Copy Trading Service Terms of Use
Last Updated: 27th April 2024
1. Introduction
By participating in Copy Trading Service (as defined below) you acknowledge that you have read, understood and accepted all of the terms and conditions in these Copy Trading Service terms (the “Copy Trading Service Terms”), and you acknowledge and agree that you will be bound by and will comply with these Copy Trading Service Terms. If you do not understand and accept these Copy Trading Service Terms in their entirety, you should not participate.
2. Overview of Copy Trading
2.1 Copy trading provides you (acting as a “Copy Trader”) with the opportunity to interact, follow and copy the portfolios of other traders. It allows users to analyse financial data by comparing and copying trades and techniques. You will be able to make investment decisions on crypto assets based on information provided by lead traders (who may be anonymous or unidentifiable, “Lead Traders”) such as details of trades made by them on the Platform (together, the “Copy Trading Services” or “Copy Trading”). You acknowledge and understand that Copy Trading was not developed to provide personalised investment recommendations, investment advice, tax related advice or other financial related advice of any kind. Any information related to copy trade, or about the performance of the copy trade is not intended to be, and should not be considered as investment advice, portfolio management or other regulated financial services. All the information available on the Platform is provided by us solely for informational purposes and such information should be used as a starting point for your own independent research and investment decision making. Copy Trading shall not be considered as advice or recommendations or endorsements by or on behalf of Binance and/or its affiliates.
2.2 Binance has the right to evaluate your knowledge, experience, adaptability and assess whether Copy Trading is a suitable investment for you. This assessment will be determined by information and documents provided by you, and you can update it at any time. Binance will not hold any liability for your losses as a result of you providing false or deceptive information as part of the documents provided for your assessment.
2.3 Copy Trading only provides a copy trading order service, sending the trader order synchronized to the market under the user's authorization to deal with the counterparty market. There is no guarantee that the copied orders will have the same opening/closing price, opening/closing time and profit/loss ratio due to changes in market conditions, changes in market depth and time-delayed execution of system instructions.
2.4 Binance will monitor the performance of any user and we reserve the right, at our own discretion, to: (i) open and close Binance Account; (ii) include or exclude Lead Traders, Copy Traders and/or portfolios; (iii) block, stop or pause any Lead Trader from being copied under and/or any portfolio from being copied in Platform; (iv) cancel or reject any orders placed by any third party on your behalf for security and/or legal reasons; (v) terminate the relationship with you.
3. Representations and Warranties
3.1 When using Copy Trading Services, you represent and warrant that:
(i) You have the capacity to enter into the Copy Trading Service Terms;
(ii) You have all necessary consent and authority to enter into the Copy Trading Service Terms and use Copy Trading Services;
(iii) You acknowledge and agree that you may be registered as KYC person which may include politically exposed person and sanctions screening;
(iv) You acknowledge and agree to provide personal information and documents that is true, reliable, accurate, complete and not misleading;
(v) You understand that you need to keep your Binance Account information (such as user ID, password, personal data, etc.) confidential and you will solely bear all liability of sharing this information;
(vi) You act at your own behalf and benefit and not as the agent, attorney, trustee or representative of any other person;
(vii) You will not use third party's information (such as name, ID number, phone number, email address). If the information you provide is inaccurate, illegal, or invalid, the Binance will prohibit you from using the Copy Trading Platform;
(viii) You agree to keep your personal information updated and if you want to change the account type, you agree to apply for it at customer service by submitting a work order. If you fail to timely inform the Binance about the change of personal information, the Binance will not be responsible for any loss caused by the change.
(ix) You understand and agree to inform the Copy Trading Platform of any errors that have occurred within seventy-two (72) hours after trades are executed.
(x) You have not and will not upload or transmit any malicious code to Copy Trading Platform or otherwise use any electronic device, software, algorithm, and/or dealing method or strategy that aims to manipulate any aspect of Copy Trading Platform or Copy Trading Services;
(xi) You agree to only post information in the Copy Trading Platform that is in compliance with the relevant laws and regulations. You shall not maliciously publish or spread bad information that violates laws and regulations and that may be unethical, including but not limited to text, pictures, audio, video, etc.
(xii) You will only invest money through Copy Trading Services that is not originated or in any way associated with drug trafficking, abduction, terrorist activity or any other criminal activity that is unlawful or could be considered unlawful by any relevant authority and/or jurisdiction;
3.2 If you breach any warranty or representation made under these Copy Trading Service Terms: (i) Binance may close any orders or trades that you have made, and/or close or freeze your Binance Account; (ii) you will solely assume all losses and damages caused.
4. Assumption of risks
4.1 Crypto assets are volatile virtual products with a high risk of losing money quickly. Prices can fluctuate significantly on any given day. Due to these price fluctuations, your holdings may significantly increase or decrease in value at any given moment, and this may result in a loss of all the capital you have invested in a transaction.
4.2 Therefore you should not trade or invest money that you cannot afford to lose. It is important that you fully understand the risks involved before deciding to trade with us in light of your financial resources, level of experience, and risk appetite. If required, you should seek advice from an independent financial advisor. The actual returns and losses experienced by you will vary depending on many factors, including, but not limited to, market behaviour, market movement, and your trade size. Past performance is not a guide to future performance. The value of your investments may go up or down.
4.3 When you trade on Copy Trading Platform, there is a risk that Copy Trading activity may be unavailable and/or you may lose money as a result of:
(i) the failure of your computer, mobile, digital device (including its battery);
(ii) a weak internet or mobile connection, including transmission errors, delays, interruptions of network signals, errors caused by the stability of the device connection, which means you may not be able to connect to the Platform, or if you are able to connect there may be a delay;
(iii) hacking or the use of malicious software that allows a third party to gain access to your information and/or assets;
(iv) your device being incompatible with the Platform or system specifications, including due to incorrect settings or system specifications;
(v) any incidents that occur beyond the control of the Platform.
4.4 While Copy Trading will use reasonable efforts to ensure that the services run stably and effectively, Binance can't guarantee that there will be no network delay, computer system failures, technical problems associated with the use of computers or data feed systems relied upon by Binance and/or its partners and vendors, failure of hardware, software or communication lines or systems or other force majeure events, which may lead to delay, suspension, interruption of service, short-notice maintenance work or deviation of Copy Trading services execution that does not match your expectations. You acknowledge that in case of any such failures (whether or not described above), Binance does not take any responsibility and shall not be liable for any resulting losses.
4.5 Automated Trading Execution: Copy Trading entails automated trading execution, wherein trades may be opened and closed in your Binance Account without your manual intervention or additional instructions.
4.6 Copying Inexperienced or Unprofessional Traders: Following or copying the decisions of inexperienced or unprofessional traders carries inherent risks. We do not make any representations regarding the expertise, skill, or diligence of any trader you choose to follow or copy.
4.7 Your Obligations: It is your responsibility to determine what, if any, legal, regulatory or tax obligations apply to you or may arise in accordance with the Applicable Law. It is your responsibility to observe and comply with these obligations, as well as collect, report, and remit the correct tax (if any) to the appropriate tax authority. In particular, you should verify if your activities require any license or registration, including potential registration as a sole trader or virtual asset service provider.
4.8 Binance shall not be responsible for any claims and losses arising from any of the cases described above whether directly or indirectly related to Binance and/or its partners and vendors.
4.9 Limitation of Liability: You agree that you shall be solely responsible for any and all Losses that may arise from the automatic operations of the Copy Trading Services. As a user of the Copy Trading Services, you acknowledge that you assume all risks associated with such services, including but not limited to those mentioned in these Copy Trading Service Terms.
5. Copy Trading Content
5.1 When using Copy Trading, you may be able to post, comment, and/or submit content to be made available through the Copy Trading platform (“Your Content”). You are fully responsible for Your Content that you post, comment, submit, or otherwise make available through the Copy Trading. Accordingly, by using Copy Trading and uploading Your Content or otherwise make Your Content available, you grant us a license to access, use, host, cache, store, copy, reproduce, transmit, display, publish, distribute, adapt and modify (for technical purposes, e.g., making sure content is viewable on smartphones as well as computers and other devices). Your Content in any and all media or distribution methods (now known or later developed) but solely as required to be able to operate and provide services of Copy Trading.
5.2 You agree that the license you grant includes the right for us to provide, promote, and improve Copy Trading and to make Your Content available to other companies, organizations or individuals for the distribution, promotion or publication of Your Content on other media and services. You agree that these rights and licenses are non-exclusive, royalty-free, transferable, sub-licensable, irrevocable and worldwide (for so long as Your Content is stored with us), and include a right for us to make Your Content available to, and pass these rights along to, others with whom we have contractual relationships related to the provision of Copy Trading, and solely for purpose of providing Copy Trading, and to otherwise permit access to disclose Your Content to third parties if we determine such access is necessary to comply with our legal obligations. You are fully responsible for keeping your Binance Account safe. Never post and/or share your personal data or security information, password and other information that may put your Binance Account at risk. Binance may review and monitor Your Content on the Copy Trading Platform. Notwithstanding the above, the Binance may not agree and/or share the terms of Your Content.
5.3 When you post, comment and/or submit Your Content on Copy Trading Platform you will need to ensure that Your Content is in accordance with content guidelines prescribed by Binance. You must make sure that Your Content belongs to you or that you have a right to post that information and that you do not violate the copyright, contract rights, publicity rights, privacy rights, or any other rights of any individual or entity.
5.4 You shall be liable for any and all damages resulting from any infringement or other violation of the copyright, trademarks or other proprietary rights of any individual or entity, and for any other harm or losses resulting from Your Content. You acknowledge and agree that Binance shall remove and take all legal appropriate measures related to Your Content and you: (i) must not provide investment advice, portfolio management services or any other type of service; (ii) must not post that Binance endorses Your Content; (iii) must not advertise, indicate and/or promote another business or service, or any type of commercial and/or advertising content including but not limited to spam; and (iv) must not post anything which is illegal, violent, racist, abusive, offensive, insulting, inciteful, threatening, defamatory, harassing, sexually explicit, rude, or hateful.
5.5 Binance may share Your Content if required by law enforcement or government authorities, assisting such entities in any investigation about a breach.
5.6 Binance may post information such as news, graphs, links to other websites, newsletters or information from third parties, etc. There is no guarantee that such information is accurate, correct and, in no event, such information shall be considered as financial advice. Binance is not responsible nor holds any liability for any decision you take or not take based on such information. You bear all risks when using such information to make your own investment decisions.
5.7 You are not allowed and shall not share the information posted by Binance outside of the Copy Trading Platform.
6.1 You will be able to view your Binance Account history on the Platform. You must review your Binance Account history carefully and let Binance know if you see any entries or transactions that you do not recognize or you think are incorrect as soon as possible, and within 14 days after the date that your Binance Account history is provided or made available to you.
6.2 We may rectify any error in your Binance Account history at any time, and reserve the right to void or reverse any transaction:
6.2.1 involving or deriving from a manifest error (that is, any error, omission or misquote (whether an error of Binance or any third party) which is manifest or palpable, including a misquote by any representative of Binance taking into account the current market and currently advertised quotes, or any error of any information, source, official, official result or pronunciation); or
6.2.2 to reflect what we reasonably consider to be the correct or fair details of the transaction.
6.3 We may be required under Applicable Law to share information about your Binance Account and use of the Platform with third parties. You acknowledge and agree that we are entitled to disclose such information.
7. Technology disclaimers
7.1 Binance may, from time to time, suspend access to the Copy Trading services, or the Platform for both scheduled and emergency maintenance. Binance will make reasonable efforts to ensure that transactions on the Platform are processed in a timely manner, but Binance makes no representations or warranties regarding the amount of time needed to complete processing, which is dependent upon many factors outside of our control.
7.2 Although Binance makes reasonable efforts to update the information in respect of the Copy Trading services, we make no representations, warranties, or guarantees, whether express or implied, that the content on the Platform, including information in relation to the Binance services, is accurate, complete, or up-to-date.
7.3 You are responsible for obtaining the data network access necessary to use the Binance services. You are responsible for acquiring and updating compatible hardware or devices necessary to access and use the Binance services, the Platform and any updates thereto. Binance does not guarantee that the Binance services, or any portion thereof, will function on any particular hardware or devices. Binance services may be subject to malfunctions and delays inherent in the use of the internet and electronic communications.
8. General Terms
8.1 All terms and references used in these Terms and which are defined and construed in the Binance Terms of Use (the Terms of Use), the Binance Futures Services Agreement (the Futures Services Agreement) or the Spot Trading Terms of Use, but are not defined or construed in these Copy Trading Service Terms, shall have the same meaning and construction in the Terms of Use or the Futures Services Agreement.
8.2 These Copy Trading Service Terms form part of and are to be read together with the Terms of Use and the Futures Services Agreement. In the event of any conflict or inconsistency between these Copy Trading Service Terms and the Terms of Use or the Futures Services Agreement, the order of precedence in which the documents are to be read is first these Copy Trading Service Terms, then the Futures Services Agreement, and then the Terms of Use.
8.3 Binance will contact you using the details you provide to Binance. This may include contacting you by email, SMS, or telephone. It is important that you ensure that your contact details are correct and up to date. If your contact details change, you must let us know immediately. If you do not, Binance will not be responsible if you do not receive information, notices, or other important information from Binance.
8.4 Binance may give notice by email to your email address. It is your responsibility to ensure that the email address is up-to-date and accurate. Notices may be given, and are deemed to be received, if sent to your email address, whether or not a notice of delivery failure is received.
8.5 You may give us notices only as Binance directs, which may change from time to time.
8.6 Any notices, consent, or other communication given under these Copy Trading Service Terms must be in writing, in English, and signed or otherwise authorized by the party giving it.
8.7 For more information on Binance, you may refer to the company and license information found on Binance websites. If you have questions regarding these Copy Trading Service Terms, please contact Binance for clarification via the Customer Support team.
9. Definitions
Applicable Law means all relevant or applicable statutes, laws (including rules of common law), principles of equity, rules, regulations, regulatory principles and requirements, notices, orders, writs, injunctions, judgments, bye-laws, rulings, directives, proclamations, circulars, mandatory codes of conduct, guidelines, practice notes and interpretations (whether of a governmental body, regulatory or other authority, or self-regulatory organization of which Binance is a member), that are applicable to the provision, receipt or use of the Binance services, or any other products or deliverables provided, used or received in connection with these terms.
Platform means the digital platform that we or any of the Binance Operators may make accessible to you via a website, mobile app, a Binance API, or by such other means as Binance Operators may prescribe from time to time for the use of Binance services including but not limited to the Copy Trading Services.
Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Where copy trading involves futures, trading in particular, is subject to high market risk and price volatility. All of your margin balance may be liquidated in the event of adverse price movement. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. Trading by following and/or copying the trades of other traders involves a high level of risk, even when following and/or copying the top-performing traders. Such risks include the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Past performance is not a reliable predictor of future performance. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. Copy trading is restricted in certain countries and to certain users. This content is not intended for users/countries to which restrictions apply. For more information, see our Terms of Use and Risk Warning.
