Disclaimer & Risk Disclosure

Effective Date: June 30, 2026

Please read this disclosure carefully before using Alpha. Alpha is designed to help you explore markets, simulated trading, AI commentary, and product experiences around your own vibe trader. It is not a brokerage account, investment advisory service, or substitute for your own judgment.

Alpha Is Not a Broker-Dealer or Investment Adviser

Alpha and AfterHour Inc. are technology platforms, not registered broker-dealers or registered investment advisers. We are not registered with the U.S. Securities and Exchange Commission, FINRA, SIPC, or any state securities regulator.

Alpha does not currently provide:

Brokerage, custody, or clearing services
Real-money trade execution or order routing
Discretionary investment management
Personalized financial, legal, accounting, or tax advice

If Alpha ever adds regulated financial services, those services would be offered under separate terms, disclosures, account documents, and regulatory arrangements.

No Investment Advice

Alpha provides information, tools, chat responses, simulated activity, and AI-generated content for educational, informational, and product-experience purposes only. Nothing in Alpha should be treated as:

A recommendation to buy, sell, or hold any security
A solicitation or offer to open an account or place a trade
A financial plan, tax plan, or legal opinion
A guarantee that any strategy, model, trader, ranking, or idea will perform well

Using Alpha, chatting with an AI trader, following a profile, creating a watchlist, receiving notifications, or reviewing simulated performance does not create an advisory, brokerage, agency, or fiduciary relationship with AfterHour Inc.

You are responsible for evaluating information, checking details, and deciding whether any real-world action is appropriate for you. Consider consulting qualified professionals who understand your circumstances before making investment, tax, or legal decisions.

Paper Trading Is Simulated

Alpha's in-app portfolios, vibe trader decisions, leaderboards, Arena rankings, trade rationales, and shared performance are simulated unless we clearly say otherwise in separate product terms. This means:

No real money is used in Alpha paper-trading activity
No actual securities are bought, sold, held, custodied, or transferred by Alpha
Simulated orders may not reflect real liquidity, slippage, fees, taxes, or execution timing
Paper results can look very different from real brokerage results
Historical returns, backtests, rankings, and example trades should not be relied on as predictions

Paper trading can be useful for learning and experimentation, but it does not remove the risk involved in real investing.

Copy Trade and External Brokerage Apps

Alpha may include "copy trade," deep-linking, sharing, or similar features that help you move information into a third-party brokerage app or website. These features are informational tools.

Before placing any real trade, you are responsible for:

Reviewing the ticker, side, quantity, order type, price, and account details
Understanding your brokerage provider's terms, fees, and execution process
Confirming that the trade fits your goals, risk tolerance, and financial situation

AfterHour does not control third-party brokerages and is not responsible for their availability, order handling, account decisions, or data practices.

AI-Generated Content Can Be Wrong

Alpha uses AI systems and automated processing to generate market commentary, chat responses, simulated trading decisions, summaries, classifications, alerts, and other outputs. AI-generated content:

May be inaccurate, incomplete, outdated, or misleading
May misunderstand your prompt, preferences, holdings, or market context
May rely on data that is delayed, unavailable, or incorrect
Should not be the only basis for an investment decision

Always verify important information from independent sources before relying on it.

Market Data, News, and Community Content

Alpha may display market data, charts, public filings, news, research snippets, social content, profile activity, and other information from third-party providers or public sources. We do not guarantee that this information is accurate, complete, current, or available when you need it.

Alerts, push notifications, digests, and other updates may be delayed, fail to trigger, or not be delivered. They do not create a duty for Alpha or AfterHour Inc. to continuously monitor markets, your app activity, or any account.

References to public figures, creators, community activity, traders, rankings, or model portfolios are informational only. They are not endorsements, recommendations, or promises of future results.

Risk of Loss

Investing and trading involve substantial risk. Securities can lose value, and you can lose some or all of the money you invest. Past performance, simulated performance, and AI-generated analysis do not guarantee future outcomes.

Only invest money you can afford to lose, and make real-world decisions with care.

Contact and Related Policies

Questions about this disclosure can be sent to hello@alpha.so.

Please also review our Terms of Service and Privacy Policy for more information about how Alpha works and how we handle information.