1. Agreement to Terms
By accessing or using Merkapital ("the Platform", "we", "us", or "our") at https://merkapitalresearch.com/ or any related services, you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, do not use the Platform.
2. Description of Service
Merkapital provides quantitative portfolio intelligence tools including: stock screening, Monte Carlo simulation, probability-based portfolio construction, confidence scoring, track record analysis, backtesting, and research reports. The Platform uses multi-factor analysis, peer-reviewed financial research, and third-party market data to generate informational outputs. The Platform is a research and analytical tool only—it does not provide investment advice, brokerage, custodial, or advisory services.
3. Not Investment Advice
The Platform does not constitute investment advice, a recommendation, or an offer or solicitation to buy or sell any security. All outputs—including confidence scores, probability estimates, portfolio recommendations, and simulation results—are for informational purposes only. They are based on historical data, assumptions, and quantitative models that may not hold in future market conditions. Past performance of the underlying research factors does not guarantee future results.
You are solely responsible for your investment decisions. You should consult a qualified financial advisor, tax professional, or legal counsel before making any investment. We do not consider your financial situation, risk tolerance, investment objectives, or time horizon.
4. Data & Limitations
Market data, analyst estimates, and fundamental information are sourced from third parties (including Alpha Vantage) and reflect publicly available information at the time of the last data refresh. Data may be delayed, incomplete, or inaccurate. We do not warrant the accuracy, completeness, or timeliness of any data. Monte Carlo simulations use simplified assumptions (e.g., log-normal returns, constant volatility, independence between stocks) that may not hold in extreme market conditions.
The equal-weight portfolio construction does not account for transaction costs, taxes, or liquidity constraints. Investors should consider their own risk tolerance, investment horizon, and tax situation before acting on any model output.
5. User Accounts
You may create an account or sign in via email (magic link) or Google OAuth. You are responsible for maintaining the confidentiality of your account credentials and for all activities under your account. You must provide accurate, current information and notify us promptly of any unauthorized use.
6. Acceptable Use
You agree not to: (a) use the Platform for any illegal purpose or in violation of any applicable laws; (b) attempt to gain unauthorized access to the Platform, other accounts, or our systems; (c) interfere with or disrupt the Platform or its servers; (d) scrape, reverse engineer, or automate access beyond normal use; (e) use the Platform to distribute malware or spam; (f) use the Platform in a manner that could harm or impair the experience of other users; or (g) misrepresent your identity or affiliation.
7. Intellectual Property
The Platform, including its design, methodology, software, content, and "Merkapital", "Merkapital Simulation Engine™", and "Merkapital Confidence Score™" and related marks, are owned by us or our licensors. You may not copy, modify, distribute, or create derivative works without our prior written consent. You may use the Platform for personal, non-commercial use in accordance with these Terms.
8. Disclaimers
THE PLATFORM IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED. We disclaim all warranties, including merchantability, fitness for a particular purpose, non-infringement, and accuracy. We do not warrant that the Platform will be uninterrupted, error-free, or secure. We are not responsible for any third-party data, services, or content.
9. Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL WE OR OUR AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES—including loss of profits, data, or goodwill—arising from your use of the Platform or reliance on any outputs, even if advised of the possibility of such damages. Our total liability shall not exceed the aggregate amount you paid us in the twelve (12) months preceding the claim, or one hundred dollars ($100), whichever is greater.
You acknowledge that investment losses may result from your use of informational outputs. We are not liable for any trading losses, missed opportunities, or other financial harm.
10. Indemnification
You agree to indemnify, defend, and hold harmless Merkapital and its affiliates, officers, directors, employees, and agents from any claims, damages, losses, or expenses (including reasonable attorneys' fees) arising from your use of the Platform, violation of these Terms, or infringement of any third-party rights.
11. Termination
We may suspend or terminate your access to the Platform at any time, with or without cause or notice. You may stop using the Platform at any time. Upon termination, your right to use the Platform ceases immediately. Sections that by their nature should survive (including disclaimers, limitation of liability, indemnification, and governing law) shall survive.
12. Modifications
We may modify these Terms at any time. We will post the updated Terms on the Platform and update the "Last updated" date. Your continued use of the Platform after such changes constitutes acceptance of the modified Terms. If you do not agree, discontinue use.
13. Governing Law & Disputes
These Terms are governed by the laws of the United States and the State of Delaware, without regard to conflict of law principles. Any dispute arising from these Terms or the Platform shall be resolved exclusively in the state or federal courts located in Delaware, and you consent to personal jurisdiction.
14. General
These Terms, together with our Privacy Policy, constitute the entire agreement between you and Merkapital. If any provision is held invalid, the remaining provisions remain in effect. Our failure to enforce any right does not waive that right. You may not assign these Terms without our consent; we may assign them without restriction.
15. Contact
For questions about these Terms, contact us at the contact information provided on the Platform.