Current implementation boundary: This unreviewed draft does not establish that a brokerage, execution, automation, notice, safeguard, or regulated feature is currently available. Availability depends on approved configuration, account, provider, jurisdiction, and applicable law.

APEX Trading Terminal — Terms of Service

_Last updated: May 17, 2026 (audit pass v2)_ _⚠️ Draft — Pending licensed-attorney review before publication. Not legal advice; no attorney-client relationship is created by this document._

_Changes v2 (2026-05-17): added AI-system transparency disclosure (§3.5) for EU AI Act limited-risk compliance; refreshed prediction-market language for Polymarket US re-launch (§7.4); strengthened marketing-language guard against FTC v. DoNotPay-style claims (§3.6); added export/sanctions clause (§8.1); tightened survival clause (§14)._

1. Agreement to Terms

By accessing or using the APEX Trading Terminal ("Platform", "Service", "we", "us", or "our"), you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, do not use the Platform.

These Terms constitute a legally binding agreement between you ("User", "you") and Silver Owl Studios LLC, a Florida limited liability company.

2. Description of Service

APEX Trading Terminal is a financial data, analytics, and trading interface platform that:

• Conditional draft statement; verify implementation and legal applicability before publication: Provides real-time and delayed market data for informational purposes
• Offers charting, screening, and analytical tools
• Conditional draft statement; verify implementation and legal applicability before publication: Connects to third-party licensed broker-dealers (including Alpaca Securities LLC) to facilitate order placement
• Provides AI-powered analytical commentary through NOVA-TRADER (our AI analysis engine)
• Displays prediction market data from third-party providers including Polymarket and Kalshi

APEX is not a broker-dealer, investment adviser, financial planner, or fiduciary. We do not execute trades directly. All trade execution is performed by your connected licensed broker (e.g., Alpaca Securities LLC, a FINRA/SIPC member).

3. ⚠️ Critical Disclaimer — Not Financial Advice

THIS IS THE MOST IMPORTANT SECTION. PLEASE READ CAREFULLY.

3.1 No Investment Advice

Nothing on the APEX Platform — including but not limited to market data, charts, screeners, alerts, news feeds, prediction market data, or AI-generated analysis — constitutes investment advice, financial advice, trading advice, legal advice, tax advice, or any other form of professional advice.

3.2 NOVA-TRADER AI Disclaimer

NOVA-TRADER is an AI-powered analytical tool that generates market commentary, trade ideas, and analysis based on publicly available data and algorithmic models. You expressly acknowledge and agree that:

• NOVA-TRADER output is informational and educational only
• NOVA-TRADER does not constitute personalized investment advice
• NOVA-TRADER output may be inaccurate, incomplete, or outdated
• NOVA-TRADER has no knowledge of your personal financial situation, risk tolerance, investment objectives, or tax circumstances
• You should not make investment decisions based solely on NOVA-TRADER output
• Past analysis does not guarantee future accuracy

3.3 Your Responsibility

Conditional draft statement; verify implementation and legal applicability before publication: All investment decisions are solely your responsibility. You should conduct your own research and consult with a licensed financial adviser, broker, or other qualified professional before making any investment decision.

3.4 Risk of Loss

Trading securities, options, futures, cryptocurrency, and other financial instruments involves significant risk of loss. You may lose some or all of your invested capital. Never invest money you cannot afford to lose.

3.5 AI System Transparency (EU AI Act compliance)

You are interacting with an artificial intelligence system when you use NOVA-TRADER or any AI-generated commentary, alerts, or summaries on the Platform. AI output is generated by large language models and algorithmic systems and is clearly labeled as such within the user interface. The Platform does not use AI to perform any prohibited practice under Regulation (EU) 2024/1689 (the "EU AI Act"), and to the extent applicable, AI features are operated as limited-risk systems subject to transparency obligations only. We do not represent NOVA-TRADER as a licensed professional, a fiduciary, or a substitute for human judgment.

3.6 No "AI Adviser" Representation

APEX does not market, describe, or sell NOVA-TRADER as "your AI financial adviser," "your AI broker," "your AI fiduciary," or any equivalent phrase that implies licensed-professional status. Any user-facing surface that suggests otherwise is unauthorized and not endorsed by APEX. (Reference: FTC v. DoNotPay, 2024 — $193,000 settlement for representing an AI as a licensed attorney.)

4. Eligibility

To use the Platform you must:

• Be at least 18 years of age (or the age of majority in your jurisdiction)
• Be a legal resident of the United States or another jurisdiction where the Service is available
• Have the legal capacity to enter into a binding agreement
• Not be prohibited from using the Service under applicable law
• Conditional draft statement; verify implementation and legal applicability before publication: Have a valid account with a supported broker-dealer (for trading features)

5. Account Registration

5.1 Account Creation

You must create an account to access most features of the Platform. You agree to provide accurate, current, and complete information during registration and to keep your account information updated.

5.2 Account Security

You are responsible for maintaining the confidentiality of your login credentials. You agree to notify us immediately at legal@silverowl.dev if you suspect unauthorized access to your account.

5.3 One Account Per User

You may only create one account per person. Creating multiple accounts to circumvent restrictions is prohibited.

6. Subscription Plans and Billing

The summary below is generated from the current repository plan configuration. Actual billing cadence, checkout eligibility, feature access, and provider availability must be confirmed on the current pricing and checkout surfaces.

Current repository plan summary

7. Third-Party Services and Broker Integration

7.1 Broker Accounts

To use trading features, you must have a valid account with a supported broker-dealer. Your broker relationship is governed by your broker's own terms of service, not these Terms. We are not responsible for your broker's actions, decisions, or platform availability.

7.2 Alpaca Securities LLC

Conditional draft statement; verify implementation and legal applicability before publication: When you connect an Alpaca account, you authorize APEX to transmit order instructions to Alpaca on your behalf. All trade execution, clearing, and custody is handled by Alpaca Securities LLC. Alpaca is a FINRA member and SIPC insured. We have no responsibility for orders once transmitted to Alpaca.

7.3 Market Data Providers

Market data is sourced from third-party providers including Polygon.io and others. We do not guarantee the accuracy, completeness, or timeliness of market data. Market data is provided "as is" for informational purposes only.

7.4 Prediction Market Data

Prediction market data from Polymarket and Kalshi is provided for informational purposes only.

• Polymarket: Following Polymarket's acquisition of QCX/QCEX and its return to the U.S. market in late 2025, Polymarket operates a CFTC-regulated Designated Contract Market (DCM) for U.S. participants. APEX displays Polymarket data but does not facilitate or execute Polymarket trades from within the Platform. Any trading on Polymarket is conducted directly with Polymarket under its own terms and registration framework.
• Kalshi: Kalshi is a CFTC-regulated DCM. Where Kalshi trading is offered through the Platform, it is subject to Kalshi's own terms, KYC, and CFTC regulations (including 17 CFR Parts 38 and 40 event-contract requirements). Event-contract availability varies by category, jurisdiction, and ongoing CFTC review; certain categories (e.g., election-related contracts) have been subject to changing regulatory treatment since 2024.
• APEX makes no representation about the legality of any specific prediction market contract in your jurisdiction. You are solely responsible for determining whether participation is lawful for you.

8. Acceptable Use

8.1 Prohibited Uses

You agree NOT to:

• Use the Platform for any illegal purpose or in violation of applicable laws
• Attempt to gain unauthorized access to any portion of the Platform
• Reverse engineer, decompile, or disassemble any part of the Platform
• Use automated bots, scrapers, or data harvesting tools without our written permission
• Manipulate market prices or engage in market manipulation (including spoofing, layering, wash trading, or coordinated activity in violation of Exchange Act §9(a) or §10(b))
• Share your account credentials with third parties
• Use the Platform to transmit spam, malware, or harmful code
• Impersonate any person or entity
• Violate any applicable securities laws or regulations
• Circumvent any access controls or security measures

8.2 Export Controls and Sanctions

You represent and warrant that (a) you are not located in, under the control of, or a national or resident of any country subject to a U.S. government embargo or designated as a "terrorist supporting" country (currently including, without limitation, Cuba, Iran, North Korea, Syria, the Crimea/Donetsk/Luhansk regions of Ukraine, and the Russian Federation to the extent covered by 31 CFR Part 587), and (b) you are not listed on any U.S. government list of prohibited or restricted parties, including the OFAC SDN list. The Platform and any technical data derived from it are subject to U.S. export laws including the Export Administration Regulations (15 CFR Parts 730–774).

9. Intellectual Property

9.1 Our Property

The Platform, including all content, features, functionality, software, trademarks, and logos, is owned by Silver Owl Studios LLC and protected by intellectual property laws.

9.2 Your License

We grant you a limited, non-exclusive, non-transferable, revocable license to use the Platform for your personal, non-commercial use in accordance with these Terms.

9.3 Your Content

You retain ownership of any content you submit to the Platform (e.g., custom watchlists, notes, strategy configurations). By submitting content, you grant us a license to use it to provide and improve the Service.

10. Privacy

Your use of the Platform is subject to our Privacy Policy, which is incorporated into these Terms by reference. By using the Platform, you consent to the collection, use, and sharing of your information as described in the Privacy Policy.

11. Disclaimers and Limitation of Liability

11.1 Disclaimer of Warranties

THE PLATFORM IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

WE DO NOT WARRANT THAT:

• THE PLATFORM WILL BE UNINTERRUPTED OR ERROR-FREE
• MARKET DATA WILL BE ACCURATE OR TIMELY
• AI ANALYSIS WILL BE ACCURATE OR PROFITABLE
• THE PLATFORM WILL MEET YOUR REQUIREMENTS

11.2 Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, Silver Owl Studios LLC AND ITS OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS SHALL NOT BE LIABLE FOR:

• ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES
• LOSS OF PROFITS, REVENUE, DATA, OR BUSINESS OPPORTUNITIES
• TRADING LOSSES INCURRED WHILE USING THE PLATFORM
• LOSSES RESULTING FROM RELIANCE ON AI-GENERATED ANALYSIS
• LOSSES DUE TO PLATFORM OUTAGES, DATA ERRORS, OR THIRD-PARTY FAILURES

OUR TOTAL LIABILITY TO YOU FOR ANY CLAIMS ARISING FROM THESE TERMS SHALL NOT EXCEED THE AMOUNT YOU PAID TO US IN THE 12 MONTHS PRECEDING THE CLAIM.

12. Indemnification

You agree to indemnify, defend, and hold harmless Silver Owl Studios LLC and its officers, directors, employees, and agents from any claims, damages, losses, liabilities, costs, and expenses (including reasonable attorneys' fees) arising from:

• Your use of the Platform
• Your violation of these Terms
• Your violation of any applicable law or regulation
• Your trading activities or investment decisions
• Any content you submit to the Platform

13. Governing Law and Dispute Resolution

13.1 Governing Law

These Terms are governed by the laws of the State of Florida, without regard to conflict of law principles.

13.2 Arbitration

Any dispute arising from these Terms or your use of the Platform shall be resolved by binding arbitration administered by the American Arbitration Association (AAA) under its Consumer Arbitration Rules, except that either party may seek injunctive relief in court for intellectual property violations.

13.3 Class Action Waiver

YOU WAIVE ANY RIGHT TO PARTICIPATE IN A CLASS ACTION LAWSUIT OR CLASS-WIDE ARBITRATION AGAINST Silver Owl Studios LLC.

13.4 Venue

For matters not subject to arbitration, you consent to exclusive jurisdiction in the state and federal courts located in Miami-Dade County, Florida.

14. Termination

We reserve the right to suspend or terminate your account at any time, with or without notice, for:

• Violation of these Terms
• Fraudulent or illegal activity
• Conduct harmful to other users or the Platform
• Non-payment of subscription fees

Upon termination, your right to use the Platform ceases immediately. Sections 3, 8.2, 9, 11, 12, 13, and 16 survive termination.

15. Modifications to Terms

We may modify these Terms at any time. We will notify you of material changes via email or in-app notification at least 14 days before the changes take effect. Continued use of the Platform after modifications constitutes acceptance of the updated Terms.

16. Miscellaneous

• Entire Agreement: These Terms, together with our Privacy Policy and Risk Disclosure, constitute the entire agreement between you and APEX regarding the Platform.
• Severability: If any provision of these Terms is found unenforceable, the remaining provisions remain in full force.
• No Waiver: Our failure to enforce any provision does not waive our right to enforce it in the future.
• Assignment: You may not assign your rights under these Terms without our written consent.

17. Contact

Silver Owl Studios LLC Email: legal@silverowl.dev Contact: legal@silverowl.dev

_For support: support@apexterminal.io_ _For security issues: security@apexterminal.io_