Terms of Service
Last updated: September 2026
These terms govern your use of Informed Portfolio. By using the site you agree to them; please read them; they're short and in plain English.
1. What Informed Portfolio is (and isn't)
Informed Portfolio is an educational software platform for analyzing, backtesting, simulating, and optimizing investment portfolios using historical market data. It is not a broker, investment adviser, or financial planner. Nothing on this site, including AI-generated explanations, constitutes financial, investment, tax, or legal advice, or a recommendation to buy, sell, or hold any security. See the full disclaimer.
2. Accounts
You may use the analysis tools without an account. Creating an account (to save work, export clean reports, or use monitoring) requires a valid email address. You are responsible for keeping your password confidential and for all activity under your account. We may suspend accounts that abuse the service (e.g., automated scraping, attempting to circumvent rate or plan limits, or unlawful use).
3. Free, Pro, Advisor & Business: what each includes
Running the core analysis tools is free, with no account required: backtesting, simulation, optimization, and CSV export. Parameter Sensitivity is a paid research tool, and AI Insights require a free account (5/month). Paid plans add the ability to save and manage more of your work over time. A free account saves 1 portfolio and 3 analyses (30-day history); paid plans raise those limits, unlock Parameter Sensitivity, and add portfolio monitoring with alerts, clean (un-watermarked) PDF reports, public share links, and higher AI Insights limits. Business builds on Advisor with team access: the base plan covers the owner seat, and you add or remove additional analyst seats yourself in the team manager (each billed per seat: an added seat is charged its prorated share of the current billing period at once, and a removed seat's unused time is credited to your account balance), so your analysts can view your client work read-only. Full limits are on the pricing page.
4. Billing
Paid plans are billed monthly or annually (annual saves 20%) and can be cancelled at any time; access continues through the period already paid. We don't refund partial periods. A switch to another plan or billing interval takes effect at once, after you are shown the amount: a move to a higher plan or to the other billing interval settles the prorated difference for the current period at once (charged to your payment method, or credited to your account balance when the time left was worth more), and a move to a lower plan credits the unused part of the current period against your next invoice. This credit is not a cash refund, and a paused plan switched to another plan ends without one. Deleting your account ends an active subscription at once, also without a refund. Monthly plans may be paused for one to three months; annual plans cannot be paused. Plan limits and prices may evolve: material reductions to a paid plan, or price increases, will be communicated in advance, and you can cancel before any change takes effect.
5. Personal vs. commercial use
The Free and Pro plans are licensed for personal, non-commercial use: your own research and learning. Using Informed Portfolio in the course of a business or to serve clients (for example, a financial adviser, planner, or firm producing analyses or reports for clients) requires the Advisor or Business plan, which includes commercial use of the platform's attributed derived analyses, CSVs, emails, reports, and share pages. Business additionally provides team access under one account: each analyst seat is licensed to a single named person (seats may not be shared); the account owner adds or removes seats, is responsible for all activity by seat holders, and must ensure their use complies with these terms; and per-seat charges apply for as long as a seat is active. While a seat is active, the seat holder's own use of Informed Portfolio is licensed as Business use, with Business limits; it ends with the seat, and their own plan then applies again. Growth Replay videos downloaded on Free or Pro carry the Informed Portfolio watermark, which is part of their licence: share them only with it intact. On Advisor and Business, downloads come without it and may be used without the watermark or that attribution. This is not a market-data sublicense. You may not resell or redistribute raw or cached provider observations, prices, dividends, volumes, API payloads, or the underlying market data itself by API, download, report, email, or any other means; or reverse-engineer non-public parts of the service, scrape or overload it, attempt to circumvent rate or plan limits, or use it for any unlawful purpose.
6. Data & accuracy
Market data comes from third-party providers and may contain errors, gaps, or delays. Analysis results are hypothetical, depend on assumptions and data quality, and past performance does not guarantee future results. AI-generated content can be wrong. You are solely responsible for decisions you make. Market data is attributed to Twelve Data. This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis. By using the application, you agree to the FRED API Terms of Use.
7. Disclaimer of warranties & limitation of liability
The service is provided “as is” and “as available”, without warranties of any kind, express or implied. To the maximum extent permitted by law, Informed Portfolio and its operators are not liable for any indirect, incidental, consequential, or special damages, including investment losses, arising from your use of the service. Our total liability is limited to the amount you paid us in the twelve months preceding the claim.
8. Changes & termination
We may update these terms as the product evolves; continued use after an update constitutes acceptance. You can delete your account at any time from your account page (section 7 of the privacy policy explains how, and what is kept). We may discontinue features with reasonable notice where practical.
9. Contact
Questions about these terms? Email support@informedportfolio.com or visit the contact page.