Terms of Service

What Fractionax is

Fractionax is a tool for researching and learning about investments. It analyses assets, shows what its models and public sources say about them, and lets you practise with a simulated portfolio. It also has a real trading mode, which is off unless it is switched on and you turn it on for your account.

• Paper trading is the default. Trades in paper mode are simulated: no real money is used and no order is sent to any market.
• Real trading mode, where it is on, lets you buy and sell tokens that track US stocks and funds, on the Solana blockchain, from your own wallet. Fractionax shows you a quote and checks, and you sign each trade yourself. We do not hold your money or assets, and we do not place a trade for you.
• Not advice. Nothing on Fractionax is financial, investment, legal or tax advice, or an offer or invitation to buy or sell anything. Read the Risk Warning.

Real trading mode is covered by its own section below, which applies when you use it.

Who can use it

You must be at least 18 and able to enter a binding agreement. You must not use Fractionax if the law of your country forbids it, or if you are subject to sanctions that prevent it.

Your account

You sign in through Privy, with an email address or a Google account. Keep your sign-in details and your devices secure. You are responsible for what happens under your account. Tell us promptly if you think someone else has used it.

The information we show

Prices, company filings, analyst views, news and economic data come from third parties, some of them public pages that are not official feeds. They may be delayed, incomplete, revised or wrong, and they may stop being available.

Valuations, scores, proposals and exposure figures are produced by our models from that data and from assumptions we make. They are unreviewed proposals unless a page says a person has reviewed them. They describe the past or give one view of the future. They are not predictions and not recommendations.

Your risk profile

The risk questionnaire measures how you say you feel about losing money, and what you tell us about your situation. The result is a self-assessment worked out from your own answers. It is not financial advice, and it is not an assessment of whether any investment is suitable for you.

The result is only as good as your answers. We use it to suggest limits, to compare assets and your portfolio with what you said you could stand, and to suggest how large a holding might be. These are guides drawn from past price movements. They do not predict what will happen, and they cannot protect you from loss. You decide what to do, and you can redo the questionnaire at any time.

Paper trading

Simulated results are hypothetical. They do not include real trading costs, taxes, delays or the effect that placing real orders would have on prices, and real markets may not give you the prices a simulation shows. Do not treat simulated performance as a guide to what real investing would achieve.

Real trading mode

This section applies only if you use real trading mode.

• Who may use it. You must not be a US person, and you must be allowed to buy these tokens where you live. The companies that issue them do not offer them to US persons. You confirm this before you can turn the mode on, and you are responsible for it being true.
• Your wallet and your keys. Trades are made from a Solana wallet that you control: the one created for your account by our sign-in provider, or one of your own that you connect, such as Phantom, Jupiter or Solflare. We never hold your money or assets, and each trade moves funds in your wallet only when you sign it. You are responsible for the wallet you choose, for keeping its keys and recovery details safe, and for what a wallet app or extension you connect can do.
• You sign every trade. We prepare a transaction and show you the quote and checks, and nothing is sent unless you confirm and sign it. A trade on a blockchain cannot be undone.
• Your risk profile. You need a current risk profile, made by answering the risk questionnaire, before you can turn the mode on or make a trade. It is a self-assessment, not advice, and it does not decide whether a trade is suitable for you.
• Limits. Real trading starts with small limits for each trade and each day. You can lower them, and raise them only up to a ceiling we set. We may lower the ceilings, or switch real trading off, at any time.
• Third parties. Quotes and transactions come from Jupiter, a swap service for the Solana blockchain. Trades are carried out by the Solana network. The tokens come from their issuers, and their terms apply to you. We do not control any of them.
• Costs. You pay the network fee, and the price you get includes what the trading venues charge. The price you are quoted can move before the trade lands, up to the limit you set, or the trade fails.
• No promise of a result. A quote is not a guarantee. A trade can fail, take longer than expected, or settle at a different price within your limit. A token is not a share, and its price can differ from the stock's.
• Your taxes. You are responsible for any tax on your trades.

We check each trade against your limits and against the market before we prepare it, but these checks are not advice and cannot remove the risks in the Risk Warning.

The AI assistant

The assistant uses an AI model. It can be wrong, can sound more certain than it should, and can miss things. It works from what you tell it and from the data above. It may say what it would buy or sell in your simulated portfolio, but that is a simulation, not regulated financial advice. You decide what to do, and you are responsible for it.

Do not tell the assistant passwords, payment details or government identity numbers. What you write is sent to our AI provider, as the Privacy Policy explains.

Fair use of the assistant and reports

Each plan includes a number of assistant questions a month. A question is one message you send to the assistant. Its answer, and any research it does to give that answer, count as part of that question.

• Practice: 30 questions a month.
• Pro: 300 questions a month.
• Extra packs: a Pro member can add a pack of 100 questions for $4, up to 1,000 questions a month in total.

Questions reset at the start of each month, and unused ones do not carry over. If you reach your limit, the assistant pauses until the next month, until you add a pack, or until you move to a plan with a higher limit. The rest of your account keeps working. If you need more than 1,000 questions a month, contact us about Teams.

Valuation reports. A valuation report is the model's assumptions and the underwriting memo for one asset. Practice can open the report for 3 assets a month, and you choose which. Opening one you have already opened that month costs nothing, and you can download its memo for as long as it is open. Pro can open the report for every asset.

The portfolio stress test, longer chart history and alerts on assets you follow are part of Pro.

We set these limits because each question and each report costs us money to produce. We may change them, and we will tell you before we do. We may slow or stop use that looks automated or abusive.

Paying for Pro

Pro is paid for in USDC, on Solana or on the EVM networks we list at checkout, to the address shown for that payment. Send exactly the amount shown, within 10 minutes of asking. The amount carries a few millionths of a dollar that identify your payment, so please do not round it. Check the network and the address before you send: a transfer on the wrong network, or to the wrong address, cannot be recovered by us.

A payment is counted once the network has made it final. Pro then starts and runs for 30 days (365 for a year) from the moment we confirm it. If you pay again before it ends, the time is added. Pro keeps working for 7 days after it ends. If you have not paid again by then, your account goes back to Practice.

If you send a little less than the amount shown (up to 25 cents), we count it as paid. If you send more, or less, or after the 10 minutes, or an amount we cannot match to a payment you asked for, we do not guess. A person looks at it. Where we owe you money back, we refund it by hand to the address that sent it, in USDC, and we may take a short while to do so. We do not refund automatically, and a payment is not refundable once the plan it paid for has been used, except where the law says otherwise.

We charge in US dollars and do not add tax to the amount shown. If tax applies to you, it is yours to account for. The early-access price is described on the pricing page. It is kept for as long as your plan does not lapse.

Promo codes. A promo code takes an amount or a percentage off one payment and cannot be used again once it has been used, by you or by anyone else past its limit. It cannot be exchanged for money, and a payment made with a promo code does not earn a referral reward. We may stop a code at any time, and a code used in a way it was not meant for may be taken back.

Referrals

You can share a referral link from Settings, or the username of your public profile. A friend can use the link, or type your username or referral code in Settings before they pay for Pro for the first time. When they pay, we add 7 days to their plan, and we add free Pro time to yours: 7 days if they bought a month and 30 days if they bought a year. Nothing is given for signing up, and no cash is paid.

A person can be rewarded for at most 12 friends and 360 days in any 12 months. You cannot refer yourself, and we do not reward a payment made from a wallet that has also paid for the person who referred them. A friend counts only if they had not already paid for Pro.

If a payment is refunded, we take back the days it earned for both people. We may change or stop the programme, and we may withhold or take back a reward we believe was earned unfairly, for example through fake accounts. Rewards are added to your plan and cannot be exchanged for money.

What you must not do

• Break the law or use Fractionax to help anyone else do so.
• Try to get into accounts, systems or data that are not yours, or avoid the sign-in or limits we set.
• Overload the service, or copy it automatically at scale.
• Reverse engineer or copy the software, except where the law lets you.
• Use the assistant to create harmful, deceptive or unlawful content.
• Present Fractionax's output as regulated advice, or as a guarantee of any result.

Who owns what

We own the platform, including its software, models, design and brand. Data from third parties belongs to its owners and may carry its own terms.

You keep what you write, such as your goals and messages. You allow us to store and process it to run the service for you, and to send it to the providers named in the Privacy Policy for that purpose.

Changes and availability

We may change, pause or remove any part of Fractionax, including data sources and features, at any time. We do not promise that it will always be available or free of errors, or that your data will never be lost.

No warranty

To the fullest extent the law allows, Fractionax is provided "as is" and "as available", without promises about accuracy, completeness, fitness for a purpose or uninterrupted use.

Our responsibility to you

To the fullest extent the law allows, we are not liable for losses that come from your use of, or reliance on, Fractionax, including losses from decisions you make about real investments, from errors or delays in data, or from the assistant. Nothing in these terms limits liability that cannot be limited by law.

Ending your use

You can stop using Fractionax at any time, and ask us to delete your data. We may suspend or end your access if you break these terms or if we have to by law.

Changes to these terms

We may update these terms. We will change the date at the top and, for changes that matter, tell you in the app. If you keep using Fractionax after a change, you accept the new terms.