Bingbon Trader Introduction （11/09 Updated）

Keywords: 
Application for Trader Status
Trading Regulations for Traders
Commission Rules
Community Rankings
and Prohibited Items for Traders.

Ⅰ. Application Requirements for Trader Status

• For users using App older than V2.22, the requirements for applying for trader status are as follows.
• How to become a common trader
• Complete the KYC verification process
• Deposit amount ≥ 50 USDT

Once you have met the requirements, you can become a common trader by clicking on the "Share Trading Activity" button on the "Share Trading" page via Bingbon’s mobile App/PC web. Other users will then be able to search you by your nickname in the Copy Trading Community and follow your orders accordingly.

•  How to become a top trader
•   Complete the KYC verification process
•  Deposit amount ≥ 50 USDT
•  Trading volume of the past 3 weeks ≥ 100,000 USDT
• Profit ratio of the past 3 weeks ≥ 55%
•  Cumulative profit ratio ≥ 30%
• Profit generated from copy trading will not be taken into account

• For users using the App V2.22 or newer than V2.22, the requirements for applying for trader status are as follows.
• There is no distinction between top traders and common traders. The application requirements for becoming a trader on Bingbon are unified as follows.
• Complete the KYC verification process
• Deposit amount ≥ 50 USDT

Please note that deposits, internal transfer, and exchange of USDT against other cryptocurrencies will be taken into account.

Ⅱ. Trading Regulations for Traders

The following values differ slightly in different countries and regions.

1. Daily limits on the number of followed orders

The daily limits on the number of traders' orders is 10. When exceeding the limit, traders can still open positions normally, but followers are unable to copy their orders.

   
2. Leverage limits to followed orders

When the leverage limit is exceeded, traders can still open positions normally, but followers are not permitted to copy their orders.

3. Restrictions on traders’ copying trading groups 

What are traders' copying trading groups? The collection of all followers from every single trader is traders' copying trading groups. Subsequent adjustments to the limit will be automatically adjusted by the system based on market liquidity conditions. Please refer to the subsequent announcements. If you have any questions, please contact our 24/7 online customer support.

Notes:

• The group consists of all followers from one single trader.
• Copy Trading Group’s Margin = the sum of the margin of all followers' orders
• Copy Trading Group's Trading Volume = the sum of the trading volume of all followers' orders

When the limit is exceeded, the system will perform a proportional reduction in the margin of the follower's order.

For example: Followers Alan and Bob are copying orders of trader Carlos.

When Carlos places an order of 10 USDT * 10X, the amount limit of Alan and Bob’s margin should be 10*40=400 USDT. If the original margin of Alan and Bob's copy orders reaches 800 USDT totally, the final margin of their copy orders will be reduced by half(1/2).

When Carlos places an order for BTC/USDT, and there are 2 users Alan and Bob copying that BTC/USDT order. Since the trading volume limit of Alan and Bob is 500K USDT, when the total trading volume of the two exceeds 500K USDT, the final margin of their copy orders will be reduced by half(1/2).

Carlos continuously places BTC/USDT orders. Alan and Bob are copying his orders at the same time. If the total trading volume of the first order is 400K USDT and the trader's first order has not been closed yet, when the total trading volume of the second order exceeds 100K USDT (500K + 400 K = 100K), the second order cannot be followed successfully.

Reminder: The trading behavior of traders is also subject to the other "personal trading limit" of Bingbon users.

Ⅲ. Commission Rules for Traders

• 8% of the profit generated by the follower's copy orders will be shared by the trader as a reward.
• The profit share is settled on a daily basis. If the follower has no cumulative profit for a single day, there will be no profit share.

The profit share is deducted first and then settled on a daily basis as follows.

When the copy order is closed, and the order is profitable, the system will deduct 8% of the profit and a second settlement will be carried out in the early morning of the next day according to the follower’s cumulative net profit. 

For example:

A follower copied the trader up to 10 orders in a single day. There is a net profit of 200 USDT from 8 of the 10 orders while there is a loss of 50 USDT from the other 2 orders.

Amount deducted from the follower's profitable orders: 200 * 8% = 16 USDT

Cumulative net profit after the second settlement: 200-50 = 150 USDT

Actual profit share that the trader gets: 150 * 8% = 12 USDT

Deduction amount that shall be returned to the follower: 16-12 = 4 USDT

Follower's actual profit of the day: 200-50-16 + 4 = 138 USDT

Ⅳ. Community Ranking Rules for Traders

• For traders using an App older than V2.22, the community ranking rules are as follows.

The rankings are evaluated based on a single dimension as "Profit Ratio".

• For traders using the App V2.22 or newer than V2.22, the community ranking rules are as follows.
• Local Priority Principle: Traders in the same region as their followers will be given priority.
  
  For example, when other conditions are the same, Vietnamese traders will be preferentially recommended to Vietnamese users; The same applies to Japanese traders.
  
  
• New Trader Support Principle: Potential new traders will be given priority. 
• Profitability Principle: Traders who lead their followers to profitability are given priority to be recommended.
• All other conditions being equal, traders whose followers are profitable as a whole will be recommended first.
• All other conditions being equal, traders who have been leading profitable followers for a period of time will be recommended first.

• Data Selection Principle: Priority is given to those with better trading performance data. Trading performance data includes: Profit Ratio, Win Rate, Max. Drawdown, etc.

Ⅴ. Prohibited Items for Traders

1. Prohibition of sharing social accounts
   
   Traders are not allowed to explicitly or implicitly disclose social accounts on the platform's personal profile, avatar and other information display places.
   
   
2. Prohibition of revealing sensitive information
   
   In order to maintain the platform's ethos, traders are not allowed to express or imply pornographic or reactionary information in the platform's personal profile, avatar and other information display places.
   
   
3. Prohibition of making a commitment to users that they will definitely get profits
   Traders must not promise profits to followers in order to attract them to copy orders.
   
   
4. Prohibition of using multiple accounts
   
   Traders are prohibited from using multiple accounts to get profit shares or open positions in the opposite direction simultaneously. Once detected, they will be permanently disqualified from trader status.
   
   
5. Prohibition of Plagiarizing Orders
   
   
   Traders are prohibited from plagiarizing the orders of other traders in any way. The risk control system will be checking the opening and closing prices, timing, position details, trading frequency and other dimensions frequently. If traders are detected by the system for plagiarism, their accounts will be temporarily suspended from being copied by users. If traders are detected because of plagiarism for the first time, they can contact Customer Support to complete the advanced KYC for account unlocking. Accounts involved in a second-time plagiarism detected will be permanently closed.

Special Note: Accounts detected by the risk control system for having the same equipment, IP address, or the same/similar trading behavior, associated asset transfer records（such as Internal Transfer）will be regarded as belonging to the same trader. We will enforce relevant restrictions on the accounts that have been involved accordingly.