1. What Clause is
Clause is a research tool: it compiles strategy descriptions into deterministic rules and evaluates them against historical market data. It is not a broker, not an investment adviser, and it does not execute trades with real money.
Paper trading only. A strategy you apply places orders in the Alpaca paper account you connect and nowhere else; real-money execution is not offered. Those orders follow the strategy’s own schedule without anyone watching, and stopping a strategy cancels every open order on that paper account.
2. No investment advice
Nothing on this site (backtests, scores, examples, published strategies, or any output of the compiler) is a recommendation to buy or sell any security. Backtested results are hypothetical, do not reflect real trading, and are not indicative of future results. You alone are responsible for any trading decision you make anywhere.
3. Access
Anyone 18 or older may create an account. We may end access at our discretion. One account per person.
4. Eligibility
You must be 18 or older.
5. Plans
Free includes 20 compiles and 60 compiler calls a month. Nothing is billed, and nothing is charged without your separate agreement to paid terms.
6. Your account and content
You are responsible for your credentials. The strategies you write, which the Terminal keeps for you as you work, are private to your account. Strategies you share or publish become publicly visible along with the results Clause computed, and stay online without your name if you delete the account. Do not publish content that is unlawful or that you lack the rights to share.
7. Acceptable use
No automated compiling or scraping, no attempts to get around limits, no redistribution of the market data shown here.
8. Data
Market data comes from third-party sources and may be delayed, incomplete, or wrong. We may cap usage (for example, compile limits) to keep the service available.
9. Third parties
Your paper account is governed by Alpaca’s own terms. Clause is not affiliated with Alpaca. Market data is licensed from its providers and may not be redistributed.
10. Mail
We send account mail only: invitations, password links and address confirmations. No marketing mail without your consent.
11. No warranty; limitation of liability
The service is provided as-is, without warranties of any kind. To the maximum extent permitted by law, we are not liable for any losses arising from use of the service, including trading losses, data errors, or downtime.
12. Who we are and changes
Clause is run by its owner. We tell you by email before a material change takes effect.
We may update the service and these terms; continued use after changes is acceptance. We may suspend accounts that abuse the service.