A．Trader application conditions
After becoming a trader, you can promote your trading strategy and earn profit sharing from followers who copy your trading strategy. To qualify as a trader, you need to meet the following requirements:
a. Assets requirements
In order to prevent traders from maliciously using small-sum margin to place orders, traders need to deposit certain assets to copy trading account according to the regulations. Asset deposit should be greater than 500 USDT.
b. Trading requirements
Make sure you aren’t currently following a trader, and do not have any existing positions and orders. If you still have positions and orders, close them and transfer all assets out before your application.
B. Code of Conduct
a. Traders shall not make any promise of profit to attract followers;
b. Traders need to help followers make a profit to the best of their ability, bear in mind the risk of followers, and shall not engage in any wash trading for higher yield or higher commission.
c. Traders must not use high-risk, high-return trading strategies that create uncontrollable risk for followers;
d. To protect the interests of followers, traders shall not display, reveal or imply social accounts or contact information in areas that exhibit nicknames, profiles, and other information
e. Traders are prohibited from using multiple accounts for matched orders. Once found, they will be permanently disqualified from initiating copy trades;
f. Traders shall not operate in bad faith, including and not limited to conducting any malicious wash trading to raise the number of followers or the amount invested by followers. Otherwise, the trader account will be permanently suspended by CoinW.
g. Once traders violate the requirements and agreements above, they will be immediately disqualified. Also, CoinW will deduct the illegal profit part and will no longer provide services to traders;
h. Once trader status is canceled, the followers’ position will be close immediately
i. For any severe consequences caused by trader behaviors, traders will be banned from trading.
C. Trading rules
a. Traders shall employ merged futures orders for both fixed margin mode and cross margin mode.
CoinW has the right to supplement the trader agreements to ensure the sustainable development of copy trading system, and CoinW reserves all the rights of final interpretation.
1. Copy trading is high in risk, and the risk shall be borne by the followers.
2. CoinW supports followers to copy orders in both cross-margin mode and fixed-margin mode. If the follower needs to open a position independently, please use the cross-margin mode; otherwise, the position would not be opened successfully. Under Cross-Margin Mode while copying trading, the Margin Ratio is calculated based on all the positions of all contracts in copy trading account. If you follow multiple orders at the same time and one of the orders is forcedly liquidated, all the positions you follow with the trader will be liquidated, so that the entire funds in the copy trading account will be lost.
3. After your following to the trader, only the trader's newly opened positions will be followed, and the traders' previous holding positions will not be followed. you can unfollow traders at any time. Your previous followed-up positions will not be closed after your unfollowing, but you can manually close your positions.
4. If the follower's closed position is profitable, no matter the position is manual closing or follow-up closing, the system will automatically deduct 12% of the net profite, and credit the profit share amount to the trader's account.
5. In making a decision to copy a specific trader or traders, you should understand that copy trading is highly speculative and that you could sustain significant losses exceeding the principal amount used to copy a trader or traders. You should in particular be aware of the risks associated with copy trading.
6. When your following trader is judged to have trading irregularities and get disqualified as a trader, you will not be able to follow to open new positions, but the previous followed-up positions will not be affected.
7. The trader has the right to remove his/her followers. After being removed, you will not be able to follow and open new positions. But the positions that have been followed will not be changed.