Huobi Registered Trader Agreement
Huobi Copy Trading Platform
The Huobi Copy Trading Platform (hereinafter referred to as the “Platform”, “we” or “us”) allows you to be onboarded as a registered trader (hereinafter referred to as the “Registered Trader” or “you”). For convenience, you and us are hereby collectively referred to as “both Parties” and individually as “each Party”.
This Huobi Registered Trader Agreement (“Agreement”) shall be read together with the Huobi Platform User Agreement (“User Agreement”), guides, Platform rules, announcements or any other information on the Platform that we may publish from time to time. In the event of any conflict between the terms of this Agreement and the User Agreement, the User Agreement shall prevail.
You shall read this Agreement carefully before being onboarded as a Registered Trader and use the services available to Registered Traders (“Services”). You are reminded to seek independent legal advice if necessary. If you do not agree with or understand this Agreement, please immediately exit the Platform and cease to use the Services. By clicking on “I Agree”, “Confirm” or using the Services, you shall be deemed to have understood, bound by and agreed in full with the Agreement, including any modifications made to this Agreement from time to time.
All headings herein are exclusively for the convenience of wording and are not intended to expand or limit the content or scope of the terms and conditions of this Agreement. All information on the Platform and this Agreement are provided on an “as is” and “as available” basis, with no further promises made by us. Headings in this Agreement are for convenience only and shall not govern the meaning or interpretation of any provision of this Agreement.
“Account” has the meaning ascribed to it in clause 4.1.
“Agreement” means the Huobi Registered Trader Agreement.
“AML/CTF” means anti money-laundering and counter terrorist financing.
“Application” has the meaning ascribed to it in clause 4.1.
“Compensation” has the meaning ascribed to it in clause 10.
“Copied Trades” has the meaning ascribed to it in clause 5.
“Dealing with your Account” has the meaning ascribed to it in clause 4.3.
“Digital Assets” means a digital representation of value that can be digitally transferred, stored and traded which is supported by the Platform.
“Fees” has the meaning ascribed to it in clause 7.
“Market Misconduct” has the meaning ascribed to it in clause 8.
“Onboarding” has the meaning ascribed to it in clause 4.1.
“Platform” means the Huobi Copy Trading Platform.
“Pre-Closing Period” has the meaning ascribed to it in clause 4.3.
“Profit Ratio” has the meaning ascribed to it in paragraph 6 of Annex 1.
“Prohibited Actions” has the meaning ascribed to it in paragraph 4 of Annex 1.
“Registration Data” has the meaning ascribed to it in clause 4.1.
“Requirements” has the meaning ascribed to it in paragraph 3 of Annex 1.
“Services” means the services we make available to you on the Platform from time to time.
“Transaction” has the meaning ascribed to it in clause 4.2.
“Upgrade” has the meaning ascribed to it in paragraph 3 of Annex 1.
“User Agreement” means the Huobi Platform User Agreement.
“Users” means the users of the Platform who copy the Copied Trades.
- Onboarding as a Registered Trader
4.1 Onboarding Process
To be eligible for onboarding as a Registered Trader (“Onboarding”), you confirm that you are a natural person, a legal person or any other entity with the authority to enter into this Agreement and use the Services in compliance with all applicable laws, rules and regulations. You shall not apply to be a Registered Trader for the purposes of violating any applicable laws, rules and regulations and/or undermine the Services provided on the Platform.
Should you not be eligible for Onboarding, we reserve the right to refuse your registration application (“Application”) and if you are a Registered Trader, we shall have the right to suspend and/or terminate your status as a Registered Trader without any advance notice to you and hold you accountable for any adverse consequences arising therefrom. We reserve the right to reject any Applications at our sole discretion, including, but not limited to Applications relating to political and/or public figures or to comply with AML/CTF laws and regulations.
In your Application, you shall provide the information necessary to fulfil the Platform’s KYC procedure, which may include:
- a valid email address;
- a mobile phone number;
- your real name;
- identification documentation; and
- any other information as required by us to create and maintain your account with the Platform (“Account”),together, the “Registration Data”.
In the event where your mobile phone number requires any registration with your real name, you shall complete such registration process before providing the mobile phone number to us. You shall be responsible for and bear any losses, direct or indirect, and any adverse consequences arising from the lack of such registration.
You are responsible for updating the Registration Data and ensure that it is accurate at all times. You shall be responsible for the authenticity, integrity and accuracy of the Registration Data and bear any direct or indirect loss and adverse consequences arising from any inaccuracies of your Registration Data.
You shall also provide any other information required for the Onboarding, which may include:
- completing your Registered Trader profile;
- completing your Registered Trader introduction;
- providing your social media accounts, if any;
- proof of past trades; and
- any other information we deem necessary for the Onboarding.
After we verify and approve your Application, you can use the Services as a Registered Trader. You agree to receive emails and/or messages sent by us relating to the management and operation of the Platform.
You have the right to access the Platform to use the Services, including:
- to browse the real-time quotes and transaction information of Digital Asset products on the Platform;
- to submit digital asset transactions, whether to trade or otherwise (each, a “Transaction”) instructions;
- to complete Transactions;
- allow Users of the Platform to copy your Transactions;
- share in the profit of the Users;
- view the information provided to Registered Traders;
- participate in activities organised by us in accordance with the relevant rules of the activity; and/or
- other Services that we may offer to you from time to time.
4.3 Suspension, Termination or Closure
We reserve the right to suspend certain or all Services provided to you if:
- we reasonably believe that we need to do so in order to protect our reputation;
- your use of the Services is subject to any pending litigation, investigation, or government proceeding and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your activity;
- you are not eligible for Onboarding in accordance with clause 4.1;
- when you are a Registered Trader on behalf of a legal entity and you are not an authorised person to act on behalf of such legal entity;
- we decide, in our sole discretion, that you are not suitable to use the Services;
- you are not the person as stated in the Registration Data associated with your Application;
- you use the Services to engage in illegal or illegitimate activities, such as money laundering and bribery;
- you use your Account to engage in market manipulative activities, improper transactions or other illicit trading activities; and/or
- you are in breach of this Agreement or any other applicable laws, rules and regulations.
Notwithstanding the above, we reserve the right to terminate you as a Registered Trader by providing you with 7 Business Days’ notice. Thereafter, you shall have 7 Business Days to take any necessary actions, including cancelling any orders or closing your positions (“Pre-Closing Period”). After the end of the Pre-Closing Period, we shall have the right to cancel your orders, close your positions and return the Digital Assets in your Account to you (“Dealing with your Account”). Notwithstanding anything in this Agreement, if your Account has been closed in accordance with this clause, all remaining account balance (which includes charges and liabilities owed to us) will be immediately payable to us.
We shall not be liable for any adverse consequences and/or losses associated with our Dealing with your Account.
We maintain full custody of the Digital Assets, funds and information/data which may be turned over to governmental authorities arising from fraud investigations, investigations of violation of law or violation of this Agreement.
- Copy Trading
After successfully registering as a Registered Trader, you may place orders and/or execute Transactions on the Platform which may be copied by Users (“Copied Trades”). You are responsible for any Copied Trades made on the Platform, including to ensure that the Copied Trade is properly submitted on the Platform through the relevant website, mobile application or other means which we may permit from time to time. Your Copied Trades may be rejected by the Platform from time to time and it is your responsibility to ensure that your Copied Trades have been executed. We shall not be liable for any loss suffered as a result of any Copied Trades not being submitted by you or for your Copied Trades being rejected by the Platform. Copied Trades are submitted to the Platform at your own risk. We are entitled to rely on, and you are bound by, all Copied Trades submitted on the Platform.
We shall have the sole discretion to amend, suspend or terminate any or all of the Digital Assets available for trading on the Platform at any time and we shall not be liable for any losses incurred by you in respect of such amendment, suspension or termination.
Notwithstanding anything in this Agreement and the trading rules of the Platform and unless otherwise stated by us, you agree that all calculations performed by the Platform are final and conclusive.
- Fees, Funding, Interest and Commission
You shall promptly pay any fees, funding, interest and commission owed to us and/or other Users (“Fees”) in such manner that we may stipulate from time to time with respect to your use of the Services. We shall have the sole discretion to amend the Fees without prior notice to you and it is your sole responsibility to ensure you are aware of the Fees associated with the Services.
You agree that all Fees owed may be settled by deducting the relevant amounts from your Account or other accounts you may have with us and you agree that any Fees owed is a debt immediately due and payable to the relevant party.
In the event you are unable to pay any of the Fees when they are due in the relevant Digital Asset owed, we shall have the right to effect payment or repayment in any other Digital Asset that you have in your Account or other account with us at an exchange rate as determined by us at the time of repayment.
Any applicable taxes, duties, disbursements, costs and/or other expenses incurred by us relating to your use of the Services shall be borne by you.
- Market Misconduct
You must not under any circumstances engage in any conduct which we determine to be market misconduct (“Market Misconduct”), including, but not limited to:
- engage in any form of market manipulation, such as spoofing orders, false trading or price rigging;
- by taking any action which creates a false or misleading appearance of trades or prices;
- taking any action to maintain an artificial price or manipulate the price;
- disclosing false or misleading information about the Platform; and/or
- taking or omitting to take actions which would constitute fraud.
We shall have the discretion to use surveillance systems to monitor your activity on the Platform and shall take any action which we deem necessary to address any actual or potential Market Misconduct. You shall be responsible for and bear any losses, direct or indirect, and any adverse consequences arising from such Market Misconduct.
In the event we determine that you are involved in any Market Misconduct, we shall have the sole discretion to terminate you as a Registered Trader, close any open positions at market price, withhold and deal with any profits that may be attributable to you in our sole discretion.
- Termination and Remedies for Breach
We shall have the right at any time to terminate all Services offered by us to you in accordance with this Agreement and this Agreement shall terminate on the relevant date of termination of all Services. You shall have the right to terminate your use of the Services provided by us at any time and this Agreement shall terminate on the relevant date of your termination of use of the Services. Upon termination of this Agreement, you agree that you shall not have the right to require us to continue to provide the Services to you or perform any other obligation, including, but not limited to, requesting us to keep or disclose to you any information in your Account, or to disclose to you or any third party any information therein that is not read or sent.
- Breach of Agreement
In the event you breach this Agreement or any applicable laws, rules or regulations, you shall pay to us a minimum of US$2 million in compensation and bear all expenses we incur in connection with such breach, including any legal fees (“Compensation”). In the event the Compensation is unable to cover our losses, you shall be liable for the additional amounts in excess of the Compensation.
For the avoidance of doubt, the termination of this Agreement shall not prevent the non-breaching party from demanding the breaching party to assume liabilities arising other than from this Agreement.
- Undertakings, Representations and Warranties
You hereby agree to undertake, represent and warrant that:
- you have the full power and authority to execute and deliver this Agreement and the agreements contemplated herein, and to perform its obligations under this Agreement;
- the information you provide to us is true, accurate and not misleading;
- you are not under any obligation to any party (including any creditor) whatsoever that restricts your ability or right to enter into this Agreement or which places us in a less favourable position than such other party with regards to our claims, rights and remedies;
- there are no litigation, arbitration or administrative proceedings or investigations started or threatened against you;
- you are not in breach of any law or regulation; and/or
- you shall comply with all applicable laws and regulations in your use of the Services.
12.Notices and Communications
You undertake to refer to the announcements, materials and information on the Platform regularly and promptly. We will not be held responsible or liable in any manner of compensation should you incur personal losses arising from negligence of not referring to the announcements, materials and information.
The rights and obligations agreed in this Agreement shall be equally binding on the assignees, the heirs, executors and administrators of the Parties hereto who benefit from the rights and obligations. Without our consent, you may not transfer to any third party any of your rights or obligations hereunder, provided, however, we may, at any time, assign our rights and obligations under this Agreement to any third party with 30 days' notice to you.
- Force Majeure
Where we fail to provide the Services or delay in providing such Services due to circumstances not within our control such as information network equipment maintenance, information network connectivity failures, computer errors, communications or other systems, power failures, weather conditions, unexpected accidents, industrial actions, labour disputes, revolts, uprisings, riots, lack of productivity or production materials, fires, floods, storms, explosions, wars, failure on the part of banks or other partners, collapse of the digital asset market, actions by governments, judicial or administrative authorities, other acts that are not within our control or beyond our ability to control, or due to causes on the part of third parties, we shall not assume any responsibility for such failure to provide the Services to you or delay in providing the Services, or for the resultant loss you may sustain as a result of such failure or delay.
- Relationship of Parties
This Agreement is only binding on the rights and obligations between you and us. Nothing in this Agreement shall be deemed to have created, implied or otherwise treated us as your agent, trustee or other representative, unless it is provided otherwise in this Agreement.
- Entire Agreement
If any provision of this Agreement is found unenforceable, invalid or illegal by any court of competent jurisdiction, validity of the remaining provisions of this Agreement shall not be affected.
We reserve the right to determine, amend or modify any content of this Agreement at any time at our sole discretion. The date and time displayed at the “Last updated on” section of this Agreement shall refer to the timing of any changes to the provisions contained herein and the contents of this Agreement. The amended agreement will take effect immediately upon announcement on the Platform. Although we have taken reasonable measures to ensure the accuracy of the information on the Platform, we do not guarantee the degree of such accuracy or bear any loss arising directly or indirectly from the information on the Platform or from any delay or failure caused by failure to connect with the internet, transmit or receive any notice and information.
You shall be responsible for being updated with the amendments to this Agreement. If you do not agree with the amendments, stop using the Services immediately. Any continued use of the Services shall be deemed as you agreeing to the terms of this Agreement.
All provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement will continue to be binding and operate after the termination or expiration of this Agreement.
- No Waiver
Our or your waiver of the right to hold the other Party liable for breaches of this Agreement or any other liability as is agreed upon in this Agreement shall not be construed or deemed as a waiver of the right to hold the other Party for other breaches of contract. Any failure to exercise any right or remedy shall not be construed in any way as a waiver of such right or remedy.
- Governing Law
This Agreement and the relationship between us shall be governed by and construed in accordance with the laws of Seychelles.
Annex 1: Registered Trader Rules
This Annex 1 is supplementary to the Agreement and shall apply to any functions relating to the Platform.
Your margin as a Registered Trader shall be denominated in USDT and may be amended by us in our sole discretion from time to time.
When using the Platform, you shall not:
- use multiple Accounts for Copy Trading;
- plagiarising the orders and/or trades of other Users and/or Registered Traders;
- engage in any activities that may manipulate the market on the Platform, including wash trading;
- misrepresent your trading strategy on the Platform in any way; and/or
- any activity that is intended to be detrimental to us, the Users and/or other Registered Users,together, the “Prohibited Actions”.
You shall be responsible for and bear any losses, direct or indirect, and any adverse consequences arising from such Prohibited Actions.
We shall have the sole discretion to amend the parameters of Copy Trading, which include, but is not limited to:
- margin requirements;
- size of Copy Trades;
- Profit Ratio;
- maximum number of Users; and
- any other parameters we may determine in our sole discretion from time to time.
As a Registered Trader, you may share in the profits of the Users who made Copy Trades. You may set the proportion of profits attributable to you in a profitable trades as permitted by the Platform (“Profit Ratio”).
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