1. This Agreement for Copy Trading Pro (“Agreement”) governs your use of the Copy Trading Pro Service (defined below) and related services entered into by and between you (the “User”, “you”, “your” or “Investor”) and Bybit Technology Limited (the “Bybit”, “we”, “us” or “our”). This Agreement forms a binding agreement between Bybit and you and serves to supplement our Terms of Service found at https://www.bybit.com/app/terms-service/information (the “Service Agreement”). If you do not agree to any terms or conditions of this Agreement, you must immediately cease using the Copy Trading Pro Service (as defined below). By using the Copy Trading Pro Service you agree to be legally bound by this Agreement, the Service Agreement and all other terms and conditions and rules relating to the Copy Trading Pro Service that we may publish from time to time. 

 

2. In the event of conflict or inconsistency between a term or provision in this Agreement and the Service Agreement, such conflict or inconsistency shall be resolved by giving precedence to this Agreement. All other provisions of our Service Agreement not modified by this Agreement shall remain in full force and effect.

 

3. By using the Copy Trading Pro service, you agree to the terms of this Agreement along with the fees from us or a Trader (defined below).

 

4. The User acknowledges and fully understands the risks involved in depositing of cryptocurrencies and unconditionally accepts the potential risks and benefits of his or her investment decisions. You also further understand and confirm that you have the experience and knowledge necessary to invest in non-guaranteed digital currency or assets products.

 

5. Our Site and Platform are not intended to provide tax, legal, insurance or investment advice, and nothing on the Site or Platform should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security or crypto asset by Bybit. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

 

6. Risk Disclosure. Please note that this Risk Disclosure is in addition to any risk disclosure in relation to products traded on our Platform. In making a decision to invest in a Strategy (defined below) or a Trader (defined below), you should carefully and duly consider your overall financial situation, including your financial commitments and planning. You understand and accept the risks that may arise from using the Copy Trading Pro Service and all losses, expenses, costs, damages, liabilities, penalties, charges (“Losses”) that you may suffer from using the Copy Trading Pro Service, including but not limited to:

6.1 No Representation. Investing in the Strategies of the Traders carries risks, and you may be Investing in Traders whose ultimate purpose or intention, or financial status may differ from yours. We make no representations as to the level of expertise, skill and care of a particular Trader you choose to Invest in under the Copy Trading Pro Service;

6.2 Investment risks. You understand and acknowledge that Copy Trading Pro is highly speculative and that you could sustain significant losses, including the loss of your principal invested with the Traders or Strategies. Investment through Copy Trading Pro involves inherent risks. In particular, please note that past performance of a Trader or Strategy is not a reliable indicator of future results, future returns are not guaranteed, and a loss of original investment capital may occur. We make no representation, warranty, or guarantee regarding the profitability or future performance of any Trader or Strategy under the Copy Trading Pro Service.

6.3 Digital Asset Risk. Investments in digital assets are particularly high-risk. The volatile and unpredictable nature of digital asset prices may lead to significant losses. You should do all the necessary research and exercise your independent judgment before investing in digital assets.

6.4 Funding Risks. You may suffer Losses from the risks associated with the inability to trade Digital Assets while your Digital Assets are placed as Invested Amounts (defined below) under the Copy Trading Pro Service. You are willing to bear the funding risks and potential financial Losses caused by depositing the Digital Assets and using the Copy Trading Pro Service.

6.5 Returns. The expected returns displayed on the Platform are the theoretical estimates of returns; they are not the actual returns guaranteed or promised by us. Actual returns may vary from the expected returns. Your final returns will be based on the actual returns you receive, which shall be distributed by us in our sole discretion. We do not make any guarantee or promise to the actual returns that you may receive.

6.6 Price Fluctuations. Price fluctuations of Digital Assets should be expected.

6.7 Technical Anomalies. Technical anomalies may occur, which may delay or prevent you from using the Copy Trading Pro Service or performing related transactions and result in losses of your Digital Assets.

6.8 Market Anomalies. Market anomalies may occur, which may result in losses of your Digital Assets.

6.9 Changes to the Terms. To maintain an orderly market, we are required to add, remove, or change the policies, the terms of this Agreement or other relevant service agreements or terms from time to time without notice to you. Any changes may benefit or harm individual customers like you.

6.10 Our Relationship to You. We are not your broker, dealer, intermediary, agent, or advisor. You acknowledge and agree that we do not have a fiduciary relationship with or fiduciary duty towards you in connection with any transactions, decisions, or other activities you undertake when using the Copy Trading Pro Service. We do not provide investment or financial advice of any kind, and no communication or information provided to you by us is intended as, or should be construed as, advice of any kind. All transactions are executed based on the parameters of your order instructions. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation, and you alone shall be solely responsible for any Losses therefrom.

 

7. Save as defined below, all terms and references used in this Agreement shall have the meaning given to them in the Service Agreement.

8. The Copy Trading Pro Service allows you to invest in the trading strategies (“Strategy” or “Strategies”) of other traders (“Trader” or “Traders” or “Pro Master”) whereby the Trader will be responsible for the management and operation of your investment in their Strategy. Please note that the Strategies which you may invest in are not managed or operated by us; the Strategies are managed and operated by the Traders. We do not endorse the Traders or Strategies, and we do not make any representations as to the level of expertise, skill and care of any particular Traders you choose to invest with. You should conduct your own independent assessment and due diligence on the Traders and/or Strategies before investing with the Traders and/or Strategies.

9. Listings of Strategies

 

9.1 Copy Trading Pro Service presents you with the listings of Traders and/or Strategies from which you may choose to invest with. You are able to choose your desired Traders or Strategies to invest with from the available listings.

9.2 You acknowledge and agree that: 

9.2.1 listing of the Traders or Strategies does not constitute a representation or endorsement by us of the Traders or Strategies to you as to the level of expertise, skill and care of the Traders, or the performance of the Strategies;

9.2.2 any information on past performance, risk scores, statistics, and any other information with respect to the Traders, Strategies, and portfolios under the Copy Trading Pro Service are solely for informational purposes only and are not reliable indicators of future performance; 

9.2.3 you therefore should not rely solely on the aforementioned information in deciding whether to invest with a particular Trader or Strategies; 

9.2.4 it is your responsibility to independently conduct your own due diligence and research before investing your funds with any Traders or Strategies; and

9.2.5 we shall not be liable for: 

(a) any inaccuracies, errors, or omissions in information provided through on our Site, Platform, or the Copy Trading Pro Service; and 

(b) any Losses arising from or in any way related to your reliance on the information provided through on our Site, Platform, or the Copy Trading Pro Service. 

 

 

10. Investment

10.1 Each Strategy of the Traders will have a period of time (“Seed Round”) during which the Strategy is first open for the Users to invest in (“Invest” or “Investment”).

10.2 During the Seed Round, you may Invest in a particular Trader or Strategy for a maximum period (“Term”) specified to be available for each Investment.

10.3 You may choose the Trader or Strategy you would like to Invest in and the amount to Invest with each Trader or Strategy (“Invested Amount”). Any selection you make when Investing in the Trader or Strategy is final, and cannot be cancelled, revoked, or edited.

10.4 Upon the conclusion of the Seed Round: 

10.4.1 the Trader’s Strategy will be launched (“Strategy Launch” or “Lock-up Starts”) 

(a) For example, if the Seed Round ends on 1 May 0000 UTC, the Strategy Launch will commence on 1 May 0000 UTC;

(b) The date on which the Strategy Launch commences is known as the “Strategy Launch Date”. 

10.4.2 all the Users’ Investments are pooled together into a special fund account (“Trader’s Subaccount”), which will be managed by the Trader. By Investing in a particular Trader or Strategy under the Copy Trading Pro Service, you are authorising and instructing us to transfer your Invested Amounts to the Trader’s Subaccount for the purpose of executing trades using the Trader’s Strategy during the Term.

10.5 Once you have Invested in the Strategy, the Invested Amounts will be deducted from your account and converted into shares (“Shares” or “Invested Shares”) proportional to the net asset value (“NAV”) of the total funds raised for the Strategy. 

10.5.1 For initial Investment, the NAV would start at 1.00. 

10.5.2 For example, a $1000 investment at an NAV of 1.00 results in 1000 Shares.

10.6 Investment Window. 

10.6.1 During the Term, there will be a period during which the Strategy will be open for existing and new Investors to Invest in (“Investment Window”).

10.6.2 The Investment Window will first open on the 6^th day from the Strategy Launch Date and every 7 days thereafter, until the end of the Term.

10.7 An Investment made during: 

10.7.1 the Seed Round is known as a “Seed Round Investment”; and

10.7.2 the Investment Window is known as “Window Investment”.

10.8 Your Investment (whether it is a Seed Round Investment or a Window Investment) and the corresponding Invested Amounts are subject to an initial lock-in period of 4 days (“Initial Lock-in Period”), during which you are not able to apply to redeem (“Redeem” or “Redemption”) your Invested Shares.

10.9 An illustration of the operation of the Initial Lock-in Period and Investment Window is as follows:

 

11. Redemption

11.1 Redemption can take place in the following manners:

11.1.1 Auto Redemption: At the end of the Term on the Redemption Date, your Redeemed Shares as at the latest NAV will be credited into your Funding Account after the expiry of the Redemption Date.

11.1.2 Early Redemption: You may apply to Redeem your Invested Shares during the Redemption Window, on a date earlier than the Redemption Date.

(a) If you Invested during the Seed Round, you will only be allowed to apply for Redemption on the 5^th day from the Strategy Launch Date, i.e. after you have held your Invested Shares for at least 4 days.

(b) If you Invested during the Investment Window, you will only be allowed to apply for Redemption on the 5^th day from the confirmation of your Window Investment, i.e. after you have held your Invested Shares for at least 4 days.

(c) Once you have applied for Redemption, you will be in the queue for Redemption in the upcoming Redemption Settlement Window.

(d) All Users who have applied for Redemption during the same Redemption Window will have their Shares Redeemed at the same NAV. This means that an earlier Redemption request made during the Redemption Window (e.g. on Tuesday) will be put in queue and will be processed at the same NAV as a Redemption request made later during the Redemption Window (e.g. on Saturday). As an illustration, for the Redemption Window which starts from Monday 0200 UTC – Sat 2300 UTC:

i. User A applied for Redemption on Tuesday

ii. User B applied for Redemption on Saturday

iii. Both the Redemption requests of User A and User B will be processed together and settled at the same NAV during the Redemption Settlement Window (on Sunday 0200 UTC – 2300 UTC). 

(e) Your Redeemed Shares as at the latest NAV will be credited into your Funding Account within 48 hours after the Redemption Settlement Window.

11.2 You understand and agree that between the Redemption time and the actual arrival time, you will not be able to make any returns, transfers, or other commands to the Redeemed Shares. You understand and accept that the actual time for the Redeemed Shares to be credited into your Funding Account may vary or be delayed in some circumstances including but not limited to events of extreme market volatility, network delays, a significant number of simultaneous instructions to Redeem from other Users, or there are any other unanticipated events. We shall not be liable for any Losses caused by the difference in arrival times.

11.3 Please note that you will only be able to Redeem your Invested Shares during the Redemption Settlement Window (for Early Redemption) or have your Invested Shares redeemed automatically on the Redemption Date (for Auto Redemption). This means that your Invested Amounts (whether through Seed Round Investment or Window Investment) will be subject to a certain lock-up period before it can be Redeemed. Therefore, please carefully evaluate the liquidity of your funds before making any Investment via the Copy Trading Pro Service.

 

12. Returns

12.1 You acknowledge, agree and accept that the Investment in the Traders or Strategies under the Copy Trading Pro Service is a product which provides you with corresponding returns based on the performance of the Traders or their Strategies during the Term.

12.2 Please note that the return of your Investment in the Traders or Strategies depends only on the NAV performance of the Strategies after your Investment in the Traders or Strategies. 

12.3 You acknowledge, agree and accept that historical data, past performance, past rates of return, risk scores, statistics, and any other information with respect to a particular Trader or Strategy is for reference only, not a definite promise of return.

 

13. Profit Sharing. You acknowledge, agree and accept that: 

13.1 the Traders will be entitled to obtain a certain percentage of profit sharing from the Users who have Invested in their Strategies;

13.2 you are obliged to share a certain percentage of the profits generated from your Invested Amounts (“Profit Sharing Amount”) with the Traders; 

13.3 You hereby agree and authorize us to deduct the Profit Sharing Amount payable to the Trader and transfer the Profit Sharing Amount to the Trader’s funding account during Redemption (including both Early Redemption and Auto Redemption).

 

14. Limitations of Liability

14.1 To the extent permitted by Applicable Law, we will not be liable for:

14.1.1 your decision to Invest in a particular Trader or Strategy under the Copy Trading Pro Service, and any actions we take in order to carry out your instructions in connection therewith; or 

14.1.2any decisions or actions taken by a Trader or Strategy that you have chosen to Invest in.

14.2 We reserve the right to assess whether Copy Trading Pro is a suitable investment tool for you and under what conditions (the “Suitability Assessment”). The result of the Suitability Assessment, should we conduct it, is determined by information and documents provided to us by you at our request, which you can update at any time.

14.3 We may establish your investment profile on the basis of your Suitability Assessment, and your ability to Invest in Traders or Strategies may be limited by your Suitability Assessment. If we determine that Copy Trading Pro is not a suitable investment tool for you, then you will not be permitted to access the Copy Trading Pro functionalities of our Platform. We are not liable for any Losses that you may suffer as a result of providing false or misleading information as part of your Suitability Assessment, including where this leads to us creating an inaccurate investment profile for you.

14.4 Notwithstanding the provision above to the maximum permitted extent under Applicable Law, Copy Trading Pro shall not amount to any form of investment, portfolio or asset management.

14.5 To the maximum extent permitted by Applicable Law, nothing in our Copy Trading Pro Services or functionalities shall amount to any personalised investment recommendations, investment advice, tax related advice or other financial advice of any kind.

14.6 Any explanation or information which we give to you as part of our services, or about the performance of any Traders, Strategies or the Copy Trading Pro Service is not intended to be and should not be considered as any form of investment advice. Any information provided by us through our Platform is solely for informational purposes.

14.7 You should use any information gathered from our website as a starting point for your own independent research and investment decision making. However, you should not make investment decisions based on information provided on our Platform or by our community.

14.8 We reserve the right to pause, stop, or block any Traders or Strategies from being Invested in under the Copy Trading Pro functionality. In this case, open trades entered into as a result of the Copy Trading Pro functionality will be closed.

14.9 We reserve the right to terminate the Copy Trading Pro Service at our discretion (including if you no longer meet the criteria to receive the services or it is not feasible to provide the services as a result of any rules or regulations applicable to us) by giving written notice to you.

14.10 We may also terminate the Copy Trading Pro Service if we suspect or have reason to believe that: 

14.10.1 prohibited trading activities, including manipulative or abusive trading activities, are being conducted; 

14.10.2 fraudulent of incorrect information has been provided during the account opening process; or 

14.10.3 you or Traders have otherwise acted in bad faith.

14.11 On termination of the Copy Trading Pro Service, open trades entered into a result of these functionalities will be closed.

14.12 We reserve the right to amend the terms of the Copy Trading Pro Service without further consent from you.

 

15. Disclaimers. With the acceptance of the terms of this Agreement, you acknowledge and agree that the Copy Trading Pro Service carries inherent risks (“Risks”), including but not limited to the risks set out below and in the Risk Disclosure section at Clause 6 above and you accept those Risks. We disclaim to the maximum extent permitted by laws, and you hereby waive and release us from any and all claims, liabilities, causes of action, responsibilities, and Losses arising from or in any way related to the following:

15.1 You acknowledge, understand, and accept that by using the Copy Trading Pro Service, you are entrusting your funds with Traders who may not possess the necessary license to conduct investment, portfolio, asset, or fund management, and you are willing to bear all the potential risks and Losses you may suffer as a result of entrusting your funds with the Traders or Investing in their Strategies.

15.2Nothing on the Site, Platform, or displayed in the Copy Trading Pro Service amounts to, constitutes, or should be construed or interpreted as any form of offer, advice, invitation, recommendation, endorsement, or solicitation to Invest in any Traders or Strategies, or to engage in any other related transactions.

15.3 We do not endorse any of the Traders or Strategies under Copy Trading Pro, and we do not make any representations as to the level of expertise, skill and care of any particular Traders, or the performance of any particular Strategy you choose to invest with.

15.4 We do not represent, warrant or guarantee: 

15.4.1 the performance of any Trader, Strategy, investment, account, or portfolio; and 

15.4.2 the recurrence of past rates of return, including any profits (or losses) you may make or incur, that have been made by a Trader or Strategy you choose to Invest in. 

15.5 When you Invest in a particular Trader or Strategy, the Trader whom you Invest in is responsible for the management and operation of the Strategies you Invest in, not us. We therefore do not assume any liability or responsibility for the decision, action, behaviour, or performance of the Traders or any of their Strategies. 

15.6 You should conduct your own independent due diligence, risk assessment, and research on the information collected through the Site, Platform, or the Copy Trading Pro Service, including but not limited to any information on past performance, risk scores, statistics, and any other information with respect to the Traders and/or Strategies, before investing with the Traders and/or Strategies. You understand, acknowledge and accept that the information provided through the Copy Trading Pro Service is only for your reference. Any of your investment decisions made based on the information obtained through the Copy Trading Pro Service, our Site or Platform is made at your own risk, and we shall not be liable or responsible for any Losses arising from or related to the Traders or Strategies you Invest in.

15.7 YOU UNDERSTAND, AGREE, AND ACKNOWLEDGE THAT YOU ARE SOLELY RESPONSIBLE FOR YOUR DECISIONS TO INVEST IN ANY OF THE TRADERS OR STRATEGIES UNDER THE COPY TRADING PRO SERVICE, AND ANY LOSSES RESULTING THEREFROM. YOUR INVESTMENT OR SUBSCRIPTION IS AT YOUR OWN RISK.

15.8 When you use or access the Copy Trading Pro Service, you are undertaking all relevant Risks, liabilities, damages, and all the Losses you may suffer as a result of the Risks.

15.9 YOU UNDERSTAND, AGREE, AND ACKNOWLEDGE THAT YOU ARE SOLELY RESPONSIBLE FOR YOUR INVESTMENT DECISIONS.

 

16. In subscribing to the Copy Trading Pro Service, you agree and confirm that we shall have the sole discretion to determine, from time to time, in relation to the Copy Trading Pro Service:

16.1 minimum amounts required for Investment under the Copy Trading Pro Service;

16.2 any Redemption periods;

16.3 any Redemption limits;

16.4 any Investment limits;

16.4 charge any fees or charges; or

16.6 any other changes or limitations in relation to the Copy Trading Pro Service.

 

17. For avoidance of doubt, historical returns are not indicative of future returns. We do not guarantee Redemptions and returns. You agree and accept that any representation concerning possible return at the time you subscribe to the Copy Trading Pro Service is an estimate only and not guaranteed.

 

18. You will be able to view your account history on the Platform. You must review your account history carefully and let us know if you see any entries or transactions that you do not recognize or you think are incorrect as soon as possible, and within 14 days after the date that your account history is provided or made available to you. 

 

19. We may rectify any error in your account at any time and reserve the right to void or reverse any transaction in the following instances:

19.1 involving or deriving from a manifest error (that is, any error, omission or misquote (whether an error of us or any third party that we assign) which is manifest or palpable, including a misquote by any representative of ours taking into account the current market and currently advertised quotes, or any error of any information, source, official, official result or pronunciation); or

19.2 to reflect what we reasonably consider to be the correct or fair details of the transaction.

 

20. You hereby undertake to, wherever you are, use the Copy Trading Pro Service in compliance with all applicable laws. You further undertake to indemnify us from any and all liabilities that we may incur arising from your improper or non-compliant use of the Copy Trading Pro Service.

 

21. We disclaim to the maximum extent permitted by laws, and you hereby waive and release us from any and all claims, liabilities, causes of action, responsibilities, and Losses arising from or in any way related to, including but not limited to:

21.1 your use of the Copy Trading Pro Service;

21.2 your use and access of the Platform;

21.3 your decision to Invest in a particular Trader or Strategy; and

21.4 any decisions or actions taken by a Trader or Strategy that you have chosen to Invest in.

 

22. We may be required under applicable laws and regulations to share information about your accounts and use of the Platform with third parties. You acknowledge, agree and consent that we are entitled to disclose such information.

 

23. We reserve the right to, without prior notice:

23.1 temporarily or permanently prohibit you from accessing or using the Copy Trading Pro Service; 

23.2 impose limits on your access to or your Investment under the Copy Trading Pro Service;  

23.3suspend or terminate the Copy Trading Pro Service;

23.4 delay certain transactions in the Copy Trading Pro Service. 

You understand and agree that we shall not to the maximum extent permitted by law, be liable to you for any Losses caused by such prohibition, suspension or termination.

 

24. You shall comply with all applicable laws and regulations and ensure and cease using the Copy Trading Pro Service where such compliance is no longer possible.

 

25. You agree and accept that we have the right to amend the content of this Agreement at any time in our sole discretion. We shall not be liable for any Losses due to your misunderstanding of this Agreement or your failure to take note of any amendments made to this Agreement from time to time.