Terms and Conditions for Spot Copy Trading USERS:
1. The User (hereinafter referred to as "User" or "you") is obliged to thoroughly review and fully comprehend the User Terms and Conditions for CoinW Spot Copy Trading (hereinafter referred to as "Terms and Conditions"), the Legal Notices, and Risk Disclosure Statement promulgated by the CoinW platform, prior to initiating any Spot Copy Trading transaction. Your affirmative action of selecting the "Agree" option constitutes an acknowledgment of having read and an agreement to be legally bound by these Terms and Conditions, Legal Notices, and the Risk Disclosure Statement.
2. The User hereby declares to be a minimum of eighteen (18) years of age and possesses the full legal capacity to engage in civil rights and civil conduct; the User asserts to have adequate knowledge and experience to comprehend the inherent nature and potential risks associated with Spot Copy Trading.
3. The User represents and warrants that they are the lawful proprietor(s) of the funds or digital assets deposited into their CoinW account. The User guarantees the legitimacy of the source of these funds or assets and commits to not engage in any unlawful activities or operations through the use of the platform.
4. The User acknowledges that following a trader may involve a risk of financial loss. Such risk shall be borne exclusively by the User. The User is advised to exercise due diligence and prioritize risk management in making such decisions.
5. Upon successfully following a Lead Trader, you will only be following them in their newly established positions, but not the positions they already hold. These new positions will be held in your Copy Trading sub-account, and you can only transfer USDT between your Copy Trading account and your Spot account.
6. The User retains the right to discontinue following any Lead Trader at any time, after which time, CoinW's system will automatically execute orders to sell all cryptocurrency assets purchased following the Lead Trader at the prevailing market price.
7. In the event of a profit realized from selling assets at market price, regardless of whether this sale was executed independently by the User or in conjunction with following a Lead Trader, a portion of the profit (calculated as the amount of profit multiplied by profit-sharing ratio) shall be allocated to the Lead Trader as a reward. This reward, corresponding to the Lead Trader’s profit-sharing ratio, will be automatically deducted from the User’s profit.
8. Should the orders from a Lead Trader be deemed as unlawful or if their status as a Lead Trader is revoked, you will be prohibited from pursuing new asset purchases based on said Lead Trader’s activities. However, this prohibition will not affect the assets already purchased.
9. Lead Traders reserve the right to disengage their followers. Upon such removal, the User will be precluded from tracking the Lead Trader for new asset acquisitions. This termination, however, does not impact the assets that have been previously purchased.
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Lead Trader Agreement
I. Trader Application Requirements
Individuals who are users of CoinW and possess requisite knowledge in trading may apply to become a Lead Trader, thereby enabling other users to replicate their trades and earn commission on followers' profit. CoinW will evaluate each user's application and order history in line with its internal policies and guidelines. The decision to approve or reject an application rests solely and absolutely at the of CoinW.
II. Lead Traders' Code of Conduct
1. Lead Traders are strictly prohibited from guaranteeing profits to attract followers to replicate their trades.
2. Lead Traders must endeavor to help their followers in realizing profits, consider followers' risk threshold timely, and refrain from executing trades solely to pursue high returns and commissions.
3. The use of high-risk and high-reward trading strategies by Lead Traders, which could impart uncontrollable risks to followers, is prohibited.
4. Lead Traders are required to uphold the privacy and interests of others and must not display or insinuate the sharing of personal contact information, such as phone numbers, email addresses, and other social media accounts.
5. The operation of multiple accounts by a single Lead Trader is strictly forbidden. Detection of such infractions will result in the permanent revocation of Lead Trader’s privileges.
6. Traders engaging in malicious practices, including but not limited to manipulative trading to inflate follower count or funds, will face permanent suspension of their accounts.
7. Violation of the aforementioned requirements and agreements will result in the immediate disqualification of Lead Traders from leading trades. The platform will reclaim the proceeds derived from such violations and will cease to provide services to the offending Lead Trader.
8. Should a Lead Trader be disqualified, all current positions held by the concerned Lead Trader will be liquidated immediately.
9. Detection of abnormal trading activities or other violations by the system will lead to a trading ban from the concerned user.
III Responsibility of Lead Traders
1. The decision to become a Lead Trader is a personal choice of the user and does not establish any employment, partnership, intermediary, contractor, or other contractual relationship with CoinW. The user acknowledges and agrees to act in good faith and bear all legal responsibilities and risks associated with the role. CoinW disclaims any liability or obligation to compensate for the actions of users.
2. The Lead Trader agrees to abide by all relevant laws and regulations in all applicable jurisdictions. The Lead Trader shall be solely responsible for their actions in the capacity of a Lead Trader.
3. CoinW reserves the right to amend the rules governing Lead Traders to ensure the healthy operation of the Copy Trading system. CoinW holds the final right of interpretative authority regarding these rules.