1.1 The Marketplace is operated by BDPO Ltd, a company registered in England and Wales under company number 13314687, whose registered office is at 60 Tottenham Court Road, Suite 5994a, Fitzrovia, London, W1T 2EW, United Kingdom ("BDPO", "we", "us").

1.2 These Marketplace Terms apply when you publish, acquire, buy, review or report an Item. They add to our general Terms of Service and Privacy Policy. If these Marketplace Terms conflict with the Terms of Service on a Marketplace matter, these Marketplace Terms win.

1.3 You accept these terms by ticking the box when you first submit a listing or first acquire an Item. When we change them in a way that matters, we'll ask you to accept the new version before you can list or acquire again (see section 17).

• Item: a strategy or indicator published on the Marketplace, free or paid.
• Listing: an Item's page, including its title, description, summary, highlights, tags, images, uploaded reports and price.
• Community Content: questions and answers, reviews and replies that users post on a Listing.
• Share Link: the link to a Listing that its Seller gets from BDPO to promote it (section 5.10).
• Seller: a user who submits a Listing. Buyer: a user who acquires an Item, free or paid.
• Protected Copy: the compiled, obfuscated and watermarked version of an Item that Buyers run. Buyers never receive the Item's source code.
• Watermark: identifiers we build into each Protected Copy that let us tell which Item it came from and which account it was issued to. A Watermark never changes an Item's results on the market data Algo Studio provides.
• Licence: the Buyer's right to use an Item described in section 6.2.
• Consumer: an individual acting wholly or mainly outside their trade, business, craft or profession.
• BDPO People: BDPO Ltd's directors, officers, employees, workers, agents and contractors.

3.1 You must be at least 18 and able to enter into a binding contract.

3.2 You must not use the Marketplace where doing so is unlawful where you live, or if you are subject to sanctions.

3.3 To sell paid Items you must complete Stripe's identity and payout checks (section 5.8). You may be asked for proof of identity or business details at any time.

4.1 We provide a platform where Sellers can offer Items and Buyers can run them in Algo Studio's backtesting and replay tools, using historical market data.

4.2 BDPO Ltd is not authorised or regulated by the Financial Conduct Authority. Nothing on the Marketplace is a personal recommendation, investment advice, a signal service or an invitation or inducement to buy or sell any investment or to open or fund a trading account. Items do not connect to brokers and do not place live trades.

4.3 We test Listings automatically and review them by hand before they go live (section 5.5). That process checks that an Item runs and that its Listing follows these rules. It is not an assessment of whether an Item is profitable, suitable for you, or free of errors, and approval is not an endorsement.

4.4 Items are created by Sellers, not by us. Sellers are responsible for their Items and Listings. For paid Items we act as the merchant of record: we take payment, handle refunds and complaints, and pay the Seller their share (sections 5.8 and 6.3).

4.5 Community Content is written by users, not by us. It is their own opinion or experience, we don't check whether it is accurate, and it is not advice from BDPO Ltd. We may remove Community Content that breaks these terms.

5.1 Your status and obligations

5.1.1 If you sell Items regularly or as part of a business, you are likely to be a trader under consumer law. You are responsible for complying with the laws that apply to you, including consumer, tax and data protection law.

5.1.2 You must keep your account details accurate and must not submit Listings on someone else's behalf without their permission.

5.2 Listing rules

5.2.1 Your Listing must accurately describe what the Item does: its logic, inputs, markets and limits. The rules in this section 5.2 also apply to everything you write as a Seller in Community Content (answers to questions and replies to reviews) and to how you promote your Listing elsewhere (section 5.10).

5.2.2 Your Listing must not, in any field or image:

• promise, guarantee or imply profit, income, returns or a lack of risk (for example "guaranteed", "risk-free", "will make you rich", "10% a month", "never loses");
• invite or encourage anyone to trade with real money, open or fund a trading account, connect a broker or copy trades;
• present the Item as advice, a signal service, or suitable for any particular person;
• claim FCA authorisation, approval or regulation, or any endorsement by BDPO;
• include testimonials about money made, or performance figures other than reports generated by BDPO under section 5.3.4;
• include links, contact details, or any attempt to move Buyers off the Marketplace;
• include offensive, hateful, sexual or indecent material, or images of real people without their consent;
• include, in any image or uploaded report, anything this section 5.2 forbids in text, including performance claims presented as a promise, or source code you don't want buyers to see;
• use names, logos or trade marks you don't own, or impersonate anyone;
• use pressure-selling (false scarcity, countdowns, "only 3 left").

5.2.3 We check Listings automatically when you write them and again at review, but you remain responsible for what your Listing says. Each Listing name must be unique among live Listings.

5.3 Your promises (warranties)

5.3.1 You own the Item and every image and report in your Listing, or have every right needed to license them as these terms describe. None of it copies or infringes anyone else's code, images, trade secrets or other rights.

5.3.2 The Item contains no malicious code, and makes no attempt to escape the testing sandbox, access data it shouldn't, contact external services, degrade the platform, or identify or track Buyers.

5.3.3 The Item behaves as its Listing describes, and you have not deliberately made it behave differently during review than in normal use.

5.3.4 Any report you upload accurately reflects the Item as listed, clearly labels simulated results as simulated (with the markets, timeframes and period used), and makes no promise of future performance.

5.3.5 Your Listing and Item comply with these terms and with the law.

5.3.6 Your answers to Buyers' questions are accurate and honest, and don't promise or suggest any profit, return or level of performance.

5.3.7 The Item is not made from, and does not reproduce the logic of, another Item, including one you worked out by decompiling, de-obfuscating, reverse engineering or systematically testing a Protected Copy.

5.4 Licence you give us

5.4.1 You keep ownership of your Item. You give BDPO Ltd a worldwide, non-exclusive, royalty-free licence, for as long as the Item is on the platform and afterwards as needed under 5.4.2, to store, copy, compile, obfuscate, watermark, run and test the Item (including in automated sandboxes), to display the Listing (including its images and reports), to feature it in the Marketplace, newsletters and our own promotion of the Marketplace, and to grant Buyers the Licence in section 6.2.

5.4.2 If you remove an Item, Buyers who already acquired it keep their Licence, so our licence continues to the extent needed to support them, handle disputes, and keep records.

5.4.3 Protected, not secret. Buyers run the Protected Copy on their own device, in their browser. We compile, obfuscate and watermark it to make extracting its logic difficult, slow and traceable, but no software that runs on someone else's device can be made impossible to copy, and we don't promise that it can't be. If we find that an Item has been extracted or copied, we will act under 6.2.5 and may share relevant evidence with you so you can protect your rights.

5.5 Review, testing and our decision

5.5.1 Every new Listing is "in review" and hidden until approved. We run the Protected Copy in an isolated sandbox on several markets and timeframes, check the source and Listing, and then a person reviews it. We aim to decide within 2 working days but don't guarantee a time.

5.5.2 We may approve or reject any Listing, and remove any live Listing, at our reasonable discretion, including where it breaks these terms, doesn't work, creates legal or reputational risk, or duplicates another Listing. We will tell you the reason where we reasonably can. We are not liable to you for a decision made in good faith.

5.5.3 If a Listing is rejected you may fix it and submit it again as a new Listing. You may ask us to reconsider by contacting us (section 20).

5.5.4 To find copies, we may compare an Item's code, and how it trades in our tests, with other Listings (including removed ones) and with Protected Copies we have issued, both at review and afterwards.

5.6 Listings are fixed

5.6.1 A Listing, including the Item's code, cannot be edited, updated or versioned after you submit it. Buyers get exactly what was reviewed. To change anything, remove the Listing and submit a new one, which goes through review again. Each Item's code may only be listed once.

5.7 Removing a Listing

5.7.1 You can remove your Listing at any time. It stops being shown and sold straight away. Buyers who already acquired it keep their Licence.

5.8 Prices, fees and payouts

5.8.1 You set the price (free, or £1 to £5,000). Prices are shown to Buyers in GBP and are the total the Buyer pays.

5.8.2 For each paid sale BDPO Ltd keeps a platform fee of 20% of the price and you receive 80%. For a sale made through your Share Link (section 5.10) the fee is 10% and you receive 90%. Stripe's processing costs are paid from our fee. The fee that applies is fixed when the Buyer starts checkout, and our order records decide whether a sale came through your Share Link.

5.8.3 Payouts are made through Stripe Connect. To receive them you must accept the Stripe Connected Account Agreement and complete Stripe's checks. Funds are held for 14 days before paying out so that refunds and chargebacks can be settled.

5.8.4 If a sale is refunded or charged back, the Seller's share is reversed. We may deduct amounts you owe us from future payouts, reverse transfers, or ask you to repay them. We may hold payouts where we reasonably suspect fraud, a breach of these terms, or a legal requirement.

5.8.5 We may change our fees by giving you at least 30 days' notice. A change never affects a sale that has already started checkout.

5.9 Tax and reporting

5.9.1 You are responsible for tax on your earnings. We may be required to treat sales as made by us for VAT purposes; where that applies, prices include any VAT and your share is calculated on the price net of it. We may share information about you and your sales with HMRC or other authorities where the law requires.

5.10 Promoting your Listing and your Share Link

5.10.1 You may share your Share Link anywhere you're allowed to. You are responsible for what you post. When you promote your Listing, on BDPO or anywhere else, you must follow section 5.2: in particular, no promises of profit or returns, no encouragement to trade real money, nothing that presents the Item as advice or a signal service, and no claim that BDPO Ltd endorses you or your Item.

5.10.2 You must not use your Share Link to buy your own Item, use automated tools, fake accounts or paid clicks to inflate views, or otherwise manipulate the lower fee or your statistics. If you do, or if your promotion breaks 5.10.1, we may charge the standard fee on the sales involved, deduct the difference from your payouts, and suspend your Listings.

5.10.3 Your promotion is your own communication, not ours. BDPO Ltd does not approve it, and you must not say that we do.

5.11 Questions and your statistics

5.11.1 Anyone signed in can ask you a public question on your Listing. You don't have to answer, but anything you do write must follow 5.2 and 5.3.6. We may remove questions or answers that break these terms.

5.11.2 We show you counts of views, Share Link visits, followers and sales for your Listings. They are estimates for your information. We never show you who viewed or bought your Item.

6.1 What you're acquiring

6.1.1 An Item is software you run inside Algo Studio's backtesting and replay tools on historical data. You receive a Licence to run the Protected Copy. You never receive the source code. Items do not connect to a broker and do not place trades.

6.1.2 What a Listing describes. A Listing describes an Item's logic, inputs and intended markets: how it decides to enter and exit simulated trades. No Listing describes or promises any profit, return, win rate or future performance, and Sellers are not allowed to (section 5.2). Reports, reviews, answers to questions, and backtests you or anyone else runs show what happened in particular simulations. They are not a description of how the Item will perform in future.

6.1.3 What "works" means. To help you understand your rights (which this clause does not limit): an Item works as described when it runs in Algo Studio's backtesting tools and behaves in line with the logic its Listing describes. So an Item is not faulty or not as described just because:

• it loses money, or makes less than you hoped, in a backtest or anywhere else;
• it places few or no trades in some conditions, or on markets or timeframes its Listing doesn't say it's built for;
• its results differ from a report, a review or another person's results, which can differ because of dates, markets, timeframes, data, settings, costs or engine version;
• its results change after we update Algo Studio's engine or market data (6.1.4); or
• it doesn't suit your goals, strategy or appetite for risk.

6.1.4 Engine and data updates. We improve Algo Studio's simulation engine and market data over time. The Item's code stays exactly as it was reviewed, but its simulated results can change as a result. That is not a change to the Item.

6.2 Your Licence

6.2.1 The Licence is personal, non-exclusive and non-transferable. It lets you run the Item in Algo Studio for your own research. It continues while you have an account, unless it ends under 6.2.3, 7 or 15.

6.2.2 You must not, or try to, copy, share, resell, sublicense, decompile, de-obfuscate, reverse engineer or extract the Item or its logic; remove, alter or hide any Watermark; get around any technical protection on the Item; run the Item, or request Protected Copies, systematically to work out how it works rather than for your own research; or use the Item to build a competing product. This applies except to the extent the law allows you to do something regardless of this clause.

6.2.3 Your Licence ends if the payment for it is refunded or successfully charged back, or if you breach 6.2.2. It is suspended while a chargeback is open.

6.2.4 Watermarks and records. Each Protected Copy issued to you carries Watermarks linked to your account. We keep a record of each Protected Copy we issue: when, for which Item, and with which inputs. We use these to protect Sellers' Items and to investigate misuse (section 16.3).

6.2.5 If you breach 6.2.2. We may: end your Licence for that Item and for any other Item; suspend or close your account; remove any Listing that uses the extracted logic and withhold or reclaim payouts from it; and share evidence, including Watermarks and our records, with the affected Seller and, where needed to stop the misuse, with courts, law enforcement or the operators of other platforms. We, and the Seller, may also claim compensation and ask a court to stop the misuse. A Licence that ends for breach of 6.2.2 is not refunded, except where the law requires it. Your statutory rights as a Consumer are not affected.

6.3 Buying paid Items

6.3.1 You buy paid Items from BDPO Ltd, which takes payment as merchant of record on the Seller's behalf. Payment is processed by Stripe; we never see or store your full card details.

6.3.2 The contract is formed when payment succeeds. You get access straight away and we confirm the purchase by email or in-app notification.

6.3.3 If a price is clearly wrong, we may cancel the order and refund you in full.

6.3.4 At checkout you confirm, separately, that you understand the Item is research software written by another user and not investment advice, that it runs on historical data and does not trade, that it can lose money in backtests and that you could lose money if you trade in a similar way, that simulated past results don't predict future results, and that any trading decision is yours alone. We record when you confirmed this and repeat it in your confirmation email.

6.3.5 If you ask us to at checkout, we'll send you one reminder email if you don't finish paying. Nothing else is sent on the back of that request.

6.4 Reviews

6.4.1 Only Buyers who have acquired an Item can review it, and reviews must reflect your genuine experience. Sellers must not review their own Items, offer anything for reviews, or post or commission fake reviews. We remove reviews that break these rules and may act against the accounts involved.

6.4.2 Reviews, replies, questions and answers must not contain links or contact details, offensive language, or claims or promises about profit or returns (for example "guaranteed" or "made me £500 a week"). Describe how the Item behaved, not what it earned. About a week after you get an Item we may send you one message asking you to review it.

6.5 Following Sellers

6.5.1 If you follow a Seller we'll notify you in BDPO when they publish a new Listing. We'll only email you about it if you tick the box to ask for those emails, and every such email has a link to stop them.

7.1 Your 14-day right to cancel. Consumers usually have 14 days to cancel a contract for digital content bought online. Because Items are supplied immediately, we ask you at checkout to confirm that you want access straight away and that you understand you lose the right to cancel once access starts. We only supply the Item after you've given that confirmation. If you don't want to give it, please don't complete the purchase.

7.2 Faulty or not as described. Nothing in these terms affects your statutory rights. Under the Consumer Rights Act 2015, digital content must be of satisfactory quality, fit for purpose and as described. If an Item isn't, contact us (section 20) and we will, as the law requires, repair or replace it or, if that isn't possible or doesn't fix the problem within a reasonable time, give you some or all of your money back. Because Listings are fixed and can't be updated, the remedy is usually a full or partial refund. See 6.1.2 and 6.1.3 for what a Listing describes.

7.3 How to raise a problem. Tell us which Item, what you expected it to do from its Listing, and what it did instead, including the market, timeframe and settings you used. We will try to reproduce it by running the Item as reviewed, and reply within 14 days. It helps us sort things out quickly if you contact us soon after you notice the problem.

7.4 Goodwill refunds. We may also refund in other cases at our discretion, for example if a Listing is removed because it broke these terms shortly after you bought it.

7.5 Refunds go back to the original payment method, usually within 14 days of agreeing them. When a purchase is refunded your Licence ends and the Item is removed from your library.

7.6 If you have a problem, please contact us before raising a chargeback with your bank; we can usually sort it out faster. If you do raise a chargeback, we may give your card issuer the records described in 18.4, including the confirmations you gave at checkout.

8.1 Backtests, replays and any figures shown on the Marketplace are simulated results on historical data. They have limitations: they may not account for all costs, slippage, liquidity, data errors or changing market conditions, and they benefit from hindsight. Simulated past results are not a reliable indicator of future results.

8.2 Trading foreign exchange, contracts for difference, cryptoassets and other leveraged products carries a high risk of losing money rapidly. You should only trade with money you can afford to lose and should consider independent financial advice. Any decision to trade is yours alone.

8.3 If you trade. Items are built and tested for backtesting, not for live trading. If you choose to trade real money in a way that is similar to, or informed by, an Item (for example by placing trades by hand when an Item would have), you do so at your own risk, and the result of that trading is not a fault in the Item.

8.4 What you rely on. Neither we nor any Seller make any statement about how an Item will perform in future. Nothing in a Listing, report, review, answer, email or notification is a promise, forecast or recommendation. Please don't rely on any of it as one.

You must not:

• break the law, these terms or anyone else's rights;
• try to access other users' Items, source code or data, or bypass the Protected Copy, watermarking or entitlement checks;
• remove, alter, hide or interfere with any Watermark;
• submit as your own an Item that copies, or is derived from, another Item's logic, including logic taken from a Protected Copy;
• request Protected Copies with automated tools, or in volumes beyond normal research use;
• upload code designed to harm the platform, its users, or its testing systems;
• manipulate rankings, downloads, reviews, views, Share Links or the review process, including through multiple accounts or automated tools;
• use questions or any other feature to probe, reconstruct or extract an Item's logic;
• solicit Buyers or Sellers to transact outside the Marketplace;
• harass, threaten or abuse anyone, or use offensive language anywhere on BDPO.

10.1 You can report a Listing or review from its page or by contacting us. We review reports and may remove content, suspend Listings, or take action against accounts.

10.2 If you believe a Listing infringes your intellectual property, contact us with details of your rights and the Listing. We may remove it while we investigate and may share your notice with the Seller.

10.3 Complaints about a purchase, a review decision or any other Marketplace matter can be sent to us (section 20). We aim to acknowledge within 5 working days, reply fully to a purchase problem within 14 days, and to anything else within 30 days.

10.4 If we can't resolve a complaint from a Consumer, we'll tell you so in writing, give you the details of an alternative dispute resolution provider, and say whether we agree to use it. You can also go to court (section 19).

11.1 BDPO, Algo Studio, the platform, the Marketplace design and generated cover art belong to BDPO Ltd or its licensors. Sellers keep ownership of their Items, subject to the licences in these terms. If you send us feedback, we may use it without obligation to you.

12.1 What we never limit. Nothing in these terms limits or excludes liability for death or personal injury caused by negligence, for fraud or fraudulent misrepresentation, or for anything else that cannot legally be limited or excluded, including your statutory rights as a Consumer.

12.2 If you are a Consumer. We are responsible for loss or damage you suffer that is a foreseeable result of our breaking these terms or failing to use reasonable care and skill. We are not responsible for loss that was not foreseeable. Items are for private research; we are not responsible for business losses, such as lost profit or business interruption.

12.3 Trading losses. Items are research tools that run on historical data, do not trade and are not advice. To the extent the law allows, neither we, the BDPO People nor the Seller are responsible for any gains you miss or losses you incur from trading or investment decisions you make, whether or not you used an Item, a Listing or any Community Content to inform them.

12.4 Limit for Consumers. Apart from what we never limit (12.1) and your statutory rights and remedies for a faulty Item (section 7), our total liability to you for any Item is limited to the greater of the price you paid for it and £100.

12.5 Sellers and Buyers. A Buyer's contract for an Item is with BDPO Ltd, not with the Seller. To the extent the law allows, Buyers bring any claim about an Item against BDPO Ltd under these terms, not against the Seller personally; this doesn't affect our rights against the Seller under sections 5 and 14.

12.6 If you use the Marketplace for business (including as a Seller). Any claim must be brought within 12 months of when you became aware of it. The platform and Marketplace are provided "as is". To the extent the law allows, we exclude all implied terms, and we are not liable for any loss of profit, revenue, business, goodwill or data, or any indirect or consequential loss. Our total liability to you arising from the Marketplace in any 12 months is limited to the greater of £100 and the platform fees we retained from your sales in that period.

12.7 We are not responsible for Items or Listings created by Sellers, except as merchant of record under section 7, and are not responsible for delays or failures caused by events outside our reasonable control.

13.1 You agree that your contract for the Marketplace is with BDPO Ltd only. To the extent the law allows, no BDPO People have any personal liability to you in connection with the Marketplace, any Item, any Listing, any review decision, or these terms, and you will bring any claim only against BDPO Ltd.

13.2 Every limitation and exclusion of liability in these terms, and every indemnity in section 14, is also given for the benefit of the BDPO People. Each of them may enforce this section 13 and those provisions under the Contracts (Rights of Third Parties) Act 1999.

13.3 In particular, no BDPO People owe you a personal duty of care in testing, reviewing, approving, rejecting or removing a Listing, moderating Community Content, or handling a complaint. They do that work for BDPO Ltd, and BDPO Ltd is responsible for it to the extent these terms say.

13.4 This section does not limit liability that cannot legally be limited, including for fraud or for death or personal injury caused by negligence.

14.1 Sellers. You will compensate BDPO Ltd and the BDPO People for all losses, liabilities, fines, costs and reasonable legal fees arising from a claim, complaint or investigation caused by your Item or Listing, your answers and replies, how you promote your Listing (5.10), your breach of these terms (including your warranties in 5.3), your infringement of anyone's rights, or your tax affairs, including refunds and chargebacks we pay on your sales.

14.2 Business users. If you use the Marketplace for business purposes, you will compensate BDPO Ltd and the BDPO People for losses arising from your breach of section 6.2.2 or section 9. This clause does not apply to Consumers.

14.3 We will tell you promptly about any claim covered by this section and allow you reasonable involvement in defending it.

15.1 We may suspend or remove Listings, suspend payouts, or suspend or close accounts where we reasonably believe these terms or the law have been broken, where there is a risk of harm or fraud, or where a regulator or court requires it. Where we can, we'll explain why and give you a chance to respond.

15.2 If we close an account for a serious breach, the account holder's Licences may end. If we close the Marketplace or an account for any other reason, we will give reasonable notice and, for paid Items you can no longer use, consider a refund in line with section 7.

15.3 Sections 5.4.2, 5.8.4, 5.10.2, 6.1, 6.2.2, 6.2.4, 6.2.5, 7, 8, 11 to 14, 16.3, 18 and 19 continue after these terms end.

16.1 We handle personal data as described in our Privacy Policy. Sellers' identity and bank details are collected by Stripe, not us. We don't share Buyers' identities with Sellers; Sellers see aggregate sales and download figures only. The one exception is evidence of a breach of 6.2.2, which we may share with the affected Seller under 6.2.5.

16.2 We count Listing page views (numbers only, not who viewed). A Share Link is recognised from the link itself; we don't set a cookie for it. We keep records of checkout confirmations and Community Content to operate the Marketplace and deal with complaints and disputes.

16.3 Watermarks and Protected Copy records (6.2.4) are linked to your account. We use them, on the basis of our legitimate interest in protecting Sellers' Items and the Marketplace, to detect and investigate copying and extraction. We keep them while you hold the Licence and for 6 years after it ends, so we can deal with claims.

17.1 We may update these terms, for example to reflect changes in the law or in how the Marketplace works. Each version is numbered. When a change matters, we'll ask you to accept the new version before you next list or acquire an Item. Changes don't affect purchases you've already made.

18.1 If a court finds part of these terms unenforceable, the rest continues to apply. If we delay enforcing these terms, we can still enforce them later.

18.2 We may transfer our rights and obligations under these terms to another organisation; we'll tell you, and it won't reduce your rights. You may not transfer yours without our consent.

18.3 These terms, the Terms of Service and the Privacy Policy are the whole agreement between you and us about the Marketplace. Apart from the BDPO People under section 13, nobody else has any right to enforce these terms.

18.4 We keep records of each Listing as reviewed (its code fingerprint and automatic test results), each order (including the confirmations you gave at checkout and when), and Community Content. We may use them as evidence of what happened, for example in a complaint or chargeback. You can still challenge them.

19.1 These terms are governed by the law of England and Wales, and the courts of England and Wales have jurisdiction. If you are a Consumer living in Scotland or Northern Ireland, you may also bring proceedings in your local courts, and mandatory consumer protections of your home country still apply.

20.1 Email [email protected] or write to BDPO Ltd, 60 Tottenham Court Road, Suite 5994a, Fitzrovia, London, W1T 2EW, United Kingdom. Please include your account email and, where relevant, the Listing name.