Phemex Copy Trade Service
Terms of Use
*Description：This Phemex Copy Trade Service Terms of Use (“Terms of Use”) is subjected to restrictions in line with the Section 36 of Phemex Terms of Use.
For more details, please refer to Phemex Terms of Use
Dear Users, when you directly or indirectly use the Copy Trade Service provided by the Phemex platform ( “Phemex”), you are deemed to agree and comply with this Terms of Use, which may be adjusted or modified by the Platform. Please read this Terms of Use carefully.
1. Eligibility
The trader or the follower (which shall be the User who use the Phemex Copy Trade Serice) shall not utilize the Copy Trade Service until satisfying or meeting the following three requirements at the same time. Otherwise, such User shall immediately cease to utilize the Copy Trade Service:
A) You are a qualified investor based on the relevant laws and regulations in your Country of Residency；
B) You shall have full legal capacity, sufficient knowledge and experience to understand the attributes and characteristics of cryptocurrency trading, and shall be fully responsible for the risks arising in the trading process;
C) You promise the crypto assets you provide (deposit or buy) on Phemex are legal in source, and not relevant to any illegal acts such as money laundering or terrorist financing. Otherwise, Phemex is entitled to take actions required by law enforcement cooperating with regional judicial authorities.
2. Transaction
A) You represent that you have sufficient knowledge to make your own evaluation of the authenticity, legitimacy and validity of relevant cryptos and any transaction varieties information, and bear the liabilities of any profits and losses arising therefrom.
B) You warrant that before executing a specific copy trade, you have carefully investigated the feasibility, risk and legality of the specific transaction from the perspective of a qualified investor. Confirming and instruct Phemex to excuting such the copy trade shall be deemed as confirmation of the feasibility, risk and legality of the specific transaction.
C) Phemex shall have no obligation to review all users’ information data, asset information, trading behavior and other matters related to transactions in advance.
3. Disputes and Legal Obligation
A) In case of any transaction disputes between you and other Users when using the Copy Trade Service on the platform, once you or either of the other users jointly submit the disputes to Phemex for mediation, Phemex shall have the right but no obligation to make a mediation decision in Phemex’s sole discretion, and you understand and agree to accept such result.
B) You understand and agree that Phemex has the right to process your necessary information including but not limited to personal data, transaction records where they are required by government departments (including judicial and administrative departments). If you are suspected of infringing the intellectual property rights and other lawful rights or interests of other Users, Phemex is authorized to provide your personal information to the obligee, regulatory or legal authorities upon preliminary judgment of the existence of suspected infringement or violation of related law.
4. Disclaimer
A) You know and agree that Phemex shall not be liable for any damages, including but not limited to the loss of profits, goodwill, usage, data, or other intangible losses arising from any of the following (whether or not we have been informed of the possibility of such damages) :
● Phemex has reasonable reasons to believe that there may be material violations of law or breaches of Phemex Terms of Use by specific Users and transaction matters, as well as Users engaging in any illegal or improper acts.
● Expenses and losses arising from, or substituting for, the purchase or acquisition of any data, information, or transactions from Phemex.
● Your misunderstanding of the Copy Trade Service and any other loss in connection with such Service but not incurred by it.
● Any partial or total losses resulting from your direct or indirect involvement in Copy Trade.
B) Risks associated with the One-Click Copy Trade, including but not limited to automatic transaction operations where you can start and end transactions without requiring any manual intervention.
C) The delay of One-Click Copy Trade may incur high costs and fail.
D) You may choose your investment management services and specific User and/or follow specific trading strategies at your discretion. In making such a decision, you promise you have considered your overall financial situation, including financial planning, and acknowledge the extreme speculations and complexities of the Copy Trade function and there is a possibility you may lose more than you use the Copy Trade Service.
E) The information we provide for the Copy Trade function and the positions of our top traders is authentic and valid, but such information is for reference only and need your independent verify. You understand and agree to accept the risk of any decision based on such information.
F) You acknowledge and are aware that cryptocurrencies are extremely fluctuant and risky, and significant losses may occur even with low leverage multiples. You should make your own decisions of any investment, strategy, and any other products and services that meet your own needs based on your investment objectives and financial situation.
G) You shall be solely responsible for any losses incurred by using the automatic transaction function of Copy Trade.
H) Any information on the Phemex platform or client is intended to provide trading updates and information of traders and followers to the public. Phemex will not provide and imply any investment advice in any form and any information as mentioned above shall not be deemed as any investment advice. You shall conduct independent research and make your own investment decisions using the information available on Phemex and collected from Copy Trade Service.
Phemex reserves the right of final interpretation of matters not mentioned herein within the scope of law and is subject to change without notice.
