Сopy trading terms of use
Last updated 30/05/2023
These Terms of Use for Copy Trading establish the specific terms that apply to both Connected accounts and Master Traders when using the Copy Trading functionality on the Finandy platform. These Terms supplement the overall Terms of Use, which apply to all Finandy services, including Copy Trading. The defined terms used in these Terms of Use and Copy Trading Terms of Use shall have the same meaning as defined in the general Terms of Use.
Master/Master-trader – Refers to a trader who has registered as a Master Trader and obtained a Master Trader ID. By registering as a Master Trader, you grant Finandy the right to publish your trade results on the Marketplace.
Copier – Refers to a trader who copies the deals of the Master Trader in exchange for fees or bonuses, which are a certain percentage of the gains.
Connected account – Refers to the trading account of a Copier, who is connected to the trades of a Master Trader.
2.1 The Copier undertakes to do the following to apply for the Service:
• be registered and logged in as a client,
• add money to the Account,
• initiate copying.
2.2 When using the copy trading services, parties are agreeing to use orders and positions management services.
2.3 The Finandy platform provides parties with the ability to interact, follow and copy other traders and/or provide copying services to Connected account by using the platform. Copy features include detailed execution of orders, Master-trader information, trading histories, risk profiles, and other.
2.4 By connecting to a Master-trader, Copier authorizes to automatically recreate Master trader deals without any prior consultation, consent or approval. This will be done on a pro rata basis.
3.1 Finandy copy trading functionality amount to a form of discretionary management and provides an aggregator platform for Master-traders and Connected account.
3.2 Finandy do not provide personalised investment recommendations, investment advice, or other trading related advice of any kind. Any explanation or information which we give to parties as part of a Copy trade, or about the performance is not intended to be, and should not be considered as advice. This information is provided by us solely for informational purposes.
3.3 Finandy does not take steps to monitor the activity and is not responsible for the results of the Master-trader and Connected account.
3.4 Any statistical information on the results of the Master-trader is presented for informational purposes only and does not reflect future results. We bear no responsibility in inaccuracy of of the information given.
4.1 Finandy permits the Master traders to have only one Master Account. Any trader may become a Master and can stop being a Master anytime. If Master stops being a Master all the Copiers’ orders might be closed automatically. Finandy bears no responsibility for any loss of profit that may occur in this case.By opening Masters account Master permits Finandy to publish statistical information about its deals on Marketplace. Finandy does not disclose personal information of any Master until it is required by law.The Copiers see only ID of a Master and the statistics of his deals.
4.2 Finandy may unsubscribe the Copier from the Master without prior notification. Finandy may close Master’s account at its sole discretion without prior notification.
4.3 Finandy may reduce the commission set by the Master Trader and limit its maximum value for all her or his Master Accounts without prior notification or providing any explanation.
4.4 Finandy may monitor the Master Trader's activity on the platform, mark the Master Trader's account with the ‘Suspicious activity’ warning if the Master Trader manipulates their statistics, and exclude such account from the Master Rating filtered by default.
4.5. Each Master has the right to make any deals at his own discretion. However, Finandy understands that making transactions by a Master may involve significant financial, organizational and time investments. A Master has the right to receive fair fees, and therefore Finance opposes and intends to counteract in the future abuse of its rights by traders. In particular, Finandy Limited recognizes that it is an abuse for one Master to make deals identical to the deals of another Master in the same period of time if the number of such deals per day exceeds 30% of the Master's transactions. As a counteraction to abuse, Finandy has the right to restrict the Master's access to the platform for a definite period of time or forever. Also, Finandy has the right to inform the Copiers about the measures taken or make it publicly known.
5.1 The Master determines the commission amount for copying orders. The commission can range from 0% to 50% of the Copier’s gain. Commission charges accumulated within one week are paid out to the Master’s Wallet.
5.2 Finandy does not charge extra commissions for copy trading deals, but will probably do it in future.
5.3 The Master may change its commission from time to time. The Copier is recommended to monitor the fees that Master establish.
5.4 The commission is calculated only in case of gains. In case of losses the Master gains nothing.
6.1 In making a decision to copy a specific Master-trader, a Copier should consider its own financial situation, including financial commitments.
6.2 A Copier should understand that copy trading is highly speculative and that could sustain significant losses used to Copy a Master or as a result of the following:
(a) it will involve automated trading execution whereby trades are opened and closed in Connected account account without manual intervention;
(b) if Copier manually modify or close an order generated by the Copy-Trading functionality, Connected account may achieve a completely different result than the Master-trader;
(c) copied trades in amounts lower than the minimum trade will not be opened;
(d) Connected account copy trade will filled at the available price at the time of executed on exchange and not the price at the time which the Master trade being was originally;
(e) Some traders might be inexperienced and/or unprofessional.
6.3 Finandy are unable to provide any guarantee as to the performance of any particular Master-trader.
6.4 Past performance, risk scores, statistics and any other information with respect to Master-traders under Copy trading or different functionality are not reliable indicators of future performance. Finandy does not represent or guarantee that you will achieve profits or losses similar to those shown on the Master-trader portfolio that you are copying. We also do not represent or guarantee that the risk score of a trader will accurately reflect the risk of their future performances.
6.5 Finandy can not guarantee if Masters comply with its local law and Finandy policies. Finandy bears no responsibility for the Copiers’ losses in case it closes the Master’s account or suspends its activity.
6.6 Finandy complies with AML legislation and acts accordingly. It does not reveal the Copiers the information concerning AML issues which relate to the Master.
7.1 Subject to agreement, neither Finandy platform nor any affiliates or associate third parties will be liable for any losses arising from:
(a) actions taken by Finandy in order to carry out your written or spoken instructions; decisions or actions taken by Master-trader that you have chosen to copy.
(b) decisions or actions taken by Master-trader that Connected account have chosen to copy
(c) technical problems, disconnections or other failures that could not have been foreseen
(d) any mistakes in the data concerning Masters marketplace.
Last modified 4d ago