General trading risk
Trading securities, cryptocurrency, options, and event/prediction-market contracts involves substantial risk of loss and is not suitable for all investors. Prices can move quickly and unpredictably. You may lose some or all of the funds allocated to a bot.
Automated / algorithmic trading risk
- Automated systems execute trades without a human reviewing each individual order — a flawed signal, a data error, or unexpected market conditions can result in unintended trades.
- Backtested or paper-trading performance does not predict live results; live markets include slippage, liquidity constraints, and execution timing a simulation can't fully replicate.
- Software bugs, connectivity loss, broker/exchange outages, or incorrect configuration can cause a bot to behave unexpectedly, including failing to exit a position as intended.
Alpaca-based bots (Stock, Crypto, Options)
These bots trade directly on your Alpaca account. Options trading in particular carries risk of rapid, total loss of the premium paid, and in some strategies, losses exceeding the initial investment.
Kalshi-based bots (Weather, Economics, Commodity Events)
These bots trade event contracts on Kalshi, a CFTC-regulated exchange for prediction markets. Contracts settle based on real-world event outcomes and can expire worthless. Kalshi has no separate "paper" trading environment in this software — paper mode for these bots is a local simulation against real market data, not a broker-provided sandbox. Live orders placed by these bots use real funds from the first trade in live mode.
No guarantee of profit
Nothing in the software, its marketing, its documentation, or communications from Reaper Software or its ambassadors constitutes a promise or guarantee of profit, a specific return, or a specific win rate. Ambassadors are contractually prohibited from promising trading profits.
Your acknowledgment
By enabling live trading on any ReaperBots module, you acknowledge that you've reviewed this disclosure and the Terms of Service, that automated trading can result in loss of some or all allocated funds, that you are solely responsible for your own trading decisions and settings, and that Reaper Software LLC is not a broker-dealer, investment adviser, or exchange and does not custody your funds.
Contact
Questions: support@reaper.software.