This Terms of agreement sets out the specific terms that will apply to Connected account and Master-trader when using the Copy trading functionality on the Finandy platform. The terms apply to Connected account and Master-trader in addition to the General Terms and Conditions, which apply to all of Finandy services and not just to copy trading. Terms will have the same meaning which are given to those words in the General Terms and Conditions.
1.1. When using the copy trading services, parties are agreeing to use orders and positions management services.
1.2. 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.
1.3. Copy trading is a trading functionality which allows a Connected account to copy the orders of other traders. By connecting to a Master-trader, Connected account authorise to automatically recreate Master trader without any prior consultation, consent or approval. This will be done on a pro rata basis with the same products and the same trading instructions. For example, Master-trader may start copy trading, stop copy trading and/or pause Connected account and set limits to any position etc.
2.1. Finandy Сopy trading functionality amount to a form of discretionary management and provides an aggregator platform for Master-traders and Connected account
2.2. 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.
2.3. Finandy does not take steps to monitor the activity and is not responsible for the results of the Master-trader and Connected account.
2.4. Any statistical information on the results of the Master-trader is presented for informational purposes only and does not reflect future results.
3.1. In making a decision to copy a specific Master-trader, Connected account should consider its own financial situation, including financial commitments.
3.2. Connected account should understand that copy trading is highly speculative and that could sustain significant losses used to Copy a Master-trader 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 Connected account manually modify or close an order generated by the CopyTrader functionality, Connected account may achieve a materially different result than the Master-trader that copied;
(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) copying the trading decisions of inexperienced and/or unprofessional traders;
(f) positions changed by the Connected account that are opened using copy trading will be synchronized with the Master-trader at the first received signal
3.3. Finandy are unable to provide any guarantee as to the performance of any particular Master-trader.
3.4. 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.
3.5. Cases where Master-trader interest conflicts with Finandy interests, or with Connected account interest. For example, with respect to copy trading, Finandy is not responsible and does not compensate for any losses. All cases must be sorted out between the Connected account and the Master-trader
4.1. Before the Connected account enters into the copy trade, the Connected account will need to consider current positions and the impact of copy trading on it.
4.2. The available balance will be used for copy trading transactions based on the settings of the amount and proportions in your account
4.3. Copy trading automatically execute orders for Connected account, which means platform will not obtain Connected account confirmation. The opening of such transactions shall not require any prior consultation, consent or approval. Trades below the minimum trade amount shall not be opened.
4.4. New trades copying:
(a) The trades results of the Connected Account may differ from the results of the Master Trader, due to the constant activity of the markets.
(b) The settings of the position and orders will be copied to the Connected account according to the settings of the position of the Master account.
4.5. The Copy trading service has a number of other functions, the availability of which can be changed by Finandy at its discretion.
5.1. Master-trader charges fees at his own discretion
a) Payment for a one-time subscription for the period
b) Charging Off % of the Connected account's profitable positions for the period Before starting to copy trades, the Connected account must familiarize himself with the rules of the Master-trader on the established fees
5.2. Before starting copying trades, the Connected account must familiarize itself with the rules of the Master Trader fees.
5.3. Finandy platform does not charge any fees other than the standard trading fees of the Finandy exchange
6.1. 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
6.2. Additional liability rules are described in the General Agreement and Risk Disclosure