Version 2026-09-10.
Effective date: 2026-09-10
These Terms of Service ("Terms") are an agreement between you and Marchie Enterprises LLC, doing business as Disclosed ("Disclosed", "we", "us"), a California limited liability company. They govern your use of disclosedhq.com, the Disclosed mobile apps, and everything we offer through them (together, the "Service"). You accept these Terms by checking the box when you create an account, which we record. If you don't agree, don't use the Service. These Terms contain an arbitration agreement and class-action waiver in Section 13 and a 30-day opt-out.
1. What Disclosed is
Disclosed collects public financial disclosures (congressional and executive-branch stock disclosures, SEC filings, and fund holdings reports), combines them with market data, and presents them so you can see what public figures have disclosed. Depending on the features enabled, you may also see model baskets built from those disclosures and, where available, place orders in your own brokerage account that follow them. We do not manage money, hold your assets, or trade for you. Everything on the Service is produced the same way for everyone and is not tailored to your circumstances. Please read the Risk Disclosure, which is part of these Terms. Whether to place any order is your decision alone.
2. Eligibility and accounts
You must be at least 18 years old, a resident of the United States, and able to form a binding contract. The Service is not offered to residents of other countries. You are responsible for keeping your sign-in link and email account secure and for everything done through your account. Tell us at once at invest@disclosedhq.com if you believe your account has been used without permission.
3. Subscriptions, billing, and cancellation
Browsing the Service is free. Some features require a paid subscription of $9.99 per month (plus any applicable taxes), billed in advance. On the website, billing is handled by our payment processor, Stripe. In the iPhone app, the subscription is bought through Apple's in-app purchase and billed to your Apple ID under Apple's terms. In either case we do not see or store your card number.
Automatic renewal. Your subscription renews automatically each month at the then-current price until you cancel. The renewal terms are shown next to the consent box at checkout, and you must separately agree to them there before paying. After you subscribe we email you a confirmation that repeats the price, the renewal terms, and how to cancel. If you subscribe in the iPhone app, Apple shows the renewal terms before you confirm the purchase and charges your Apple ID each month; you can review or turn off renewal at any time in your Apple ID subscription settings.
Cancellation. You can cancel at any time from your Account page, which takes you to a cancel button in one step, and the cancellation takes effect immediately for renewal purposes: you keep access until the end of the period you already paid for and are not charged again. You may also email invest@disclosedhq.com and we will cancel for you within one business day. We will notify you by email before any price change takes effect, and you may cancel before the change applies. Fees for the current billing period remain owed after cancellation or termination. If you subscribed through the App Store, cancel in your Apple ID subscription settings (Settings, your name, Subscriptions). We cannot cancel or refund an App Store subscription on your behalf; Apple's refund policy applies to those charges, and you keep access until the end of the period Apple has billed.
Refunds. Because access is delivered immediately, payments are non-refundable except where the law requires otherwise or where we decide, in our discretion, to refund a charge.
Free trials or promotions, if we offer any, convert to a paid subscription at the end of the trial unless you cancel first; we will say so clearly, next to the consent box, when you start one.
4. Brokerage connections and orders
If you connect a brokerage account, you do so through SnapTrade, a third-party service that holds your brokerage credentials and places orders on your instruction. Your use of SnapTrade is subject to SnapTrade's own terms and privacy policy, and your brokerage account remains governed by your agreement with your brokerage. We never hold your money or securities and we never see your brokerage password.
Where order placement is available, the Service shows you each proposed order as priced by your brokerage. No order is placed unless you review it and confirm it. After you confirm, the order is sent to your brokerage, which decides whether and how to execute it. Orders can be delayed, partially filled, rejected, or executed at prices different from the preview. We are not responsible for your brokerage's actions, outages, fees, or execution.
You are responsible for making sure you have the cash, margin, and account permissions your brokerage requires, for the tax consequences of your trades, and for complying with any trading restrictions that apply to you.
5. If your account closes or the Service ends
If you cancel, we close your account, or we discontinue the Service: proposals and notifications stop; any positions in your brokerage account remain yours and remain there; you are responsible for managing them from then on, including deciding whether to keep or sell them; and we encourage you to review them with a financial professional. We will give at least 30 days' notice by email before discontinuing the Service, except where the law or a third party prevents it.
6. Accuracy of information
Disclosures are filed by the people who make them, often weeks after the trade, sometimes with errors, and sometimes amended. Amounts are disclosed as ranges; every figure we mark "estimated", "~", "up to", or "on paper" is calculated from the top of the disclosed range and market prices, by the fixed method described in the Risk Disclosure, and is not a statement of what anyone actually earned. Market data may be delayed or wrong. "What if you had mirrored" figures are hypothetical, assume trades at the close of the day a disclosure was filed, ignore taxes, and are not a promise of anything. We work to be accurate but we do not warrant that any information on the Service is complete, current, or error-free.
7. No affiliation
Disclosed is not affiliated with, sponsored by, or endorsed by any politician, government body, fund, investor, or company shown on the Service. Names and images identify the people whose public filings we report and are not an endorsement of Disclosed.
8. Acceptable use
You agree not to: use the Service to break any law; scrape, copy, or resell the Service or its data in bulk; interfere with the Service or try to get around access limits; use another person's account; or use the Service to make investment decisions for anyone other than yourself without the licenses that requires.
9. Our rights, your feedback
The Service, its design, software, and the compilations we produce are owned by Disclosed or our licensors. Government filings are public records; our presentation, estimates, and commentary are ours. We grant you a personal, non-transferable license to use the Service for your own, non-commercial purposes while you comply with these Terms. Images of public officials are official government portraits or Creative Commons works credited where they appear. If you send us ideas or feedback, you grant us a perpetual, royalty-free license to use them without obligation to you.
10. Notifications and electronic delivery
If you turn on email or push notifications, we will send you alerts about disclosures by people you follow or mirror and about your account. You can turn them off in your account settings or by the link in any email. Notifications are informational and are not a recommendation to trade.
You consent to receive all notices, disclosures, and agreements from us electronically, by email to the address on your account or by posting on the Service, and you agree that electronic delivery satisfies any legal requirement that such communications be in writing. You may withdraw this consent by closing your account. Keep your email address current; a notice is deemed received when we send it to the address on file.
11. Termination
You can close your account at any time at disclosedhq.com/account/delete, in the app (More, then Delete my account), or by emailing invest@disclosedhq.com. We may suspend or close accounts that violate these Terms, put the Service or other users at risk, or that we are required to close by law. Sections 1, 3 (as to fees owed), 5, 6, 7, 9, 10, 12, 13, 14, 15, 17, and 18 survive termination.
12. Disclaimers, limitation of liability, and indemnity
Disclaimers. THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE." TO THE FULLEST EXTENT PERMITTED BY LAW, WE DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. WE DO NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, OR THAT ANY TRADE WILL BE PROFITABLE. INVESTING INVOLVES RISK, INCLUDING THE LOSS OF PRINCIPAL.
Limitation of liability. TO THE FULLEST EXTENT PERMITTED BY LAW, DISCLOSED AND ITS MEMBERS, OFFICERS, EMPLOYEES, AND CONTRACTORS WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR FOR ANY LOSS OF PROFITS, TRADING LOSSES, OR LOSS OF DATA, ARISING FROM OR RELATED TO THE SERVICE, EVEN IF WE WERE ADVISED OF THE POSSIBILITY. OUR TOTAL LIABILITY FOR ALL CLAIMS RELATING TO THE SERVICE WILL NOT EXCEED THE AMOUNT YOU PAID US IN THE TWELVE MONTHS BEFORE THE CLAIM, OR ONE HUNDRED DOLLARS ($100), WHICHEVER IS GREATER. These limits do not apply to liability for our gross negligence, willful misconduct, or fraud, to any liability that cannot be limited under applicable law, or to any right you have under the federal or state securities laws, which cannot be waived. Some jurisdictions do not allow some of these limits; in those places the limits apply to the extent permitted.
Indemnity. You will defend and indemnify Disclosed against claims brought by a third party, and the resulting losses and expenses (including reasonable attorneys' fees), to the extent they arise from your violation of these Terms, your violation of law, or your use of the Service in a way these Terms do not permit. This does not apply to claims you bring against us or to losses caused by our own breach, negligence, or misconduct.
13. Dispute resolution and arbitration
Please read this section carefully; it affects your rights.
Informal resolution first. Before filing a claim, you agree to email invest@disclosedhq.com with a description of the dispute, and we agree to try to resolve it with you within 60 days.
Arbitration. Any dispute not resolved informally will be settled by binding individual arbitration administered by the American Arbitration Association ("AAA") under its Consumer Arbitration Rules and, where applicable, its Mass Arbitration Supplementary Rules, in effect at the time the claim is filed. The arbitration will take place in Los Angeles County, California, or by video conference, at your choice. Either party may instead bring an individual claim in small-claims court. The Federal Arbitration Act governs this section.
Fees. Under the AAA Consumer Arbitration Rules, your filing fee is capped at the amount the rules set for consumers, and we pay all other AAA and arbitrator fees.
No class actions. You and Disclosed agree to bring claims only in an individual capacity, not as a plaintiff or class member in any class, consolidated, or representative proceeding, and the arbitrator may not consolidate more than one person's claims or preside over any form of representative proceeding.
Public injunctive relief. Nothing in this section waives either party's right to seek public injunctive relief where the law provides for it. If a claim for public injunctive relief is brought, that claim will be decided by a court after the arbitrator has decided all other claims, and the rest of this section still applies to those other claims.
If the class waiver fails. If a court or arbitrator decides that the class-action waiver above is unenforceable as to a particular claim, then this arbitration agreement is void as to that claim, and that claim will be decided in court, not in class arbitration. The rest of this section continues to apply to all other claims.
Opt-out. You may opt out of this arbitration agreement by emailing invest@disclosedhq.com with the subject "Arbitration opt-out" within 30 days of first accepting these Terms. If you opt out, disputes will be resolved in the state or federal courts located in Los Angeles County, California, and you consent to their jurisdiction.
Changes to this section. If we change this Section 13, the change does not apply to any dispute that arose, or any claim that accrued, before the change took effect.
14. Governing law
These Terms are governed by the laws of the State of California, without regard to its conflict-of-laws rules, and by applicable federal law.
15. Changes to these Terms
We may update these Terms. Non-material changes take effect when posted with a new version date. For material changes, including any change to price, to Section 13, or to what the Service does with your brokerage account, we will email you at least 14 days before the change takes effect and ask you to accept the new Terms the next time you sign in; if you do not accept, you may keep using the Service under the old Terms until the end of your current billing period, after which the new Terms apply to any continued use. We keep an archive of every version of these Terms.
16. Force majeure
Neither party is liable for a failure or delay caused by events beyond its reasonable control, including outages at brokerages, exchanges, or third-party services, government action, and market halts. This does not excuse your obligation to pay fees already owed.
17. Notices
We give notice by email to the address on your account or by posting on the Service, and it is deemed received when sent or posted. You give notice by email to invest@disclosedhq.com, or by mail to the address below, and it is deemed received when we actually receive it.
18. Miscellaneous
These Terms, the Privacy Policy, and the Risk Disclosure are the whole agreement between you and Disclosed about the Service. If any part is unenforceable, the rest remains in effect (subject to Section 13's rule on the class waiver). You may not assign these Terms; we may assign them in connection with a merger, acquisition, or sale of assets. Our failure to enforce a provision is not a waiver.
19. Contact
Marchie Enterprises LLC d/b/a Disclosed 6369 W June Pl, Los Angeles, CA 90038 invest@disclosedhq.com