Terms of Service

Educational and informational purposes only

The Services provide general investment education and information. All articles, newsletters, lessons, videos, research, commentary, examples, portfolios, data, rankings, and other materials made available through the Services (“Content”) are provided for educational and informational purposes only. They are not investment, financial, legal, tax, or other professional advice, or an offer or solicitation to buy or sell any security, digital asset, or other financial product.

The Content does not take into account your individual objectives, financial circumstances, investment experience, or risk tolerance. No Content is a recommendation that an investment, asset, product, service, or strategy is suitable for you. Accessing the Services, including purchasing a PRO membership, does not by itself create an investment advisory, fiduciary, or other professional-client relationship with Milk Road or any contributor.

You are responsible for independently evaluating your financial decisions and obtaining advice from a qualified professional where appropriate. Investing involves risk, including the possible loss of your entire investment. Past performance does not guarantee future results, and no outcome or return is promised.

Analyst portfolios

Analyst portfolios are informational representations of the relevant analysts’ personal portfolios and investment activity. They illustrate the analysts’ own investment decisions and are not portfolios managed on your behalf, personalized investment plans, or instructions to copy trades.

A displayed portfolio may be simplified, incomplete, or delayed and may not include every account, holding, transaction, hedge, or other relevant circumstance. Actual holdings, transaction dates, execution prices, costs, and returns may differ from those displayed. Analysts may change their holdings or views independently of publication schedules. You should not blindly copy or attempt to replicate an analyst’s portfolio or transactions. Any decision to invest requires your own assessment of suitability and risk.

Asset screener

The asset screener organizes and presents asset data using selected inputs, criteria, calculations, and methodologies. Scores, rankings, filters, classifications, and search results are informational tools and are not recommendations to buy, sell, or hold an asset.

An asset’s inclusion or high ranking does not mean that you should buy it, that it is suitable for you, that it is safe or undervalued, or that it will perform well. The screener may not include all assets, relevant information, or risks. Data and methodologies may change, and outputs may be delayed, incomplete, or inaccurate.

Insiders portfolios and public filings

Insiders portfolios summarize and visualize information reported in publicly available government or regulatory filings. They are representations derived from reported information, not verified statements of a person’s complete or current portfolio, net worth, or investment intentions.

Filings may be delayed, incomplete, amended, or inaccurate and may disclose value ranges rather than exact amounts. Visualizations may use estimates or assumptions and may omit unreported or unavailable information. Transaction dates, filing dates, and publication dates may differ. A reported holding or transaction is not a recommendation to follow that person’s investments or financial advice. Inclusion does not imply affiliation with or endorsement by the person, an issuer, or a government agency, or government approval of any investment.

Performance information and conflicts of interest

Portfolio values, returns, projections, and other performance information may be historical, estimated, reconstructed, or hypothetical, as identified with the relevant display. Results may depend on assumptions and may exclude fees, taxes, transaction costs, dividends, liquidity constraints, or other factors, as described in the accompanying methodology. Estimated, reconstructed, or hypothetical returns should not be treated as verified returns actually earned by an analyst or insider. Your results may differ materially.

Milk Road, its analysts, employees, or contributors may hold positions in assets discussed in the Services and may have interests that differ from yours. We may also receive advertising, sponsorship, or affiliate compensation. These potential interests do not make the Content suitable for you. Relevant disclosures accompanying particular Content or offers should be read together with these Terms.

We strive to provide accurate and current information, but we do not guarantee that the Content is accurate, complete, current, or free of errors. Information may come from third parties, public filings, data providers, and contributors, and may contain reporting or calculation errors. Opinions reflect the views expressed at the time of publication and may change.

Unless expressly stated for a particular feature, information is not provided in real time. You should independently verify material information before acting on it. Our liability for errors, omissions, and reliance on Content is subject to Sections 8 through 10 and applicable law.

The Services and their original text, graphics, logos, software, and other protectable materials are owned by Milk Road Inc. or its licensors and are protected by applicable intellectual property laws. Third-party materials remain the property of their respective owners; we do not claim ownership of underlying public facts or third-party filings merely because they appear in the Services.

You may access and use the Services for your personal, noncommercial purposes, subject to these Terms. Except as permitted by law or with our prior written consent, you may not reproduce, republish, redistribute, sell, or commercially exploit protected Content, including PRO Content, or remove copyright or other proprietary notices.

Where permitted by applicable law, we may suspend or terminate your access to the Services, including for a violation of these Terms, nonpayment, misuse, fraud, or conduct that threatens the security or operation of the Services. We may act without advance notice where appropriate and lawful.

If we terminate a paid membership, future subscription renewals will stop. Suspension or termination does not limit any refund, cancellation, or other remedy to which you are entitled under applicable law. Sections that by their nature should continue after termination will continue to apply to the extent permitted by law.

These Terms and your use of the Services are governed by the laws of the State of Delaware, USA, without regard to its conflict-of-laws rules. Except where applicable law requires otherwise, disputes will be resolved in the state or federal courts located in Delaware, and you and Milk Road consent to those courts’ jurisdiction.

Nothing in these Terms deprives you of mandatory consumer protections or rights to bring proceedings in another jurisdiction that cannot lawfully be excluded by agreement.

By accessing or using the Services, you agree to these Terms. If you do not agree, you must not use the Services. Enrollment in a paid subscription or a trial that converts to a paid subscription also requires your consent to the subscription and recurring billing terms disclosed at enrollment, as described in Section 13.

The Services may contain links to websites, products, platforms, and resources provided by third parties, including advertisements and sponsored or affiliate links. These links are provided for convenience and information. A link or advertisement does not by itself constitute a recommendation that the third-party product, service, or investment is suitable for you.

We do not control third-party websites or services and are not responsible for their content, availability, security, or practices, subject to applicable law. If you access or use them, you do so at your own risk and under their terms and privacy policies. You are responsible for evaluating third parties before entering into any transaction.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, YOUR USE OF THE SERVICES AND CONTENT IS AT YOUR OWN RISK. THE SERVICES AND CONTENT ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED.

NEITHER MILK ROAD NOR ANY PERSON ASSOCIATED WITH MILK ROAD WARRANTS THE COMPLETENESS, SECURITY, RELIABILITY, QUALITY, ACCURACY, TIMELINESS, OR AVAILABILITY OF THE SERVICES OR CONTENT. WE DO NOT WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, THAT THE SERVICES OR THEIR SERVERS WILL BE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS, OR THAT THE SERVICES WILL MEET YOUR NEEDS OR EXPECTATIONS.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, MILK ROAD DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT, AND FITNESS FOR A PARTICULAR PURPOSE.

THESE TERMS DO NOT EXCLUDE OR LIMIT ANY WARRANTY, GUARANTEE, OR CONSUMER RIGHT THAT CANNOT LAWFULLY BE EXCLUDED OR LIMITED.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, MILK ROAD INC., ITS AFFILIATES, LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS, AND DIRECTORS WILL NOT BE LIABLE FOR DAMAGES ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF, OR INABILITY TO USE, THE SERVICES, THE CONTENT, OR LINKED THIRD-PARTY SERVICES, INCLUDING DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES; INVESTMENT OR TRADING LOSSES; LOSS OF REVENUE, PROFITS, ANTICIPATED SAVINGS, BUSINESS, GOODWILL, USE, OR DATA; OR OTHER LOSSES, WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, OR ANOTHER LEGAL THEORY, EVEN IF THE POSSIBILITY OF SUCH DAMAGES WAS FORESEEABLE.

NOTHING IN THESE TERMS EXCLUDES OR LIMITS LIABILITY FOR FRAUD, WILLFUL MISCONDUCT, GROSS NEGLIGENCE, OR ANY LIABILITY THAT CANNOT LAWFULLY BE EXCLUDED OR LIMITED. NOTHING WAIVES ANY NONWAIVABLE RIGHT OR REMEDY UNDER APPLICABLE SECURITIES, CONSUMER PROTECTION, OR OTHER LAW. THE EXCLUSIONS ABOVE DO NOT REMOVE ANY REFUND OR PAYMENT OBLIGATION THAT APPLIES UNDER SECTION 13 OR APPLICABLE LAW.

We may revise these Terms from time to time and will post the revised version with an updated date. Changes apply prospectively from the stated effective date. We will provide notice of material changes and obtain additional consent where required by applicable law. Your continued use after the effective date constitutes acceptance to the extent permitted by law.

Changes will not retroactively alter charges already incurred or remove rights that have already accrued. Subscription price changes are subject to Section 13. These Terms do not override a specific refund promise or other subscription offer that we expressly agreed would apply to your purchase.

The Services are offered to users who are at least 18 years old and legally able to enter into a binding agreement. By using the Services, you represent that you meet these requirements. If you do not, you must not access or use the Services.

Plans and payment authorization

PRO is offered on the monthly or annual plan you select at enrollment. The applicable price, currency, billing frequency, trial terms, cancellation method, and any applicable taxes will be disclosed before you enroll. An annual membership is billed for the full annual amount, even if its price is also displayed as a monthly equivalent.

By affirmatively agreeing to the recurring billing terms at enrollment, you authorize us and our payment processor to charge your selected payment method for the disclosed subscription fees and applicable taxes at purchase if no trial applies, when your trial converts, and at each renewal, until you cancel. You must provide accurate payment and contact information and keep it current.

Seven day trial and automatic conversion

If you enroll in a seven-day PRO trial, the trial runs for seven days from activation. The exact expiration date and time, including the applicable time zone, will be disclosed at enrollment and in your enrollment confirmation.

UNLESS YOU CANCEL BEFORE YOUR SEVEN-DAY TRIAL EXPIRES, IT WILL AUTOMATICALLY CONVERT TO THE MONTHLY OR ANNUAL PRO MEMBERSHIP YOU SELECTED, AND YOUR PAYMENT METHOD WILL BE CHARGED THE FULL SUBSCRIPTION PRICE DISCLOSED AT ENROLLMENT, PLUS ANY APPLICABLE TAXES.

To avoid that subscription charge, you must cancel before the disclosed trial expiration date and time. If you do not cancel in time, no refund will be issued for the resulting properly authorized subscription charge, except as provided under “Refund policy” below.

Automatic membership renewals

MONTHLY MEMBERSHIPS AUTOMATICALLY RENEW EACH MONTH, AND ANNUAL MEMBERSHIPS AUTOMATICALLY RENEW EACH YEAR, UNLESS YOU CANCEL BEFORE THE NEXT RENEWAL DATE. AT EACH RENEWAL, WE WILL CHARGE THE SUBSCRIPTION PRICE DISCLOSED AT ENROLLMENT OR A REVISED PRICE COMMUNICATED IN ACCORDANCE WITH THESE TERMS AND APPLICABLE LAW, PLUS ANY APPLICABLE TAXES.

If you do not wish to renew, you must cancel before your next renewal date. If you do not cancel in time, no refund will be issued for the resulting properly authorized renewal charge, except as provided under “Refund policy” below.

How to cancel

You may cancel your trial or membership at any time using Account → Subscription → Manage Subscription → Cancel Subscription Instead. If you need help accessing cancellation, contact [email protected]. We will also accept any other cancellation method required by applicable law.

A cancellation submitted through the designated cancellation mechanism stops future renewal charges and does not require discretionary approval. Canceling a trial before it expires prevents its conversion to a paid membership. Canceling a paid membership allows you to continue accessing PRO until the end of the period you have already paid for, unless applicable law requires different treatment.

Unsubscribing from marketing emails or simply ceasing to use the Services does not cancel a PRO trial or membership.

Refund policy

EXCEPT AS REQUIRED BY APPLICABLE LAW OR EXPRESSLY PROVIDED IN A WRITTEN OFFER FROM MILK ROAD THAT APPLIES TO YOUR PURCHASE, SUBSCRIPTION PAYMENTS ARE NONREFUNDABLE.

This includes charges following a trial that you did not cancel before expiration, monthly or annual renewal charges that you did not cancel before renewal, and unused portions of a subscription period. We do not provide prorated refunds or credits merely because you stop using PRO or cancel after a properly authorized charge has occurred.

This policy does not apply to charges made in error, charges that were not authorized, or refunds required by applicable law. Nothing in these Terms limits mandatory cancellation, withdrawal, refund, or other consumer rights. Contact [email protected] if you believe a charge is incorrect or a refund is required.

Confirmations notices and price changes

We will provide an enrollment confirmation that you can retain, together with the applicable subscription terms and cancellation instructions, and will provide renewal reminders and other notices required by law. We may change subscription prices prospectively, with advance notice and any additional consent required by law. A price change will not increase the price of a subscription period you have already paid for. You may cancel before the change takes effect to avoid future charges at the new price.

Unless we expressly agree otherwise, your account and PRO membership are for your personal use. You must protect your login credentials and must not share access, bypass access restrictions, interfere with the Services, or use the Services unlawfully. Notify us promptly if you suspect unauthorized access to your account.

Our collection and use of personal information are described in our Privacy Policy at milkroad.com/privacy. If any provision of these Terms is held unenforceable, the remaining provisions will continue to apply to the extent permitted by law.

For questions about these Terms, subscriptions, or billing, contact Milk Road Inc. at [email protected] or 1257 Dundas St W, Toronto, ON, M6J 1X6.