Terms of Service

Effective Date: April 4, 2026

Welcome to Convex (convex.ltd and app.convex.ltd), operated by Convex S.A.C. ("Convex," "we," "us," or "our"). These Terms of Service ("Terms") govern your access to and use of our website, applications, APIs, and all related services (collectively, the "Service").

1. Acceptance of Terms

By creating an account, accessing, or using the Service in any way, you acknowledge that you have read, understood, and agree to be bound by these Terms and our Privacy Policy. If you do not agree to these Terms, you must not access or use the Service.

You represent that you are at least 18 years of age (or the age of majority in your jurisdiction) and have the legal capacity to enter into a binding agreement.

2. Description of Service

Convex is an AI-powered stock analysis platform designed for retail investors. The Service provides:

  • Algorithmic stock analysis using our proprietary Conviction Engine, which employs multiple valuation methodologies including discounted cash flow, comparable multiples, Monte Carlo simulations, and quality scoring.
  • Fair value estimates, scenario modeling, and conviction-based recommendations for publicly traded securities.
  • AI-powered chat that answers questions about stocks and market data.
  • Portfolio tracking and watchlist management tools.
  • Read-only brokerage account connection via SnapTrade for portfolio import purposes.
  • Educational content related to investing and financial analysis.

Convex is a software tool. We are not a broker, dealer, investment adviser, financial planner, or asset manager. We do not execute trades, hold customer funds, custody securities, or provide personalized financial advice.

3. Not Financial Advice

THE SERVICE DOES NOT CONSTITUTE INVESTMENT ADVICE, FINANCIAL ADVICE, TRADING ADVICE, OR ANY OTHER FORM OF PROFESSIONAL ADVICE.

All analysis, recommendations, fair value estimates, conviction scores, buy zones, scenario projections, and any other output generated by the Service are produced by automated algorithms and artificial intelligence models. They are provided strictly for informational and educational purposes only.

Convex is not registered with, nor regulated by, the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Superintendencia del Mercado de Valores (SMV) of Peru, or any other financial regulatory authority in any jurisdiction. Nothing in the Service should be interpreted as a solicitation, recommendation, or endorsement to buy, sell, or hold any security.

You should always consult a qualified, licensed financial professional before making any investment decisions. Past performance of any security, whether analyzed by Convex or otherwise, is not indicative of future results. Investing involves risk, including the possible loss of principal.

4. Account Registration

To access certain features of the Service, you must create an account. When registering, you agree to:

  • Provide accurate, current, and complete information (including your name, email address, and any other requested details).
  • Maintain and promptly update your account information to keep it accurate and complete.
  • Maintain the security of your account credentials and not share your password with any third party.
  • Accept responsibility for all activities that occur under your account.
  • Notify us immediately at hello@convex.ltd if you suspect unauthorized access to your account.

Each individual may maintain only one account. We reserve the right to suspend or terminate duplicate accounts without notice.

5. Subscription Plans and Billing

5.1 Plans

Convex offers the following subscription tiers:

  • Free: Limited access, including up to 5 stock analyses per day and 1 portfolio.
  • Investor ($9/month or $6.58/month billed annually): Unlimited analyses, 5 portfolios, Monte Carlo scenarios, AI chat, and additional features as described on our pricing page.
  • Pro ($19/month or $13.25/month billed annually): Full access to all features, including unlimited everything, CSV export, beta AI models, and priority support.

Feature availability and pricing are subject to change. Current details are always available on our pricing page.

5.2 Billing and Auto-Renewal

Paid subscriptions are billed in advance on a recurring basis (monthly or annually, depending on your selected plan). By subscribing, you authorize us to charge your payment method automatically at the beginning of each billing cycle until you cancel.

5.3 Price Changes

We may change subscription prices at any time. Price changes for existing subscribers will take effect at the start of the next billing cycle following at least 30 days' written notice (via email or in-app notification). Your continued use of the Service after a price change constitutes acceptance of the new price.

5.4 Refund Policy

We offer a 30-day money-back guarantee on all paid subscriptions (monthly and annual). If you are not satisfied with the Service for any reason, contact hello@convex.ltd within 30 calendar days of your initial payment for a full refund. After the 30-day window, monthly plans are non-refundable; annual plans may qualify for a pro-rated refund of the unused portion on a case-by-case basis. Full details, including renewal refunds and EU statutory rights, are available in our Refund Policy.

5.5 Cancellation

You may cancel your subscription at any time through your account settings. Cancellation takes effect at the end of the current billing period. You will retain access to paid features until the end of that period.

6. Fair Use Policy

All plans, including Pro, are intended for individual, personal use by a single human user. You agree not to:

  • Use automated scripts, bots, scrapers, or any other automated means to access the Service or extract data.
  • Systematically download, cache, or redistribute analysis results, fair value estimates, or any other Service output.
  • Share your account credentials with others or allow multiple individuals to use a single account.
  • Use the Service to build, train, or improve a competing product or service.
  • Circumvent or attempt to circumvent any usage limits, rate limits, or access restrictions.

We reserve the right to throttle, suspend, or terminate accounts that exhibit usage patterns inconsistent with reasonable individual human usage, at our sole discretion.

7. User Responsibilities

You acknowledge and agree that:

  • You are solely responsible for your own investment and financial decisions. Convex does not and cannot make investment decisions on your behalf.
  • You will not rely on the Service as the sole basis for any investment decision. The Service is one of many tools available to you and should be used in conjunction with your own research and the advice of qualified financial professionals.
  • You understand that financial markets involve inherent risks and that no analytical tool, regardless of sophistication, can guarantee investment returns or eliminate investment risk.
  • You will use the Service only for lawful purposes and in compliance with all applicable laws and regulations, including securities laws in your jurisdiction.
  • You will not use any information obtained from the Service for insider trading, market manipulation, or any other illegal activity.

8. Intellectual Property

8.1 Our Property

The Service, including but not limited to the Conviction Engine, all algorithms, models, software, user interface, design, text, graphics, logos, and analysis methodologies, is the exclusive property of Convex S.A.C. and is protected by copyright, trademark, trade secret, and other intellectual property laws. You may not copy, modify, distribute, reverse engineer, or create derivative works from any part of the Service.

8.2 Your Data

You retain ownership of any data you provide to the Service, including portfolio positions, watchlist selections, and account information. By using the Service, you grant us a limited, non-exclusive license to use your data solely for the purpose of providing and improving the Service.

8.3 Feedback

If you provide suggestions, ideas, or other feedback about the Service, you grant us an unrestricted, irrevocable, worldwide, royalty-free license to use, modify, and incorporate such feedback without obligation to you.

9. Data and Privacy

Your use of the Service is also governed by our Privacy Policy, which describes how we collect, use, store, and protect your personal information, including your name, email address, risk profile responses, portfolio data, and brokerage connection data. By using the Service, you consent to the collection and use of your information as described in the Privacy Policy.

10. Third-Party Services

The Service integrates with and relies on third-party services and data providers, including but not limited to:

  • SnapTrade: Read-only brokerage account connection for portfolio import. Convex never receives your brokerage credentials; authentication is handled entirely by SnapTrade.
  • Financial data providers (such as Financial Modeling Prep, Yahoo Finance, CoinGecko, FRED, and NewsAPI) for market data, financial statements, and economic indicators.
  • Anthropic (Claude): AI language model used for generating narrative analysis and answering user questions.
  • Cloudflare: Security, CDN, and bot protection services.
  • Google Analytics: Usage analytics and service improvement.

Convex is not responsible for the accuracy, completeness, timeliness, or reliability of any data or services provided by third parties. Third-party services are subject to their own terms of service and privacy policies.

11. Limitation of Liability

THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE," WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, COMPLETENESS, AND NON-INFRINGEMENT.

Without limiting the foregoing, Convex makes no warranty or representation that:

  • Any analysis, fair value estimate, conviction score, or other output will be accurate, reliable, complete, or timely.
  • The Service will be uninterrupted, secure, or free of errors, bugs, or viruses.
  • Any investment decision made using the Service will result in a profit or avoid a loss.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL CONVEX, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AFFILIATES, OR LICENSORS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, LOSS OF DATA, LOSS OF INVESTMENT VALUE, OR ANY OTHER FINANCIAL LOSSES, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF OR INABILITY TO USE THE SERVICE, REGARDLESS OF THE THEORY OF LIABILITY (CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE), EVEN IF CONVEX HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

To the extent permitted by law, our total aggregate liability for any claims arising from or related to the Service shall not exceed the amount you paid to Convex in the twelve (12) months immediately preceding the event giving rise to the claim, or fifty U.S. dollars (USD $50), whichever is greater.

12. Indemnification

You agree to indemnify, defend, and hold harmless Convex S.A.C. and its officers, directors, employees, agents, and affiliates from and against any and all claims, damages, losses, liabilities, costs, and expenses (including reasonable attorneys' fees) arising out of or related to:

  • Your use of or reliance on the Service.
  • Any investment decision you make using information from the Service.
  • Your violation of these Terms.
  • Your violation of any applicable law or regulation.
  • Any claim by a third party resulting from your use of the Service.

13. Termination

You may terminate your account at any time by contacting hello@convex.ltd or through your account settings.

We reserve the right to suspend or terminate your access to the Service at any time, with or without cause, with or without notice, including but not limited to cases where:

  • You violate these Terms or our Fair Use Policy.
  • Your account shows signs of fraudulent, abusive, or automated activity.
  • We are required to do so by law or regulation.
  • We discontinue the Service or any part of it.

Upon termination, your right to use the Service ceases immediately. Sections 3, 7, 8, 11, 12, and 14 shall survive termination.

14. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the Republic of Peru, without regard to its conflict of law principles.

Before initiating any formal legal proceedings, you agree to first attempt to resolve any dispute informally by contacting us at hello@convex.ltd. We will make good-faith efforts to resolve any issue within 30 days.

14.1 Binding Arbitration

If informal resolution fails, any dispute, claim, or controversy arising out of or relating to these Terms, the Service, or your use thereof — including the determination of the scope or applicability of this agreement to arbitrate — shall be resolved by binding individual arbitration administered under the rules of the Centro de Arbitraje de la Cámara de Comercio de Lima, or, for users located in the United States, under the rules of the American Arbitration Association (AAA). The arbitration shall be conducted by a single arbitrator, in the English or Spanish language, and the seat of arbitration shall be Lima, Peru (or, for U.S. users, a location mutually agreed upon or determined by the AAA). The arbitrator's decision shall be final and binding and may be entered as a judgment in any court of competent jurisdiction.

14.2 Class Action Waiver

YOU AND CONVEX AGREE THAT EACH PARTY MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, CONSOLIDATED, OR REPRESENTATIVE PROCEEDING. The arbitrator may not consolidate more than one person's claims and may not otherwise preside over any form of a representative or class proceeding. If this class action waiver is found to be unenforceable, then the entirety of this arbitration provision shall be null and void, and the dispute shall proceed in the courts specified below.

14.3 Exceptions to Arbitration

Notwithstanding the above, either party may seek injunctive or other equitable relief in any court of competent jurisdiction to prevent the actual or threatened infringement of intellectual property rights. Additionally, claims within the jurisdiction of a small claims court may be brought in such court instead of arbitration.

14.4 Fallback Jurisdiction

For any dispute not subject to arbitration, or where arbitration is found unenforceable, you agree to submit to the exclusive jurisdiction of the courts located in Lima, Peru.

15. Changes to These Terms

We reserve the right to modify these Terms at any time. If we make material changes, we will notify you by email or through an in-app notification at least 15 days before the changes take effect. The "Effective Date" at the top of this page will be updated accordingly.

Your continued use of the Service after the updated Terms take effect constitutes your acceptance of the revised Terms. If you do not agree to the revised Terms, you must stop using the Service and cancel your account.

16. General Provisions

  • Entire Agreement: These Terms, together with the Privacy Policy, constitute the entire agreement between you and Convex regarding the Service.
  • Severability: If any provision of these Terms is found to be unenforceable, the remaining provisions shall continue in full force and effect.
  • Waiver: Our failure to enforce any right or provision of these Terms shall not constitute a waiver of that right or provision.
  • Assignment: You may not assign or transfer your rights under these Terms without our prior written consent. We may assign our rights and obligations without restriction.
  • Force Majeure: Convex shall not be liable for any failure or delay in performing its obligations due to circumstances beyond its reasonable control, including natural disasters, war, government actions, internet outages, or third-party service failures.

17. Contact Information

If you have any questions about these Terms, please contact us at:

Convex S.A.C.
Email: hello@convex.ltd
Website: convex.ltd