Terms of Use

Last updated: September 15, 2026

These Terms of Use (“Terms”) are a binding agreement between you and Marquantex LLC, a California limited liability company (“Marquantex,” “we,” “us,” or “our”). They govern your access to and use of websites, accounts, memberships, tools, research, reports, alerts, model outputs, and other services operated or offered by Marquantex, including Backtested Strategies™ (“BTS”) and backtestedstrategies.com (collectively, the “Services”).

By creating an account, purchasing or renewing a membership, checking a box or taking another action that expressly indicates acceptance, or otherwise using the Services after receiving legally sufficient notice of these Terms, you agree to be bound by them. If you do not agree, do not create an account, purchase a membership, or use the Services.

1) Eligibility and individual accounts

You must have legal capacity to enter into these Terms. Registered accounts and paid memberships are intended for individual natural persons who are at least 18 years old. Unless Marquantex expressly agrees otherwise in writing, an account or membership may not be opened for, transferred to, shared with, or used on behalf of a business, organization, investment club, fund, client group, or other person.

You must provide accurate registration information, keep your account email address current, maintain the confidentiality of your credentials, and promptly notify us of suspected unauthorized access. Your account is for your use only. You are responsible for activity conducted through your account to the extent permitted by law.

2) Memberships, billing, and automatic renewal

Some Services require a paid membership. The price, billing frequency, initial term, renewal period, and any plan-specific terms presented at checkout are part of your purchase. Depending on the plan you select, your membership may automatically renew for successive monthly or annual periods until you cancel.

When you affirmatively accept an automatic-renewal offer and complete checkout, you authorize Marquantex and its payment processor to charge the payment method you provide for the disclosed recurring charges until you cancel, subject to applicable law. We may use third-party payment processors to process membership charges.

Promotional, discounted, or trial offers may have additional terms disclosed with the offer. Taxes may be added where required by law. If a recurring fee or another material automatic-renewal term changes, we will provide any notice and cancellation information required by applicable law before the change takes effect.

3) Cancellation, failed payments, and refunds

You may cancel the automatic renewal of a paid membership through the cancellation method made available in your BTS account or through another method Marquantex is required to provide. Cancellation stops future renewals. Unless applicable law or an express written offer provides otherwise, cancellation does not retroactively reverse charges already incurred, and access continues through the remainder of the period already paid.

Except where required by applicable law or expressly stated in a written offer, payments are non-refundable and we do not provide credits or refunds for partial billing periods, unused access, changes in your trading activity, or failure to use the Services. A payment dispute or chargeback does not itself cancel a membership.

If payment fails, is reversed, or is not authorized, we may retry the charge, suspend paid access, downgrade the account, or terminate the affected membership, subject to applicable law.

4) Service availability and changes

Free Services. Any Service, feature, Content, access level, report, model output, data, or other benefit provided without charge is offered solely at Marquantex’s discretion. To the maximum extent permitted by law, Marquantex may add, remove, restrict, re-tier, place behind a paid membership, replace, suspend, or discontinue any Free Service at any time, with or without notice. Prior or continued free availability does not create a right or entitlement to continued free access, any minimum feature set, or any particular level of service.

Paid Services. Paid membership access is subject to the plan-specific terms presented at checkout and applicable law. Marquantex may add, remove, replace, modify, suspend, or discontinue content, features, data sources, symbols or coverage, access levels, interfaces, alerts, model presentations, labels, methodologies, or other aspects of the Services. Unless Marquantex expressly agrees otherwise in writing, purchase of a paid membership does not guarantee that any particular feature, output, data source, security, report, strategy, model presentation, or membership benefit will remain unchanged or available indefinitely.

No service-level agreement. Unless Marquantex expressly enters into a written service-level agreement, the Services have no guaranteed uptime, publication time, update deadline, data-delivery deadline, alert-delivery time, maximum latency, recovery time, or other service level. UMT and other time-sensitive data or model outputs may be delayed, unavailable, corrected, revised, or published after an intended or customary update window. Any freshness, status, color, timestamp, “Market Close,” “Update Pending,” “Update Required,” or similar indicator is informational only and does not create a service-level commitment, warranty, or guarantee.

We may perform maintenance, respond to security or legal issues, correct errors, change vendors, or temporarily suspend access without liability to the maximum extent permitted by law. Nothing in this section permits us to avoid a remedy that applicable law requires for an existing paid contract.

5) BTS models, signals, and subscriber decisions

The Services may publish standardized, rules-based research and model outputs, including labels such as Buy, Sell, Hold, Scale In, position-size percentages, strength or weakness zones, or similar terminology. Those labels describe the output of BTS models or research. They are not tailored to your personal financial circumstances.

Marquantex does not select a security for you, assess the suitability of a security or strategy for you, obtain your portfolio holdings or brokerage account for purposes of generating individualized recommendations, execute trades, route orders, exercise discretion over an account, or manage your assets. You decide whether, when, and how to act and are solely responsible for your investment and trading decisions, execution, position size, costs, taxes, and results.

The Services are not individualized investment, trading, financial, tax, accounting, or legal advice. Your use of the Services does not create a fiduciary, brokerage, agency, or individualized advisory relationship with Marquantex. Additional securities, performance, and risk disclosures appear in our Legal Disclaimer.

6) Historical and hypothetical performance

Historical backtests, simulations, model results, examples, and performance reports are subject to the assumptions and disclosures presented with the applicable study or report. Hypothetical or simulated results are not actual subscriber account results. Actual trading can differ materially because of execution prices, timing, liquidity, costs, taxes, user decisions, data differences, market conditions, and other factors. Past performance, whether actual or simulated, does not guarantee future results.

Where a report states specific calculation conventions, exclusions, timing generalizations, benchmark treatment, or other assumptions, those report-specific disclosures control the interpretation of that report.

7) Ownership and limited personal-use license

The Services and their content, organization, text, graphics, software, code, models, reports, compilations, displays, research, data presentations, alerts, and outputs (collectively, “Content”) are owned by or licensed to Marquantex and are protected by applicable intellectual-property and other laws. Backtested Strategies™ is a brand of Marquantex LLC. No ownership interest is transferred to you.

Subject to these Terms and your applicable access rights, Marquantex grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license to access and use the Services and Content solely for your own personal, non-commercial purposes. This license does not include any right to receive source code, formulas, thresholds, model logic, APIs, data feeds, bulk downloads, or underlying proprietary methods.

8) Restricted Content and proprietary methods

Content that Marquantex makes available only through an account, membership level, or other access control and does not otherwise publish to the general public (“Restricted Content”) is provided only for the authorized account holder’s personal use. Restricted Content may include proprietary outputs, timing information, model states, reports, historical presentations, alerts, and other nonpublic material.

You may not use Restricted Content or access to the Services to discover, derive, reconstruct, reverse engineer, infer, test for the purpose of reconstruction, or disclose nonpublic formulas, algorithms, thresholds, rules, source code, model logic, generalized-away timing information, or other proprietary methods. Nothing in these Terms grants a license to Marquantex trade secrets or other nonpublic technology.

Incidental copies reasonably necessary for ordinary personal viewing are permitted. Systematic capture, archiving, downloading, screenshotting, extraction, or collection intended to reproduce a material portion of the Services, build a substitute dataset, preserve an ongoing history of Restricted Content, or facilitate redistribution or reconstruction is not permitted.

9) Limited professional-adviser disclosure

You may privately provide a limited excerpt or screenshot of Content to your own attorney, accountant, tax adviser, or financial adviser when reasonably necessary for that professional to advise you personally. This exception does not permit systematic capture, public posting, social-media sharing, group distribution, publication, resale, use for another client, incorporation into a commercial service or dataset, or use to reverse engineer or reconstruct proprietary BTS methods. You remain responsible for your use and disclosure of the Content.

Nothing in these Terms prohibits a disclosure that applicable law validly requires. Where legally permitted and reasonably practicable, you should notify Marquantex before disclosing Restricted Content pursuant to compulsory legal process so that Marquantex may seek appropriate protection.

10) Prohibited conduct

You may not, directly or through another person or system:

  • share, sell, transfer, lend, or otherwise provide your account credentials or membership access to another person;
  • repost, rebroadcast, republish, transmit, syndicate, distribute, sell, sublicense, or commercially exploit Restricted Content or member-only outputs;
  • scrape, crawl, harvest, bulk-download, systematically extract, or automate access to the Services or Content, whether or not the activity imposes an unreasonable technical load;
  • circumvent access controls, paywalls, rate limits, security measures, or membership restrictions;
  • use copied, extracted, or Restricted Content to create or operate a data product, signal or alert service, model, publication, commercial research product, or other substitute or competing service;
  • use Restricted Content to train, fine-tune, benchmark, populate, or supply an artificial-intelligence, machine-learning, or automated data product without our prior written permission;
  • modify, obscure, or remove copyright, trademark, proprietary, or access notices;
  • introduce malware, interfere with the integrity or operation of the Services, probe for vulnerabilities without authorization, or attempt unauthorized access;
  • use the Services in violation of applicable law or the rights of another person; or
  • use the Services to send spam, phishing messages, or other unlawful or unauthorized communications.

These restrictions are directed at misuse of Marquantex access, Content, and proprietary information. They do not prohibit lawful independent activity that does not use or misuse Marquantex Content or nonpublic information. Unauthorized use or disclosure of Restricted Content or proprietary methods may cause harm that monetary damages alone cannot adequately remedy, and Marquantex may seek injunctive or other equitable relief, in addition to any other available remedies, where permitted by law.

11) Suggestions, requests, and feedback

You may submit suggestions, requests, or feedback, but Marquantex has no obligation to respond, implement, test, publish, or compensate you for them. Do not submit information that you are not authorized to disclose.

To the extent permitted by law, you grant Marquantex a perpetual, worldwide, irrevocable, royalty-free, transferable, and sublicensable right to use, reproduce, modify, evaluate, incorporate, and otherwise exploit non-confidential feedback you voluntarily provide, without obligation or compensation to you.

12) Third-party data, services, and links

The Services may depend on or link to third-party market data, hosting, security, analytics, communications, payment, or other providers. Third-party services may be delayed, unavailable, inaccurate, changed, or discontinued. Marquantex does not control third-party services and is not responsible for their separate terms, acts, omissions, availability, or policies to the maximum extent permitted by law.

13) Suspension and termination

Marquantex may suspend, restrict, or terminate access, with or without prior notice where permitted by law, for nonpayment, suspected fraud, credential sharing, unauthorized redistribution, scraping or systematic extraction, attempted circumvention or reverse engineering, security threats, unlawful use, material breach of these Terms, or conduct that reasonably threatens Marquantex, the Services, users, providers, or third parties.

Where Marquantex reasonably determines that a violation is curable without creating material risk, we may provide an opportunity to cure, but we are not required to do so unless applicable law requires it. Termination for your breach does not entitle you to a refund except where required by applicable law.

Sections concerning payment obligations already incurred, ownership, Restricted Content, prohibited conduct, disclaimers, limitation of liability, indemnification, dispute terms, and any provisions that by their nature should survive will survive suspension or termination.

14) Disclaimers

TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE SERVICES AND CONTENT ARE PROVIDED “AS IS” AND “AS AVAILABLE,” WITH ALL FAULTS. MARQUANTEX DISCLAIMS ALL WARRANTIES, EXPRESS, IMPLIED, AND STATUTORY, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, ACCURACY, QUIET ENJOYMENT, AND ANY WARRANTY ARISING FROM COURSE OF DEALING OR USAGE OF TRADE.

MARQUANTEX DOES NOT WARRANT THAT THE SERVICES OR CONTENT WILL BE UNINTERRUPTED, ERROR-FREE, SECURE, COMPLETE, CURRENT, OR FREE OF HARMFUL COMPONENTS; THAT DATA OR MODEL OUTPUTS WILL BE ACCURATE OR AVAILABLE AT A PARTICULAR TIME; THAT AN ALERT WILL BE DELIVERED OR RECEIVED; OR THAT USE OF THE SERVICES WILL PRODUCE ANY PARTICULAR INVESTMENT, TRADING, TAX, OR FINANCIAL RESULT.

15) Limitation of liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, MARQUANTEX AND ITS AFFILIATES, OWNERS, MANAGERS, EMPLOYEES, CONTRACTORS, LICENSORS, AND AGENTS WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES; TRADING OR INVESTMENT LOSSES; LOST PROFITS OR REVENUE; LOST OPPORTUNITY; LOSS OR CORRUPTION OF DATA; LOSS OF GOODWILL; OR DAMAGES ARISING FROM DELAYED, MISSED, OR UNAVAILABLE DATA, OUTPUTS, ALERTS, OR ACCESS, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

TO THE MAXIMUM EXTENT PERMITTED BY LAW, MARQUANTEX’S AGGREGATE LIABILITY FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THE SERVICES, CONTENT, A MEMBERSHIP, OR THESE TERMS WILL NOT EXCEED ONE HUNDRED UNITED STATES DOLLARS (US $100). IF APPLICABLE LAW DOES NOT PERMIT THAT LIMITATION FOR A PARTICULAR CLAIM, MARQUANTEX’S LIABILITY WILL BE LIMITED TO THE LOWEST AMOUNT PERMITTED BY LAW.

Nothing in these Terms excludes or limits responsibility to the extent such exclusion or limitation is prohibited by applicable law.

16) Indemnification

To the maximum extent permitted by law, you agree to defend, indemnify, and hold harmless Marquantex and its affiliates, owners, managers, employees, contractors, licensors, and agents from and against third-party claims, liabilities, damages, judgments, losses, costs, and reasonable attorneys’ fees arising out of or related to your material breach of these Terms, misuse of the Services or Content, unauthorized redistribution or commercial exploitation, infringement or violation of another person’s rights, or unlawful conduct. Marquantex may, at your expense, assume exclusive control of the defense of any matter subject to indemnification, and you agree to cooperate with that defense. You may not settle an indemnified matter in a manner that imposes liability, obligations, restrictions, or admissions on Marquantex or any protected party without Marquantex’s prior written consent.

17) Governing law and forum

These Terms and any dispute arising out of or relating to them, the Services, Content, or a membership are governed by the laws of the State of California, without regard to conflict-of-laws principles, except to the extent federal law controls.

Except where applicable law gives you a non-waivable right to proceed elsewhere, the exclusive forum for any such dispute will be the California state courts located in the City and County of San Francisco, California, or, if federal subject-matter jurisdiction exists, the United States District Court for the Northern District of California. You and Marquantex consent to personal jurisdiction in those courts.

18) Changes to these Terms

Marquantex may amend these Terms prospectively. For non-material changes, we may post an updated version with a revised “Last updated” date. For changes that materially affect existing account holders’ contractual rights or obligations, we will provide notice through the account email address, the Services, or another legally sufficient method before the change takes effect.

After legally sufficient notice, your continued use of the affected Services after the stated effective date constitutes acceptance to the extent permitted by law. If applicable law requires affirmative consent to a particular change, we will seek that consent. If you do not agree to a prospective change, you must stop using the affected Services and cancel future renewal before the change becomes effective. Changes do not retroactively alter a dispute that arose before their effective date unless the parties expressly agree otherwise.

19) Electronic notices

By creating an account or purchasing a membership, you agree that Marquantex may provide contracts, receipts, account notices, renewal or billing notices, legal notices, and other service-related communications electronically, including through your account email address or the Services, to the extent permitted by law. This provision does not enroll you in marketing communications. You are responsible for keeping your account email address current.

20) General terms

You may not assign or transfer these Terms, an account, or a membership without Marquantex’s prior written consent. Marquantex may assign these Terms in connection with a merger, reorganization, sale of assets, change of control, or transfer to an affiliate or successor.

Marquantex will not be liable for delay or failure caused by events beyond its reasonable control, including outages, failures of data or communications providers, acts of government, legal restrictions, cyberattacks not caused by Marquantex’s violation of applicable law, natural disasters, labor disruptions, or market-wide emergencies.

If any provision of these Terms is held invalid or unenforceable, it will be enforced to the maximum extent permitted and the remaining provisions will remain in effect. Failure to enforce a provision is not a waiver. Headings are for convenience only. These Terms, together with plan-specific purchase terms presented at checkout and any terms expressly incorporated by reference, constitute the agreement between you and Marquantex concerning the Services and supersede prior agreements on the same subject.

21) Contact

Questions about these Terms may be submitted through our Contact BTS page.