Terms and Conditions

You must be at least 18 years old and legally capable of entering into a binding agreement to use the Services.

By using the Services, you represent that:

• You meet these eligibility requirements.
• Your use of the Services is lawful in the jurisdiction where you reside or access the Services.
• You are not prohibited from using the Services under applicable law.
• Information you provide to Fearless Bull is accurate and not intentionally misleading.

The Services are primarily intended for persons interested in financial-market research and analytics.

Fearless Bull provides technology and quantitative analytical tools relating to financial markets.

Depending on the Service, Fearless Bull may provide information or analysis including:

• Market prices and market-derived information
• Quantitative market analysis
• Statistical models
• Probability estimates
• Expected-move calculations
• Price ranges and projections
• Volatility analysis
• Support and resistance levels
• Market-regime classifications
• Options-chain analysis
• Potential option-strike information
• Market structure analysis
• Historical analysis
• Backtesting and simulations
• Algorithmically generated reports
• Risk and reward calculations
• API-generated analytics
• Other quantitative or computational outputs

Some outputs may be generated automatically using mathematical models, statistical techniques, machine learning, artificial intelligence, proprietary algorithms, or combinations of these technologies.

Fearless Bull may add, remove, modify, replace, or discontinue analytical methodologies or features as the Services evolve.

Fearless Bull provides analytical and informational technology. Fearless Bull does not provide individualized investment advice through the Services unless expressly stated otherwise in a separate written agreement.

Information generated or displayed by the Services is provided for informational, analytical, research, and educational purposes.

Nothing provided through the Services should be construed solely by its presentation as:

• Personalized investment advice
• A recommendation to buy or sell a security or financial instrument
• A recommendation to implement a particular trading strategy
• A solicitation or offer to buy or sell securities
• Brokerage services
• Investment-management services
• Portfolio-management services
• Tax advice
• Accounting advice
• Legal advice

A security, option, strike price, expiration date, expected move, support or resistance level, probability, market regime, directional classification, entry or exit level, risk calculation, or other output appearing in the Services should not be interpreted by itself as an instruction to enter, modify, or exit a transaction.

You are solely responsible for determining whether any transaction, strategy, security, option, or other financial instrument is appropriate for you.

Unless Fearless Bull expressly enters into a separate written agreement stating otherwise, Fearless Bull:

• Is not your broker
• Does not maintain your brokerage account
• Does not hold your securities
• Does not take custody of customer investment funds
• Does not guarantee execution of transactions
• Does not control your broker’s execution
• Does not determine your brokerage permissions
• Does not guarantee that a broker will accept any transaction

Users execute transactions independently through brokers or other financial institutions selected by the user.

Your relationship with your broker is governed by your agreements with that broker.

Trading securities, options, futures, derivatives, leveraged products, and other financial instruments involves substantial risk.

You may lose some or all of the capital committed to a transaction.

Certain strategies may expose traders to losses exceeding the initial premium, collateral, or capital committed to a position.

Options can expire worthless.

Short options and certain leveraged or uncovered strategies may create substantial or theoretically unlimited losses.

Short-duration options, including same-day-expiration or 0DTE options, can experience extremely rapid changes in price, implied volatility, liquidity, delta, gamma, and other risk characteristics.

Small movements in the underlying instrument may produce disproportionately large changes in the value of an option close to expiration.

Market conditions may also make it difficult or impossible to enter or exit a position at an expected price.

You should understand the characteristics and risks of any instrument or strategy before trading it.

Fearless Bull may generate quantitative estimates concerning future market behavior.

These may include:

• Expected price ranges
• Probability bands
• Expected moves
• Volatility ranges
• Support and resistance zones
• Market-regime classifications
• Probability of touching or remaining within particular levels
• Estimated distributions
• Potential option strikes
• Risk metrics
• Other probabilistic or statistical outputs

These outputs are estimates produced from models and available data.

A probability is not a guarantee.

A statement that an event has a particular estimated probability does not mean that the event will occur, nor does a high estimated probability eliminate the possibility of a materially different outcome.

Financial markets may behave outside historical or modeled distributions.

Unexpected events, liquidity changes, volatility shocks, economic announcements, earnings, geopolitical events, trading halts, market structure changes, data errors, and other circumstances can cause actual outcomes to differ substantially from model outputs.

Quantitative models necessarily simplify real-world financial markets.

Models may rely on assumptions, historical relationships, volatility estimates, market data, statistical distributions, sampling methods, calibration techniques, or other inputs that may not remain valid.

Model outputs may be affected by:

• Insufficient historical observations
• Changing market regimes
• Extreme volatility
• Market gaps
• Illiquid securities or options
• Wide bid-ask spreads
• Corporate actions
• Earnings announcements
• Macroeconomic events
• Data-provider errors
• Delayed data
• Missing data
• Incorrect symbols
• Adjusted historical data
• Software errors
• Network failures
• Exchange disruptions
• Model assumptions
• Statistical uncertainty

Fearless Bull does not warrant that any model accurately represents current or future market conditions.

The Services may display backtested, simulated, modeled, hypothetical, or paper-trading results.

Hypothetical and backtested performance is not actual trading performance and does not guarantee future results.

Backtests and simulations may benefit from information, assumptions, selection criteria, optimization processes, or market conditions that would not have been available or achievable during actual trading.

Actual trading may differ because of factors including:

• Bid-ask spreads
• Slippage
• Commissions
• Exchange fees
• Brokerage fees
• Liquidity
• Partial fills
• Failed executions
• Assignment
• Exercise
• Margin requirements
• Market impact
• Execution latency
• Volatility changes
• Taxes
• Data availability

Unless expressly stated otherwise, reported hypothetical performance should not be assumed to incorporate every cost, constraint, or execution condition encountered in live trading.

No representation is made that any user will achieve results similar to those shown in a backtest, simulation, example, or hypothetical analysis.

Fearless Bull may obtain market and financial information from exchanges, brokers, market-data providers, financial-data vendors, public sources, or other third parties.

Such information may include:

• Prices
• Quotes
• Option chains
• Implied volatility
• Greeks
• Corporate information
• Earnings information
• Economic information
• Historical prices
• Trading calendars
• Other financial-market data

Market data may be delayed, incomplete, inaccurate, unavailable, or subject to correction.

Fearless Bull does not guarantee the accuracy, completeness, timeliness, or availability of third-party market data.

Before executing a transaction, users should independently verify material market information using their broker or another appropriate market-data source.

The Services may interact with or depend upon third-party providers, including hosting providers, cloud platforms, payment processors, market-data providers, brokers, exchanges, communications providers, and other technology services.

Fearless Bull currently may use providers including OVHcloud, Amazon Web Services (AWS), and Stripe.

Third-party services may become unavailable, change their APIs, modify their data, impose restrictions, experience outages, or discontinue functionality.

Fearless Bull is not responsible for acts, omissions, service interruptions, execution decisions, data errors, or independent policies of third parties outside Fearless Bull’s reasonable control.

Certain Services require an account.

You are responsible for:

• Maintaining accurate account information
• Protecting your password
• Protecting API credentials
• Maintaining control over authentication methods
• Preventing unauthorized access to your account
• Activity performed using your credentials

You may not share account credentials except where explicitly permitted by your subscription or written agreement with Fearless Bull.

You must notify Fearless Bull promptly if you reasonably believe your account or credentials have been compromised.

Fearless Bull may implement authentication, rate limiting, device controls, access restrictions, or other security mechanisms.

Certain Services may require a paid subscription.

Subscription pricing, features, usage limits, and billing periods will be displayed at the time of purchase or otherwise communicated before purchase.

Unless otherwise stated at checkout, subscriptions may automatically renew for successive billing periods until canceled.

By purchasing an automatically renewing subscription, you authorize Fearless Bull and its payment processor to charge the applicable recurring subscription fees using your selected payment method.

You may cancel renewal through the account functionality provided by Fearless Bull or by contacting us where appropriate.

Cancellation stops future renewals but does not ordinarily retroactively cancel a billing period that has already begun.

Fearless Bull may modify subscription prices upon reasonable advance notice. Price changes will generally apply to a subsequent renewal period rather than retroactively to a period already paid.

Applicable taxes may be added where required.

Except where otherwise stated at purchase or required by applicable law, subscription and usage fees are non-refundable once the applicable billing period or paid Service has begun.

Fearless Bull may, at its discretion, provide credits or refunds in exceptional circumstances.

Providing a refund or credit in one instance does not create an obligation to provide one in another instance.

Nothing in this section limits mandatory refund or cancellation rights that cannot legally be waived.

Fearless Bull may provide free trials, promotional subscriptions, credits, beta access, or other limited access.

Additional conditions may apply.

Fearless Bull may modify or terminate promotional programs and may restrict users from repeatedly creating accounts to obtain promotional benefits.

Fearless Bull may provide access to certain Services through APIs.

API access may be subject to:

• Authentication requirements
• Usage limits
• Rate limits
• Subscription tiers
• Data restrictions
• Licensing restrictions
• Technical requirements
• Separate API documentation or agreements

API credentials are confidential and may not be sold, transferred, published, or shared except as expressly authorized.

Fearless Bull may throttle, suspend, or terminate API access where necessary to protect the Services, enforce contractual limits, prevent abuse, comply with third-party data requirements, or maintain system stability.

You may use the Services only for lawful purposes and in accordance with these Terms.

You may not:

• Circumvent authentication or access controls
• Circumvent subscription restrictions
• Circumvent rate limits
• Gain unauthorized access to systems or accounts
• Interfere with Service operation
• Introduce malicious software
• Probe or exploit vulnerabilities without written authorization
• Use automated systems contrary to documented API rules
• Scrape the Services where scraping is not expressly authorized
• Redistribute restricted market data
• Resell Services without authorization
• Misrepresent Fearless Bull outputs as your own proprietary technology
• Use the Services in violation of applicable law

Fearless Bull may investigate suspected abuse and restrict access where reasonably necessary to protect the Services or other users.

The Services and the technology underlying them are owned by or licensed to Fearless Bull and are protected by applicable intellectual-property and other laws.

Except for third-party materials, Fearless Bull retains all rights, title, and interest in and to the Services and Fearless Bull Technology, including, where applicable:

• Software
• Source code
• Object code
• Quantitative models
• Algorithms
• Statistical methodologies
• Mathematical methodologies
• Market classification systems
• Probability models
• Forecasting techniques
• Calibration methods
• Analytical processes
• Model parameters
• Weighting methodologies
• Research
• Reports
• Visualizations
• User interfaces
• APIs
• Documentation
• Database structures
• Proprietary datasets and derived data
• Trademarks
• Trade names
• Logos
• Other proprietary technology and materials

Access to the Services does not transfer ownership of Fearless Bull Technology to you.

Subject to these Terms and payment of applicable fees, Fearless Bull grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable right to access and use the Services for the purposes permitted by your subscription.

Unless expressly authorized in writing, this license does not permit you to reproduce, commercialize, sublicense, redistribute, or create a competing service using Fearless Bull Technology.

All rights not expressly granted are reserved by Fearless Bull.

To protect Fearless Bull’s proprietary quantitative technology and trade secrets, you may not, except to the extent a restriction is prohibited by applicable law:

• Reverse engineer Fearless Bull Technology
• Attempt to derive source code
• Attempt to discover proprietary algorithms
• Reconstruct model parameters
• Infer proprietary weighting systems
• Systematically query the Services to replicate a model
• Extract sufficient outputs to reproduce proprietary methodologies
• Perform automated model extraction
• Scrape outputs to create a competing dataset or analytical product
• Circumvent technical restrictions intended to prevent extraction
• Use Fearless Bull outputs to train or calibrate a substantially competing financial model or service
• Benchmark the Services for the primary purpose of developing or improving a directly competing commercial product without written authorization

Ordinary evaluation of the Services for a user’s own purchasing or trading-analysis purposes is not prohibited by this section.

Subject to these Terms and your applicable subscription, you may use reports and analytical outputs generated for you for your own permitted purposes.

Your right to use an output does not transfer ownership of the underlying Fearless Bull Technology that generated it.

Fearless Bull may impose additional restrictions on redistribution, publication, resale, or commercial use of reports or data where required by third-party data licenses or applicable subscription terms.

You retain ownership of information and materials that you lawfully submit to Fearless Bull.

You grant Fearless Bull a limited right to process those materials as reasonably necessary to provide, secure, operate, support, and improve the Services in accordance with our Privacy Policy.

Fearless Bull does not acquire ownership of your proprietary trading strategy merely because you use the Services to analyze it.

Our handling of customer analytical inputs and personal information is further described in the Privacy Policy.

Fearless Bull seeks to provide reliable Services but does not guarantee uninterrupted availability.

Services may be unavailable because of:

• Maintenance
• Infrastructure failures
• Third-party outages
• Data-provider outages
• Internet failures
• Software defects
• Cybersecurity incidents
• Excessive demand
• Exchange disruptions
• Force majeure events
• Other circumstances

Fearless Bull may modify, suspend, or discontinue portions of the Services.

Where commercially reasonable, Fearless Bull may provide notice of material changes, but emergency maintenance or circumstances outside our control may make advance notice impractical.

Fearless Bull may designate certain features as beta, preview, experimental, research, or otherwise pre-release.

Such features may be incomplete, inaccurate, unstable, or changed without notice.

You should not rely on experimental features for decisions requiring a level of reliability that the feature is not represented as providing.

Fearless Bull operates from the United States and primarily serves users interested in U.S. financial markets.

The Services may nevertheless be accessible internationally.

Availability of a website or Service in a particular country does not constitute a representation that Fearless Bull’s Services, securities, financial instruments, or trading strategies are legally available or appropriate in that jurisdiction.

International users are responsible for determining:

• Whether they may lawfully access the Services
• Whether they may trade the relevant financial instruments
• Whether their broker permits the contemplated transactions
• Whether local licensing, tax, reporting, foreign-exchange, or other requirements apply

Fearless Bull does not represent that the Services comply with every law applicable in every jurisdiction from which the Services may be accessible.

You are responsible for taxes, reporting obligations, and other governmental charges associated with your trading activities or use of the Services, except taxes imposed directly on Fearless Bull that Fearless Bull is legally required to pay.

Fearless Bull does not provide tax advice.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE.”

FEARLESS BULL DISCLAIMS WARRANTIES, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, ACCURACY, AVAILABILITY, AND RELIABILITY.

FEARLESS BULL DOES NOT WARRANT THAT:

• THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE;
• MARKET DATA WILL ALWAYS BE ACCURATE OR CURRENT;
• ANALYTICAL OUTPUTS WILL PREDICT MARKET BEHAVIOR;
• A PARTICULAR STRATEGY WILL BE PROFITABLE;
• A PARTICULAR PROBABILITY WILL BE REALIZED;
• A PARTICULAR TRADE WILL BE EXECUTABLE;
• USE OF THE SERVICES WILL PREVENT TRADING LOSSES.

Some jurisdictions do not permit certain warranty exclusions, so portions of this section may not apply to you.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, FEARLESS BULL AND ITS MEMBERS, MANAGERS, OFFICERS, EMPLOYEES, CONTRACTORS, AFFILIATES, AND SERVICE PROVIDERS WILL NOT BE LIABLE FOR INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, CONSEQUENTIAL, OR PUNITIVE DAMAGES ARISING FROM OR RELATED TO THE SERVICES.

THIS INCLUDES, TO THE EXTENT PERMITTED BY LAW, DAMAGES ARISING FROM:

• TRADING LOSSES
• LOST PROFITS
• LOST OPPORTUNITIES
• LOST DATA
• MARKET MOVEMENTS
• MODEL OUTPUTS
• DATA ERRORS
• SERVICE INTERRUPTIONS
• THIRD-PARTY SERVICES
• FAILED OR DELAYED TRANSACTIONS
• RELIANCE ON ANALYTICAL OUTPUTS

TO THE MAXIMUM EXTENT PERMITTED BY LAW, FEARLESS BULL’S AGGREGATE LIABILITY ARISING FROM OR RELATING TO THE SERVICES OR THESE TERMS WILL NOT EXCEED THE GREATER OF:

(A) THE AMOUNT YOU PAID TO FEARLESS BULL FOR THE SERVICES DURING THE TWELVE MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM; OR

(B) US $100.

The limitations in this section apply regardless of the legal theory asserted and even if Fearless Bull has been advised that damages are possible.

Nothing in these Terms excludes liability that cannot legally be excluded.

To the extent permitted by applicable law, you agree to indemnify, defend, and hold harmless Fearless Bull and its members, managers, officers, employees, contractors, and affiliates from claims, liabilities, damages, losses, and reasonable expenses arising from:

• Your unlawful use of the Services
• Your material violation of these Terms
• Your infringement of third-party rights
• Content or information you unlawfully submit through the Services
• Unauthorized use of your account resulting from your failure to reasonably protect your credentials

This section does not require indemnification to the extent a claim results from Fearless Bull’s own conduct for which indemnification may not lawfully be required.

Fearless Bull may suspend or terminate access to the Services where reasonably necessary because of:

• Material violation of these Terms
• Nonpayment
• Fraud
• Security threats
• Unauthorized redistribution
• Reverse engineering or model extraction
• API abuse
• Illegal activity
• Threats to Service integrity
• Requirements imposed by law or third-party providers

You may stop using the Services at any time.

Termination does not eliminate obligations that by their nature should survive termination, including intellectual-property protections, payment obligations accrued before termination, liability limitations, dispute provisions, and other surviving rights.

By using the Services, you consent to receive operational communications electronically, including account notices, security alerts, billing communications, and changes to these Terms or the Services.

Where required by law, marketing communications will be handled separately and applicable opt-out mechanisms will be provided.

Fearless Bull may update these Terms to reflect changes in the Services, technology, business practices, legal requirements, or risk considerations.

The “Last Updated” date will identify the latest revision.

If a change is material, Fearless Bull may provide additional notice where appropriate.

Where required by applicable law, we will obtain consent before applying a change.

Continued use of the Services after revised Terms become effective constitutes acceptance of the revised Terms to the extent permitted by law.

These Terms and disputes arising from them will be governed by the laws of the State of Florida, without regard to conflict-of-law principles, except where applicable law requires otherwise.

Before initiating formal litigation, you and Fearless Bull agree to make a reasonable good-faith effort to resolve a dispute informally.

A party seeking informal resolution should provide written notice describing the dispute and requested resolution.

If the dispute cannot be resolved informally, and unless applicable law requires otherwise, disputes arising from these Terms or the Services will be brought in the state or federal courts having jurisdiction over Miami-Dade County, Florida, and each party consents to personal jurisdiction and venue in those courts.

Nothing in this section prevents either party from seeking appropriate temporary or injunctive relief concerning unauthorized access, cybersecurity incidents, intellectual-property infringement, trade-secret misappropriation, or similar urgent matters.

If any provision of these Terms is determined to be invalid or unenforceable, that provision will be enforced to the maximum extent legally permissible or, where necessary, severed.

The remaining provisions will remain in effect.

Failure by Fearless Bull to enforce a provision of these Terms does not constitute a waiver of that provision or any other right.

You may not assign or transfer your rights or obligations under these Terms without Fearless Bull’s prior written consent.

Fearless Bull may assign these Terms in connection with a merger, acquisition, corporate restructuring, sale of assets, financing transaction, transfer of the Services, or transfer of relevant intellectual property, subject to applicable law.

These Terms, together with the Privacy Policy and any additional terms expressly applicable to a particular subscription, API, feature, or Service, constitute the agreement between you and Fearless Bull concerning your use of the Services.

If separate written terms expressly conflict with these Terms, the more specific terms will control with respect to the subject matter they cover.

Questions regarding these Terms may be directed to: