Terms and risk disclosures

Cowboy reads the holdings, balances and orders in the brokerage accounts you connect, answers your questions about them, sends you briefs and alerts, and drafts orders for you to review.

Cowboy is not a broker-dealer, bank, custodian or registered investment adviser. Your money and securities stay at your brokerage, in your name, and every order is placed in your account at your brokerage. Cowboy is not a member of SIPC, and nothing held at your brokerage is insured or protected by Cowboy. Any protection your account has comes from your brokerage.

Nothing Cowboy says is investment, tax or legal advice. Facts, estimates and drafts are information for you to weigh, not recommendations. Consult a qualified professional before you act on anything that matters to you.

Investing involves significant risk, including the possible loss of your entire investment. Markets move quickly, and prices can change between the moment Cowboy drafts an order and the moment it reaches your brokerage. Past performance does not predict future results. Cowboy may not be appropriate for every investor.

Crypto is especially volatile, and crypto held at an exchange is generally not FDIC insured or SIPC protected. If your brokerage allows margin, short selling or other complex strategies, those carry additional risk, including losses greater than the amount you invested.

Cowboy runs on AI models. AI can make mistakes, misunderstand what you asked, act on incomplete, delayed or outdated information, and behave in unexpected ways. Cowboy does not guarantee that any answer, number, estimate, brief, alert or draft order is accurate, complete, timely or suitable for you.

You are responsible for reading every draft before you approve it, reviewing your account activity, monitoring your positions, and making sure Cowboy is doing what you expect. If something looks wrong, don't approve it, and check with your brokerage directly.

Cowboy never places an order without your approval. It drafts the order, shows you the details, and waits for you to approve it. Once you approve, the order is sent to your brokerage, where it may fill right away and may not be possible to cancel. The price you get may differ from the price in the draft.

Approving an order is your decision. You are responsible for every order you approve, and you assume all risk for its execution and result.

You connect a brokerage by signing in with your broker through our connection partner. Your brokerage login never passes through Cowboy, and we store no broker keys. By connecting an account, you authorize Cowboy to view its data and to place the orders you approve.

Your brokerage's own terms still apply to your account. Cowboy does not control your brokerage or our connection partner and is not responsible for their outages, delays, errors, data, order handling or fees. Which accounts can trade and which are read-only depends on your broker.

To answer you, Cowboy sends your messages and the account data a reply needs, such as holdings, balances and orders, to third-party AI model providers. Once it is sent, that data is processed under those providers' terms as well as ours. Don't send Cowboy passwords, account numbers or anything else you would not want shared this way.

You assume the risk of sharing your data with these providers. Snapshots and blends you choose to share show percentages, never dollar amounts.

What we collect, who processes it for us, and how to have it deleted are in our privacy policy.

When you link a phone, Cowboy texts you over iMessage or SMS, including the briefs and alerts you have on. Texts travel over your carrier's and Apple's networks, and anyone with access to your phone can read them. Message and data rates may apply.

Every account starts on Free, which costs nothing. Base and Pro are paid monthly plans. What each plan includes and what it costs are shown on the plans page, and the price you will pay is shown at checkout before you confirm. Prices are in US dollars.

A paid plan renews automatically every month, and we charge the card you added at checkout at the start of each month, until you cancel. Payments are processed by Stripe; Cowboy never sees or stores your full card number.

You can cancel at any time from Billing in your account settings, or Manage plan on the plans page. When you cancel or move to a lower plan, you keep your current plan until the end of the month you have paid for, and the change takes effect after that. Payments are not refunded for partial months, except where the law requires.

We may change prices or what a plan includes. Before a new price applies to your plan, we will tell you, and you can cancel before it takes effect. Moving to a lower plan never switches off what you already set up, but a lower plan's limits apply to anything you create or switch back on.

Cowboy is available only in the United States, to people 18 or older who can form a binding contract. You are responsible for keeping your account and linked phone secure, and for everything done through them.

Cowboy is provided “as is” and “as available,” without warranties of any kind. To the fullest extent the law allows, Cowboy is not liable for any loss resulting from AI-generated answers or drafts, orders you approve, market movements, delayed or missing data, or the acts or failures of your brokerage, our connection partner, AI model providers or messaging carriers.

We may update these terms as Cowboy changes. The date at the top shows when they last changed. Continuing to use Cowboy after an update means you accept the new terms.