【User agreement Updates】
Latest Update Time: 2021/06/01 (UTC+8)
Summary of Changes: Supplementary provision
Copy Trading Service Agreement (hereinafter referred to as the "Agreement") is a statutory agreement clause between the Bingbon (hereinafter referred to as the "Platform") and the copy trading service follower or trader (hereinafter referred to as "you"). Please read all the terms of this agreement carefully. If you have become a follower or a trader, it means that you and the platform have reached an agreement, you accept all the terms of this agreement and are bound by the terms of this agreement.
Copy Trader Service Agreement
1. The trader agrees to abide by the platform's restrictions on the functions associated with sharing trading activity, including but not limited to
- Unable to use the Copy Trade functio.
- Relationship with the already-followed traders may be cancelled.
2. The trader agrees to abide by all trading restrictions of the platform with sharing trading activity, including but not limited to
- Leverage limits
- Limits on the number of followers
- Limits on the trading volume of all your followers
- Limits on the trading pair varieties
3. The trader agrees that the platform has the right to adjust the design of the Copy Trading community rules in accordance with the development direction of the community, including but not limited to
- Adjusting the traders‘ public trading information
- Adjusting the percentage of the traders’ profit share or the percentage of the profit share from
- Adjusting the settlement cycle of the traders‘ profit share
- Adjusting the traders' ranking rulesAdjusting the trading fees of Copy Trading orders
- Hide some/all key info. of the copy trades on the follower's position page
4. Traders need to be aware of the following risks.
- Affected by the time-consuming of the system or market factors, there may be situations in which the time and price between traders' order and followers' copy trade is not synchronized.
- The Copy Trading system may enter the maintenance state due to unstable services provided by the network operator, excessive system load, etc.; and sharing trading activity will be unavailable at that time.
Prohibited Items for Traders
- Traders are prohibited from using multiple accounts to get profit shares by sharing trading activity.
- Traders are prohibited from plagiarizing the orders of other traders in any way such as copying other trader's trading strategy.
- Traders are not allowed to explicitly or implicitly disclose social accounts on the platform's personal profile, avatar and other information display places.
- Traders are not allowed to express or imply pornographic or reactionary information in the platform's personal profile, avatar and other information display places.
- Traders are not allowed to conduct ultra-short-term transactions.
Relevant restrictions will be enforced depending on the severity of the cases.
- Reduce the weight of the community rankings
- Reduce your max. trading leverage or the max. trading volume of all your followers
- Disqualification from the copy trader list
- Confiscation of the profit share earned from the violation trading
Special note: The system will detect accounts based on an automatic recognition algorithm. Thus, there may be misjudgments. If you do not agree with the decision of the platform, you can contact Bingbon customer support to appeal.
Follower/Trader Rights and Obligations
a. Users who become followers or traders on the platform must be natural or legal persons who can fully assume legal responsibility.
b. You ensure the personal data (including documents and other relevant information) provided to the platform is authentic and reliable, and the platform will strictly verify and evaluate.
c.If your personal information (such as trading experience, trading strategy, etc.) is insufficient or fails to pass the review, the platform will not allow you to trade.
d. Do not use other people's information (such as name, ID number, phone number, email address), if the information you provide is inaccurate, illegal or invalid, the platform will prohibit you from using the platform's products and services.
e. If your personal information changes or you want to change the account type, you can apply to the platform customer service by submitting a work order, and the platform will process it after reviewing. If you cannot timely inform the platform about the change of personal information, the platform will not be responsible for any loss caused by the change. In order to ensure the accuracy of personal information, please update in time, you can ask the platform to correct or delete information that you think is incorrect.
f. You need to keep the account ID and password of the account yourself, and bear the relevant legal responsibility for trading behavior of the follower or trader account.
g. Please check the relevant terms of the platform's official website carefully, understand the relevant laws and regulations, and bear all the risks of your own trading and copy trading. The platform does not provide any specific investment advice and does not express any relevant opinions.
h. When you post information and use services on the platform website, you must comply with the relevant laws and regulations. Do not maliciously publish or spread bad information that violates laws and regulations and unethical on the website, including text, pictures, audio, video, etc. Do not publish any defamatory and harmful comments that damage the reputation of the platform.
i. Please check your account information regularly and inform the platform of any errors in time. If you have not informed the platform of any errors that have occurred within 72 hours after trades are executed, any losses and damages caused thereby shall be borne by you.
j. The trader's trading strategy description on the platform must be accurate so that followers can follow the investment based on this description. The trader's trading behavior must be consistent with the strategy description. When the actual trading method of the trader is different from the strategy description, the platform will not approve the adoption of this trading strategy. If the trading behavior leads to serious consequences, the platform will take relevant actions to interfere with your trading, such as deactivating the trader account or cutting off the copy trading followers.
k. Traders need to ensure that the trading status is updated in time to allow followers to understand their trading behavior and strategies in time to maintain a good following relationship.
l. Traders are not allowed to conduct malicious operations, including but not limit malicious orders to increase the number of followers or funds, otherwise the platform will revoke the service fees received by them and the trader account may be permanently suspended.
m. If you place an order with a trader or other investors on the platform, there may be a risk of loss. In the case of improper risk control, the entire account may lose money, and the loss is borne solely by the follower.
Platform Rights and Obligations
a. The information you publish on the platform (such as text, pictures, etc., excluding ID cards, bank cards, and personal privacy information), the platform has the right to use the content for other legal channels, such as copying, modifying, adapting, translating, and promoting, analysis, etc.
b. All graphic information on the platform website is for the purpose of disseminating useful information for the public, and does not mean that the platform agrees with its views.
c. The platform will not provide you with any investment advice or express investment-related opinions. You need to think independently and execute trading independently.
d. If the trader's account does not have any trading behavior for more than 2 months, the system will automatically delete the permissions.
e. In order to protect the legal rights of you and the platform, the platform has the right to evaluate your knowledge, experience and adaptability based on the information you provide to the platform. If the platform will not pass the information that is unreliable or inaccurate.
f. Any natural or legal person's unauthorized consent to provide the platform with other people's trading data or related information, the platform is not responsible for any loss caused by this behavior.
g. Trading strategies belong to the trader's intellectual property rights. In order to protect traders' rights and interests and to maintain a fair community environment for all traders, the platform may hide some or all of the key information of your copy trades, which will be displayed within 48 hours after the position is closed.
Online Trading Risk Disclosure
a. If there are trading errors (such as transmission errors, delays, interruptions of network signals, errors caused by the strength of network signals, data errors, and errors caused by the stability of the device connection, etc.) when you are using the network equipment, the direct, indirect, and occasional losses and gains caused by you will be all borne by you, and the platform will not bear any responsibility.
b. If any force majeure incidents (such as system failures in technical incident, delayed update of client terminals, incorrect installation, network connection failures, security loopholes beyond reasonable control, etc.) that occur beyond the control of the platform, the platform will not be responsible for any claims and losses arising from this incident.
c. The platform recommends you use mobile devices for trading or receive data carefully. As mobile devices are restricted by network connections, they may not provide the same functions as when accessing the platform through a web browser. The platform shall not be responsible for any losses, damages, costs or expenses arising from your use of mobile devices, including but not limited to loss of profits, direct, indirect or incidental damages incurred during use.
d.To use the copy trading service, it is necessary to clarify that the platform only provides the copy trading order service, and sends the trader order as synchronized with the trader to the market under the user's authorization to deal with the market counterparty. Limited by reasons such as changes in market conditions, changes in market depth, and time-delayed execution of system instructions, there is no guarantee that the copied orders will have the same opening (closing) price, opening (closing) time, and profit/loss (profit/loss ratio).
Effectiveness, Modification and Termination of the Agreement
a. This agreement will take effect from the moment you become a follower or trader on the platform, until the termination of this agreement and breach of contract. Either party can terminate this agreement at any time. If you need to cancel this agreement, please notify the termination in writing or by mail in advance. After receiving the notice, the platform will notify you in writing or email within 7 working days to clarify the termination of this agreement.
b. In order to maintain the legal rights and interests of the platform and improve this agreement, the platform reserves the right to modify the relevant terms of this agreement and the final interpretation. If you modify the relevant terms of this agreement, the platform will make the necessary specific notice through the official website (or email and other communication means). When you enjoy various services, please check and understand the relevant amendments in a timely manner, and consciously abide by this agreement and related service agreements. Even if the platform revises the trading conditions and any part of the execution rules, you will continue to be bound by this agreement.