Terms & Conditions of Use

• Torian provides only content, information, analysis, intelligence, forecasts and projections about various markets.
• Torian is NOT a financial institution, securities broker, crypto exchange, payment institution, asset manager, distributor, portfolio manager, securities advisor, sportsbook or prediction-market operator.
• Torian does NOT custody funds, does NOT execute orders, does NOT manage third-party portfolios and does NOT intermediate financial transactions.
• Torian does NOT offer personalised advice, personalised investment recommendation, securities analysis or any activity subject to the CVM, the Brazilian Central Bank or any other regulator.

• All content is exclusively informational, educational and analytical.
• Forecasts reflect probabilistic estimates based on available models and data, subject to uncertainty, error, revision and obsolescence.
• Past, simulated or projected results do not guarantee future results — under any circumstance.
• Models and methodologies may contain flaws, statistical limitations, biases or wrong assumptions and may stop reflecting market reality at any time.
• Unforeseen events, regulatory changes, government intervention, fraud in data sources, geopolitical events or market shocks may invalidate previously published forecasts.

• Torian does not know each User's financial, asset, tax or personal situation and therefore cannot offer personalised advice.
• Every financial, investment or betting decision is the sole and full responsibility of the User.
• The User must critically evaluate the content, consider their own risk profile and, if appropriate, consult a qualified professional.
• The User declares that they have the capacity, knowledge and experience to understand and accept the risks involved in financial markets, prediction markets and crypto.

Financial markets, prediction markets, crypto assets and related activities involve high risk and may result in partial or total loss of capital. Risks include extreme volatility, liquidity risk, counterparty risk, regulatory risk, operational risk, fraud risk on third-party platforms, hacking risk, technological risk and unforeseen events.

To fully use the services, the User must create an Account providing true, complete, current and accurate information. Minimum requirements:

• Be at least 18 years old.
• Have full civil capacity to contract.
• Provide valid and verifiable personal data.
• Accept these Terms, the Privacy Policy and the Cookie Policy in full.

Legal entities may register through an authorised legal representative who will be jointly liable for compliance with these Terms.

• Create a strong, unique password not reused elsewhere.
• Enable multi-factor authentication (MFA) when available.
• Do not share credentials with third parties under any circumstance.
• Immediately notify Torian of any unauthorised use, loss, theft or compromise of the Account.

Torian is not liable for losses arising from misuse of the Account by third parties due to User negligence in keeping their credentials safe.

The User guarantees that the information provided is true, complete and up-to-date and commits to keeping it that way. Torian may request supporting documents at any time and may suspend or cancel the Account in case of false or fraudulent data.

Each User may hold only one active Account. The Account is personal, individual and non-transferable — assignment, lending, leasing, commercialisation or sharing with third parties is forbidden.

Torian may, at its discretion, create, modify, update, suspend or discontinue services, features, modules, content or plans, in whole or in part, with or without prior notice. When discontinuation materially affects an active Subscriber, Torian will use reasonable efforts to give advance notice and, where appropriate, refund amounts paid for periods not yet enjoyed proportionally.

Torian offers different subscription plans with features, frequency and prices described on the plans page. Current prices are those published at the time of contracting. Torian may offer discounts, promotions, coupons and trial periods subject to specific rules.

Payment may be made via credit or debit card, PIX, bank slip, direct debit or other available means. Processing is handled by licensed payment partners (PSPs), to whom their own terms apply.

Unless expressly cancelled by the User before the renewal date, subscriptions renew automatically at the end of each cycle for the same originally contracted term at the current price. Torian will notify the User in advance of material changes to the renewal price.

Prices may be adjusted annually by an official inflation index (preferably Brazil's IPCA/IBGE) or another reasonable criterion, in line with applicable laws. Adjustments will be communicated with at least 30 days' notice.

On payment failure, Torian may retry for a reasonable period and, if non-payment persists, suspend access to premium services until regularisation. Persistent non-payment for more than 30 days may lead to Account cancellation and debt collection.

Advertised prices include applicable taxes, except where expressly stated otherwise. New taxes or rate changes may be passed through as allowed by law.

A consumer User who contracted services outside a brick-and-mortar establishment (including online) has the right to withdraw within 7 calendar days from contracting or first access to the content — whichever is later — and receive a full refund.

To exercise the right of withdrawal, send an unequivocal statement through the channels in Section 18 within the legal period.

The User may cancel at any time through the “My Account” area or through official support channels. Effects of cancellation:

• Monthly subscriptions: access remains active until the end of the cycle already paid; auto-renewal is halted.
• Pre-paid plans longer than one month: access remains active until the end of the paid period without a proportional refund, except where a more favourable rule applies under the CDC or a specific promotional campaign.

Torian may suspend or cancel the Account, with or without prior notice, in the following cases:

• Breach of these Terms, the Privacy Policy or applicable law.
• Persistent non-payment.
• Fraudulent, abusive or improper use of the services.
• Attempts to compromise the security or availability of the Platform.
• Sharing of credentials or content redistribution.
• Judicial, regulatory or administrative order.
• Service discontinuation (Clause 5.5).

In cases of cancellation for breach, Torian may withhold amounts owed and pursue legal remedies.

Content is licensed to the User on a personal, non-exclusive, non-transferable, revocable basis limited to the duration of the Subscription — exclusively for individual, household, non-commercial use.

• Reproducing, redistributing, retransmitting, publishing, commercialising, assigning or providing to third parties, in whole or in part, any Torian content.
• Sharing access credentials with third parties.
• Using the Platform for commercial, professional or business purposes not expressly authorised in writing.
• Reverse engineering, decompiling, disassembling or attempting to obtain the source code.
• Using bots, scrapers, crawlers, spiders, scripts or automated tools to collect content, except with express written authorisation.
• Overloading, damaging or compromising the operation, security or experience of the Platform or other Users.
• Introducing viruses, malware, malicious code or exploits.
• Engaging in social engineering, phishing or other fraudulent conduct.
• Using the Platform for any illegal, criminal or immoral act.
• Using Torian content to train, fine-tune or calibrate AI models, neural networks or language models, except with specific written authorisation.
• Circumventing technical protection, access control, watermarking, geofencing or usage-limit mechanisms.
• Creating more than one Account, creating an Account with a false identity or impersonating another person.

Torian may, but is not obliged to, monitor use of the Platform to identify breaches. Absence of monitoring in a given case does not waive Torian's right to do so in others.

All intellectual property rights relating to the Platform and the services — trademarks, trade name, logos, layout, design, source code, object code, databases, algorithms, models, methodologies, texts, articles, reports, analyses, forecasts, charts, images, audio, video and infographics — are exclusively owned by Torian or its licensors, protected by Brazilian Laws 9.610/1998, 9.279/1996, 9.609/1998 and international treaties.

Nothing in these Terms transfers any intellectual property right to the User, except the limited licence in Clause 8.1.

Torian's trademarks, trade names, logos and other distinctive signs may not be used without prior, express, written authorisation.

By publishing User Content, the User declares to be the rightful owner or to have the necessary authorisations and grants Torian a non-exclusive, worldwide, royalty-free, irrevocable, transferable and sublicensable licence, for the legal protection term, to use, reproduce, adapt, translate, publish, distribute and disclose such content, in any medium, for operation, promotion and improvement of the services.

The User is fully responsible for User Content and holds Torian harmless against any claims, demands, losses or damages arising from it.

Notices of alleged infringement may be sent to the channels in Section 18 with a detailed description of the disputed material and the right allegedly violated.

The services are provided “as is” and “as available”, to the maximum extent permitted by law. Torian does not guarantee:

• Accuracy or usefulness of forecasts, projections or analyses.
• Uninterrupted availability, free of errors or downtime.
• Absence of bugs, viruses or harmful elements, though we adopt reasonable security measures.
• Compatibility with all devices, systems or browsers.
• That the services will meet the User's specific expectations, goals or returns.

• Financial, investment or betting decisions taken by the User based on the content.
• Asset losses, damages, lost profits, direct, indirect, special, incidental or consequential damages.
• Results obtained by the User on third-party platforms (brokers, exchanges, prediction markets).
• Acts, omissions, failures, fraud, hacks, bankruptcies or discontinuation of third-party platforms.
• Volatility, market shocks, macroeconomic events, regulatory or geopolitical changes.

Nothing in these Terms excludes or limits Torian's liability for wilful misconduct, fraud, gross negligence or in cases where such exclusion is forbidden by applicable law, especially by Brazil's Consumer Defense Code.

Torian is not liable for failures, delays or unavailability caused by force majeure, third-party acts, cyberattacks, infrastructure failures, government decisions, pandemics, armed conflicts or events beyond its reasonable control.