Investopedia Terms of Use

Welcome to this website operated by Investopedia, LLC. By visiting and using this website you will be accepting these Terms of Use ("TOU"). Please read them carefully and if you disagree with the TOU in any way, then do not use this website. Investopedia reserves the right to post changes to the TOU on this website at any time, and by your continuing to use the website thereafter, you agree to be bound by the new version of the TOU. If any TOU changes are not acceptable, you must stop your use of this website. In these TOU, "Investopedia" and "we" refer to Investopedia, LLC., and "User" or "you" refer to each visitor to this website.

If you subscribe to any services offered through this website, you also will 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.

Sites and Services
We do not guarantee that access to or use of this website 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 website and services. The website 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 website, without notice. To access some of the content or features of the website 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 website 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 you may only use this site with the active involvement of a parent, guardian or other supervising adult.

No Individual Investment Advice
This website does not provide individual or customized legal, tax, or investment services. Since each individual's situation is unique, a qualified professional should be consulted before making financial decisions.

Message Web Site Content Limitations
We make no guarantees as to the accuracy, thoroughness or quality of the information on this website, 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 website content. The information and investment 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 or business purpose. In addition, the opinions and views expressed in any article on this website are solely those of the author(s) of the article and do not reflect the opinions of Investopedia or its management. The website 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 website content.

License to Use Content
We grant you a limited personal use license to access, display, download, format and print portions of this website 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 website.

Third Party Content
Any testimonials, opinions, advice, product or service offers, or other information or content made available on or through this website 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.

Materials Posted by Users
By posting or submitting any material, you will be (a) granting Investopedia a world-wide fully paid-up non-exclusive license to allow your materials to be edited and displayed by Investopedia on its website, and accessed by Users, for the purposes and on the terms in these TOU, (b) 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 materials, and (c) representing that you own or otherwise have the right to post the materials, that the materials are accurate, that use of the materials on the Investopedia website does not violate any laws, and that the materials will not cause injury to any person. Investopedia shall have the right to use your name in connection with your posted materials.

Advisor Insights – for Users
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 advisors). Your use of and reliance on such services, if any, is entirely at your own risk, and you are solely responsible for complying with these Terms of Use 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 these Terms of Use, may be displayed in publicly viewable forums. Submission of a question does not guaranty a response will be provided. By submitting a question, 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, transfer, distribute and create derivative works from such question, and to associate your public profile information with such question, in any media formats and through any channels (whether now known or hereafter developed).

PLEASE NOTE: Investopedia does not provide tax, investment, or financial services. The information available through Investopedia’s Advisor Insights 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 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 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 advisor that provides answers via the service, and is not responsible for any claims made by any advisor. Investopedia is not endorsed by or affiliated with FINRA or any other financial regulatory authority, agency, or association.

Advisor Insights – for Financial Advisors

Participation in the AI Service as a financial 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 disclosures and other considerations deemed relevant by Investopedia. 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, of if there has been any other material change to your profile or the information submitted as part of the onboarding 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 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 should not include a recommendation that the questioner take a specific course of action. More specifically, your answers must not (i) recommend or promote specific securities, funds or other investments, (ii) advertise or promote your specific qualifications, experience or past performance, or (iii) directly solicit Investopedia users as clients.

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 or financial 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. 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 answer (with or without your associated public profile information), in any media formats and through any channels (whether now known or hereafter developed). You agree to not post the identical answer on any competing website.

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 answer (with or without your associated public profile information), in any media formats and through any channels (whether now known or hereafter developed). 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.

Your participation in the AI Service is solely in your discretion and nothing in these Terms of Use, nor is your participation itself intended to or should be construed to create a partnership, agency, joint venture, or employer-employee relationship with Investopedia.

Incentives, Rewards and Other Promotional Offers

Investopedia may offer incentives, offers, promotions, 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 Financial Advisor incentives program), 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 our Terms of Use. 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 does not guarantee that files available for downloading through its website 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.

Advertisers Are Not Endorsed

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 Investopedia website and services may provide links to other sites or resources. Because we do not review or 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 website. The information available on third parties? websites may have certain restrictions on its use or distribution which differ from these TOU.

Password Protected Areas
Some areas of the Investopedia site ("Password Protected Areas") are password protected and available only to Users who are registered with Investopedia to have an account. Registration requires Users to fully complete the account registration process. Investopedia reserves the right to deny or revoke registration or access to Password Protected Areas for any User. Investopedia takes reasonable measures to ensure the security of the Password Protected Areas but cannot guarantee the absolute security of information or communications in such Password Protected Areas. Users are responsible for maintaining the security of the password they receive from Investopedia and must notify us if they believe that the security of their password or account has been breached or subject to unauthorized use. Investopedia will not be liable for any loss or liability incurred as a result of an unauthorized person using a User's password.

Prohibited Conduct
The following activities are strictly prohibited:
• Spamming, advertising, soliciting or political campaigning
• Personal attacks on or abuse of any members, moderators, or administrators of a forum
• Postings for any unlawful or fraudulent purpose (including links)
• Posting of personal information (for yourself or anyone else)
• Phishing
• Posting materials containing viruses or other malicious or destructive code
• Posting of offensive content including profanity, obscenity, racist or pornographic material
• Posting of any materials that are defamatory or infringe any person's rights

This website may collect personal information from some Users. Because Investopedia respects the privacy of its Users and their personal information, it has established the Investopedia
Privacy Policy to protect your personal information.

When you visit our website or send us email, our responses to your communications will be by e-mail. 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.

Proprietary Rights
The Investopedia website and its content are protected by copyright, trademark and other proprietary laws. See our
Copyright Notice.

Copyright Infringement Policy

Reporting Copyright Infringement

Investopedia takes claims of copyright infringement seriously. We will respond to notices of alleged copyright infringement that comply with applicable law. If you believe any materials accessible on or from the website infringes your copyright, you may request removal of those materials (or access to them) from the website by submitting written notification to our Copyright Agent (designated below). In accordance with the Digital Millennium Copyright Act (17 U.S.C. § 512) ("DMCA"), the written notice (the "DMCA Notice") must include substantially the following:

  • Your physical or electronic signature.
  • Identification of the copyrighted work you believe to have been infringed or, if the claim involves multiple works on the website, a representative list of such works.
  • Identification of the material you believe to be infringing in a sufficiently precise manner to allow us to locate that material.
  • Adequate information by which we can contact you (including your name, postal address, telephone number and, if available, e-mail address).
  • A statement that you have a good faith belief that use of the copyrighted material is not authorized by the copyright owner, its agent or the law.
  • A statement that the information in the written notice is accurate.
  • A statement, under penalty of perjury, that you are authorized to act on behalf of the copyright owner.
You may submit your DMCA Notice to the address below:

Copyright Agent - Investopedia
IAC Publishing
Attn: Legal Department
555 12th Street, Suite 500
Oakland, CA 94607

If you fail to comply with all of the requirements of Section 512(c)(3) of the DMCA, your DMCA Notice may not be effective.

Please be aware that if you knowingly materially misrepresent that material or activity on this website is infringing your copyright, you may be held liable for damages (including costs and attorneys' fees) under Section 512(f) of the DMCA.

Repeat Infringers
It is our policy in appropriate circumstances to disable access to this website and/or terminate the accounts of users who are repeat infringers.

Subscription Services
Although Investopedia offers services in many parts of the world, certain Investopedia services may not be available in or suitable for certain countries or locales. We reserve the right to discontinue or to make changes to, any of our services at any time without advance notice.




These TOU, and any applicable TOS, constitute the entire agreement between each User and Investopedia governing the User's access to and use of the website and its services, and supersede all prior agreements regarding its subject matter. The TOU shall be governed by the laws of the State of California 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 San Francisco County, California. The failure by a User or Investopedia to exercise any right or to enforce any provision of the TOU shall not constitute a waiver of such right or provision. If any provision of the 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 the TOU will remain in full force and effect. It is the express will of Investopedia and each User that the TOU and any applicable TOS have been prepared in English.

Investopedia, LLC

555 12th Street, Suite 500

Oakland, CA 94607


Last revised on July 19th, 2016