Last updated: 27 August 2026

Please read these Terms of Use carefully before accessing or using any website, application, dashboard, calculation tool, API, Model Context Protocol (“MCP”) tool, artificial-intelligence integration or other digital service operated or made available by Alto Markets Ltd.

By accessing, registering for, connecting to or using any of the Digital Services, you agree to be bound by these Terms of Use.

If you do not agree to these Terms, you must not use the Digital Services.

1. About Alto Markets

Alto Markets Ltd is a company registered in England and Wales under company number 16760974.

Registered office:

3rd Floor, 86–90 Paul Street, London, EC2A 4NE, United Kingdom

Email:

support@altomarkets.co.uk

References in these Terms to “Alto Markets”, “Alto”, “we”, “us” or “our” mean Alto Markets Ltd.

2. Scope of These Terms

These Terms apply only to your access to and use of Alto Markets’ digital technology, information and calculation services, including:

altomarkets.co.uk
alto-fx.com
the Alto Markets dashboard
FX trade-analysis tools
historical FX market-rate tools
live spot and forward-rate tools
forward mark-to-market tools
FX cost and spread calculations
batch or spreadsheet-based analysis
APIs
MCP servers and tools
connectors
integrations with ChatGPT, Claude or other artificial-intelligence platforms
any other digital calculation, analytics or information functionality made available by Alto.

Together, these are referred to in these Terms as the “Digital Services”.

3. FX and Payment Services Are Separate

These Terms do not govern the provision or execution of:

foreign-exchange transactions;
payment services;
forward contracts;
hedging products;
credit facilities; or
any other financial or regulated service.

If you subsequently become a client of Alto Markets or access FX, payment or related services through Alto Markets, those services will be subject to a separate onboarding process and separate contractual terms and conditions, including, where applicable, terms issued by the relevant regulated service provider.

Use of an Alto website, account, dashboard, calculation tool, API, MCP connector or AI integration does not itself:

constitute onboarding for an FX or payment service;
establish a regulated client relationship;
constitute an order to transact;
create an obligation on Alto or any third party to enter into a transaction; or
entitle you to execute at any rate displayed by a Digital Service.

Regulatory and service-provider disclosures displayed elsewhere on Alto Markets’ websites, including relevant footer disclosures, should be read separately where applicable.

4. Other Applicable Policies

Your use of the Digital Services is also subject to our:

Privacy Policy
https://altomarkets.co.uk/privacy-policy/

Cookie Policy
https://altomarkets.co.uk/cookie-policy/

The Privacy Policy explains how Alto processes personal information associated with use of the Digital Services.

5. Intended Users

The Digital Services are principally intended for businesses, organisations and persons acting in a professional or commercial capacity.

If you access or use the Digital Services on behalf of a company, partnership, organisation or other legal entity, you confirm that you have authority to do so on its behalf.

You must not use the Digital Services if doing so would be unlawful in your jurisdiction.

6. Calculation and Market-Data Services

6.1 Informational purposes only

All calculations, rates, valuations, comparisons, estimates, analytics and other outputs produced by the Digital Services are provided for informational purposes only.

They are intended to assist users in analysing information and should not be treated as definitive statements of:

transaction value;
accounting value;
fair value;
executable market value;
bank or counterparty valuation;
tax treatment;
regulatory valuation;
financial position; or
any amount legally payable by or to any person.

6.2 Calculations may contain errors

Alto takes reasonable steps to design and operate its calculation tools accurately. However, errors, omissions, delays and inaccuracies may occur.

Results may be affected by matters including:

incorrect or incomplete user inputs;
formatting errors;
currency-direction errors;
date or time-zone differences;
rounding;
differing market conventions;
software defects;
calculation errors;
unavailable or incomplete data;
delayed market data;
incorrect third-party data;
differing data-provider methodologies;
value-date conventions;
market holidays;
forward-point calculations;
assumptions required by a calculation;
illiquid or disrupted market conditions; or
circumstances outside Alto’s reasonable control.

You must not assume that an output is accurate merely because it has been produced by an Alto Digital Service.

6.3 Independent verification

You are responsible for independently checking any material calculation, rate, valuation or other output before relying upon it.

Where appropriate, you should verify results against relevant independent records or sources, including:

bank or broker confirmations;
dealer statements;
treasury systems;
accounting records;
independent market-data sources; or
an appropriately qualified professional adviser.

The Digital Services should not be relied upon as the sole basis for a material financial, treasury, accounting, tax, regulatory or commercial decision.

6.4 Live market rates

Any live spot or forward rate displayed or returned by a Digital Service is indicative only unless expressly provided as an executable quote under separate applicable transaction terms.

An indicative rate:

may change immediately;
may not be available in the requested amount;
may differ from executable pricing;
may not include a commercial spread or other charges;
may vary according to transaction size, provider, credit, jurisdiction, liquidity and market conditions.

Display of a rate does not create an obligation on Alto or any third party to transact at that rate.

6.5 Historical market rates

Historical rates are intended to provide an indicative market reference for a particular date, time and, where relevant, value date.

Historical data may differ between data providers, venues and methodologies.

A historical rate provided by Alto does not establish that a user could necessarily have executed a transaction at that precise rate at the relevant time.

6.6 Trade Analysis

Trade Analysis may compare a user-supplied executed rate against an indicative market reference and estimate an embedded spread, monetary cost or other difference.

Any resulting:

cost;
spread;
margin;
difference;
saving;
percentage; or
performance classification

is an estimate produced using Alto’s methodology.

Such an output does not establish:

the actual profit earned by a bank, broker or other provider;
the provider’s underlying cost;
that the benchmark rate was executable;
that another provider would necessarily have achieved the benchmark;
that a particular spread was legally or commercially inappropriate;
that the user suffered a recoverable financial loss; or
that the user would necessarily have achieved a stated saving elsewhere.

6.7 Forward mark-to-market calculations

Any forward mark-to-market calculation produced by Alto is an indicative analytical valuation only.

It may differ from:

a counterparty valuation;
an accounting fair value;
a collateral or margin valuation;
a replacement value;
an early-termination amount;
a close-out amount; or
an executable market value.

Differences may arise from market timing, methodology, spreads, funding, credit adjustments, liquidity and provider-specific terms.

An Alto mark-to-market output should not be treated as an accounting, regulatory, collateral or termination valuation without independent verification.

6.8 Future exposures

Rates or calculations relating to future payments, forecast exposures or hypothetical transactions are informational only.

They do not constitute a commitment to execute a transaction or a representation that the same rate or financial outcome will subsequently be available.

7. No Advice

The Digital Services provide calculations, market data and information only.

Unless expressly agreed separately in writing and permitted by applicable law, Alto does not provide through the Digital Services:

investment advice;
personal recommendations;
trading advice;
hedging advice;
tax advice;
legal advice;
accounting advice;
hedge-accounting advice;
recommendations to buy or sell a currency;
recommendations concerning hedge percentages;
recommendations concerning hedge timing; or
recommendations concerning a particular FX strategy.

Nothing generated by an Alto calculation tool should be interpreted as a statement that you should buy, sell, hedge, refrain from hedging or undertake any other transaction.

You remain responsible for your own financial, treasury and commercial decisions.

8. Artificial Intelligence and MCP Integrations

8.1 Third-party AI platforms

Alto may make Digital Services available through third-party artificial-intelligence platforms and assistants, including through MCP, APIs, connectors or similar technologies.

Such platforms may include services operated by OpenAI, Anthropic or other technology providers.

Those platforms are operated independently from Alto.

8.2 Alto calculations versus AI interpretation

Where an artificial-intelligence platform calls an Alto tool, Alto provides the calculation or market-data output produced by that tool.

The third-party AI system may then independently:

interpret the output;
summarise it;
combine it with other data;
aggregate calculations;
analyse documents or spreadsheets;
perform additional arithmetic;
apply user-supplied policies or assumptions;
draw conclusions; or
generate commentary or recommendations.

Unless expressly stated otherwise by Alto, such interpretation, reasoning, commentary or recommendations are generated by the third-party AI platform and not by Alto Markets.

8.3 No responsibility for AI-generated content

Alto does not control and is not responsible for the independent behaviour or output of a third-party artificial-intelligence system.

An AI system may:

misunderstand a request;
select an inappropriate Alto tool;
incorrectly classify a transaction;
provide incorrect inputs;
omit relevant information;
aggregate data incorrectly;
perform arithmetic incorrectly;
misinterpret an Alto result;
hallucinate information;
make unsupported assumptions; or
generate commentary or recommendations that Alto has not made.

You are responsible for reviewing both the underlying Alto calculation and any AI-generated interpretation before relying upon the result.

8.4 AI-generated recommendations are not Alto recommendations

A recommendation, forecast, strategy, opinion or conclusion generated independently by ChatGPT, Claude or another AI platform must not be attributed to Alto merely because the AI system used an Alto calculation tool.

An Alto calculation and an AI platform’s interpretation of that calculation are separate outputs.

8.5 Third-party AI terms

Your relationship with a third-party AI provider is governed separately by that provider’s own terms and policies.

Alto is not responsible for that provider’s:

subscription arrangements;
account restrictions;
availability;
security;
privacy practices;
retention policies;
model behaviour; or
handling of information before it is sent to Alto or after Alto returns a result.

You should review the relevant provider’s terms and privacy information before submitting confidential or commercially sensitive information.

9. User-Supplied Information

You are responsible for the accuracy, completeness and lawfulness of all information submitted to a Digital Service.

This includes:

currencies;
amounts;
transaction rates;
trade dates;
trade times;
value dates;
forward details;
exposure schedules;
spreadsheets;
uploaded documents;
hedge information;
accounting information; and
other commercial or financial data.

Alto may perform calculations on the basis that information supplied to it is correct.

Alto is not responsible for incorrect outputs resulting from incorrect, incomplete, ambiguous or misclassified inputs.

You must have the right and authority to submit any information you provide.

10. Files, Spreadsheets and Bulk Analysis

Where a Digital Service analyses multiple transactions, spreadsheets, documents or other bulk information, you are responsible for checking that the underlying information has been interpreted correctly.

In particular, you should verify:

currencies;
amounts;
dates;
rates;
trade type;
whether a transaction is outstanding or delivered;
buy/sell direction;
column mappings; and
any assumptions used.

Where an AI platform interprets a spreadsheet or document before submitting structured information to Alto, you should check that the information passed to Alto accurately represents the source data.

11. User Accounts

Certain Digital Services require an Alto account.

When registering, you must provide accurate and current information.

You are responsible for:

maintaining the confidentiality of your credentials;
selecting an appropriate password;
preventing unauthorised access;
activity conducted through your account; and
notifying Alto promptly if you suspect unauthorised access.

We may suspend or disable access where we reasonably believe:

these Terms have been breached;
an account has been compromised;
fraudulent or unauthorised activity is occurring;
use presents a security risk;
applicable law requires suspension; or
continued use may cause harm to Alto or another person.

12. OAuth, Connectors and Authorised Applications

You may be able to authorise a third-party application or AI platform to access Alto calculation tools on your behalf.

By approving a connection, you authorise Alto to accept properly authenticated requests from that application within the permissions granted by you.

Your Alto password should not be supplied to the third-party application as part of an OAuth connection.

You are responsible for:

deciding whether to approve a connection;
maintaining security of the third-party account;
reviewing the permissions requested; and
revoking access where it is no longer required.

Alto may suspend or revoke a connection where reasonably necessary for technical, legal, security or operational reasons.

Revocation of a connector does not automatically delete your Alto account.

13. Availability and Changes to Digital Services

Alto does not guarantee that any Digital Service will:

always be available;
be uninterrupted;
be error-free;
support every currency or transaction;
remain compatible with every third-party platform; or
continue indefinitely in its present form.

We may modify, suspend, restrict, replace or discontinue all or part of a Digital Service where reasonably required.

This may include changes to:

calculation methodologies;
market-data providers;
supported currencies;
APIs;
MCP tools;
interfaces;
functionality; or
third-party integrations.

14. Third-Party Market Data

Some Digital Services rely on market data or other information supplied by third parties.

Alto does not control the underlying third-party data and cannot guarantee its accuracy, completeness, continuity or timeliness.

Third-party data may be:

delayed;
unavailable;
corrected;
revised retrospectively; or
affected by technical outages.

Alto may change market-data providers or methodologies where reasonably required.

Market data supplied through the Digital Services is intended for legitimate internal informational use.

You must not systematically reproduce, redistribute, resell or commercialise third-party market data where doing so would breach applicable licensing restrictions.

15. Intellectual Property

All intellectual-property rights in the Digital Services belong to Alto or its licensors.

This includes, where applicable:

software;
source code;
databases;
interfaces;
calculation methodologies;
algorithms;
branding;
documentation;
APIs;
MCP tool definitions;
designs;
graphics;
text; and
proprietary analytical processes.

Except as expressly permitted, you must not:

copy;
reproduce;
distribute;
sell;
license;
reverse engineer;
scrape;
systematically extract;
decompile;
create derivative services from; or
commercially exploit

a material part of the Digital Services without Alto’s prior written consent.

You may use outputs generated for you for legitimate internal business purposes.

16. Acceptable Use

You must not use the Digital Services:

unlawfully or fraudulently;
to mislead another person;
to gain unauthorised access;
to interfere with Alto systems;
to introduce malicious software;
to circumvent security controls;
to evade technical or usage limits;
to impersonate another person;
to extract market data for unauthorised redistribution;
in breach of sanctions or applicable law; or
in any way reasonably likely to damage Alto, its systems, providers or users.

Automated access is permitted only through interfaces Alto expressly makes available for that purpose.

17. Third-Party Services

The Digital Services may interact with or link to third-party websites, software, AI platforms, data providers and other services.

Such third parties are independent from Alto.

Alto does not control and, to the fullest extent permitted by law, is not responsible for their:

content;
availability;
security;
performance;
terms;
privacy practices;
actions; or
services.

A link or integration does not imply endorsement unless expressly stated.

18. No Warranty

To the fullest extent permitted by law, the Digital Services are provided “as is” and “as available”.

Alto does not warrant or represent that:

a calculation will always be correct;
market data will always be accurate or current;
the Digital Services will be uninterrupted;
the Digital Services will meet your particular requirements;
a stated or estimated saving will be achieved;
an indicative rate will be executable;
a third-party AI system will select or use an Alto tool correctly; or
the Digital Services will be free from technical defects.

Nothing in these Terms excludes any warranty or obligation that cannot lawfully be excluded.

19. Limitation of Liability

19.1 Liability that cannot lawfully be excluded

Nothing in these Terms excludes or limits liability for:

death or personal injury caused by negligence;
fraud or fraudulent misrepresentation; or
any liability that cannot lawfully be excluded or limited.

19.2 Business losses

If you use the Digital Services in the course of business, then, to the fullest extent permitted by law, Alto will not be liable for:

loss of profit;
loss of revenue;
loss of business;
loss of anticipated savings;
loss of opportunity;
loss of goodwill;
business interruption;
loss or corruption of data;
foreign-exchange loss;
trading loss;
hedging loss;
financing cost;
accounting loss;
tax loss;
loss arising from an incorrect calculation;
loss arising from incorrect or delayed market data;
loss arising from an incorrect historical rate;
loss arising from a mark-to-market calculation;
loss arising from user-supplied incorrect information;
loss arising from third-party data;
loss arising from AI interpretation;
loss arising from a third-party system or platform; or
indirect or consequential loss.

These exclusions apply whether liability arises in contract, tort (including negligence), breach of statutory duty, misrepresentation or otherwise, except where liability cannot lawfully be excluded.

19.3 Reliance on calculations

Without limiting the preceding provisions, Alto will not, to the fullest extent permitted by law, be liable for any decision to trade, hedge, refrain from trading, refrain from hedging, account for a transaction, value a position or take another action based wholly or partly upon:

an Alto calculation;
an indicative market rate;
an estimated transaction cost;
an estimated spread;
a historical benchmark;
a mark-to-market output;
an AI-generated interpretation; or
any combination of those items.

Independent verification is a material condition of your use of the Digital Services.

19.4 Third-party systems

Alto will not be responsible for loss caused by a third-party AI platform, market-data provider, hosting provider, telecommunications network or other system outside Alto’s reasonable control.

19.5 Nature of the Digital Services

The limitations in these Terms reflect the fact that many Alto Digital Services are provided without a separate fee and are intended to provide indicative informational analysis rather than certified financial valuations.

20. Misuse of the Digital Services

If you are a business user, you will be responsible for reasonable losses, liabilities, costs and expenses incurred by Alto as a direct result of:

deliberate or unlawful misuse of the Digital Services;
a material breach of these Terms;
unauthorised submission of another person’s confidential information;
deliberate infringement of third-party intellectual-property rights; or
deliberate interference with Alto’s systems,

except to the extent caused by Alto’s own breach, negligence or misconduct.

21. Privacy and Data Protection

Alto processes personal information in accordance with its Privacy Policy.

Where you access Alto through a third-party platform, information may be processed separately by both Alto and that platform.

You should review the third party’s privacy terms separately.

You must not submit personal, confidential or commercially sensitive information unless you are authorised to do so.

22. Confidential and Commercially Sensitive Information

You are responsible for deciding what confidential or commercially sensitive information you provide to a third-party AI platform.

Although Alto applies appropriate controls to information it receives, Alto cannot control how information is handled by a third-party platform before being sent to Alto or after an Alto result is returned.

Availability of an Alto connector inside an AI platform does not constitute a representation that the platform is appropriate for every category of confidential information.

23. Suspension and Termination

Alto may suspend or terminate access to all or part of a Digital Service where reasonably necessary for:

breach of these Terms;
security;
suspected fraud;
technical maintenance;
legal or regulatory requirements;
sanctions concerns;
excessive or abusive automated usage;
third-party provider requirements; or
discontinuation of the Digital Service.

You may stop using the Digital Services at any time.

24. Changes to These Terms

Alto may amend these Terms from time to time.

The current version will be published on this page together with the date of the latest update.

Where appropriate, material changes affecting registered users may also be notified through email, the dashboard or another reasonable electronic method.

Continued use of the Digital Services after revised Terms take effect constitutes acceptance of those revised Terms where permitted by law.

25. Severability

If any provision of these Terms is determined to be invalid, unlawful or unenforceable, it will be modified to the minimum extent necessary to make it enforceable.

If modification is not possible, that provision will be treated as deleted.

The remainder of these Terms will continue in effect.

26. No Waiver

Failure by Alto to enforce a right under these Terms does not constitute a waiver of that right.

Any waiver must be expressly given in writing.

27. Assignment

You may not assign or transfer your rights or obligations under these Terms without Alto’s prior written consent.

Alto may assign or transfer its rights or obligations in connection with a lawful corporate reorganisation, sale, acquisition or transfer of business.

28. Entire Agreement

If you are a business user, these Terms together with the documents expressly incorporated into them constitute the entire agreement between you and Alto regarding use of the Digital Services.

These Terms do not replace, amend or form part of any separate terms governing FX, payment or other financial services.

29. No Partnership, Agency or Fiduciary Relationship

Nothing in these Terms creates a:

partnership;
joint venture;
employment relationship;
agency relationship; or
fiduciary relationship

between you and Alto.

Use of a Digital Service does not make Alto your investment adviser, treasury adviser, accountant, legal adviser, agent or fiduciary.

30. Third-Party Names and Trade Marks

Third-party names and trade marks remain the property of their respective owners.

References to ChatGPT, Claude, OpenAI, Anthropic or other third-party services are for identification and interoperability purposes only and do not imply endorsement, sponsorship or affiliation unless expressly stated.

31. Geographic Availability

Digital Services may be restricted or unavailable in certain jurisdictions because of:

applicable law;
sanctions;
provider availability;
technical limitations; or
Alto’s own geographic restrictions.

You are responsible for ensuring that your use of the Digital Services is lawful in your location.

32. Events Outside Alto’s Reasonable Control

Alto will not be responsible for delay, interruption or failure caused by circumstances outside its reasonable control, including:

market disruption;
internet or telecommunications failure;
cloud-service outages;
cyber incidents;
power failure;
market-data outages;
third-party platform failure;
government action;
natural disaster;
war;
civil disturbance; or
industrial action.

33. Notices

Notices relating to these Terms may be sent to Alto at:

support@altomarkets.co.uk

Alto may provide notices to registered users through email, the Alto dashboard, an in-product message or another reasonable electronic method.

34. Governing Law and Jurisdiction

These Terms and any dispute or claim arising out of or in connection with them, including non-contractual disputes or claims, are governed by the laws of England and Wales.

If you are acting in the course of business, the courts of England and Wales will have exclusive jurisdiction.

Where applicable law gives a consumer a mandatory right to bring proceedings elsewhere, nothing in these Terms removes that right.

35. Contact

Questions regarding these Terms may be sent to:

Alto Markets Ltd
3rd Floor
86–90 Paul Street
London
EC2A 4NE
United Kingdom

Email: support@altomarkets.co.uk

Important Summary

Alto Markets’ Digital Services are designed to provide FX calculations, market-data analysis and related informational tools.

They do not govern or constitute the provision of FX or payment execution services.

In particular:

calculations may contain errors;
market data may be delayed, incomplete or incorrect;
live rates are indicative and are not executable quotes;
historical rates are indicative reference rates;
mark-to-market outputs are indicative analytical valuations;
material results should be independently verified;
Alto’s Digital Services do not provide trading, hedging, investment, tax, legal or accounting advice; and
interpretations, recommendations or conclusions independently generated by ChatGPT, Claude or another artificial-intelligence platform are not advice or recommendations made by Alto Markets.

By using the Digital Services, you acknowledge and accept these limitations.