Terms of Service

1. Acceptance of Terms

By accessing or using midaris.ai (the “Service”) you confirm that you have read, understood and agree to these Terms of Service (“Terms”) and to our Privacy Policy and Refund Policy. If you do not agree, do not use the Service.

The Service is provided by NFOURA SAAS PLATFORM DEVELOPMENT - FZCO, holder of IFZA Dubai license #79424 (“Midaris”, “we”, “us”).

2. Description of Service

Midaris is software for financial research and education. It produces AI-generated research reports, structured analysis, conversational chat and related research tooling that compile and organize publicly available market data, news, fundamentals, technical indicators, ETF holdings and flows, commodities data and macro/geopolitical context.

All Midaris content is provided for informational and educational purposes only. Midaris does not provide investment, legal, tax, accounting or other professional advice; does not provide trading signals, trading strategies, price targets or portfolio advice; does not manage assets or execute orders; and does not provide brokerage, custody or money-transmission services. Midaris is not a registered investment adviser, broker-dealer or regulated financial services provider in any jurisdiction, and no content on the Service should be construed as a personal recommendation or as an assessment of whether any asset is suitable for you.

• Outputs are generated by AI models and may contain errors, omissions or hallucinations.
• Past performance of any asset, indicator or strategy does not guarantee future results.
• Investing involves risk, including the possible loss of principal. You may lose some or all of the money you invest.
• Midaris does not know your financial situation, objectives, tax position or risk tolerance, and nothing it produces is tailored to them.
• You are solely responsible for any investment, trading or financial decision you make. We strongly encourage you to do your own research and to consult an independent licensed professional about your own circumstances before acting on any analysis.
• Nothing on Midaris constitutes an offer, solicitation, endorsement or recommendation to acquire or dispose of any security or other financial instrument.
• Scores, bands, gauges and confidence figures are descriptive summaries of the underlying data. They are not ratings, forecasts, or instructions, and they do not predict future prices or performance.

3. AI-generated content

Reports, summaries and chat answers are generated by AI from public and licensed market data; they may contain errors and are research and education, not investment advice.

Reports, chat answers, summaries, section narratives and any other prose the Service produces are written by AI language models from the data described on our Data Sources page. Numerical scores and their components are computed deterministically in code and are shown next to their inputs; the models do not set them.

The Technical report also reads rendered chart images with an AI vision model, which can misread them; computed indicator values are shown where available.

The data sources and providers behind Midaris, and the processors that handle personal data, are listed on our Data Sources and Privacy pages.

AI output can be incomplete, out of date, or simply wrong, including in ways that read as confident. You should verify every figure against primary sources before relying on it. Nothing produced by these models is reviewed by a licensed professional before it reaches you, and no part of it is a personal recommendation.

4. Accounts and Registration

To use most features you must register an account using an accurate email address. You are responsible for maintaining the confidentiality of your credentials and for all activity that occurs under your account. Notify us immediately at legal@midaris.ai if you suspect unauthorized access.

You must be at least 18 years old to use the Service.

5. Subscriptions and Billing

Midaris offers paid subscription plans (Starter, Professional, Advisor), one-time single reports, one-time credit purchases (“Boost Packs”), and, for firms, additional analyst and viewer seats and an optional firm layer sold as recurring subscriptions. Pricing is published on the pricing page and may be updated from time to time; changes affect future billing periods only.

• Payments are processed by our payment provider, which acts as the merchant of record and is identified at checkout. The provider handles checkout, tax collection where applicable and remittance.
• Subscriptions renew automatically at the end of each billing period unless cancelled before the renewal date, either in your account settings or through the payment provider’s own portal, using the link on the receipt it sent you.
• Cancelling stops future renewals; you retain access until the end of the current paid period. We do not provide pro-rated refunds for partial months except as required by law or as stated in our Refund Policy.
• You authorize our payment provider to charge your payment method for the applicable subscription fee, taxes and any Boost Pack purchases you make.

5.1 Launch offer

Before billing opens you may join our launch waitlist. When billing opens we will email each person on that list a discount code for 30% off the first 3 billing cycles of a monthly subscription plan. The discount applies to those 3 cycles only; the subscription continues uninterrupted afterwards and is billed at the published price from cycle 4. It does not cancel or shorten the subscription.

• monthly plans only.
• one per account.
• code emailed the day billing opens.
• valid 30 days.
• not combinable with annual pricing.
• The code is issued per waitlist entry and is not transferable. We may withdraw or change this offer for anyone not yet on the list at the time of the change; a code already issued is honoured for the 30 days it is valid.

6. Credits

Each subscription plan includes a monthly allotment of credits used to run analyses. Boost Packs add additional credits on a one-time basis. Credit costs per agent are published in-app and may be adjusted with reasonable notice.

• Monthly subscription credits do not roll over; unused credits expire at the end of each billing cycle.
• Boost Pack credits do not expire while your account remains active.
• Credits have no cash value, cannot be transferred between accounts and cannot be redeemed for cash.
• Failed or empty analyses caused by an upstream provider outage will, where reasonable, be re-credited.
• A single report is an entitlement to one run of one report type, valid for seven days from purchase. It is not a credit balance: it is consumed by the run, whatever that report type would otherwise cost.
• A single report covers only the report types listed for it at checkout. Running a type it does not cover is refused before anything is charged.

7. Firm accounts, seats and the firm layer

An account on a plan that allows it can create a firm and invite other people to it. Each member occupies a seat that the firm pays for: an analyst seat carries its own credit allowance and can run every report type the firm’s plan includes, and a viewer seat is read-only — it can read the reports the firm shares, the market pages and a watchlist, and it cannot run anything or hold credits.

Seats are billed to the firm’s owner as a recurring subscription and are counted per billing period. Removing a member frees their seat for the rest of the period; it does not create a refund. A member who leaves, or whose seat is removed, keeps no access to the firm’s reports.

The optional firm layer lets a firm put its own disclaimer, colours, logo, domain and sending address on the reports it produces and shares. It does not change what a report says, and it never removes the AI disclosure or the data notice from any report, export or shared link — those are part of every document Midaris produces and cannot be turned off by anyone. A firm that uses the firm layer is responsible for the content of its own disclaimer and for its own regulatory position; Midaris remains software for research and education and does not become the author of the firm’s advice.

8. Acceptable Use

You agree not to, and not to permit any third party to:

• Scrape, crawl, mirror or systematically extract content from the Service;
• Resell, sublicense or otherwise commercially redistribute Midaris outputs without written permission;
• Reverse engineer, decompile or attempt to derive the source code, model weights or training data of any underlying system;
• Use the Service to generate market manipulation, spam, harassment or any illegal content;
• Circumvent rate limits, credit accounting or any access control;
• Share your account credentials, or use a single seat for multiple end users.

9. Intellectual Property

All Midaris software, branding, copy, design, agent prompts and aggregated outputs are owned by NFOURA SAAS PLATFORM DEVELOPMENT - FZCO or its licensors. You are granted a limited, revocable, non-exclusive, non-transferable licence to use the Service for your internal personal or business research.

Content you submit (queries, tickers, chat messages) remains yours. You grant us a worldwide licence to process that content as required to deliver the Service and, in aggregated and anonymized form, to monitor, secure and improve it.

10. Service Availability

We aim for high availability but do not guarantee uninterrupted operation. We may modify, suspend or discontinue any feature, with or without notice. Scheduled maintenance, third-party outages (AI model providers, market data vendors, payment processors) and force-majeure events may affect availability.

11. Limitation of Liability

To the maximum extent permitted by law, Midaris and its officers, directors, employees and affiliates shall not be liable for any indirect, incidental, special, consequential or punitive damages, including lost revenue, lost anticipated economic benefit, investment or trading losses, lost data or business interruption, arising from your use of the Service, whether in contract, tort or otherwise.

Our aggregate liability for any claim arising out of or relating to the Service shall not exceed the greater of (a) the amount you paid us in the three months preceding the event giving rise to the claim or (b) USD 100.

The Service is provided on an “as is” and “as available” basis without warranties of any kind, express or implied.

12. Indemnification

You agree to defend, indemnify and hold harmless Midaris from and against any claims, damages, losses or expenses (including reasonable legal fees) arising from your breach of these Terms, your misuse of the Service or your violation of any applicable law or third-party right.

13. Termination

You may close your account at any time from Account → Danger zone. The request is held for 7 days before anything is deleted, and signing in again — or cancelling on that page — stops it. After that your profile, reports, portfolios and chat history are deleted; billing records are kept without your name attached, for the accounting period the law requires. We may suspend or terminate your access, without notice, if you breach these Terms, if we are required to do so by law, or to protect the security or integrity of the Service. Sections that by their nature should survive termination (IP, liability, indemnification, governing law) shall do so.

14. Governing Law and Disputes

These Terms are governed by the laws of the United Arab Emirates. Any dispute arising out of or in connection with these Terms or your use of the Service shall be subject to the exclusive jurisdiction of the DIFC Courts, Dubai, United Arab Emirates.

15. Changes to the Terms

We may update these Terms from time to time. Material changes will be communicated by email or in-app notice at least 14 days before they take effect. Continued use of the Service after the effective date constitutes acceptance of the revised Terms.

16. Contact

Questions about these Terms can be sent to legal@midaris.ai.