TERMS OF USE
Terms of Use
使用条款Effective: September 11, 2026 · 生效日期：2026年9月7日1. Service scope / 服务范围
Real Stock Sim (the “Service”) is an invitation-only application for evaluating U.S. stock strategies with market data and simulated trading. An administrator-only feature may also display information from, and submit specifically confirmed manual limit orders to, the administrator’s Charles Schwab live account. The Service is experimental and may be changed, interrupted, or discontinued.
Real Stock Sim（以下简称“本服务”）是一个邀请制应用，用于结合市场数据测试美股交易策略和模拟交易。另有一项仅管理员可见的功能，可以显示管理员本人的 Charles Schwab 真实账户信息，并提交由管理员逐笔明确确认的真实手动限价单。本服务处于测试阶段，功能可能调整、中断或停止。
2. Eligibility and accounts / 资格与账户
You must use accurate registration information, protect your password, complete email verification, hold a valid invitation, and receive administrator approval. Membership is personal and may not be transferred or shared. You must satisfy the applicable eligibility and account requirements before connecting an Alpaca or Charles Schwab account.
您必须提供真实注册信息、妥善保护密码、完成邮箱验证、持有有效推荐链接并获得管理员批准。会员资格仅限本人使用，不得转让或共享。连接 Alpaca 或 Charles Schwab 前，您还必须符合相应服务商的账户资格要求。
3. Paper Trading and live-account boundary / 模拟交易与真实账户边界
Automated strategy execution remains limited to Alpaca Paper Trading. Paper orders, balances, positions, profits, and losses are simulated and do not move real money or securities. The administrator may separately unlock Schwab manual trading and submit a confirmed live limit order or cancellation request. Switching the displayed account does not start or stop automation, and orders are never rerouted between brokers.
自动策略执行仍仅限 Alpaca Paper Trading。模拟订单、余额、持仓和盈亏不会转移真实资金或证券。管理员可以单独解锁 Schwab 手动交易，并提交逐笔确认的真实限价单或撤单请求。切换当前显示账户不会启动或停止自动策略，订单也不会在券商之间改道。
4. Alpaca authorization / Alpaca 授权
If you choose to connect Alpaca, you authorize Real Stock Sim through Alpaca OAuth to access the selected Paper account, read account and trading information, and place or cancel simulated orders according to actions and settings available in the Service. Each website identity must use its own eligible Paper account. You may revoke the connection from the Service or Alpaca.
如果您选择连接 Alpaca，即表示您通过 Alpaca OAuth 授权 Real Stock Sim 访问所选择的 Paper 模拟账户，读取账户及交易信息，并依照您在本服务中的操作和设置提交或取消模拟订单。每个网站身份必须使用各自独立且符合要求的 Paper 账户。您可以通过本服务或 Alpaca 撤销授权。
5. Schwab live authorization / Schwab 真实账户授权
The administrator may authorize Real Stock Sim through Charles Schwab OAuth to read live-account balances, buying power, positions, and order history. After a separate session-level unlock and final per-order confirmation, the Service may submit regular-session day limit orders for equities or ETFs and cancellation requests for unfilled orders. Schwab automation, options, short sales, complex orders, extended-hours orders, and automatic replacement are not enabled. Fractional quantities are submitted as entered and are never silently rounded; Charles Schwab may reject unsupported quantities or orders.
管理员可以通过 Charles Schwab OAuth 授权 Real Stock Sim 读取真实账户的余额、购买力、持仓和订单记录。在另行完成会话级解锁及每笔最终确认后，本服务可以提交普通交易时段、当日有效的股票或 ETF 限价单，并请求撤销未成交订单。Schwab 自动交易、期权、卖空、复杂订单、盘前盘后订单和自动改单均未开放。碎股数量会按输入值提交且绝不会被静默取整；Charles Schwab 可能拒绝不支持的数量或订单。
6. No investment advice / 不构成投资建议
Real Stock Sim is a software testing and educational tool. It is not a broker, investment adviser, fiduciary, exchange, or custodian. Charts, classifications, signals, examples, and automated results are informational simulations, not investment, legal, tax, or financial advice.
Real Stock Sim 是软件测试和学习工具，不是券商、投资顾问、受托人、交易所或托管机构。图表、分类、信号、案例和自动化结果仅为信息与模拟，不构成投资、法律、税务或财务建议。
7. Data and availability / 数据与可用性
Market data and account information may be delayed, incomplete, unavailable, or incorrect. The Service does not guarantee uninterrupted operation, live or simulated order acceptance, cancellation, execution price, fills, strategy performance, or the accuracy of third-party information. If an upstream response is uncertain, the Service does not automatically retry a live order; the administrator must verify status with Charles Schwab.
市场数据和账户信息可能延迟、不完整、暂时不可用或存在错误。本服务不保证持续运行、真实或模拟订单一定被接受、撤单成功、成交价格、成交结果、策略表现，或第三方信息始终准确。若上游返回状态不明确，本服务不会自动重试真实订单；管理员必须通过 Charles Schwab 核对状态。
8. Acceptable use / 合理使用
You may not bypass access controls, probe protected strategies or teaching materials, interfere with the Service, use another person’s account, submit unlawful content, or use the Service in violation of Alpaca or other provider terms. Access may be paused or terminated to protect users, providers, or the Service.
您不得绕过访问控制、探查受保护的策略或教学资料、干扰系统、使用他人账户、提交违法内容，或违反 Alpaca 及其他服务商的条款。为保护用户、服务商或本服务，管理员可以暂停或终止会员权限。
9. Intellectual property / 知识产权
The Service design, software, strategy terminology, non-public algorithms, teaching materials, and original content remain the property of their respective owner. Membership does not grant permission to copy, reverse engineer, redistribute, publish, or commercially exploit protected materials.
本服务的设计、软件、策略术语、非公开算法、教学资料和原创内容仍归其权利人所有。会员资格不代表获得复制、逆向分析、再分发、公开发布或商业利用受保护内容的许可。
10. Disclaimer and responsibility / 免责声明与责任
The Service is provided “as is” and “as available” to the extent permitted by law. You remain responsible for account selection, settings, every confirmed live order, and use of simulated results. Real Stock Sim is not responsible for trading losses, rejected or delayed orders, failed cancellations, reliance on simulations, third-party outages, unauthorized account use, or circumstances outside its reasonable control.
在法律允许的范围内，本服务按“现状”和“可用状态”提供。您应对账户选择、设置、每笔确认的真实订单以及对模拟结果的使用负责。因交易损失、订单被拒绝或延迟、撤单失败、依赖模拟结果、第三方服务中断、账户被未经授权使用或超出合理控制范围的情况所产生的损失，Real Stock Sim 不承担责任。
11. Changes and contact / 条款变更与联系
These terms may be updated as the Service changes. Material updates will be posted on this page with a revised effective date. Questions or account requests may be directed to the administrator through the communication channel used to provide your invitation.
本条款可能随服务调整而更新。重大变更会在本页公布并更新生效日期。如有问题或账户请求，请通过收到推荐邀请时使用的沟通渠道联系管理员。