Privacy Policy

These terms of use (“Terms of Use”) outline the conditions for accessing and utilizing the services provided on the Algorooms website as well as such other domains, sub-domains, mobile applications, or platforms (hereinafter collectively referred to as “Platform”) that is owned and/or operated and/or may be owned and/or may be operated by Reykle India Pvt. Ltd. (“Company” or “Us” or “We”). It is imperative to note that the Privacy Policy should be read in conjunction with the present Terms of Use and Risk Disclosure Document.

These Terms of Use are a legally binding and enforceable agreement between the Company and the users of the Platform, whether accessing the Platform with or without registration. These terms govern usage of the Platform and any associated services accessible through the Platform.

The use of the Platform by the user in any manner including but not limited to accessing, viewing and/or browsing the Platform or any part thereof or registering for and/or using any services, amounts to acceptance of these Terms of Use.

The user by accepting these Terms of Use, in any manner including but not limited to accessing, viewing and/or browsing the Platform or any part thereof or registering for and/or using any services, represents that the user is competent to enter into an agreement with the Company under applicable laws or that the user has the authorization and/or legal authority to enter into such an agreement with the Company under applicable laws. In case it is found that the user was not competent to enter into an agreement with the Company or did not have the authorization and/or legal authority to enter into such an agreement, the Company reserves the right to seek such legal remedy as available in law.

The Company reserves the right to update or amend these Terms of Use periodically by posting such updates or amendments on the Platform. Use of the Platform after such update or amendment has been posted on the Platform would imply the acceptance of such changes by the user and shall be binding on them from the date such update or amendment has been posted on the Platform.

Unless otherwise specified, the Company grants the user a non-exclusive and non-transferable limited right and license to access the Platform.

The Company only provides tools, data and infrastructure to enable the user to create, test and deploy his/her/its own strategies and systematic trading strategies. In this regard, the nature of services is hereby clarified:

Testing: The Company provides tools, data and infrastructure to the user to create a real-time simulation environment and allow the user to test the hypothetical behaviour of his/her/its strategy. The Company provides data feed with a delay of one minute with randomized slippages in order to provide as accurate results as possible. The Platform provides tools, data and infrastructure to the users to test his/her/its strategies using historical market data to obtain hypothetical results in a simulated environment, which may differ from the result if tested on a real-time basis. However, due to the dynamic nature of the securities market, the Company cannot guarantee the accuracy of the output of the tests undertaken in simulated environment all the time.

Live Trading: The user deploys his/her/its trading strategies using the Platform through his/her/its brokerage account held with his/her/its stockbroker in an automated manner based on the terms and conditions determined by the user themselves. It is clarified that the Company does not provide any trading strategy or investment advice or research report and only offers tools, data and infrastructure to the user to create, customize and deploy his/her/its strategies based on his/her/its requirement. In order to deploy trading strategies for live trading, the user must have a trading and demat account with one of the stockbrokers supported on the Platform and must access the Platform and the demat account by himself/herself/itself. Further, the user must activate the strategy it wants to deploy by clicking on “Activate”. The user by clicking on “Activate” provides its explicit consent to the Platform to place orders and take trades on behalf of the user for the day. The Platform only places the order and takes trades based on the strategy deployed by the user and does not check the suitability of the strategy for a particular user which may vary. Further, the Platform neither manually interferes with the strategy deployed nor accesses or obtains data of the user other than those necessary for deploying the strategy.

The services offered on the Platform are intended for the personal use of the user only, subject to his/her/its compliance with the provisions of this Terms of Use.

The Company may provide sample strategies for illustrative purposes. Such sample strategies shall be extremely basic (e.g. short at-the-money straddle with stop-losses) and shall be readily available in any basic trading book, tutorials or any material of similar nature available in the public domain and shall be made available to the user for the sole purpose of explaining the functionality of the Platform and how to use them. The user shall be solely responsible for any profits or losses resulting from deploying such sample strategies for live trading and the Platform neither promotes nor recommends any such sample strategy.

The user can sign up to the Platform using his/her/its name, phone number and password. Additional information may be sought for ease and efficiency of usage of the Platform. Further, the user can log in to the Platform using the phone number and password. The user is required to provide accurate and up-to-date personal information as prompted by the registration form and any failure of the user to provide the same accurately would make the user solely responsible for such incorrect information.

The user can use the Platform to directly deploy his/her/its trading strategies in his/her/its demat account upon such integration through logging into the demat account with the stockbroker. In this regard, it is clarified that the Company or the Platform does not store login details of the user with such stockbrokers in any form or manner. Further, the Company does not have access to any of the passwords and/or One Time Passwords that the user may be required to provide while using the platform of the stockbroker or any password that the user may be required to provide while using the Platform. This shall include the password of the user to access his/her/its account on the Platform and the demat account. The Platform only receives the information with respect to the orders and trades undertaken by the user deploying his/her/its strategy, only after the user has linked their demat account with the Platform. These orders and trade details are provided by the stockbroker when the session is active and the Platform does not have access to the login details of the user.

The user is solely responsible for all the activities in his/her/its account, whether by them individually or by anyone else. The user shall be liable for any loss incurred by the Company or any other person due to unauthorized or reckless use of his/her/its account. Further, the Company shall not be liable for any losses incurred by the user from the use of his/her/its account by another person, whether with or without their knowledge.

The user shall immediately inform the Company upon becoming aware of any unauthorized account usage or security breach. Upon such intimation, the Company shall take all reasonable steps to restrict such unauthorized account usage or security breach. However, any loss suffered by the user due to such unauthorized account usage or security breach or action taken by the Company to remedy same shall be borne by the user alone and the Company shall not be held liable for the same.

Any data stored by the Platform is governed by the Privacy Policy of the Company and this section should be read in conjunction with the Privacy Policy of the Company.

The term “Shared Content” shall mean complete or partial strategies, trading strategies, data transformations, data analysis, manipulation functions, tools, software, data, databases, text, messages, images, graphics, video files, audio files, ideas or any other information and materials that the Company, the user or any other person post on the Platform or such other platform, including websites, social media platforms, social media groups, forums, direct messaging services or channel of similar nature. This shall include any content provided by the Company to the user during the use of the Platform by the user.

With respect to Shared Content, unless expressly provided in this Terms of Use, the user acknowledges and agrees that he/she/it shall not:

Copy, modify, publish, transmit, distribute, transfer, sell, create derivative works of or in any way exploit any content accessible through the Platform or provided by the Company that was not submitted or provided by the user. This includes the use of any automated data gathering or extraction tools, programs, scripts, deep links or other similar mechanisms, unless the user obtains prior written consent from the Company.

Use the Platform or its content, directly or indirectly, to advertise, market, sell or otherwise promote any commercial enterprise, directly or indirectly.

Share any document provided by the Company evidencing the strategy logic created by the users while using the Platform without obtaining prior written consent from the Company.

Share or use any third-party data in violation of the Terms of Use for sharing such data as agreed by the user and the third party. Further, in case of any violation of the Terms of Use of such third-party data no liability can be imputed on the Company and dispute, if any, shall be between the user and such third-party.

The user shall not use any third-party services, software, mechanisms, tools, plugins, code injections, software, tools, agents or devices to navigate or search the Platform, except for the search engines and agents available through the Platform and standard third-party web browsers.

The user shall not copy, reverse engineer, reverse assemble, attempt to discover the source code, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer or sell any information, software, products or services obtained through the Platform or its services.

The user shall not access the Platform or use the services provided by the Company through any means other than those provided or approved by the Company.

The user shall not transmit content that is unlawful, harmful, threatening, abusive, harassing, tortious, defamatory, vulgar, obscene, libelous or otherwise objectionable or that infringes, violates or misappropriates any patent, trademark, service mark, trade secret, copyright or other proprietary rights of a third party that may invade another person’s right, including the right to privacy. The user shall not post or transmit any material that contains a virus, worm, Trojan horse, or any other contaminating or destructive feature that would affect the functioning and/or accessibility of the Platform.

The user shall not post or transmit information protected by law, agreement or fiduciary relationship, including but not limited to proprietary or confidential information of others. The user shall not post or transmit unsolicited advertising, promotional materials, junk mail, spam, chain letters, pyramid schemes or any other form of solicitation material.

The user shall not use the Platform with the intention of violating any applicable local, state, national or international law, including regulations under any such law.

The user shall not register, subscribe, attempt to register, attempt to subscribe, unsubscribe or attempt to unsubscribe any party for any product or service of the Company if such user is not expressly authorized by such party to do so.

The user shall not harass, threaten, abuse, impersonate, intimidate or impersonate any other person or entity, including any official or employee of the Company.

The user shall not collect, store, or collect personal data about other users without their express permission.

The user shall not promote or provide instructions on illegal activities or the violation of another person’s rights, including privacy.

The user shall not manipulate or alter the Platform’s source code, exploit, or attempt to exploit bugs, vulnerabilities, or any other security issues in the Platform.

The user shall not use the Platform to engage in any activity that would disrupt, interfere with, or inhibit other users from using the Platform, or which would compromise the security, integrity, or operation of the Platform, or any associated computer system or network.

The user shall not attempt to gain unauthorized access to the Platform, or any associated computer system or network.

The user shall not use any robot, spider, scraper, or other automated means to access the Platform for any purpose without the prior express written permission of the Company. The user shall not access or use the Platform in a manner that could damage, disable, overburden, or impair the Platform or any associated computer system or network. The user shall not impersonate any person or entity, or falsely state or otherwise misrepresent himself/herself/itself, their age, or their affiliation with any person or entity. The user shall not interfere with or disrupt the Platform or servers or networks connected to the Platform, or disobey any requirements, procedures, policies, or regulations of networks connected to the Platform.

The user shall not collect or store personal data about other users or subscribers or otherwise access the Platform in a manner inconsistent with its Privacy Policy. The user shall not use the Platform to publish, post, or distribute any information that is obscene, indecent, libelous, defamatory, offensive, discriminatory, hateful, threatening, abusive, or otherwise objectionable.

The user shall not use the Platform to transmit unsolicited or unauthorized advertising, promotional materials, junk mail, spam, chain letters, or any other form of solicitation. The user shall not use the Platform to engage in any activity that would disrupt, interfere with, or inhibit other users from using the Platform or any associated computer system or network. The user shall not use the Platform to gain unauthorized access to any other user’s account or personal data.

The user shall not use the Platform to harvest or otherwise collect information about other users for the purpose of sending, facilitating, or encouraging unsolicited bulk email, junk mail, spam, chain letters, or any other form of solicitation. The user shall not use the Platform to engage in any activity that violates the rights of any other person or entity or that infringes on the intellectual property rights of any other person or entity. The user shall not use the Platform to engage in any activity that is illegal, fraudulent, or otherwise prohibited by law.

The user shall not use the Platform to engage in any activity that is harmful, threatening, abusive, harassing, tortious, defamatory, vulgar, obscene, libelous, invasive of another’s privacy, hateful, or racially, ethnically, or otherwise objectionable. The user shall not use the Platform to engage in any activity that is harmful to minors in any way. The user shall not use the Platform to engage in any activity that constitutes or encourages conduct that would constitute a criminal offense, give rise to civil liability, or otherwise violate any applicable law.

The user shall not use the Platform to engage in any activity that is harmful to the reputation, goodwill, or commercial interests of the Company or any of its affiliates. The user shall not use the Platform to engage in any activity that interferes with the normal operation of the Platform or any associated computer system or network. The user shall not use the Platform to engage in any activity that circumvents or disables any security or access control measures implemented by the Company or any of its affiliates. The user shall not use the Platform to engage in any activity that impersonates any person or entity or otherwise misrepresents the user’s affiliation with any person or entity. The user shall not use the Platform to engage in any activity that is illegal, fraudulent, or otherwise prohibited by law.

The user shall not use the Platform to engage in any activity that violates the rights of any other person or entity or that infringes on the intellectual property rights of any other person or entity. The user shall not use the Platform to engage in any activity that is harmful, threatening, abusive, harassing, tortious, defamatory, vulgar, obscene, libelous, invasive of another’s privacy, hateful, or racially, ethnically, or otherwise objectionable. The user shall not use the Platform to engage in any activity that is harmful to minors in any way. The user shall not use the Platform to engage in any activity that constitutes or encourages conduct that would constitute a criminal offense, give rise to civil liability, or otherwise violate any applicable law.

The user shall not use the Platform to engage in any activity that is harmful to the reputation, goodwill, or commercial interests of the Company or any of its affiliates. The user shall not use the Platform to engage in any activity that interferes with the normal operation of the Platform or any associated computer system or network. The user shall not use the Platform to engage in any activity that circumvents or disables any security or access control measures implemented by the Company or any of its affiliates. The user shall not use the Platform to engage in any activity that impersonates any person or entity or otherwise misrepresents the user’s affiliation with any person or entity. Violations of these Prohibited Activities may result in termination or suspension of the user’s access to the Platform, as well as other legal consequences.

The user agrees to indemnify and hold harmless the Company and its affiliates, officers, directors, employees, agents, licensors, suppliers, and any third-party information providers from and against all claims, losses, expenses, damages, and costs, including attorneys’ fees, arising out of or resulting from any violation of these Terms of Use, any violation of the rights of any other person or entity, or any violation of any applicable law or regulation. This indemnification provision shall apply to the fullest extent permitted by law.

Termination The Company reserves the right to terminate or suspend the user’s access to the Platform at any time and for any reason, with or without cause, without prior notice to the user. Upon termination or suspension of the user’s access to the Platform, all rights granted to the user under these Terms of Use shall cease immediately, and the user shall immediately cease all use of the Platform. Upon termination or suspension of the user’s access to the Platform, the Company may delete or remove any and all information, data, content, or materials posted by the user on the Platform. The Company shall have no liability for any loss or damage caused by the deletion or removal of such information, data, content, or materials. Upon termination or suspension of the user’s access to the Platform, all provisions of these Terms of Use that by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity, and limitations of liability.

These Terms of Use shall be governed by and construed in accordance with the laws of India, without regard to its conflict of law provisions. Any disputes arising out of or relating to these Terms of Use shall be subject to the exclusive jurisdiction of the courts located in Gurugram, India.

The Company reserves the right to change, modify, add, or remove any portion of these Terms of Use at any time and for any reason, with or without cause, without prior notice to the user. Such changes, modifications, additions, or removals shall be effective immediately upon posting on the Platform. The user’s continued use of the Platform following the posting of changes to these Terms of Use will constitute the user’s acceptance of those changes.

These Terms of Use constitute the entire agreement between the user and the Company with respect to the subject matter hereof and supersede all prior agreements and understandings, whether written or oral, relating to such subject matter.

If any provision of these Terms of Use is found by a court of competent jurisdiction to be invalid, illegal, or unenforceable, such provision shall be enforced to the fullest extent permitted by law, and the validity, legality, and enforceability of the remaining provisions shall not be affected thereby.

No waiver of any term or condition of these Terms of Use shall be deemed a further or continuing waiver of such term or condition or any other term or condition, and the Company’s failure to assert any right or provision under these Terms of Use shall not constitute a waiver of such right or provision.

The user may not assign or transfer any of the user’s rights or obligations under these Terms of Use without the prior written consent of the Company.

The Company may assign or transfer any of its rights or obligations under these Terms of Use without restriction.

The user acknowledges and agrees that the Company may provide notices to the user by posting such notices on the Platform or by sending such notices to the user via email or other means of communication.

The user agrees that any dispute arising out of or relating to these Terms of Use shall be resolved exclusively by arbitration in accordance with the Arbitration and Conciliation Act, 1996 and shall be held in Mumbai, India. The language of the arbitration shall be English.

The services of the Platform are not available to the user who has been suspended or removed by the Company for any reason. The user must confirm that he / she / it has not been barred by applicable laws from receiving services from the Platform or utilizing the services provided by the Platform. Further, the user must ensure that he / she / it is allowed to use broker services and participate in the markets under applicable laws and other local laws applicable to the user, and the user agrees to comply with the policies of the Stock Exchanges / Stockbrokers as well as other applicable laws and other local laws while availing the services.

The Company can refuse access to the Platform for a new user or terminate access for an existing user without providing reasons.

The user is allowed to have only one active account on the Platform. Selling, trading, transferring his / her / its account to another party, or impersonating someone else to create an account is prohibited. In case the Company becomes aware that the user has created multiple accounts, sold, transferred, or impersonated another person to access the Platform, the Company shall have the right to initiate any action against such user which it deems fit including terminating access to the account without any refund of the fees paid by the user.

The user is directed to carefully review the Terms of Use before accessing the site or utilizing any of the services. If the user does not agree to the Terms of Use or cannot comply with them, he / she / it may not access the site or use any of the services and should cease access and usage immediately.

The user and the Company hereby agree that they intend to discharge their obligations in utmost good faith. The user and the Company therefore agree that they will, at all times, act in good faith, and make all attempts to resolve all differences howsoever arising out of or in connection with this Agreement by discussion failing which, by arbitration.

The user and the Company agree that the discussions shall be held in the spirit of resolution of the issues that have arisen between them with the intention of resolving the issues amicably at the earliest. If either of the parties is not satisfied with the outcome of the discussions, within 30 (thirty) days from the receipt of the response, it shall resort to arbitration.

The user and the Company shall be bound to submit all disputes and differences howsoever arising out of or in connection with this. The Arbitration shall be held before 1 (one) arbitrator of exemplary qualifications and stature, who shall be selected jointly by the user and the Company, or, if the user and the Company cannot agree on the selection of the arbitrator, shall be selected in accordance with the Arbitration and Conciliation Act, 1996. The arbitration shall in all be conducted in accordance with the provisions of the Arbitration and Conciliation Act, 1996.

The arbitrator shall be a person of professional repute who is not directly or indirectly connected with either the user or the Company and has prior experience as an arbitrator. The place of arbitration shall be New Delhi. The language to be used in the arbitration proceedings shall be English.

Risks

The risks of using the Platform can be in the form of:

Technological Risks :

Related to the Platform’s software, including programming errors and updates that may impact functionality. Related to the computing and communications infrastructure, including system failures, maintenance interruptions, and software upgrades. Related to the user’s computer system and Internet connectivity, which may fail or perform erratically. Related to errors that may exist in the data used for testing the user’s strategy or the market model applied. Related to services provided by third-party service providers including data providers, computational services providers and network connectivity providers. Related to cyber-attacks and other criminal activities including malfunction or compromise of systems, misappropriation of intellectual property, theft of funds, and erratic behavior in the trading strategies. Related to failure in the deployment of the trading strategies due to failure of the infrastructure of the cloud-based service provided. The Company upon deployment of a strategy by a user books a computation slot for the user in the infrastructure of a third-party cloud service provider. However, the cloud-based computation slot of the user may fail due to numerous reasons including failure of the network or the infrastructure of the said third-party cloud service provider. Related to operational and information security and related cybersecurity incidents. In general, cyber incidents can result from deliberate attacks or unintentional events. Cybersecurity attacks include but are not limited to, gaining unauthorized access to the Platform (e.g., through “hacking” or malicious software coding) for purposes of misappropriating assets or sensitive information, corrupting data, or causing operational disruption. Related to cyber-attacks which may be carried out in a manner that does not require gaining unauthorized access, such as causing denial-of-service attacks on websites (i.e., efforts to make services unavailable to intended users). Cybersecurity incidents affecting the Platform and/or stockbrokers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, including by interference with impediments to undertake transactions; violations of applicable privacy, data security, or other laws; regulatory fines and penalties; reputational damage; reimbursement or other compensation or remediation costs; legal fees; or additional compliance costs.

Strategy-related Risks :

Related to the failure of the strategies to function correctly and comply with applicable rules. Related to trading strategies implemented in software programming code which can contain logical errors and bugs that may lead to strategy malfunctions or erroneous trade suggestions. Related to the user’s failure to comprehensively test any trading strategy before deployment and inability to continually monitor its performance, ensuring it complies with relevant rules. Related to the user’s incorrect understanding of technical indicators that may not work as expected or may contain logical errors in the interpretation of indicators and comparators.

Deployment-related Risks :

Related to differential return due to which the user may incur losses or fail to gain profit, on the strategy as compared to how it performed in various testing undertaken in a simulated environment. Related to differential returns with different data sources. Related to the use of the Platform along with third-party services or software causing malfunctions and unexpected outcomes. Related to variation in factors such as the impact of the strategy’s implementation on the market, real-life variables, execution costs, broker commissions, fees, trading slippage, flash crashes and exchange outages. Related to challenges that were not present during testing undertaken in a simulated environment, including disallowed or rejected orders due to margin requirements, illiquid stocks, and other issues or adverse market conditions like lack of liquidity, abrupt price swings, late market openings, early closings, market chaos, and mid-day trading pauses. Related to failure of infrastructure, connectivity and other factors including failure or rejection or incorrect execution of the orders which may or may not be caused due to the information provided by the user. Related to latency within the users’ systems, stockbroker’s system, cloud-provider’s systems and the market resulting in undesirable order placements, cancellations, failures to place orders, or any other unexpected outcome. The occurrence of any of these risks, alone or in combination with others, could result in the loss of all funds deposited in the brokerage account used for live trading based on the strategies created, tested and run by the user on the Platform. Losses can occur more rapidly in live trading while deploying strategies compared to other trading forms. It is essential to discuss the risks of trading, especially strategic/systematic trading with an investment professional. The user deploys any strategy in live trading at his / her / its own risk, and it is the user’s responsibility to thoroughly test and monitor the deployed strategy to ensure it complies with relevant rules. These risks highlight the complexities and uncertainties associated with live strategic/systematic trading and the importance of safeguarding trading strategies and brokerage accounts by the users from potential threats and disruptions.

If the user has any questions about these Terms of Use, the practices of the Company, or the user’s dealings with the Platform, the user may contact the Company at supports@algorooms.com