1. Definitions
1.1 "We," "Us," "Our" or "The Platform" - [bitcastle], the provider of the Derivatives Copy Trading service.
1.2 "Copy Trade Service"; "Copy Trading Service" or "Copy Trading" - The Derivatives Copy Trading service provided by [bitcastle].
1.3 "User" or "Trader" - Any registered user of the [bitcastle] trading platform.
1.4 "Follower" or "Copier"- Trader/user who copy trades carried out by other traders.
1.5 "Elite Trader" - Traders whose strategies can be copied through the Derivatives Copy Trading service.
You can only be either a Follower or an Elite trader.
2. Acceptance of Terms
2.1 [bitcastle] sets out the specific terms that will apply to you when using the copy trade service on our Platform. By using the Derivatives Copy Trading service, you acknowledge that you have read and understood, and agree to comply with and be bound by these Terms & Conditions.
3. Eligibility
3.1 To use the Service, users must be registered on the [bitcastle] trading platform and meet eligibility criteria set by us.
4. Overview
4.1 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.
4.2 We will monitor the performance of any user and we reserve the right, at our own discretion, to: (i) open and close user accounts; (ii) include or exclude Elite Traders, Followers and/or portfolios; (iii) block, stop or pause any Elite Trader from being copied under and/or any portfolio from being copied in the 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.
4.3 The Copy Trading service allows users to automatically replicate the trading strategies of Elite traders on the platform.
4.4 Users understand that trading involves inherent risks, and past performance of Elite traders is not indicative of future results.
4.5 Users may terminate their participation in the Service at any time by following the provided procedures.
4.6 [bitcastle] will take reasonable measures to protect user confidential information but is not liable for unauthorized access or disclosure.
4.7 These Terms & Conditions are governed by and construed in accordance with the Applicable Law. Any disputes shall be subject to the exclusive jurisdiction of the courts in the Applicable Law.
5. Assumption of risks
Please note that this Risk Disclosure is in addition to any risk disclosure in relation to products traded on our platform. In making a decision to copy a specific trader or traders, strategy and/or portfolio, Users must conduct their research and due diligence before selecting Elite traders to copy. Users should consider their financial situation, including their financial commitments.You should understand that copy trading is highly speculative and that you could sustain significant losses exceeding the master amount used to copy a trader or traders. [bitcastle] does not guarantee profits, and users are responsible for assessing the suitability of the Service based on their financial situation and risk tolerance.
You should in particular be aware of the following risks associated with copy trading:
(a) copy trading involves automated trading execution whereby trades are opened and closed in your account without your manual intervention and further instructions from you;
(b) if you manually modify or close an order generated by the Elite Trader functionality, you may achieve a materially different result than the Elite trader that you copied;
(c) copied trades in amounts lower than the minimum trade (as specified on our platform) will not be opened;
(d) if you are copying all trades which are currently open in relation to an Elite trader 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;
(e) cash-out and withdrawals by the Master, strategy and/or portfolio you are copying may also generate a materially different result for you than the Master that you copied. This is due to a number of different factors including your starting account balance, the effect of the difference in trading proportions, the minimum trade size, your account settings, differences in spread, interest and investment price at the time of your investment, and also the difference in fees that may be incurred;
(f) following and/or copying the trading decisions of inexperienced and/or unprofessional traders creates risk and we make no representations as to the level of expertise, skill and care of a particular trader you choose to follow and/or copy;
(g) you may be copying traders whose ultimate purpose or intention, or financial status may differ from yours; and/or
(h) 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.
(i) While Copy Trading will use reasonable efforts to ensure that the services run stably and effectively, we 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 us 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), we do not take any responsibility and shall not be liable for any resulting losses.
6. Trade Execution
6.1 The Platform provides you with the ability follow and copy other traders, strategies and/or portfolios by using the information, as well as providing you with information in relation to an Elite trader profile such as: performance, order history, total followers, profit etc.
6.2 Copy trading is a trading functionality which allows you to copy the account of other traders. You do this by copying a specific Elite trader. By placing a copy trade instruction through our Platform, you are authorising and instructing us to execute trades for your account that automatically mirror the account of the Master to the maximum extent possible subject to limitations in the service or the copy trader functionality which may be disclosed on our Platform from time to time, without any prior consultation, consent of approval. The copy trades may be executed on a pro rata basis and in relation to the same products and the same trading instructions. As a result, we are authorised open and close positions, set limits and perform all other actions necessary to carry out the copy trading service.
6.3 Your copy trade order may fail due to several reasons such as:
(a) the Elite Trader canceling the order, removing you as a follower
(b) insufficient funds in your account
(c) you reach copy trading limits for the trading pair
(d) such trade may be unavailable to you or your account as a result of Applicable Law or otherwise.
(e) we will not open trades in amounts lower than the minimum trade.
(f) 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 Platform, or if you are able to connect there may be a delay; the failure of your computer, mobile, digital device (including its battery)
6.4 The copy trade service may result in trades in a number of instruments. Each trade opened on your behalf through copy trading will usually be classified under the same asset class as classified in the copied account.
6.5 Before entering into a copy trade, you will need to have sufficient balances of funds in your account to be put towards a copy trade. Where there are no remaining funds in your account to copy a trade, any subsequent copy trade orders will not be placed.
6.6 When we automatically execute an order based on your instruction to copy a trader or a portfolio, we will not be required to seek your consent, prior approval or any confirmation from you prior to and for the execution of such an order.
6.7 There are a number of order restrictions when copy trading, including on the minimum and maximum amount that can be invested in any trader or portfolio that you copy, the minimum amount on any single copy trade, and the maximum number of traders that you can copy. 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.
6.8 When you are using our Copy Trader service, you can choose to copy:
(a) all trades which are currently open in a certain account as well as new trades which are opened after you begin to copy the trader in such account; or
(b) only new trades which are opened after you begin to copy the trader's account. This means that we will not copy any trades in the trader's account which were entered into before this point.
7. Disclaimers
7.1 We do not represent or guarantee the performance of any trader, investment, account, portfolio, or strategy. We do not guarantee the recurrence of past rates of return that have been made by a Master or portfolio you choose to copy, and the profits (or losses) you make or incur may not match those of an Elite trader or portfolio you copy.
7.2 Past performance, risk scores, statistics, and any other information with respect to our Platform’s traders under our Copy Trader and/or Copy Portfolio functionality, or of different portfolios and trading strategies under our Copy Portfolio functionality are not reliable indicators of future performance.
7.3 We do not represent or guarantee that you will achieve profits or losses similar to those shown to a trader or portfolio that you are copying. Conflicts of Interest
7.4 We may, from time to time, suspend access to the Copy Trading services, or the Platform for both scheduled and emergency maintenance. We will make reasonable efforts to ensure that transactions on the Platform are processed in a timely manner, but we makes no representations or warranties regarding the amount of time needed to complete processing, which is dependent upon many factors outside of our control.
7.5 Although our Platform 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 our services, is accurate, complete, or up-to-date.
7.6 You are responsible for obtaining the data network access necessary to use our services. You are responsible for acquiring and updating compatible hardware or devices necessary to access and use our services, the Platform and any updates thereto. [bitcastle] does not guarantee that the [bitcastle] services, or any portion thereof, will function on any particular hardware or devices. Our services may be subject to malfunctions and delays inherent in the use of the internet and electronic communications.