📜 Terms of Service

Last Updated: 2026-02-09

1. Service Description

This platform ("Service") provides automated trading tools, strategy backtesting, and portfolio management software. The Service connects to third-party brokerage accounts via API to execute trades based on user-configured strategies.

1.1 What We Provide

• Trading automation software and tools
• Strategy backtesting and analysis via the "Compendium" — a collection of 30 algorithmic trading characters (see Strategy Disclosure for full details)
• Portfolio monitoring dashboards
• Educational content about trading strategies

1.2 What We Do NOT Provide

• Investment advice or recommendations
• Financial planning services
• Brokerage or custody services
• Guarantees of profit or performance

2. Not Financial Advice

You acknowledge and agree that:

• We are NOT registered as a securities broker-dealer, investment advisor, or in any similar capacity with any regulatory authority
• All trading strategies, signals, and automated actions are tools, NOT recommendations
• Past performance shown in backtests does NOT guarantee future results
• You are solely responsible for your own investment decisions
• You should consult with a qualified financial advisor before making investment decisions

3. BYOK (Bring Your Own Key) Model

This Service operates on a "Bring Your Own Key" model:

• You provide your own brokerage API credentials
• You maintain direct control of your brokerage account
• We never have custody of your funds
• Trades are executed through YOUR brokerage account
• You can revoke access at any time through your brokerage

3.1 API Key Security

• Your API keys are encrypted at rest using AES-256 encryption
• Keys are only decrypted during trade execution
• We recommend using API keys with trading permissions only (no withdrawal)
• You are responsible for safeguarding your credentials

3.2 Paper Trading vs. Live Trading

• Paper Trading Keys: Connect to Alpaca's paper trading environment. No real money is at risk. Performance is simulated against real market conditions.
• Live Trading Keys: Connect to your real brokerage account. Real money is at risk. All trades will be executed with actual funds.

When you provide live trading API keys, you acknowledge:

• You understand the difference between paper and live trading
• You accept full responsibility for trades executed in your account
• You have reviewed strategy performance in paper trading first (recommended)
• You can afford to lose the capital allocated to automated trading

3.3 Simulation Performance Data

The "Compendium" displays simulated trading results based on 2 years of historical market data (February 2024 – February 2026). You acknowledge:

• All performance metrics shown are from backtested simulations, NOT live trading
• Simulations use 2 years of minute-level market data across 114+ symbols
• Simulations start with a hypothetical $10,000 capital balance
• When simulation capital falls below $100, an additional $10,000 is added to continue data collection
• Total invested capital shown accounts for all such "refunds"
• Simulation results do not include slippage, commissions, or market impact
• Past simulated performance does NOT guarantee future results

4. Risk Disclosure

You acknowledge the following risks:

• Market Risk: Securities prices can be volatile and you may lose some or all of your investment
• Automation Risk: Automated trading systems may malfunction, execute unexpected trades, or fail to execute trades
• Technology Risk: Internet connectivity, server outages, or software bugs may affect trade execution
• Strategy Risk: Backtested strategies may not perform as expected in live markets
• Liquidity Risk: Some securities may not be tradeable at desired prices
• Regulatory Risk: Laws and regulations may change and affect your trading

4.1 Pattern Day Trader (PDT) Rule

If your account balance is below $25,000, you are subject to the Pattern Day Trader rule which limits day trades to 3 per 5 business days. Violations may result in account restrictions by your broker.

5. User Responsibilities

By using this Service, you agree to:

• Provide accurate information when creating your account
• Maintain the security of your account credentials
• Use only API keys for accounts you own and are authorized to trade
• Monitor your trading activity and agent performance
• Understand the strategies and risks before activating any agent
• Comply with all applicable laws and regulations
• Not use the Service for any illegal purpose
• Not attempt to reverse engineer, hack, or disrupt the Service

6. Limitation of Liability

IN NO EVENT SHALL OUR TOTAL LIABILITY EXCEED THE AMOUNT YOU PAID FOR THE SERVICE IN THE TWELVE (12) MONTHS PRECEDING THE CLAIM.

7. Indemnification

You agree to indemnify, defend, and hold harmless the Service and its operators, employees, and affiliates from any claims, damages, losses, or expenses (including reasonable attorney's fees) arising from:

• Your use of the Service
• Your violation of these Terms
• Your trading activities
• Any breach of your representations and warranties

8. Service Availability

• We strive for high availability but do not guarantee uninterrupted service
• We may modify, suspend, or discontinue the Service at any time
• Scheduled maintenance will be announced when possible
• We are not responsible for third-party service outages (brokerages, data providers)

9. Data Sources & Accuracy

This Service aggregates market data from multiple third-party sources:

9.1 Historical Data (Backtesting & Simulations)

• Source: Licensed market data providers
• Coverage: 2 years of minute-level OHLCV data (February 2024 – February 2026)
• Integrity: ~99.9% data completeness across 114+ symbols
• Accuracy: Best-effort; historical data may contain adjustments or corrections

9.2 Real-Time Stock Data

• Source: Third-party market data APIs
• Typical Delay: 1-15 minutes from real-time (not guaranteed)
• Availability: Subject to third-party terms; may become unavailable without notice
• Accuracy: Not guaranteed; may contain errors or omissions

9.3 Cryptocurrency Data (Real-Time)

• Source: Alpaca Markets (official API)
• Typical Delay: Less than 1 minute from real-time
• Availability: Subject to Alpaca's terms of service

9.3 Data Accuracy Disclaimer

You acknowledge and agree that:

• Market data may be delayed, incomplete, or inaccurate
• We make no warranties regarding data accuracy or timeliness
• You should verify critical data with your brokerage before trading
• Data source availability is outside our control
• We may change data sources at any time without notice

9. Subscription and Payment

• Subscription fees are billed in advance on a monthly or annual basis
• Fees are non-refundable except as required by law
• We may change pricing with 30 days notice
• Failure to pay may result in service suspension

10. Termination

• You may cancel your account at any time
• We may terminate accounts that violate these Terms
• Upon termination, your API keys will be deleted from our systems
• Sections 2, 4, 6, 7, and 11 survive termination

11. Governing Law & Disputes

These Terms are governed by the laws of the State of Arizona, without regard to conflict of law provisions. Any disputes shall be resolved through binding arbitration in accordance with the rules of the American Arbitration Association.

12. Changes to Terms

We may update these Terms at any time. Material changes will be notified via email or prominent notice on the Service. Continued use after changes constitutes acceptance of the new Terms.

13. Contact

For questions about these Terms, contact us at: legal@bened.works