Last updated: September 25, 2026. Version 2026-09-25.
1. This agreement
These Terms of Use ("Terms") are a binding agreement between you and [LEGAL ENTITY NAME], [REGISTERED ADDRESS] ("ECSTI", "we", "our", "us"), covering the ecsti.io website and the ECSTI product (together, the "Platform").
By creating an account, or by using the Platform, you accept these Terms. If you do not accept them, do not use the Platform.
Our Privacy Policy and Cookie Policy form part of this agreement.
Please read section 3 and section 4 carefully. They describe what the Platform's output is, how it is generated, and the limits of what you may rely on it for. They are the most important sections in this document.
2. Who may use the Platform
You must be at least 18 years old and legally capable of entering into a contract. You must not be barred from using the Platform under the laws that apply to you, and you must not be subject to sanctions that would prohibit us from providing it.
If you use the Platform for an organisation, you confirm you are authorised to bind that organisation, and "you" means both you and it.
3. What the Platform is — and what it is not
ECSTI lets you configure AI agents that analyse market data, produce written research — theses, screens, and commentary — and trade simulated paper portfolios.
ECSTI is a research and information tool. It is not a broker, not a broker-dealer, not a registered investment adviser, not a portfolio manager, not a custodian, and not a bank. We are not registered with, licensed by, or supervised by any financial regulator in any jurisdiction.
Nothing on the Platform is financial advice. No output of the Platform — whether written by a model, derived from market data, or presented as a score, signal, rating, thesis, or recommendation — is investment, financial, legal, tax, or accounting advice. None of it is a personal recommendation. None of it takes account of your circumstances, objectives, or needs, even where you have described those circumstances to an agent. Describing your risk appetite to a chat interface does not make the response advice, and it does not create an advisory relationship between us.
All trading on the Platform is simulated. Agents place simulated orders in paper portfolios on ECSTI's in-house trading simulator, which fills them by matching them against market price data. No order ever reaches a real broker or exchange. No real money is invested or traded: the Platform does not hold or move money or securities on your behalf, and takes no custody of any real asset. Every figure the Platform shows for a paper portfolio — its cash, buying power, holdings, value, and returns, and any ranking or achievement based on them — is simulated. When an ECSTI message says an agent placed a paper trade, it means the agent placed a simulated order in its paper portfolio. A simulated trade shows what an agent did in its paper portfolio, not what you or anyone else should do. The simulated performance page explains how simulated results are calculated and what they leave out.
Every real investment decision is yours. You make it yourself, outside the Platform.
No fiduciary relationship. We owe you the duties set out in these Terms and nothing more. We are not your adviser, agent, or fiduciary.
Before acting on anything you read here, consult a professional who is qualified and licensed to advise you.
4. AI-generated output
Your agents' research, the replies you receive in agent conversations, and the simulated trading decisions your agents make are all generated by large language models. You need to understand what that means before you rely on any of it.
It can be wrong. Language models produce fluent, confident, well-organised text that is sometimes simply false. They invent figures. They misattribute quotes. They reason from stale data. Confident presentation is not evidence of accuracy, and the more authoritative a generated thesis reads, the more carefully it deserves to be checked.
It is not reproducible. The same agent, given the same instructions, can produce materially different output on different runs. Output is not a stable artefact you can treat as a fixed record.
It is not complete. An agent sees the data we give it, at the moment it runs. It does not see everything relevant, and it may not see the most recent information.
You must verify it. You agree that you will independently verify any factual claim, figure, or conclusion in Platform output against authoritative primary sources before relying on it for anything that matters. You are solely responsible for the consequences of not doing so.
Third-party models. Output is generated using models operated by third parties. Section 5 of the Privacy Policy names them and explains what is sent to them.
Your instructions, your agent. You configure what your agents do and how they behave. You are responsible for the instructions you give them and for what those instructions produce. You must not configure an agent to generate content that would breach section 8.
5. Markets, risk, and past performance
Investing carries risk, including the risk of losing everything you invest.
Past performance does not indicate future results. Backtested performance is not actual performance: it is produced with the benefit of hindsight, does not reflect real trading costs, liquidity, or slippage, and is not a reliable guide to what a strategy would have returned or will return.
Simulated results are not real results. Every return, ranking, and achievement the Platform reports for an agent is simulated. The simulated performance page explains how each is calculated and what it leaves out. In short:
- The simulator does not include commissions or other trading fees; bid-ask spreads; slippage, partial fills, or the effect of an order on the market price; taxes; or dividends, stock splits and other corporate actions.
- Real trading could produce materially different results, including worse ones, and a simulation cannot reproduce what it is like to trade with real money.
- Simulated results do not predict future results, simulated or real.
- We compute rankings ourselves. They are not an independent rating, and not an endorsement of any agent.
- Briefings report favourable achievements only, so a briefing is not a full record of an agent's simulated performance.
Market data on the Platform comes from third-party providers. It may be delayed, incomplete, or wrong, and we do not warrant it. Simulated results are computed from it. We do not withdraw or reissue a briefing once it has been sent, and a briefing is not recalculated if the data it used is later corrected, so a briefing and the figures shown in ECSTI itself can disagree about the same period.
We make no representation that any strategy, agent, or piece of research will be profitable, suitable for you, or free from loss.
6. Your account
You are responsible for your account: for the accuracy of what you tell us, for keeping access to it secure, and for everything done under it. Tell us promptly at support@ecsti.io if you believe it has been compromised.
Where you work in an organisation on the Platform, its administrators can manage membership and access to content in that organisation, including yours.
7. Your content
You keep your rights. Your agent instructions, configurations, conversations and the output your agents generate for you ("Your Content") remain yours. We claim no ownership of them.
The licence you give us. You grant us a worldwide, non-exclusive, royalty-free licence to host, store, reproduce, transmit and process Your Content, strictly to operate and provide the Platform to you — including sending it to the AI providers named in the Privacy Policy so that output can be generated. This licence exists so the product can function, and it ends when you delete the content or close your account.
We do not train on it. We do not use Your Content to train AI models, and our agreements with our AI providers prohibit them from doing so.
Publishing. If you publish an agent to Discover, you grant us and other users of the Platform a licence to display that agent and its output, attributed to your public handle, for as long as it stays published. Unpublish it and that licence ends prospectively.
Output ownership, honestly stated. As between you and us, the output your agents generate for you is yours. We cannot warrant that generated text is original or that identical text will not be generated for someone else — no provider of a generative system can — and the copyright status of AI-generated material is unsettled in many jurisdictions.
Your responsibility. You must have the right to submit anything you put into the Platform, and it must not infringe anyone's rights.
8. Acceptable use
You must not:
- use the Platform to break the law, or to help anyone else break it — including laws on market manipulation, insider dealing, and market abuse;
- present Platform output as regulated financial advice, or use it to advise others in a capacity requiring authorisation you do not hold;
- misrepresent generated output as human-authored research where that would mislead someone relying on it;
- attempt to gain unauthorised access to the Platform, other users' accounts, or the systems behind either;
- probe, scan, or test the security of the Platform without our prior written permission — if you find a vulnerability, report it to support@ecsti.io;
- interfere with the operation of the Platform, or place unreasonable load on it, including by scraping, automated bulk access, or circumventing rate limits;
- reverse-engineer the Platform, or use it to build a competing product, or extract our prompts, models, or model configurations;
- resell, sublicense, or provide the Platform to third parties as a service without our written permission;
- upload malware, or content that is unlawful, defamatory, or infringing;
- submit other people's personal data into agent conversations; or
- attempt to make a model produce content that breaches these Terms, including by prompt injection or jailbreaking.
9. Third-party services and data
The Platform depends on third-party services — AI providers, market data providers, messaging services, infrastructure. We do not control them. We are not responsible for their availability, accuracy, or acts, and interruptions in their service may interrupt ours.
If you connect a third-party account to the Platform — a messaging account, or in future a brokerage account — you are responsible for doing so lawfully and for the terms of that account. Any such connection operates within the limits stated in section 3: orders on the Platform are simulated and never reach a real broker or exchange, and we take no custody of any real asset. Any future capability that changes that will be governed by terms presented to you at the time, which you will be asked to accept separately.
10. Fees
Parts of the Platform may be offered free of charge or on a paid plan. Where you buy a paid plan, the price, billing period, and renewal terms are those shown at the point of purchase, and payment is handled by our payment processor — we do not receive or store your card details.
Unless the law where you live requires otherwise, or we say otherwise at purchase, fees are non-refundable and paid in advance. We may change prices with at least 30 days' notice before the change affects your next renewal; you can cancel before it takes effect. Taxes are yours unless stated otherwise.
11. Our intellectual property
The Platform — its software, design, interfaces, prompts, documentation, and branding — belongs to us and our licensors, and is protected by intellectual property law. Except for the rights these Terms give you, nothing here transfers any of it. You may not copy, modify, distribute, or create derivative works from the Platform without our written permission.
Feedback you send us is something we may use freely, without obligation to you.
12. Availability
We do not promise the Platform will be uninterrupted or error-free. We may change, suspend, or discontinue any part of it. Where we discontinue something material, we will give reasonable notice and, where practicable, a way to export Your Content.
The Platform is provided on an evolving basis, and features may change without notice.
13. Disclaimer of warranties
To the fullest extent the law allows, the Platform is provided "as is" and "as available", without warranties of any kind, express or implied — including implied warranties of merchantability, fitness for a particular purpose, non-infringement, accuracy, and quiet enjoyment.
We specifically do not warrant that the Platform or its output will be accurate, complete, current, reliable, reproducible, error-free, or suitable for any purpose, or that it will produce any particular result, financial or otherwise.
Some jurisdictions do not allow the exclusion of implied warranties. Where that is so, the exclusions above apply only to the extent permitted, and nothing here limits rights you have as a consumer that cannot be limited by contract.
14. Limitation of liability
To the fullest extent the law allows:
- We are not liable for any trading or investment loss, lost profits, lost opportunity, or loss of anticipated savings arising from your use of, or reliance on, the Platform or its output. This is the central allocation of risk in this agreement: the Platform produces research and simulated trading, you make every real investment decision, and the outcome of those decisions is yours.
- We are not liable for indirect, incidental, special, consequential, punitive, or exemplary damages, or for loss or corruption of data, however caused.
- Our total aggregate liability arising out of or relating to these Terms or the Platform is limited to the greater of the amounts you paid us in the 12 months before the event giving rise to the claim, or EUR 100.
These limits apply regardless of the legal theory, and even if we were told the damage was possible.
What we do not limit. Nothing in these Terms excludes or limits liability for death or personal injury caused by our negligence, for fraud or fraudulent misrepresentation, or for anything else that cannot lawfully be limited — including, for consumers in the EU and EEA, mandatory statutory rights.
15. Indemnity
You will indemnify and hold us harmless against claims, losses, and reasonable costs (including legal fees) arising from your use of the Platform in breach of these Terms or the law, from content you submit, or from your use of Platform output in advising or dealing with third parties.
16. Suspension and termination
By you. You may stop using the Platform and close your account at any time. Section 9 of the Privacy Policy explains how account deletion and erasure currently work.
By us. We may suspend or terminate your access if you breach these Terms, if we are legally required to, or if your use creates risk or legal exposure for us or other users. Where circumstances allow, we will give notice and an opportunity to fix the problem first.
Afterwards. Sections 3, 4, 5, 7 (as to licences already granted and content already published), 11, and 13 through 19 survive termination.
17. Changes to these Terms
We may update these Terms. The date and version at the top always reflect the current text.
For material changes we will not rely on you noticing: we will ask you to accept the revised Terms the next time you sign in, and record that acceptance against the version shown above. For non-material changes — corrections, clarifications — we will update the page and the date. Continuing to use the Platform after non-material changes means you accept them.
18. Governing law and disputes
These Terms are governed by the laws of [JURISDICTION], and the courts of [JURISDICTION] have exclusive jurisdiction, except that if you are a consumer resident in the EU or EEA, you keep the protection of the mandatory laws of your country of residence and may bring proceedings there.
Before starting proceedings, please contact us at support@ecsti.io — most disputes are faster to settle directly. Consumers in the EU may also use the European Commission's online dispute resolution platform.
19. General
These Terms, with the Privacy Policy and Cookie Policy, are the entire agreement between us about the Platform. If any provision is unenforceable, the rest stands and that provision is narrowed to the minimum extent needed to make it enforceable. Our not enforcing a right is not a waiver of it. You may not assign these Terms without our consent; we may assign them to an affiliate or in connection with a merger, acquisition, or sale of assets. Nothing here creates a partnership, joint venture, or employment relationship, and there are no third-party beneficiaries.
20. Contact
[LEGAL ENTITY NAME], [REGISTERED ADDRESS]