Terms of service

Version 23 September 2026 · Last updated 23 September 2026

1. Agreement

These terms are a contract between you and The Alpha Desk ("we", "us"), the operator of The Alpha Desk (the "Service"). By creating an account or using the Service you accept them. If you don't accept them, don't use the Service.

You must be at least 18 years old and legally able to enter a contract where you live.

2. What the Service is — and is not

The Service produces written analysis, explanation and educational material about financial markets, generated in response to your questions and informed by market data and by written methodology maintained by us.

The Service is not:

• a registered investment adviser, broker-dealer, or tax, legal or accounting adviser;
• a personal recommendation to buy, sell or hold any security, and not an offer or solicitation to do so;
• a fiduciary. We owe you no duty of care in respect of your investment decisions;
• connected to any brokerage or bank account of yours. It cannot place a trade or move money.

Output may be incomplete, out of date, or wrong. It may reflect the methodology we maintain, which is one view among many and may be unsuitable for you. You are solely responsible for your investment decisions and their consequences. Investing involves risk, including total loss of the amount invested.

3. Market data

Market data shown in the Service is obtained from third-party sources. It may be delayed, interrupted, inaccurate or incomplete, and we do not warrant it. Do not rely on it for time-sensitive execution decisions. Use of market data is subject to the restrictions of the relevant providers. The permission to circulate your analysis internally in section 5 does not permit you to redistribute or resell a provider’s underlying market data.

4. Your account

You are responsible for keeping your credentials secure and for everything that happens under your account. Tell us promptly at [email protected] if you suspect unauthorised access. One account is for one person — don't share logins.

5. Term licences

New direct purchases are monthly or annual subscriptions. The checkout records the customer, selected billing period, included capabilities and fee. Existing applications and previously issued offers retain their agreed billing model and terms.

• Term and payment. Monthly subscriptions are charged USD 49 each month. Annual subscriptions are charged USD 468 upfront each year, equivalent to USD 39 / month. Fees are in US dollars, plus any applicable tax disclosed before payment. Access starts when payment is confirmed; your account records the exact paid-period and renewal dates.
• Automatic renewal and cancellation. A subscription renews for the same billing period at the agreed fee and charges the payment method authorised at checkout, unless you stop renewal from your account before the next billing date. Cancellation stops the next renewal and does not end access during an already paid period. Payments remain subject to the terms agreed for that purchase. Existing fixed-term licences end on their agreed end date and do not renew or charge again without a new agreed order.
• Payments and cancellation. These payment terms apply where this version is attached to your saved offer or purchase; your offer and account show the applicable terms. Payments are non-refundable except where required by applicable law or expressly provided in the terms agreed with you. Cancelling a subscription stops future renewal; access remains available through the end of the paid term. Existing purchases and previously issued offers keep their agreed payment and refund terms. Nothing in these terms removes rights that applicable law does not allow us to exclude.
• No mid-term reduction. Capabilities listed on your order form will remain available for the whole of the paid term. If we materially reduce them, you are entitled to a pro-rata refund of the fee for the unexpired portion. This clause takes precedence over section 8.
• Seats. A seat is one named individual. Output may be reproduced inside the licensee's own organisation for its internal use. It may not be redistributed outside that organisation, published, or used to provide a service to third parties.
• Fee changes. The fee accepted at checkout applies to the initial period and automatic renewals. A different fee requires your agreement before it takes effect. Existing private offers retain their agreed fee and renewal terms.

An annual subscription includes two scheduled written reviews and six direct escalations to a person as a bonus, counted on the order form. These counts do not reduce at renewal for an existing licensee.

Your order shows the term and fee before payment. Airwallex processes payment details directly; we do not store card numbers.

6. Acceptable use

Don't:

• present the Service's output as personalised advice to other people, or resell it as an advisory service;
• scrape, mirror, or use the Service to build a competing product;
• attempt to extract, reverse-engineer or reproduce our underlying methodology, prompts, or system components;
• circumvent usage limits, rate limits or access controls;
• use the Service for anything unlawful, including market manipulation or trading on material non-public information.

We may suspend or close an account that breaches this section.

7. Your content and ours

What you type stays yours. You grant us a limited licence to process it in order to operate the Service, produce your answers, maintain your conversation history and check the quality of the desk’s work. Conversation content and retained attachments follow the retention and deletion terms in the privacy policy. We may use aggregated, de-identified usage information to improve the Service.

The Service itself — including our methodology, playbooks, interface and software — is ours and is protected by intellectual property law. Output generated for you is yours to use for your own purposes, subject to section 6.

8. Availability and changes

We aim to keep the Service running but we do not guarantee uninterrupted availability. We may modify, suspend or discontinue features. If we discontinue a paid feature materially, you may cancel and we'll refund the unused portion of your current period.

9. Disclaimer of warranties

To the fullest extent permitted by law, the Service is provided "as is" and "as available", without warranty of any kind — express or implied — including merchantability, fitness for a particular purpose, accuracy, and non-infringement. We do not warrant that any output is correct, complete, current or suitable for you.

10. Limitation of liability

To the fullest extent permitted by law, we are not liable for any trading or investment losses, lost profits, lost opportunity, or any indirect, incidental, special, consequential or punitive damages arising out of your use of the Service — whether or not we were advised such damages were possible.

Our total aggregate liability for any claim relating to the Service is limited to the greater of (a) the amount you paid us in the 12 months before the claim arose, or (b) USD $100.

Some jurisdictions don't allow certain exclusions; where that's the case, the above applies to the maximum extent permitted.

11. Indemnity

You'll indemnify us against claims, losses and reasonable legal costs arising from your misuse of the Service, your breach of these terms, or your presentation of Service output to third parties as advice.

12. Questions and disputes

The Service's legal jurisdiction is Hong Kong.

For a concern about the service, a fee or these terms, contact [email protected] so we can discuss it with you. Nothing in these terms removes rights that applicable law does not allow to be excluded.

13. Changes to these terms

We may update these terms. If a change is material we'll notify you by email or in the product at least 14 days before it takes effect. Continuing to use the Service after that means you accept the updated terms. Changes do not replace the payment and refund terms of an existing purchase or a previously issued offer.

14. Contact

The Alpha Desk · [email protected]