grade data is recommended.

8. Live trading is gated

The Service distinguishes between paper (simulated) and live (real-money) trading modes. New users operate in paper mode by default. Activating live mode requires explicit, deliberate action and acknowledges the risks above. Even once live, the Service enforces hard server-side risk limits (position size, daily loss, leverage, order rate) before any order is submitted to the brokerage.

9. Kill switch

The Service includes a kill switch that, when activated, blocks all new order submissions. The kill switch should be considered a stop-the-bleeding tool, not a substitute for prudent strategy design.

10. Compliance posture

• The Service is currently offered to United States users only.
• The Service does not provide tax advice.
• The Service does not provide legal or accounting advice.
• If you require personalized investment advice, consult a registered investment adviser in your jurisdiction.

11. Forward-looking statements

Marketing materials and product copy may contain forward-looking statements about the Service's capabilities. These statements are aspirational; actual capabilities may differ. We update product copy as features ship.

12. Reporting concerns

If you encounter what appears to be inaccurate information, misleading copy, or a risk-control failure, please report it to safety@spelltradepro.com.

These disclosures have not been reviewed by counsel and are an interim boilerplate suitable for the internal MVP phase. They will be replaced by a securities-attorney-reviewed disclosure package before public commercial release.