The derivatives transaction services provided by the Webpage for the Transaction Platform of Contract are highly leveraged and risky, so the users need to agree to this Agreement when opening the highly leveraged derivatives transaction. This behavior also represents the users' full knowledge and understanding of the risks of digital asset derivatives transaction of Contract Trading Platform.
This Risk Reminder aims to reveal the investors about the highly leveraged investment risks of digital asset derivatives transaction and to help investors assess and determine their own capabilities. In view of the existence of investment risks, investors shall carefully read this Risk Reminder before confirming this Agreement and conducting the Contract Transactions, make sure to understand the nature and rules of the Contract Transactions, and decide whether to participate in the Contract Transactions on their own according to their own investment experience, objectives, financial status and risk-taking ability.
Investors shall consult the law and other independent professional advice before applying for highly leveraged contract transactions.
2. Competent Investors
The derivatives transaction of digital asset is highly leveraged and risky, only suitable for professional investment institutions or experienced investors, or those who can fully understand all risks related to the derivatives transaction of digital asset and can assume some or all losses of account funds due to investment mistakes.
3. Existing Risks
3.1 Risk of Price Fluctuation
As special products with investment value, digital currencies’ and their derivatives’prices are affected by many factors ( including but not limited to value risk of token assets itself, exchange rate risk of USDT against fiat currencies). The great price fluctuations make it difficult for investors to comprehensively grasp the actual operation. Therefore, there is the possibility of investment mistakes. If the risk cannot be effectively controlled, the investors may suffer great losses, and shall assume all the losses caused by this on their own.
Risk of exchange rate fluctuations between USDT and fiat currencies:
- Large fluctuations in the exchange rate between USDT and fiat currencies will cause the underlying price of USDT contracts to deviate significantly from the fiat currency price, i.e., the profit and loss of the user's USDT contract position will fluctuate significantly against the value of the U.S. dollar, and users shall assume the losses caused by this on their own.
- Large fluctuations in the exchange rate between USDT and fiat currencies will result in significant fluctuations in the value of USDT token in your account against fiat currencies, i.e. there is a loss in the value of USDT held by the user against fiat currencies, and users shall assume all the losses caused by this on their own.
- If there are extreme and unreasonable fluctuations in the exchange rate between USDT and fiat currencies, which results in systematic risks with an industry-wide impact, users shall assume all the losses caused by this on their own. Nonetheless, the platform reserves the right to implement salvage measures including but not limited to price snapshot rollback and socialized loss system to protect users' assets as much as possible.
3.2 Transaction Risk
(1) Investors need to understand that derivatives transaction has the characteristics of high leverage, which may lead to rapid profits or losses. If the direction of the transaction is opposite to the fluctuation of the market, it may cause a large loss. According to the amount of the loss, investors need to add digital currency margin or reduce positions, otherwise the positions taken by them may be forced to liquidate, and investors shall assume all the losses caused by this.
(2) In the exchange transaction system, once it clinch a deal of the limit order submitted, that is irrevocable, and the investor shall accept the risks that may caused by this way.
(3) The Exchange shall not guarantee investors' profits and shall not share profits or risks with investors.
3.3 Risks of Policy Supervision
The derivatives transaction of digital asset may face policy regulatory risks in certain jurisdictions. Investors need to make a careful judgment on the premise of understanding the policy regulatory background of the transaction region in advance.
3.4Execution & Network Risk
Although the Bingbon trading platform is automated and the platform provides you with the best execution conditions, the market price may change between order placement and execution time. Therefore, the platform cannot guarantee that the requested price is the same as the order execution price. The price may be beneficial to you or against you.
In addition, there are certain risks associated with using online execution and trading systems, including but not limited to software and hardware failures and network disconnections.
When you trade on the Bingbon website/or app, an error may occur. You should be aware of the risks that any system failure can cause, which may mean that your order may be delayed or submitted.
You acknowledge that there are risks associated with using the Internet Trading System, including but not limited to hardware failures, software failures and network connectivity issues, malicious plug-in risks, potential vendors' illegal access to information, and/or assets stored on your behalf (including on your behalf). Your cryptocurrency), cyber attack, cryptocurrency network failure (such as blockchain), computer virus, communication midrange, crack, error, or when you use the transaction service because your computer or other device is spyware , intimidating software, Trojans, worms, or other malicious software that causes errors or delays, or encounters any type of phishing attack, fraud, or other attack.
3.5 the transaction
Bingbon provides copy trading capabilities. When deciding to follow one or more traders and/or implement a specific strategy, you must consider your overall financial situation, including financial planning, and understand that using the copy trading feature is highly speculative and you may be able to withstand A larger loss than the amount used for the trader. The risks associated with copying trading functions include, but are not limited to, automated trading operations, where your account can begin and close without your manual intervention.
- Automatic trading execution and other related trading operations can complete the opening and closing transactions in your account without your manual work;
- Bingbon Investment Management Services are at your discretion and you may decide to follow a specific trader or multiple traders and/or follow specific trading strategies. In making these decisions, you have considered your overall financial situation, including financial planning, and understand that using the Copy Trading feature is highly speculative, and you may incur losses that are more than the amount used to track the trader. Still much bigger;
- The copy trading function we provide is for reference only. The employees and agents of Bingbon and its affiliates are not investment or financial advisors. If you make an investment decision based on the information provided on our website or through the information obtained through the copy trading function, you do so at your own risk and Bingbon and its affiliates, its employees and agents do not bear any losses;
- You should make your own investment decisions. You should independently determine whether your investment, strategy, or any other products and services meet your needs based on your investment objectives and personal and financial status;
- If you make other transactions on your own or modify or cancel the instructions generated by the Copy Trading function, the assets of your account may be significantly different from the users you are following. Withdrawals and withdrawals from the documentary object may also result in differences in the performance of the two accounts as these may affect the ratio of the order transactions;
- Our past performance, risk profile, statistics and all information displayed on our website and applications about this user do not represent future performance and should be considered a hypothetical situation;
- Past performance and/or risk ratio should be considered as a hypothetical performance. Suppose there are many inherent limitations in performance. No representation or warranty is made that any account will or may be able to obtain a gain or loss similar to past performance or the displayed risk rate. The actual income/loss percentage for each investor may vary, depending on a number of factors, including but not limited to: account balance (deposit and withdrawal) at the time of the transaction, market behavior, investor account setup, and documentary The actual performance of the object.
4. Other Possible Risks
(1) When the users use high leverage, it may bring greater risks to the users to maintain the market stability, the Webpage may monitor the positions of the users with high leverage. When the Webpage judges that the positions of users may have a great impact on the market stability, it will take corresponding measures, including but not limited to communication, revealing risks, forced underweight, forced liquidation and so on, and it will give the users written explanations.
(2) The derivatives transaction rules of the digital asset derivatives market, including but not limited to the adjustment coefficient, due date, product rules and others, can be modified according to the actual operation of the Webpage. If the Webpage needs to deliver products ahead of schedule or later due to special circumstances, the user shall handle the position in time after the official website performs the notification obligation through official website announcement or SMS notification, the users shall assume all possible losses or profits arising therefrom on their own.
(3) Any opinions, news, research, analysis, prices or other information provided on this website are general market comments and do not constitute investment advice. Bingbon is not responsible for any damages resulting from investments made in connection with any advice, forecasts or other information provided.
1. Investors must thoroughly understand the basic knowledge and related risks of digital currency contract transactions and the business rules related to participation in derivatives exchanges before participating.
- The risk warnings mentioned above are only enumerative in nature. They fail to provide a detailed list of all risk factors related to digital asset derivatives trading. Investors should also seriously consider other possible risks before investing in digital asset derivatives trading. The factors are understood and mastered.
- The platform's sincere hopes and suggestions for investors, starting from their own actual conditions such as risk tolerance, prudently decide whether to participate in this contract transaction and reasonably configure their digital assets.
- Bingbon respects all laws in all countries for blockchain cryptographic digital assets. The services shown on this page are not open to residents of the following countries: Afghanistan, Burundi, Belarus, Central African Republic, Congo, China, Ethiopia Asia, Guinea, Guinea Bissau, Iraq, Iran, Democratic People's Republic of Korea, Lebanon, Sri Lanka, Libya, Serbia, Sudan, Somalia, South Sudan, Syrian Arab Republic, Thailand, Tunisia, Trinidad Tobago, Ukraine, Uganda, United States, Venezuela, Yemen, Zimbabwe, Cuba, United States (including all United States territories such as Puerto Rico, American Samoa, Guam). This list of excluded countries may vary and may vary by service.