The license explicitly states: "The free version is free for viewing and annotating... but watermarks are applied to printed or saved modified documents."

For over a decade, PDF-XChange Viewer has been a staple recommendation for Windows users seeking a lightweight, fast, and feature-rich alternative to Adobe Acrobat Reader. However, its licensing model is often misunderstood. While the software is famously "free," that freedom comes with specific conditions and limitations.