COPY TRADING TRADER SERVICE AGREEMENT
(updated and effective May 15, 2023)
1. DESCRIPTION OF COPY TRADING AND SCOPE OF TRADER SERVICE
AscendEX is offering a Copy Trading Service, which allows the User to assess selected trader(s) performance, follow the selected trader’s activities, copy the selected trader’s trading strategies, and view selected trader’s history, rankings, risk profile and other information relating to the trader’s performance. (“ Copy Trading Service ”). ”).
As a participating trader of the Copy Trading Service (“ Trader ” or “ you ”), Trader shall allow AscendEX to
(i) access Trader’s trading strategies and supporting account information, including but not limited to, a brief explanation of trading strategies, account trading transaction history, and performance indicators such as cumulative return,current month profit and return, and other risk metrics (“ Trader Metrics ”) and
(ii) share such Target Metrics with Copy Trading Service Users. Users will review such Trader Metrics, select Trader based on such Trader Metrics, and subscribe, on a monthly basis, to the Copy Trading Service, which will allow the User to follow the Trader’s activities, copy Trader’s trading strategies, and view Trader’s history, rankings, risk profile, Trader Metrics, and other information relating to the trader’s performance.
We will not accept applications for participating Trader who: (a) is not incorporated in, or does not reside in, an eligible jurisdiction as set in our Terms of Service, which may be updated from time to time, (b) resides in, or is a citizen of, any jurisdiction where providing such services would be prohibited by applicable law, or (c) does not satisfy any other requirements of any of our applicable internal policies as modified from time to time.
2. AGREEMENT AND ACCEPTANCE OF TERMS
By accessing the Copy Trading Service from https://ascendex.com (the "Platform") via desktop or mobile application, and applying as a participating Trader of the Copy Trade Service, you acknowledge and agree that you have reviewed this Disclaimer, in conjunction with both the Platforms’ Terms of Services relating the Copy Trading Service and Risk Disclaimer relating to the Copy Trading Service.
PLEASE READ THIS AGREEMENT CAREFULLY and do not access, or apply as a participating Trader, of the Copy Trading Services if you disagree with any term in this Copy Trading Trader Service Agreement, Terms of Services or Risk Disclaimer.
You further acknowledge and agree that by clicking “ I agree ” you will be applying as a participating Trader of the Copy Trading Service at your own risk and are authorizing AscendEX to allow Copy Trading Service Users to follow your trading activities, copy your trading strategies, and view your trading history, rankings, risk profile, Trader Metrics, and other information relating to your trading performance.
Responsibilities of Trader
During the application process, AscendEX may request that Trader provide a brief description of the trading strategies.. Trader will allow AscendEX to access and review Trader Metrics and other key portfolio parameters, most recent performance, return and risk metrics (wherever applicable) and other information that can be helpful for Users to understand the risk and return profile in support of User’s decision-making process. Trader shall be responsible for the accuracy and completeness of all information provided.
Trader shall not use the name, logo, trademarks, service marks, or other proprietary identifying symbols of AscendEX in any press or publicity release, web page, advertising, signage, promotional or marketing materials, brochures, or other marketing or sales purposes without AscendEX’s prior written consent.
Representations and Warranties by Trader
Trader represents, warrants and undertakes to AscendEX as follows:
Trader has full legal power and authority to provide the trading strategies and supporting account information, including but not limited to, a brief explanation of trading strategies, account trading transaction history, and performance indicators such as cumulative return, current month profit and return, and other risk metrics to AscendEX for use in the Copy Trading Service and that such information provided by Trader to AscendEX does not infringe and will not infringe on any third party’s rights (including intellectual property rights);
Trader shall be responsible for complying with all applicable laws in all applicable jurisdictions with respect to Trader’s activities in connection with the Platform and shall not make any false or misleading representation with respect to the Platform;
Trader shall not manipulate trading strategies, or participate in any fraudulent or manipulative activity with respect to trading strategies provided by Trader for personal or third-party gain;
Trader shall be responsible for complying with all applicable provisions of the Terms of Service, including but not limited to the Marketplace Conduct Rules.
Trader shall use his/her best efforts to provide an accurate description of the Trader’s strategies. Trader acknowledges and agrees that the accuracy of the description of Trader’s strategies is the sole responsibility of the Trader and may be displayed by the Platform and available to Users or other Platform clients. Trader shall hold the Platform harmless and indemnify the Platform for any loss, claim or expense suffered by the Platform or its Users as a result of Trader 's breach of this representation
Copy Trading Subscription Fee
A certain percentage of any copied trade where the profit exceeds a certain benchmark shall be paid by Users who subscribed to that trade through the Copy Trading Service. The Copy Trading Subscription Fee shall be deducted by AscendEX and credited to the Trader’s Platform account.
Term and Termination
The User subscribes to the Copy Trading Service and can unsubscribe at any time. This agreement shall terminate upon termination of the User(s)’ subscription.
Notwithstanding the foregoing, Trader acknowledges and agrees that AscendEX reserves the right to pause or terminate the Copy Trading Service for any Trader and/ or trading strategies at its sole and absolute discretion, including if AscendEX suspects abnormal trading patterns outside key risk and portfolio parameters, drastic changes in trading strategy performance, or any suspicious market activity or scenarios impacting the performance of any trading strategies.
Trader shall defend, indemnify and hold AscendEX harmless from any and all claims, losses, damages, and expenses (including reasonable attorneys’ fees and costs of litigation) alleged by any third-party claim relating to:
• Improper acts or omissions by Trader with respect to trading activities in connection with this agreement;
• Trader or trading strategies;
• Any claim of infringement of third party's rights.
3. GOVERNING LANGUAGE
In the event any translation of this Copy Trading Trader Service Agreement, the Terms of Services, or Risk Disclaimer are prepared for convenience or any other purpose, the provisions of the English version shall prevail.
YOU EXPRESSLY ACKNOWLEDGE THAT YOU HAVE READ THIS AGREEMENT AND UNDERSTAND THE RIGHTS, OBLIGATIONS, TERMS AND CONDITIONS SET FORTH HEREIN. BY CLICKING ON THE ACCEPT BUTTON, YOU EXPRESSLY CONSENT TO BE BOUND BY THE THIS COPY TRADING TRADER SERVICE AGREEMENT, THE TERMS OF SERVICES, AND RISK DISCLAIMER.