Policy Pages – Investopedia
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Updated August 8, 2019
Our mission is to simplify complex financial information and decisions so that our readers have the confidence to manage every aspect of their financial life. Your financial life is filled with personal decisions and challenges. Whether you are investing as a beginner or expert, planning your retirement, buying a home, studying for an exam in business school, or running a small business you have questions that need answering.
For over 20 years, we’ve helped hundreds of millions of people do just that. We feel it’s important to share how we go about writing all of the articles that you depend on.
Empowering: Finance can be complex and intimidating. We provide you with information that you can use with confidence, whatever your level of experience.
Unbiased: From financial product recommendations to the financial implications of government policy we put things in context and provide all the facts. Our information is carefully researched and is not written to support any specific economic or political viewpoint.
Accurate: Having accurate financial information, presented clearly and updated regularly is of the utmost importance to us. We seek out and work with the most qualified experts across every topic we cover. Any mistakes, inaccuracies or misrepresentations identified by our readers are investigated and corrected promptly. Please contact us for corrections.
Inclusive: We work to ensure that our content serves—and depicts with dignity and respect—people of different ages, nationalities, religions, gender identities, sexual orientations, ethnicities, relationship statuses, physical and mental abilities, and family types.
We are committed to following the Codes of Ethics of the Society for Advancing Business Editing and Writing (SABEW). Our content is guided by and upholds the Society for Professional Journalists’ foundations of ethical journalism: being accurate and fair, minimizing harm, acting independently, and being accountable and transparent. We also uphold the Federal Trade Commission (FTC) guidelines on disclosures, where applicable.
Investopedia content is for informational purposes and is not intended to substitute for the advice of a licensed or certified attorney, accountant, financial advisor, or other certified financial professionals.
Our staff of editors and network of expert contributors write and manage all the articles you find on Investopedia. We don’t make recommendations for you to buy, sell, or hold securities or investments. We do, however, provide relevant analysis, context, insights, and educational information to help you make smarter, better-informed decisions. Wherever possible we provide examples that help put complex topics and concepts into perspective.
Our editorial team is continually evaluating the articles across our site to flag any that contain information that is known to be or is likely to be out-of-date. Such articles are reviewed and updated or, if necessary, completely rewritten, rechecked, and re-edited. Our network of experienced experts, who uphold our process and policies, assist with our updating efforts. Articles that have been updated are date-stamped to reflect this.
Every article you see has multiple people behind it, continually working to make sure that it is responsible, accurate, understandable, helpful, and reflective of our editorial principles.
Our editorial team approves all story ideas independently, and our expert contributors each have deep subject matter expertise in the topics that we assign them. Our team of professional editors, fact checkers, and producers review content to ensure it upholds our values of being empowering, inclusive, unbiased, and accurate.
All staff are responsible for disclosing any potential conflicts of interest.
Investopedia is committed to telling readers when an error has appeared, and to correcting it. This transparency applies to small and large mistakes, including news, but only if an error was made at the time of original publication. Corrections will be clearly noted on the page. When our journalism is factually correct, but the language is not as clear or detailed as necessary, the story may be updated without an editor's note. Please report possible errors to firstname.lastname@example.org.
Investopedia experts are carefully recruited, vetted, and chosen. Some are experienced financial writers, others are experts in particular aspects of finance; many are both. They are selected for their knowledge and their skill at communicating complex topics in clear, accessible, actionable language.
Every article’s author or reviewer is listed at the top of the page, to the left of the date, and is linked to their biography, which you can click on to learn more about their credentials, education, professional experience, and social media presence.
All writers are required to uphold the editorial guidelines listed above.
Third-party content is carefully reviewed by the Investopedia editorial team to ensure that it is aligned with our policies and standards. Any such content is labeled clearly and conspicuously to notify you of its source.
Updated June 12, 2020
Investopedia accepts advertising, but maintains a strict and clear separation between advertising and editorial content. Special attention is paid to featuring advertising in a way that will not interfere with your reading experience. This relates to both page design and to the number of ads we choose to feature on a page.
Investopedia maintains a distinct separation between advertising and editorial content.
The way that we're able to offer over 30,000 articles of great content on our website for free is by partnering with advertisers and affiliate partners who are looking to reach consumers. This can take a number of different forms, and we'll walk through those below. It's important to note that we maintain strict editorial independence for all of our content, particularly on reviews and recommendations. If a product is great, we'll tell you even if we don't have an advertising relationship. If we think a product is bad, we'll tell you that, even if we DO have an advertising relationship with them. While we do recommend and review products regardless of any advertising relationships, we may not have reviewed every product available in a given category.
In some cases we may have an affiliate relationship with a product that we review, and so when you click on an "Open Account" button or sometimes a hyperlink on the product's name in those cases we may receive compensation either when you click on it it or if you decide to sign up for the product. Whether or not we have an advertiser in place does not change the placement of the button or whether there's a link for you to go to their website.
On some review/recommendations we may include a comparison table of products that are offers from advertisers. While we do work hard with partners to try and surface the best paid offers possible in these comparison tables, it's important to note that they are NOT editorially selected. Here's an example of what that can look like, notice the Advertising Disclosure link in the top right corner:
Some review/recommendations may include display advertising on them, which will be labelled as advertisements and are easily recognized.
Updated September 27, 2021
We may collect information, including personal data, directly from you if you choose to provide that information. For example, you may provide us with your name and contact information (such as an email address), date of birth, or other details of that nature, when you sign up for our newsletters or participate in promotions or surveys on the Site.
You also may choose to provide personally identifiable information about yourself when you participate in forums or discussions on the Site. Please be aware that information you post in these forums may be viewed or captured by anyone who visits the Site, therefore you should avoid posting sensitive personal data that you would not want to be available to the public.
When you access the Site, we and our third-party partners and vendors may automatically collect certain information about your visit using tools such as cookies, web beacons, and other similar technologies. The information collected automatically when you visit the Site may include your IP address, characteristics of your operating system, information about your browser and system settings, data about the computer or mobile device you use to access the Site, unique device identifiers, clickstream data (which shows the page-by-page path you take as you browse the Site). We or our third-party partners may combine information that each of us collects automatically with other information about you, including information you choose to provide.
To manage our automatic data collection, we may place tags (often referred to as “web beacons”) on pages on the Site or in emails we send to you. Web beacons are small files that link web pages to particular web servers and their cookies, and they may be used for a variety of purposes, such as counting the number of visitors to the Site, analyzing how users navigate around the Site, assessing how many emails that we send are actually opened and which articles or links are viewed by visitors.
We also use third-party web analytics services, such as Google Analytics, on the Site, to provide us with statistics and other information about visitors to the Site.
“Do Not Track” Signals. Your browser settings may allow you to automatically transmit a “do not track” signal to websites and online services you visit. At this time there is no consensus among industry participants as to the meaning of “do not track” in this context. Like many other websites, investopedia.com is not configured to respond to “do not track” signals from browsers. Click here to learn more about “do not track” signals.
Finally, companies that provide certain third-party apps, tools, widgets, and plug-ins that may appear on the Site (for example, Facebook “Like” buttons), also may use automated means to collect information regarding your interactions with these features. This information collection is subject to the privacy policies or notices of those providers.
How We May Use Information We Collect
We may use the information gathered on Investopedia for various purposes, including the purposes listed below. For example, if you were to contact us with a question and provide your email address, we would use the email address you provided to respond to your inquiry. In addition, we use information we collect from you and through the Site to:
How We May Share Information
Our agents, vendors, consultants, and other service providers may have access to information we collect through the Site to carry out work on our behalf. Those parties are subject to confidentiality obligations and are restricted from using personal data collected through the Site for purposes other than to provide the requested assistance. In addition, we may share information:
Data Retention and Access
We will retain your personal data only for as long as necessary for the purposes it was retained, such as to enable you to use the Website and your products or to provide services to you. In some instances, we may retain data for longer periods in order to comply with applicable laws (including those regarding document retention), resolve disputes with any parties, and otherwise as necessary to allow us to conduct our business.
Under certain circumstances we will not be able to fulfill your request, such as if it interferes with our regulatory obligations, affects legal matters, we cannot verify your identity, or it involves disproportionate cost or effort, but in any event we will respond to your request within a reasonable timeframe and provide you an explanation. In order to make such a request of us, please email us at email@example.com.
Unsubscribe from emails. To unsubscribe from a particular newsletter, click the "unsubscribe" link at the bottom of that email newsletter. If you would like to globally opt-out from ALL Investopedia email campaigns please send an email to firstname.lastname@example.org with "Unsubscribe" in the subject line. When we send newsletters to subscribers we may allow advertisers or partners to include messages in those newsletters, or we may send dedicated newsletters on behalf of those advertisers or partners. We may disclose your opt-out choices to third parties so that they can honor your preferences in accordance with applicable laws.
Disabling local shared objects . We may use other kinds of local storage that function similarly, but are stored in different parts of your computer from ordinary browser cookies. Your browser may allow you to disable its HTML5 local storage or delete information contained in its HTML5 local storage. Click here for details about deleting information contained in “local shared objects” or adjusting related preferences.
How We Protect Personal Data
We maintain appropriate administrative, technical, and physical safeguards designed to protect the personal data you provide against accidental, unlawful, or unauthorized destruction, loss, alteration, access, disclosure, or use. That said, it is not possible to guarantee the security of information transmitted online, and you assume some risk with regard to the security of information you provide through any website, including this Site. If you have a data security inquiry, you may contact us by emailing email@example.com. To request an invite to our bug bounty program to submit reports on vulnerabilities found on investopedia.com, you may contact us by emailing firstname.lastname@example.org.
Links From Investopedia to Other Site
On this Site we may provide links to other websites that are controlled by third parties. Linked websites may have their own privacy notices or policies, which we strongly suggest you review. We are not responsible for the content, usage terms, privacy policies of websites that we do not own or control.
Surveys and Quizzes
This Site is not designed or intended for use by children, and we do not knowingly collect personal data from children under the age of 16. If we become aware that we have collected personal data from a child under the age of 16, we will delete any such information.
Information for Users Outside the United States
Your personal data may be stored, transferred and processed in and to the United States and in other countries by our affiliates and/or service providers. The data protection laws in these countries may provide a lower standard of protection for your personal data than your country of residence. We take great care in protecting your personal data and have put in place adequate mechanisms to protect it when it is transferred internationally. We will transfer your personal data in compliance with applicable data protection laws and will implement suitable safeguards to ensure that your personal data is adequately secured by any third party that will access your information (for instance, by using the Model Clauses as approved by the European Commission).
If you have questions or wish to obtain more information about the international transfer of your personal data or the implemented safeguards, please send us an email to email@example.com.
How to Contact Us
If you have questions about this policy or about our privacy practices, you may contact us by emailing firstname.lastname@example.org.
If you are a California resident inquiring about your California privacy rights, please include “California privacy rights request” in the subject line of your email.
If you are a resident of the European Economic Area inquiring about your rights under the General Data Protection Regulation (“GDPR”), please include “GDPR privacy rights request” in the subject line of your email.
You may also write to:
28 Liberty Street, 7th Floor, New York, NY 10005
If you have an unresolved privacy or data use concern that we have not addressed satisfactorily, please contact our U.S.-based third party dispute resolution provider (free of charge) at https://feedback-form.truste.com/watchdog/request.
This California Consumer Act Privacy Notice ("CCPA Notice") applies to "Consumers" as defined by the California Consumer Privacy Act ("CCPA"). For the purpose of this CCPA Notice, personal information applies to “Personal Information” as defined by the CCPA (also referred to herein as "PI").
We collect and share the following categories of PI from the corresponding sources and for the corresponding purposes set forth in the table below.
Some browsers have signals that may be characterized as do not track signals, but we do not understand them to operate in that manner or to indicate a do not sell expression by you, so we currently do not recognize these as a do not sell request. We understand that various parties are developing do not sell signals and we may recognize certain such signals if we conclude such a program is appropriate.
California Consumers have the right to exercise the privacy rights under the CCPA. California Consumers may exercise these rights via an authorized agent who meets the agency requirements of the CCPA. Any request you submit to us is subject to an identification and residency verification process (“Verifiable Consumer Request“). We will not fulfill your CCPA request unless you have provided sufficient information for us to reasonably verify you are the Consumer about whom we collected PI. In order to verify your identity, we will send you an email to the email address that you provide to us, and you must take action as described in our email. This will enable us to verify that the person who made the request controls and has access to the email address associated with the request. We will check our systems for the email address that you provide, and any information associated with such email address. If you provide us with an email address that has not been used to interact with us, then we will not be able to verify your identity. In other words, the only reasonable method by which we may verify the identity of individuals is if we have an email address on file that was provided to us in relation to our services. We will be unable to fulfill your request if we cannot verify your identity. Please follow the instructions at our Consumer Rights Request page here and respond to any follow up inquiries we may make.
Some personal information we maintain about Consumers is not sufficiently associated with enough personal information about the Consumer for us to be able to verify that it is a particular Consumer's personal information (e.g., clickstream data tied only to a pseudonymous browser ID). As required by the CCPA, we do not include that personal information in response to Verifiable Consumer Requests. If we cannot comply with a request, we will explain the reasons in our response.
We will make commercially reasonable efforts to identify Consumer PI that we collect, process, store, disclose, and otherwise use and to respond to your California Consumer privacy rights requests. We will typically not charge a fee to fully respond to your requests, but we may charge a reasonable fee, or refuse to act upon a request, if your request is excessive, repetitive, unfounded, or overly burdensome.
To make a request according to your rights to know or to request deletion of your PI set forth below, please click here, where you will find a description of the process we use to verify your request and any information that we will need to confirm your identity. In order to verify your identity, we will send you an email to the email address that you provide to us, and you must take action as described in our email. This will enable us to verify that the person who made the request controls and has access to the email address associated with the request. We will check our systems for the email address that you provide, and any information associated with such email address. If you provide us with an email address that has not been used to interact with us, then we will not be able to verify your identity. In other words, the only reasonable method by which we may verify the identity of individuals is if we have an email address on file that was provided to us in relation to our services. We will be unable to fulfill your request if we cannot verify your identity.
For your specific pieces of information, as required by the CCPA, we will apply heightened verification standards, which may include a request to provide further information.
You have the right to send us a request, no more than twice in a twelve-month period, for any of the following for the period that is twelve months prior to the request date:
You have the right to make or obtain a transportable copy, no more than twice in a twelve-month period, of your PI that we have collected in the period that is 12 months prior to the request date and are maintaining.
Please note that PI is retained by us for various time periods, so we may not be able to fully respond to what might be relevant going back 12 months prior to the request.
Except to the extent we have a basis for retention under CCPA, you may request that we delete your PI that we have collected directly from you and are maintaining. Note also that we are not required to delete your PI that we did not collect directly from you.
You may alternatively exercise more limited control of your PI by instead exercising one of the following more limited opt-outs, including unsubscribing from email newsletters.
We will not discriminate against you in a manner prohibited by the CCPA because you exercise your CCPA rights. However, we may charge a different price or rate, or offer a different level or quality of good or service, to the extent that doing so is reasonably related to the value of the applicable data. In addition, we may offer you financial incentives for the collection, sale and retention and use of your PI as permitted by the CCPA that can, without limitation, result in reasonably different prices, rates, or quality levels. The material aspects of any financial incentive will be explained and described in its program terms. Please note that participating in incentive programs is entirely optional, you will have to affirmatively opt-in to the program and you can opt-out of each program (i.e., terminate participation and forgo the ongoing incentives) prospectively by following the instructions in the applicable program description and terms. We may add or change incentive programs and/or their terms by posting notice on the program descriptions and terms linked to above so check them regularly.
If you are located in the European Economic Area (EEA):
1. Controller of your Personal Data
2. Legal Bases for Using Personal Data
We process your personal data only if we have a legal basis to do so, including:
The purpose for which we use and process your information and the legal basis on which we carry out each type of processing is further explained below.
3. International Transfers
Some of our processing of your data will involve transferring your data outside the European Economic Area ("EEA"). Some of our external third-party service providers are also based outside of the EEA, and their processing of your personal data will involve a transfer of data outside the EEA. This includes the United States. Where personal data is transferred to and stored in a country not determined by the European Commission as providing adequate levels of protection for personal data, we take steps to provide appropriate safeguards to protect your personal data, including when appropriate entering into standard contractual clauses approved by the European Commission, obliging recipients to protect your personal data.
4. Retention of Personal Data
5. Data Subject Access Rights
You have the following rights:
In order to exercise any of these rights, please contact us according to the “How to Contact Us” section herein. Please note that the above rights are not absolute and we may be entitled to refuse requests, wholly or partly, where exceptions under the applicable law apply. You can also manage your consent permissions and cookie preference by clicking on the EU Privacy link at the bottom of any page.
Updated March 14, 2019
If you subscribe to any Services offered through this Site, you may also be subject to additional terms and conditions ("Terms of Service" or "TOS") applicable to such Services, which will be brought to your attention at that time.
We do not guarantee that access to or use of this Site or any Services will be uninterrupted or error free, and Investopedia shall not be liable for any feature not being accessible or for any unavailability of its Site and Services. The Site and its features may be expanded, limited or modified at any time by Investopedia to meet the needs of its Users, or for technical or other reasons, without advance notice or reason. We may also in our sole discretion, and at any time, discontinue providing, temporarily or permanently, any or all of the Site or Services, without notice. To access some of the content or features of the Site or its Services, Users may need to enhance or update the hardware or software in their computer systems. Investopedia assumes no responsibility for any failure to access the Site or any Services, partially or fully, whether due to the User's system, the Internet network or any other cause.
We do not provide information or services to minors, and if you are under 18, and at least 13 years of age, you may only use this Site and/or the Services with the active involvement of a parent, guardian or other supervising adult. You may not use this Site if you are under 13 years of age.
This Site does not provide individual or customized legal, tax, accounting, or investment services. Since each individual's situation is unique, a qualified professional should be consulted before making financial decisions.
We make no guarantees as to the accuracy, thoroughness or quality of the information on this Site or through the Services, which is provided only on an “AS-IS” and “AS AVAILABLE” basis at User’s sole risk. This information may be provide by third parties and Investopedia shall not be responsible or liable for any errors, omissions or inaccuracies in the Site content. The information and investment, accounting, or legal strategies provided at this Site are neither comprehensive nor appropriate for every individual. Some of the information is relevant only in Canada or the U.S., and may not be relevant to or compliant with the laws, regulations or other legal requirements of other countries. It is your responsibility to determine whether, how and to what extent your intended use of the information and Services will be technically and legally possible in the areas of the world where you intend to use them. You are advised to verify any information before using it for any personal, financial, accounting, legal, or business purpose. In addition, the opinions and views expressed in any article on this Site are solely those of the author(s) of the article and do not reflect the opinions of Investopedia or its management. The Site content and services may be modified at any time by us, without advance notice or reason, and Investopedia shall have no obligation to notify you of any corrections or changes to any Site content.
We grant you a limited personal use license to access, display, download, format and print portions of this Site content solely for your own personal non-commercial use, provided that the content is not modified and all proprietary notices are kept intact. You may not reproduce, publish, translate, merge, sell, rent, distribute the content, or create a derivative work of the content on any other website or as part of any educational, training or reference materials. You may not frame or utilize framing techniques to enclose any content on this Site.
Please note that, if you purchase any Courses (as defined herein) through the Investopedia Academy that purchase is subject to specific license rights provided for in the Investopedia Academy section of this TOU (below).
Any testimonials, opinions, advice, product or service offers, or other information or content made available on or through this Site by third parties (“Third Party Content”) are solely those of their respective providers and not of Investopedia which does not guarantee the accuracy, completeness, reliability or usefulness of Third Party Content. It is the responsibility of the User to evaluate Third Party Content and Investopedia shall not be liable for any damage or loss caused by Users’ reliance on or other use of Third Party Content.
To the extent we enable you to, and you choose to post or share any content or materials, including, without limitation, through the AI Service (e.g. questions) or through the Investopedia Academy Service (e.g., quizzes, homework, projects, etc.) (“User Content”) you will be: (a) granting Investopedia a fully transferable, sub-licensable (with rights to sublicense, including, without limitation, through multiple tiers) to display, perform, reproduce, modify, transfer, distribute and create derivative works from the User Content and to associate your public profile information (if any) with such User Content, in any media formats and through any channels (whether now known or hereafter developed) and waiving any moral rights in favor of Investopedia with respect to such use of the User Content; (b) granting Investopedia a perpetual, world-wide, royalty-free, fully paid-up, non-exclusive license to allow your materials to be edited and displayed by Investopedia on its Site, and accessed by Users, for the purposes and on the terms as set out in these TOU; (c) agreeing to indemnify and hold harmless Investopedia and its Users from any claim or demand made by any third party due to or arising out of your User Content; and (d) representing that you own or otherwise have the right to post the User Content, that the User Content is accurate, that use of the User Content on the Site does not violate any laws, and that the materials will not cause injury to any person, including without limitation to the intellectual property, personal or privacy rights of others. Investopedia shall have the right to use your name in connection with your posted User Content. Investopedia reserves the right to remove or modify any User Content for any reason, including without limitation, if we believe it violates these TOU.
If you choose to post any User Content and interact with other users, if applicable, please be respectful of other users and use common sense when posting comments. Remember that anything you post online may be perpetually available and is not confidential or private. Do not post anything you would not be comfortable sharing or being made public.
Investopedia may, in its sole discretion, provide certain widgets subject to this TOU (the “Widgets”). By accessing and using any Widget (including copying any Widget html code), you agree to be bound by the following:
General. Some of the Services offered by Investopedia require you to create an account. When you create an account, you agree that you have the authority to create that account and that all information you provide will be true, accurate, current, and complete. You are solely responsible for keeping your login information (e.g., user ID and password) accurate, secure, and confidential. You are also responsible for any activity resulting from use of your login information. You agree to immediately inform us if you suspect that your login information has been comprised. We are not liable to you for any losses or damages you incur resulting from unauthorized use of your login information.
Social Sign in. If you login or sign in using social networking functionality, e.g., Facebook, you agree to abide by the applicable social network’s terms and conditions.
Investopedia may offer certain services, including, for example, Investopedia’s Advisor Insights service (the “AI Service”), which allow users to engage in one or another manner with a network of third party experts and advisors (including by submitting proposed questions to be posed to financial planning and personal finance professionals). Your use of and reliance on such services, if any, is entirely at your own risk, and you are solely responsible for complying with this TOU at all times. Your submissions (including any public profile information associated with such submission) and any associated responses from our advisor network, all of which materials constitute Third Party Content under this TOU, may be displayed in publicly viewable forums. Submission of a question does not guarantee a response will be provided. Please note that we also enable you to follow individual advisors by clicking on the “follow” button on an advisor’s Investopedia profile page and providing your email address. If you choose to follow any advisor, you agree to receive weekly recaps of the advisors content via an email newsletter. You may unsubscribe from receiving an advisor newsletter at any time by clicking the opt-out link in any email communication from us and/or by accessing the “Manage Subscriptions” page on our Site. Please also see our “Communications” section below for more information on how we may communicate with you regarding the AI Service and other services we offer.
IMPORTANT: No Client Relationship; No Privilege. By answering questions, advisors do not intend to form, and do not form an advisor-client, planner-client, or any other direct privileged or professional relationship with any user of the Site. Please keep in mind that laws, regulations, other governing authorities, standards, practices and procedures that apply to your particular question may differ depending on your location. Additionally, none of the Third Party Content will be treated as private or confidential, nor is it protected by attorney-client, or any other privilege, and it may be read, collected, and used by Investopedia and others. Search engines may index your questions, answers, and other Third Party Content to allow such content to appear in search engine results (e.g. if someone does a search on google.com or another search engine, your questions, answers, and other Third Party Content on our Site that relate to the search may appear in the search results list with links to your questions, answers, and other Third Party Content).
PLEASE NOTE: Investopedia does not provide tax, accounting, legal, investment, or financial services. The information available through Investopedia’s AI Service is provided by third parties and solely for informational purposes on an “as is” basis at user’s sole risk. The information is not meant to be, and should not be construed as advice or used for investment, financial planning, legal, accounting, or tax purposes. Investopedia makes no guarantees as to the accurateness, quality, or completeness of the information and Investopedia shall not be responsible or liable for any errors, omissions, inaccuracies in the information or for any user’s reliance on the information. User is solely responsible for verifying the information as being appropriate for user’s personal use, including without limitation, seeking the advice of a qualified professional regarding any specific financial, legal, accounting, or tax questions a user may have. While Investopedia may edit questions provided by users for grammar, punctuation, profanity, and question title length, Investopedia is not involved in the questions and answers between advisors and users, does not endorse any particular financial, legal, accounting, or tax professionals that provide answers via the AI Service, and is not responsible for any claims made by any advisor. Investopedia is not endorsed by or affiliated with any state/provincial/territorial bar association or other legal or accounting membership organization or association, tax authorities, or agencies or associations, or the Financial Industry Regulatory Authority (FINRA) in the U.S., the Investment Industry Regulatory Organization of Canada (IIROC) or any other financial regulatory authority, agency, or association.
POSTS ARE NOT CONFIDENTIAL. The Advisor Insights is a forum-based service and any information and materials you submit in connection with your profile and/or any questions you pose to any one of the advisors via the AI Service may be displayed in publicly viewable forums.
Participation in the AI Service as an advisor involves a vetting and approval process. Acceptance into the AI Service is at Investopedia’s sole discretion and may be based on such factors as licenses/registrations, designations, assets under management, SEC/FINRA or IIROC disclosures, applicable state/provincial/territorial regulator information, federal/state/provincial/territorial agencies in connection with tax and/or accounting licensing boards and/or agencies, and other considerations deemed relevant by Investopedia in its sole discretion. By applying to the AI Service, you are representing and warranting to the accuracy and completeness of all information provided to Investopedia during and after the application process.
If accepted into the AI Service, you agree to promptly notify Investopedia if any information previously provided becomes incorrect or otherwise obsolete. Participation in the AI Service requires, at a minimum, that you maintain your status as a registered financial advisor. You shall be solely responsible for ensuring ongoing compliance with all registration requirements and any obligations imposed by applicable regulators and/or your employer. Should you lose your status as a registered financial advisor, or if there has been any other material change to your profile or the information submitted as part of the application process (including if you become subject to any legal or regulatory action, proceeding or sanctions), you agree to immediately cease participating in the AI Service, and to promptly notify Investopedia so that your profile may be suspended or removed.
By applying for and/or participating in the AI Service, you acknowledge that the purpose of the AI Service is to be a source of general information and education for Investopedia’s users at large and, accordingly, while answers you publish through the AI Service may include analysis of different options and considerations given the facts indicated by the questioners, answers may not include a recommendation that the questioner take a specific course of action. Specifically,
Your participation in the AI Service is specifically to allow you to provide answers to questions posed through the AI Service. Investopedia does not answer AI Service questions itself, nor does it provide tax, investment, financial, tax, accounting, or legal services. Investopedia is under no obligation to review, edit or verify the usefulness, reliability, completeness or accuracy of any answers you publish through the AI Service, and Investopedia expressly disclaims any and all liability in connection with your answers or other submissions through the AI Service, for which you shall be solely liable. Investopedia does, however, reserve its right to remove any answer or other content from the AI Service or the Investopedia website generally, in its sole discretion, and with or without advance notice. By publishing an answer to an AI Service question, you are attesting to such answer’s veracity, completeness and accurateness, as well as having all necessary rights to publish such answer. By submitting an answer you additionally grant Investopedia a worldwide, non-exclusive, irrevocable, royalty-free right and license (with rights to sublicense, including, without limitation, through multiple tiers) to display, perform, reproduce, modify as to format or appearance but not substance, transfer and distribute such content (with or without your associated public profile information), in any media formats and through any channels (whether now known or hereafter developed). In addition, by submitting an answer, you waive all moral rights in such content in favor of Investopedia. You agree to not post the identical answer on any website other than your own personal or professional website, and social media platforms.
In addition to participating in the AI Service by providing answers to users’ questions, you will also have the opportunity to contribute other content for inclusion on our website, including without limitation, articles. All such additional submissions are in our discretion and are subject to this TOU. By submitting any such content, you grant Investopedia a worldwide, non-exclusive, irrevocable, royalty-free right and license (with rights to sublicense, including, without limitation, through multiple tiers) to display, perform, reproduce, modify as to format or appearance but not substance, transfer and distribute such content (with or without your associated public profile information), in any media formats and through any channels (whether now known or hereafter developed). In addition, by submitting such content, you waive all moral rights in such content in favor of Investopedia. You agree to not post the identical content on any competing website.
You agree to indemnify and hold Investopedia harmless from and against any claims arising out of or related to your participation in the AI Service, including those alleging that any answer or other content you submit to or publish through the AI Service, or your participation in the AI Service, violates any law or regulation or infringes or otherwise violates any intellectual property or other proprietary right of any person or entity.
You are not entitled to or eligible for any compensation or benefits with respect to your participation in the AI Service. Your participation in the AI Service is solely in your discretion. You are, and at all times shall be, an independent contractor, and nothing in this TOU is intended or should be construed to create a partnership, joint or co-venture, franchise, agency or employer-employee relationship between Investopedia and you. You will take no position with respect to or on any tax return or application for benefits, or in any proceeding directly or indirectly involving Investopedia that is inconsistent with your being an independent contractor (and not an employee) of Investopedia. You are not the agent of Investopedia and you are not authorized, and must not represent to any third party that you are authorized to make any commitment, assume any obligation, undertake any liability or otherwise act on behalf of Investopedia. This TOU, and our relationship, is a commercial, arm’s-length relationship and does not create any special or fiduciary relationship. In your capacity as an independent contractor, you agree that you: (i) determine, in your sole discretion and judgement, the time, mode, manner, method and means used by you in your participation in the AI Service; (ii) have the right to control how such participation is to be performed; (iii) may accept or choose not to participate in the AI Service; and (iv) are free to accept work from persons, firms and other third parties other than Investopedia.
If, notwithstanding the foregoing, you are reclassified as an employee of Investopedia, or any affiliate of Investopedia, by the U.S. Internal Revenue Service, the U.S. Department of Labor, the Canada Revenue Agency or any other federal, state/provincial/territorial or foreign agency as the result of any administrative or judicial proceeding, you agree that you will not, as the result of such reclassification, be entitled to or eligible for, on either a prospective or retrospective basis, any compensation or employee benefits under any plans or programs established or maintained by Investopedia.
In the event that Investopedia makes general education and/or continuing education webinars available to financial advisors or others (each a “Webinar” and together “Webinars”), the below applies in addition to the rest of the terms of this TOU. You understand and agree to receiving communications from Investopedia and/or providers of these Webinars, including as set forth in the “Communications” section of this TOU. Investopedia reserves the right at any time and for any reason and without notice to you, to change, modify, suspend, or cancel access to and/or any and all of the Webinars and/or services related to the Webinars, in whole or part.
For Informational Purposes Only. Each Webinar and any content or materials provided in connection with any Webinar is for informational purposes only. Information may not be applicable for each state/province/territory and/or jurisdiction. Investopedia cannot guarantee that any information provided in a Webinar will be accurate, complete, and/or current at all times. We make no representations or warranties regarding the quality of the Webinar content, related materials, or any instructor.
All Webinar content is owned by or licensed to Investopedia and/or its licensed content providers, and all such rights are reserved. You may not reproduce, upload, transmit, distribute, publicly display, sell, publish, copy, or otherwise use the Webinar, and/or any content or materials provided in connection with any Webinar for any commercial purpose without Investopedia’s express written consent.
The appearance of any instructor in any Webinar is not and shall not be deemed an endorsement or recommendation of that instructor by Investopedia and the views expressed in any Webinar are those of the instructor and not Investopedia.
General. Investopedia offers online information courses, workshops, classes and other educational programs relating to the world of finance to you for a fee (“Course(s)”) through its Investopedia Academy services. For clarity, the Investopedia Academy is included as part of the Services offered by Investopedia. Investopedia may also offer you the ability to engage in communication with fellow users taking the Courses. This TOU, including this section specifically on Investopedia Academy, govern your purchase, use and/or access to any Course. You must login to your account to sign up for a Course. Investopedia uses third party services to provide the platform for the Courses as well as for payment processing and those third parties may have access to your information for the purposes of providing the Course Services. Please note that we may communicate with you as set forth in the “Communications” section of this TOU in connection with the provision of the Investopedia Academy and/or other Investopedia services.
Informational Purposes Only. These Courses are offered for information purposes only. Neither Investopedia, nor any person providing instruction in any Course, is providing you legal, accounting, investment or financial advice. You are solely responsible for confirming the accuracy and appropriateness of the information for your own uses with your tax, finance, or legal advisor. Investopedia’s provision of any Course or the appearance of any specific person instructing any Course is not a recommendation by Investopedia of that Course, the content contained therein or the person providing instruction. We do not employ any instructors and are not responsible or liable to you for any interactions between you and any instructor or any other user of the Services. We make no representations or warranties as to the quality of any Course or instructor.
No Academic Credit. Investopedia is not an accredited educational institution. Your participation in, or completion of, any Course does not confer any academic credit. Nothing in this TOU or otherwise through the Services or on our Site, enrolls you in any educational institution or in any course offered by any such institution.
Payment. Each Course, bundle of Courses, or subscription package (the “Online Course Offering”) is offered for certain price as listed on the relevant landing page. All fees are in U.S. dollars. To purchase an Online Course Offering you must provide one or more Payment Methods. You represent and warrant that you are authorized to use any and all Payment Method(s) you use to purchase an Online Course Offering. You agree to pay for all Investopedia products and services that you purchase, and agree that we may charge your selected payment method through our third party payment processor for any such payments. If your payment method fails, we may collect fees owed or use other collection methods. We may also suspend or terminate your access to our Services. For some Payment Methods, the issuer may also charge you certain fees, such as foreign transaction fees or other fees relating to the processing of your Payment Method. Local tax charges may vary depending on the Payment Method used. Check with your provider for details. “Payment Method” means a current, valid, accepted method of payment as may be updated from time to time and which may include payment through your account with a third party).
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Course Ownership. We and our licensors own all right, title and interest in and to the Course(s) and related materials. We and/or third party licensors either own or have all necessary rights in and to the content contained in any Course (e.g., lectures, video lessons, quizzes, presentation materials, assignments, images, text, displays, documents, audio and/or video clips, HTML, etc.). The foregoing includes any and all copyrights, trademarks, or other proprietary rights under applicable law. Nothing contained in this TOU or in any Course conveys to you any ownership or other proprietary right except as otherwise set forth herein.
Any Investopedia logos and/or trademarks that appear in any Course are our property and may not be used without our express written consent. All other trademarks, service marks and logos used in connection with any Course, with or without attribution, are the trademarks, services, or logos of their respective owners and may not be used without their express written consent.
Your Use of the Courses. Subject to your compliance with this TOU and any other guidelines or policies we include through the Services, Investopedia grants you a limited, non-transferable, non-sublicenseable, non-exclusive, revocable license to make non-commercial, personal use of the Courses you purchase. Purchase of a Course only entitles you to the view the Course, and is not a purchase of the software or content included in the Course. Except as set forth below, Investopedia reserves the right to terminate your access to the Site at any time for any reason or no reason at all, with or without notice to you. Unless you have, as determined in our sole discretion, violated this TOU, such termination will not terminate your right to view any Courses you have already purchased. You may not transfer your account to any other person or use anyone else’s account. Except as otherwise expressly permitted in this TOU, you are prohibited from and may not copy, sell, re-sell, display, reproduce, publish, modify, creative derivative works from, transfer, distribute, or commercially exploit the Courses and/or any related materials; and Investopedia reserves the right to pursue legal action against you in connection with any unauthorized use of the Courses, the related materials, or your violation of this TOU, whether at law or equity.
Subject to your satisfactory completion of a Course, as determined by Investopedia in its sole discretion, Investopedia may provide you with a certificate of accomplishment upon conclusion of the applicable Course. You acknowledge that any such certificate merely indicates completion of a Course and is not affiliated with any college, university, company, or other certifying institution, and does not stand in the place of a course taken at any academic institution and does not convey academic credit or certification for any such academic institution and neither Investopedia nor any instructor has any obligation to you to assist you in obtaining any such credit or certification.
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Refunds and Cancellations: If you cancel your subscription and request a refund within the first 30 days of your subscription, we will refund your initial payment. Thereafter you can cancel your subscription at any time, and you will continue to have access to the subscription service through the end of your monthly billing period. To the extent permitted by the applicable law, payments are non-refundable and we do not provide refunds or credits for any partial-month subscription periods or unwatched Investopedia content. Notwithstanding the forgoing, if you cancel within 3 business days of signing up for a paid subscription, we will refund your full subscription fee; however, we may charge you (or withhold from your refund) the prorated value of the subscription service used by you and your account during this 3-business day period. To cancel, please email email@example.com. If you cancel your subscription, your account will automatically close at the end of your current billing period. In the event you cancel your subscription, please note that we may still send you promotional communications about Investopedia products and services, unless you opt out of receiving those communications by following the unsubscribe instructions provided therein.
Price and Subscription Plan Changes: We may change the subscription plans available and / or the price of our service from time-to-time, provided that any price changes will apply to you no earlier than 30 days following notice to you. We may offer several different subscription plans, including special promotional plans and some plans may have different terms and conditions, which will be provided to you at sign-up or through other communications to you.
If you register for the Site’s Stock Market Game, you may accrue virtual cash and securities (“Virtual Assets”) that may be used and virtually spent in the Site environment. Virtual Assets are a limited license right, distributed at our discretion, and have no monetary value. You may not sell, transfer or trade Virtual Assets, except as permitted on the Site in accordance with the rules of the Stock Market Game, which we may change at any time at our sole discretion. You shall not acquire any ownership right to Virtual Assets. We may terminate your license right and withdraw or discontinue any Virtual Asset, or may remove your right to use any particular Virtual Asset at any time for any reason, with or without notice to you.
Investopedia may offer incentives, offers, promotions, discounts, sweepstakes, or contests in connection with its Services. In the case of sweepstakes or contests, you will be provided separate terms and conditions that must be agreed to in order to be eligible for participation in any sweepstakes and/or contests. In connection with any incentives, rewards, or similar programs (For example, but not limited to, the Advisor Insights incentives program for financial advisor users and discount codes for Investopedia Academy), any such program is issued at Investopedia’s sole discretion and cannot be transferred, bartered or sold or used for a purchase where payment is made using payment information (e.g., a credit card number or PayPal account). Any such incentives and/or programs are not a payment instrument; they are issued without any exchange of money or value from you and you have no vested property right or interest in the incentives. Investopedia reserves the right to cancel or revoke any incentives or programs, or your participation therein, for any reason or no reason whatsoever, including, without limitation, if it determines in its sole discretion that you have violated these terms, the terms specific to any rewards, incentive, or other program, or the rest of this TOU. Investopedia reserves the right in its sole discretion at any time and without prior notice to you, to add to, remove or otherwise change the terms applicable to the issuance and use of any incentive, offers, promotions or other similar program.
Investopedia may, at its sole discretion, offer discounts to Investopedia Academy courses. Such discounts are not applicable toward past purchases and cannot be combined with any other offers or promotions. Discounts apply toward the purchase price of an Investopedia Academy course, only, and cannot be applied toward taxes or other fees. Discounts offered by Investopedia have no cash value, and are nontransferable. No cash/credit back. Each discount code may only be used once, and only one discount code may be used per purchase. Investopedia reserves the right to modify or discontinue accepting any discount code or other discount at any time without notice. Void where prohibited by law. In the event of any violation of this TOU or other terms of any discount offered by Investopedia, Investopedia shall be entitled to suspend and/or revoke access to your Investopedia Academy account.
In the event that Investopedia makes available reviews of online brokers (each a “Review” and together the “Reviews”), the below applies in addition to the rest of the terms of these TOU. You understand and agree to receiving communications from Investopedia, including as set forth in the “Communications” section of this TOU. Investopedia reserves the right at any time and for any reason and without notice to you, to change, modify, suspend, or cancel access to and/or any and all of the Reviews.
For Informational Purposes Only. Each Review is provided for informational purposes only. Information may not be applicable for each state/province/territory and/or jurisdiction. Investopedia cannot guarantee that any information provided in a Review will be accurate, complete, and/or current. We make no representations or warranties regarding the quality of the Review content.
You may not reproduce, upload, transmit, distribute, publicly display, sell, publish, copy, or otherwise use the Review, and/or any content or materials provided in connection with any Review for any commercial purpose without Investopedia’s express written consent.
The publication by Investopedia of any Review is not and shall not be deemed an endorsement or recommendation of that broker by Investopedia and the views expressed in any Review are those of the Reviewer and not Investopedia.
The information contained in a Review may be different from the information provided when you visit the website of a financial institution, service provider or specific product. When evaluating online brokers, please review the online broker’s own terms and conditions. We do not make any warranties or representations regarding the quotes, fees, terms, rates, coverage or services offered or made available by online brokers. We do not guarantee that quotes, fees, terms, rates, coverage or services offered by online brokers are the best available. We are not involved with and are not responsible for any fee arrangement that you may enter into with any online broker or other service provider. You hereby release us of any and all losses, costs, damages or claims in connection with, arising from or related to your use of a service provider’s products or services.
Investopedia may receive compensation from online brokers when a user applies or gets approved for a financial product through our Website. Compensation may influence which products and brokers we review and write about, and whether products appear on our Website. The Website does not purport to feature every online broker or financial product available on the market.
In the event that Investopedia makes available study guides and other exam preparation information, including study guides and/or links to such materials on third party sites (collectively the “Exam Prep”), the below applies in addition to the rest of the terms of these TOU. You understand and agree to receiving communications from Investopedia, including as set forth in the “Communications” section of this TOU. Investopedia reserves the right at any time and for any reason and without notice to you, to change, modify, suspend, or cancel access to and/or any and all of the Exam Prep material.
All Exam Prep material and information available on Investopedia or third party sites linked-to through Investopedia are for informational purposes only. Exam content review, methods of study, tips and sample questions are only recommendations, and use of this material does not guarantee passing any exam. While Investopedia has made reasonable efforts to provide current and accurate information, Investopedia will not be held liable for any unintentional errors or omissions that may be found. Investopedia is not affiliated, approved, or endorsed by FINRA, the NFA, NAASA, the CFA Institute, CMT Association, GARP, IIROC or the IRA.
Investopedia does not guarantee that files available for downloading through its Site will be free of infection or viruses or other code that may have contaminating or destructive properties. You are responsible for implementing sufficient procedures and checkpoints to satisfy your particular requirements for integrity, security and accuracy of data input and output, and for maintaining a means external to the Site for the reconstruction of any lost data.
Though we seek to partner with quality companies, we are not responsible for the claims or representations made by advertisers and sponsors. Investopedia does not review, endorse or recommend the products or services of any company mentioned on our Site. We will not be liable in any way for damages of any kind resulting out of the misuse of any personal information or data submitted by you to an advertiser or sponsor.
As a convenience to Users, the Site and Services may provide links to other sites or resources. Because we do not review and have no control over such sites and resources, Investopedia shall not be responsible or liable for use of or reliance on any content, products, services or information at such sites or resources. Inclusion of any links does not imply any endorsement, affiliation, approval, association or sponsorship by Investopedia of the linked websites, resources, their operators or owners. When you select a link, you may be leaving our Site. The information available on third parties websites may have certain restrictions on its use or distribution which differ from this TOU.
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When you visit our Site, use any of our Services, or send us an email, you expressly indicate your consent to electronically receive any and all communications, notices, and our disclosures that we may provide in connection with your use of the Site and/or Services, including, without limitation, e-mail, in-app, and in-website chat communications. All agreements, notices and communications that we provide to you by email will satisfy all legal requirements that they be in writing and delivered to you. Investopedia will have the right to disclose any email sent by a User, or any objectionable material, to comply with legal process or to protect the rights or property of Investopedia, its customers, suppliers and Users. Any such notices may also include emails with promotional, marketing, and advertising information and recommendations that we believe may be of interest to you, in accordance with applicable law. Consistent with federal CAN-SPAM or anti-spam laws, if you do not wish to receive commercial emails, you may unsubscribe following the instructions on any email, excepting that we may still send you administrative and transactional notices, including, without limitation, information about your Account, confirmation of your registration for Courses, information about your progress, or other services that may be necessary to provide you with any one of the Services.
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This TOU, and any applicable TOS, constitute the entire agreement between each User and Investopedia governing the User's access to and use of the Site and its Services, and supersede all prior agreements regarding its subject matter. The TOU shall be governed by the laws of the State of New York without giving effect to any principles of conflicts of laws. Each User hereby attorns and agrees to the non-exclusive jurisdiction of the courts of the New York, New York.
The failure by a User or Investopedia to exercise any right or to enforce any provision of this TOU shall not constitute a waiver of such right or provision. If any provision of this TOU is found by a court of competent jurisdiction to be invalid or unenforceable, the court shall give effect to the intentions reflected in the provision to the degree possible, and the other provisions of this TOU will remain in full force and effect.
The parties have agreed that this contract and all related documents be drafted in English. Les parties aux présentes ont demandé et convenu que le présent contrat et tout document y afférent soient rédigés en anglais.
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