Terms and Conditions for BitMart Copy Trading Services

Dear BitMart Users:

Welcome to use BitMart Copy Trading Services! By accessing and continued use of the BitMart Copy Trading Services (as defined below) located at https://www.bitmart.com/futures-copy-trading/en-US or such other sites as may be designated by BitMart from time to time, as well as any mobile apps or other related services or applications thereto (collectively, the “Copy Trading Services”), you understand and accept the Terms and Conditions for BitMart Copy Trading Services (this “Agreement”) in addition to other market place rules applicable to all BitMart services. This Agreement is a legally binding contract regarding your use of BitMart Copy Trading Services, and, together with BitMart User Agreement, Privacy Policy, and other marketplace rules (the “General Market Rules”) that may be adopted and published by BitMart from time to time, constitute the entire understanding between you and BitMart.

 

In the event of a conflict between this Agreement and the General Market Rules with respect to use of Copy Trading Services, this Agreement will supersede and control.

 

Please carefully review these terms and conditions in the Agreement as we may change or amend them at any time at our sole and absolute discretion. Any changes to this Agreement will be in effect as of the date referred to at the top of this page. You acknowledge and agree that the form and nature of the Copy Trading Services, and any part of it, may change from time to time without prior notice to you, and that we may add new or remove existing features and change any part of the Copy Trading Services.

 

IF ANY PROVISION OF THIS AGREEMENT ARE UNACCEPTABLE TO YOU, DO NOT USE OR CONTINUE TO USE THE BITMART COPY TRADING SERVICES. YOUR CONTINUED USE OF THE COPY TRADING SERVICES FOLLOWING THE POSTING OF NOTICES OF ANY CHANGE TO THESE TERMS SHALL CONSTITUTE YOUR ACCEPTANCE AND AGREEMENT TO SUCH CHANGE.

 

1. RISK DISCLAIMER

 

YOU SHOULD BE AWARE COPY TRADING IS RISKY.  BEFORE COPYING A TRADE, IT IS IMPORTANT TO UNDERSTAND THE SPECIFIC AND UNIQUE RISKS OF COPY TRADING. COPY TRADING DOES NOT GUARANTEE ANY SPECIFIC TRADING RESULTS. YOU SHOULD EXAMINE YOUR INVESTMENT OBJECTIVES, FINANCIAL RESOURCES AND RISK TOLERANCE TO DETERMINE WHETHER FOLLOWING A PARICULAR TRADER OR COPYING A PARTICULAR TRADE WILL GENERATE YOUR DESIRED TRADING RESULTS. THE TRADERS YOU ARE FOLLOWING ARE NOT PROFESSIONAL TRADERS OR INVESTMENT ADVISORS. USING COPY TRADING SERVICES, TRADES ARE EXECUTED AUTOMATICALLY WITHOUT MANUAL INTERVENTION, WHICH MAY ULTIMATELY CAUSE YOU TO LOSE CONTROL OVER YOUR ACCOUNT AND YOUR FUNDS.  IN SUCH AN EVENT, YOU MAY EXPERIENCE UNEXPECTED LOSSES EXCEEDING THE AMOUNT USED TO COPY A TRADE.

 

ANY PAST PERFORMANCE OF OUR USERS, RETURN ON INVESTMENT (“ROI”), PROFIT AND LOSS (P&L), WIN RATE, ASSET UNDER MANAGEMENT (“AUM”), AND ANY OTHER STATISTICS AND INFORMATION WITH RESPECT TO USERS APPEARING AS FEATURED MASTER TRADERS (AS DEFINED BELOW) ARE NOT INDICATIVE OF FUTURE PERFORMANCE OF SUCH TRADERS AND SHOULD BE CONSIDERED AS HYPOTHETICAL. THE ACTUAL PERCENTAGE GAINS/LOSSES EXPERIENCED BY INVESTORS WILL VARY DEPENDING ON MANY FACTORS, INCLUDING BUT NOT LIMITED TO: STARTING ACCOUNT BALANCES (DEPOSITS AND WITHDRAWALS), MARKET BEHAVIOR, THE INVESTOR’S ACCOUNT SETTINGS AND THE ACTUAL PERFORMANCE OF THE COPIED USER. IT IS IMPORTANT TO UNDERSTAND THAT ROI, P&L, WIN RATE, AUM, OTHER STATISTICAL INFORMATION AND HISTORICAL PERFORMANCE ARE NOT A GUARANTEE OF FUTURE PERFORMANCE OF ANY TRADER. NO REPRESENTATION OR GUARANTEE IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. WHEN REVIEWING THE CONTENT, PORTFOLIO, FINANCIAL PERFORMANCE INFORMATION, OPINIONS OR ADVICE OF ANOTHER TRADER, YOU SHOULD NOT ASSUME THAT THE TRADER IS UNBIASED, INDEPENDENT OR QUALIFIED TO PROVIDE FINANCIAL INFORMATION OR OPINIONS. CRYPTO MARKET IS VOLATILE AND THE MARKET PRICE MAY CHANGE EVERY SECOND. ACCORDINGLY, REGARDLESS OF THE ENTRY OR CLOSING DESIGNATION, BITMART DOES NOT GUARANTEE THAT YOUR TRADE WILL BE FILLED AT A PARTICULAR ORDER PRICE/STOP LOSS PERCENTAGE AND YOU MAY LOSE MORE THAN THE ORIGINAL AMOUNT USED TO COPY ANOTHER TRADER.

 

NO ASPECT OF THE INFORMATION AND/OR COPY TRADING SERVICES PROVIDED AND/OR MADE AVAILABLE ON OUR WEBSITES IS INTENDED TO PROVIDE, OR SHOULD BE CONSTRUED AS PROVIDING, ANY INVESTMENT, TAX OR OTHER FINANCIAL RELATED ADVICE OF ANY KIND. YOU SHOULD NOT CONSIDER ANY SUCH CONTENT AND/OR ANY SUCH SERVICES TO BE A SUBSTITUTE FOR PROFESSIONAL FINANCIAL AND/OR INVESTMENT ADVICE. IF YOU CHOOSE TO ENGAGE IN TRANSACTIONS BASED ON CONTENT ON THE WEBSITE AND/OR ELECT TO COPY SPECIFIC TRADERS AND/OR TRADES, THEN SUCH DECISIONS AND TRANSACTIONS AND ANY CONSEQUENCES FLOWING THEREFROM ARE YOUR SOLE RESPONSIBILITY. WHILE INDIVIDUAL PARTICIPANTS MAY OFFER INVESTMENT ADVICE OR OPINIONS AND/OR EFFECT A TRANSACTION WHICH MAY BE SUBSEQUENTLY COPIED BY OTHER TRADERS, SUCH ADVICE, OPINIONS OR TRADES AMOUNT TO NOTHING MORE THAN EXCHANGES BETWEEN PERSONS WHO MAY BE ANONYMOUS OR UNIDENTIFIABLE OR SIMPLY THE EXECUTION OF A TRADE BY SUCH TRADERS. BITMART DOES NOT PROVIDE INVESTMENT ADVICE DIRECTLY, INDIRECTLY, IMPLICITLY, OR IN ANY MANNER WHATSOEVER BY MAKING SUCH INFORMATION AND/OR SERVICES AVAILABLE TO YOU. YOU SHOULD USE ANY INFORMATION GATHERED FROM HERE AND/OR UTILIZE THE COPY TRADING SERVICES ONLY AS A STARTING POINT FOR YOUR OWN INDEPENDENT RESEARCH AND INVESTMENT DECISION MAKING.

 

2. USE OF BITMART COPY TRADING SERVICES

    •   COPY TRADING ACCOUNT
      • BitMart Copy Trading Service is a service that allows the users at BitMart Futures market (each, a “Copier”) to copy trades carried out by one or some of the other users in the Futures market (each, a “Master” or “Master Trader”). The Copy Trading Service is only available to users at the BitMart Futures market.
      • Copy Trading Service is not available to users from the following countries or areas: United States, Mainland of China, Hong Kong SAR of China, Balkans, Belarys, Burma, Cote D'Ivoire (Ivory Coast), Crimea, Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, or Zimbabwe.
      • A User wishing to use Copy Trading Service is required to open and maintain a separate Copy Trading Account either as a Copier or Master. Any reference of an Account in this Agreement shall mean a Copy Trading Account. A user cannot maintain a Copier Account and Master Account at same time. User may apply to upgrade a Copier Account to Master Account or downgrade a Master Account to Copier Account, subject to BitMart’s discretion.
    • TRADES
      • Copy trading involves automated trading execution whereby trades are opened and closed in your account without your manual intervention and further instructions. You may, however, manually modify or close an order generated through Copy Trading Services functionality and achieve a materially different result than the Master that you are copying.
      • There is no minimum balance requirement for user to open and maintain a Copy Trading Account. However, copied trades are subject to the same minimum trading requirement applicable to other trades in Futures market. A copied trade in amounts lower than the minimum trade (as specified on our platform) will not be opened.
      • If you are copying all trades which are currently open in relation to a Master you choose to copy, we may open your position at the best available price at the time the trade is copied and not at the price at which the trade being copied was originally opened; Unless you set the maximum slippage per order, your position may be opened automatically at a price different from the original trade being copied, and your trade may generate different result than the original trade being copied.   
      • You may choose to copy all future trades of a specific Master or only copy trades in certain trading pair in the Master’s Account. You cannot copy any trades in the Master's Account which were already entered into before this point. You should decide a fixed margin for each particular trade which, with the amount of the fixed margin for all trading pairs in your Account combined, is no more than the total balance available in your Account. By placing a copy trade instruction, you are authorizing and instructing us to execute trades for your Account that automatically mirror the Account of the Master to the maximum extent possible subject to your own fixed margin and limitations in the service or the copy trading functionality which may be disclosed in the market from time to time, without any prior consultation, consent or approval.
      • A Copier may be unable to copy trades in exactly the same manner as the Master for the following reasons, but not limited to: such trade may be unavailable to you or your Account as a result of applicable law or otherwise; You have set a max slippage that stops the trades in event of price movement; your Master is temporarily or permanently disqualified or hidden at the point; the balance in your Account is lower than your fixed margin for the trade; the Master has removed you from the Master’s Copier list.  
      • A Master Trader may be temporarily or permanently disqualified or hidden by BitMart due to following reasons, but not limited to: as a result of applicable law or otherwise; the Master Trader violates this Agreement or the General Market Rules; the Master’s use of the Copy Trading Services involves fraudulent, illegal, or suspicious trading that subject the Master to BitMart’s risk control restriction; or other reasons in BitMart’s sole discretion. A disqualified or hidden Master Trader will nonetheless receive the Profit Sharing (as defined below in Section 2.3.1) for copy orders entered prior to such Master Trader being disqualified or hidden.
      • As a Copier, you may set various order restrictions for copy trading, including the fixed margin that can be used towards a particular trading pair. As a Master, you are subject to restriction on the maximum number of Copiers that may copy your trades according to the asset balance in your own Account. The full restrictions are listed on our website and may be amended from time to time at our sole discretion. Open trades that are in breach of these order restrictions will be closed out at our discretion.
      • Before entering into a copy trade, you will need to make sure there are sufficient balances of funds in your account to be put towards a copy trade. You will be able to transfer the funds from your Futures trading account to your Copy Trading Account. When there are no available funds in your Account to copy a trade, no copy trade orders will be placed.

3. SHARING PROFIT

        • BitMart does not charge any additional fees towards copy trades other than standard trading fee applicable to all BitMart users in the Futures market. As a Copier, you agree to pay a portion of the trading profits (“Profit Sharing”) to the specific Master you copied and whose trading strategy generated such profits. The Profit Sharing payable to each Master is determined by the Master and may vary (“Profit Sharing Ratio”). You should carefully review the Profit Sharing Ratio in each Master’s profile page before choosing to copy a Master. By placing a copy trade order, you agree to pay the Profit Sharing to the Master and that the Profit Sharing to each Master shall be deducted by BitMart immediately after each trade is completed and before any remaining profit is allocated to the Copier’s Account.

4. LIMITATIONS OF LIABILITY

    • WE PROVIDE OUR SERVICES ON AN “AS IS” BASIS. TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW WE PROVIDE NO WARRANTY AND MAKE NO REPRESENTATIONS ON THE QUALITY OF OUR SERVICE. BY USING OUR SERVICES, YOU DO SO SOLELY AT YOUR OWN RISK. UNDER NO CIRCUMSTANCES AND UNDER NO THEORY OF LAW (TORT, CONTRACT, STRICT LIABILITY OR OTHERWISE), SHALL WE OR ANY OF THE INDEMNITEES BE LIABLE TO YOU OR ANY OTHER PERSON FOR ANY DAMAGES ARISING FROM THE USE OF OUR SERVICES, REGARDLESS OF WHETHER SUCH DAMAGES ARE DIRECT, INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY CHARACTER, INCLUDING DAMAGES FOR TRADING LOSSES, LOSS OF INFORMATION, BUSINESS INTERRUPTION OR LOST PROFITS, LOST SAVINGS, OR LOSS OF DATA, OR LIABILITIES UNDER ANY CONTRACT, NEGLIGENCE, STRICT LIABILITY, OR OTHER THEORY ARISING OUT OF OR RELATING IN ANY MANNER TO USE OF OUR SERVICES OR FOR ANY CLAIM OR DEMAND BY ANY THIRD PARTY, EVEN IF WE KNEW OR HAD REASON TO KNOW OF THE POSSIBILITY OF SUCH DAMAGES, CLAIM OR DEMAND IF THE FOREGOING DISCLAIMER AND WAIVER OF LIABILITY SHOULD BE DEEMED INVALID OR INEFFECTIVE.
    • In addition, to the extent permitted by applicable law, we will not be liable for (i) any actions we take in order to carry out your instructions in relation to a copy trade or (ii) any decisions or actions taken by a Master that you have chosen to copy.
    • Notwithstanding the provision above to the maximum permitted extent under applicable law, copy trading shall not amount to any form of investment, portfolio or asset management.
    • To the maximum extent permitted by applicable law, nothing in our Copy Trading Services or functionality shall amount to any personalized investment recommendations, investment advice, tax related advice or other financial advice of any kind.
    • Any explanation or information which we give to you as part of our services, or about the performance of the copy trade is not intended to be and should not be considered as any form of investment advice. Any information provided by us is solely for informational purposes.
    • You should use any information gathered from our website or copy trading features as a starting point for your own independent research and investment decision making. However, you should not make investment decisions based on information provided on BitMart.
    • We will take reasonable steps to monitor the performance of any Master under the Copy Trading functionality, as well as the performance of the functionality of our Copy Trading Service.
    • We reserve the right to pause, stop, or block: (a) any Master from being copied; and (b) any particular trades from being copied. In this case, open trades entered into as a result of the copy trading functionality will remain open unless you manually close your position.
    • We reserve the right to terminate the Copy Trading Service at our discretion (including if you no longer meet the criteria to receive the services or it is not feasible to provide the services as a result of any rules or regulations applicable to us) by giving written notice to you.
    • We may also terminate the Copy Trading Services if we suspect or have reason to believe that (i) prohibited trading activities, including manipulative or abusive trading activities, are being conducted; (ii) fraudulent of incorrect information has been provided during the account opening process; or (iii) you have otherwise acted in bad faith.
    • On termination of the Copy Trading Service, open trades entered into as a result of these functionalities will be closed immediately.
    • We reserve the right to amend the terms of the Copy Trading Service without further consent from you. Any questions regarding your use of BitMart Copy Trading Services should be directed to customer service at support@bitmart.com.

 

Thanks for your supports! 

The BitMart Team 

March 20th, 2023

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