Risk notice
Regulatory & Risk Disclosures
These disclosures explain the limits of Virgil Paper software, AI outputs, third-party data, broker integrations, hypothetical results, and self-directed trading.
Risk notice
These disclosures explain the limits of Virgil Paper software, AI outputs, third-party data, broker integrations, hypothetical results, and self-directed trading.
Last updated: Wednesday, August 12, 2026
These disclosures are incorporated into the Virgil Paper Terms and Conditions and apply to https://paper.virgilx.io/, the application environment at /app, APIs, subscriptions, analytics, AI outputs, alerts, broker integrations, and related services. Questions may be sent to support@ruggedx.ai.
Virgil Paper IS A SOFTWARE AND MARKET-RESEARCH PLATFORM. Virgil Paper IS NOT A BROKER-DEALER, REGISTERED INVESTMENT ADVISER, COMMODITY TRADING ADVISER, FINANCIAL PLANNER, TAX ADVISER, LAW FIRM, EXCHANGE, CUSTODIAN, OR FIDUCIARY.
No feature, model, alert, thesis, score, ranking, chart, watchlist, strategy, prompt, response, notification, data point, or interface element is individualized financial, legal, tax, accounting, brokerage, investment, or trading advice. Nothing in the Services is an offer, solicitation, endorsement, instruction, or recommendation to buy, sell, hold, short, hedge, or trade any security, option, futures contract, foreign exchange instrument, cryptocurrency, prediction market contract, commodity interest, or other financial product.
You are solely responsible for your research, suitability analysis, strategy design, risk controls, account settings, order review, tax consequences, and financial decisions. You should consult qualified professionals before making investment, trading, legal, accounting, or tax decisions. You agree not to rely on the Services as the sole basis for any financial decision.
Trading and investing are inherently risky. You may lose some or all of your capital, including more than your initial deposit when using margin, options, short selling, leveraged products, futures, forex, or similar instruments.
The Services may be unavailable, delayed, incomplete, inaccurate, interrupted, or affected by software defects, model defects, market disruptions, exchange halts, brokerage restrictions, third-party outages, rate limits, stale data, calculation errors, security events, maintenance, or network failures. Virgil Paper does not guarantee profit, return, execution quality, signal accuracy, model accuracy, risk reduction, or portfolio performance.
TO THE FULLEST EXTENT PERMITTED BY LAW, Virgil Paper AND ITS OWNERS, OFFICERS, DIRECTORS, EMPLOYEES, CONTRACTORS, AFFILIATES, LICENSORS, DATA PROVIDERS, AND SERVICE PROVIDERS WILL NOT BE LIABLE FOR TRADING LOSSES, MARKET LOSSES, LOST PROFITS, LOST REVENUE, LOST DATA, LOST OPPORTUNITIES, BUSINESS INTERRUPTION, REPUTATIONAL HARM, CONSEQUENTIAL DAMAGES, INCIDENTAL DAMAGES, SPECIAL DAMAGES, EXEMPLARY DAMAGES, PUNITIVE DAMAGES, OR DAMAGES ARISING FROM USE OF OR RELIANCE ON THE SERVICES.
If liability cannot be excluded, Virgil Paper's total aggregate liability for all claims relating to the Services will not exceed the lesser of (a) amounts you paid to Virgil Paper for the Services in the twelve (12) months before the event giving rise to the claim, or (b) USD $100.
The Services may use large language models, machine learning systems, statistical models, ranking systems, scoring formulas, rules engines, and third-party AI infrastructure. These systems may produce hallucinations, false statements, stale conclusions, incomplete analysis, incorrect citations, invalid calculations, unsuitable outputs, or misleading confidence levels.
Scores, conviction labels, "buy", "sell", "hold", "exit", "breakout", "momentum", "beneficiary", "risk", "impact", "confidence", "thesis", or similar labels are software classifications and analytical shorthand only. They are not personalized recommendations, trading instructions, or guarantees.
AI outputs, model behavior, prompts, scoring structures, workflow logic, and interface responses are part of the protected Virgil Paper platform. You may not use them to train, fine-tune, distill, benchmark, validate, reverse engineer, replicate, or build a competing product or service without written permission.
Update
Notice
This AI and Signal Disclosure was last updated on:
Wednesday, August 12, 2026.
Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Since trades have not been executed, results may have under- or over-compensated for the impact, if any, of market factors such as lack of liquidity. Simulated trading programs are also generally designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
Portfolio tracking, thesis PnL, baseline capture, backtests, strategy simulations, scenario models, projected returns, win/loss estimates, rankings, watchlists, and paper-trading views are informational software displays. They may omit commissions, spreads, slippage, taxes, borrowing costs, margin interest, short locate fees, liquidity constraints, rejected orders, partial fills, regulatory restrictions, and other real-world factors.
Past performance, historical analysis, backtested results, simulated returns, paper results, and examples are not reliable indicators of future performance. Market regimes change. Strategies that appeared successful in one period can fail immediately, permanently, or catastrophically in another.
Any performance or risk display may depend on user settings, imported data, brokerage data, symbol mapping, timestamps, currencies, corporate actions, and calculation assumptions. You are responsible for verifying those assumptions before making decisions.
Update
Notice
This Performance Disclosure was last updated on:
Wednesday, August 12, 2026.
WARNING: ACTIVE TRADING, INTRADAY TRADING, SHORT SELLING, OPTIONS, FOREX, CRYPTO, FUTURES, PREDICTION MARKETS, AND LEVERAGED POSITIONS CARRY A HIGH RISK OF RAPID AND SUBSTANTIAL LOSS.
Intraday and margin activity is governed by your brokerage agreement, exchange rules, clearing requirements, regulatory rules, account type, product permissions, and real-time risk controls. Brokers may impose equity requirements, margin calls, liquidation rights, order restrictions, concentration limits, good-faith violation rules, unsettled-cash restrictions, or day-trading controls. You must consult your broker for rules that apply to your account before trading.
Options can expire worthless and complex options strategies can create nonlinear losses. Short selling can create theoretically unlimited losses. Crypto, forex, futures, and prediction markets may trade continuously, gap sharply, lack investor protections available in securities markets, or be restricted by jurisdiction. Leveraged products can magnify losses quickly.
Update
Notice
This Trading and Margin Disclosure was last updated on:
Wednesday, August 12, 2026.
Virgil Paper may depend on brokerages, exchanges, data vendors, cloud providers, payment processors, identity providers, analytics tools, email services, SMS/push providers, AI providers, and other third parties. Third-party services are governed by their own agreements, policies, schedules, limitations, and fees.
Market data may be delayed, stale, corrected, restated, unavailable, misformatted, incomplete, mapped to the wrong symbol, adjusted for corporate actions, or subject to vendor restrictions. You must verify market data through official brokerage, exchange, issuer, or regulatory sources before trading.
Broker APIs may reject orders, throttle requests, disconnect accounts, change permissions, delay updates, report stale account values, impose product restrictions, liquidate positions, or modify margin requirements. Virgil Paper is not responsible for broker actions, data vendor actions, third-party outages, order execution, account losses, rejected trades, fees, or regulatory restrictions.
You are responsible for granting, reviewing, limiting, and revoking third-party permissions and API credentials. You should use least-privilege permissions whenever possible and should never connect capital, accounts, or permissions you are not prepared to monitor directly.
Update
Notice
This Third-Party Data and Broker Disclosure was last updated
on: Wednesday, August 12, 2026.
Review investor education materials from the U.S. Securities and Exchange Commission, FINRA, and CFTC.
Virgil Paper is not an emergency alert system, trade desk, brokerage supervision service, risk manager, or real-time monitoring service. You are responsible for monitoring your accounts, orders, open positions, margin status, broker notices, and market conditions directly.
Update Notice
This Investor Guidance Disclosure was last updated on:
Wednesday, August 12, 2026.
Material changes to these disclosures will be posted on this page.
Virgil Paper and certain product names used herein are trademarks or registered trademarks of Rugged I/O LLC and/or one of its subsidiaries or affiliates in United States. See Trademarks or appropriate markings.