Terms of Service

Acceptance of Terms

These Terms govern your use of Stoa as an investor or reader. By creating an account or using the platform, you agree to these Terms and our Privacy Policy. Final binding language is subject to counsel review.

Platform Description & Not-Advice Disclaimer

Stoa is a two-sided marketplace where independent financial analysts publish research, lock a price target (ticker, direction, target price, horizon date) at publication, and may be paid via subscription or per-report purchase. Locked calls are enforced immutable at the database level — they cannot be edited or deleted after publication, including by Stoa itself.

Stoa is a research marketplace, not a broker or registered investment adviser. Nothing on the platform is investment, tax, or legal advice. See our Not Investment Advice page for how the product is designed.

User Accounts & Eligibility

You must be at least 18 years old to create an account. You are responsible for keeping your credentials secure and for activity under your account.

Analyst Content & Independence

Research on Stoa reflects the independent views of individual analysts, not Stoa. Content is published once to all subscribers and purchasers simultaneously — there is no mechanism for analysts to tailor research to an individual investor's circumstances.

There is no direct messaging between an analyst and a subscriber. The only conversational surface is a public debate thread scoped to a single claim on a published report, visible to all readers — not a private advice channel.

Every published report includes a mandatory disclosure block (not removable or customizable by the analyst) covering position disclosure, compensation tied to the call, and certification that views are the analyst's own.

Subscriptions & Payments

Payments are processed via PayPal. Stoa collects a 10% platform fee on analyst earnings. Pricing, billing cycles, and refund handling will be specified in final Terms once counsel completes drafting.

• Subscription access to an analyst's research feed
• Per-report purchases where offered
• Simulated wallet/credits may be used in demo or pre-production environments

Intellectual Property

Analysts retain ownership of their research subject to the license they grant Stoa to host, display, and distribute published content on the platform. Stoa's brand, software, and scoring systems remain Stoa property.

Limitation of Liability

[Pending legal draft — counsel to define liability caps, disclaimers, and exclusions appropriate to a research marketplace.]

Dispute Resolution

[Pending legal draft — counsel to specify governing law, venue, and dispute resolution mechanism.]

Changes to Terms

When we update these Terms, we will publish a new version and may require re-acceptance for continued use of the platform. Material changes will be communicated in advance where required by law.

Contact

Questions about these Terms: legal@stoa.app