Disclaimer

For educational and research purposes only. Not investment advice.

Trading Agents Lab ("the Software") is a free, open-source desktop application that uses large language models to produce structured deliberations about publicly traded securities. The Software is provided strictly as an educational and research tool. Nothing produced by the Software constitutes investment advice, a recommendation to buy or sell any security, or a solicitation of any transaction.

The Software is not a registered investment adviser.

Trading Agents Lab is not registered with the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), any state securities regulator, or any comparable authority in any other jurisdiction, in any capacity. The Software's authors and maintainers do not act as fiduciaries with respect to any user.

The Software does not execute trades.

By design, the Software contains no broker-execution code. It cannot place an order on a user's behalf, whether for live trading or paper trading. The Software connects to market data endpoints only (e.g. yfinance, Alpaca's data endpoints, Alpaca's paper-trading endpoints for data context). Any decision to act on the Software's output is the user's alone, undertaken through the user's own authorised brokerage account, with full responsibility for outcomes.

AI output may be inaccurate, biased, or hallucinated.

The Software relies on third-party large language models (OpenAI, Anthropic, Google, OpenRouter, local Ollama, or others) configured by the user. These models can produce output that is factually wrong, internally inconsistent, biased toward their training data, or entirely fabricated. The Software structures multiple perspectives to make disagreement visible, but cannot guarantee that any individual statement, transcript, or final decision is accurate or appropriate for any particular person, security, or market condition.

Past performance is not indicative of future results.

The Software does not predict the market. It does not forecast price movement. It does not guarantee any outcome. Any historical references made by the language models within a Diligence transcript are not predictive of future performance and should not be relied upon for any investment decision.

You assume all risk.

Trading and investing in securities, cryptocurrencies, and other instruments carries substantial risk of loss and is not suitable for every investor. The user is solely responsible for their investment decisions and for any resulting losses. The Software, its authors, maintainers, contributors, and any affiliated parties expressly disclaim any liability for any decision made or action taken on the basis of the Software's output.

Consult a licensed professional.

Before making any investment decision, you should consult with a licensed financial adviser, tax adviser, and/or legal counsel in your jurisdiction. The Software is not a substitute for personalised professional advice.

No warranty.

The Software is licensed under the GNU Affero General Public License v3.0 and is provided "AS IS", without warranty of any kind, express or implied, including but not limited to the warranties of merchantability, fitness for a particular purpose, and non-infringement. See the full AGPL-3.0 license text for the complete warranty disclaimer.

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