Dear Users,
The Terms of Use is entered into between you (hereinafter referred to as "you" or "your") and BingX. By accessing, downloading, using, or clicking "I agree" to any service provided by BingX (hereinafter referred to as “the Service”), you acknowledge that you have read, understood, and accepted all the terms and conditions set forth in the Terms herein and the Privacy Policy as disclosed on BingX website. Additionally, when using certain features of the Service, you may be subject to additional terms and conditions applicable to such features.
Please read the Terms carefully, as they will guide you in using the Service. The Terms contain important provisions, including an arbitration clause that requires all claims to be resolved via legally binding arbitration.As with any asset, the value of digital currencies can be subject to significant fluctuation and there is a significant risk of financial loss when purchasing, selling, holding or investing in digital currencies and their derivatives. By using the Service, you acknowledge and agree that: 1. You are fully aware of the risks associated with trading digital currencies and their derivatives; 2. You solely bear all risks arising from using the Service, and trading digital currencies and their derivatives; 3. BingX is not responsible for any such risks or undesired results that you may incur.
By accessing, using, or attempting to use the Service in any capacity, you acknowledge that you accept and agree to be bound by the Terms. If you do not agree, please do not access BingX or use BingX services. Before you proceed with grid trading by choice, to avoid unnecessary losses to your digital currencies, please make sure you are aware of the risks associated with grid trading, and make a prudent decision on whether to use the service based on your own financial conditions and risk tolerance. The risks of grid trading include but are not limited to the following points. Please read carefully.
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Price Volatility
As a special investment product, digital currency is subject to significant price volatility affected by various factors. In your cross-market arbitrage process, you inevitably diversify your portfolio involving a variety of digital currencies. In the event of digital currency devaluation caused by price volatility, you shall bear all the losses on your own.
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Unilateral-Trend Market
Grid trading is more suitable for oscillating markets to earn spreads. If there is a unilateral up or down trend in the currencies you are currently trading, the accuracy of the strategy will be affected. Please re-evaluate and decide by choice whether to adjust the original grid trading to avoid financial loss.
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Trade Suspension
The currencies you choose for grid trading may be subject to trade suspensions, which may affect the strategy parameters and cause risks. Please re-evaluate the risks and choose carefully whether to terminate the original grid trading.
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Price Discrepancy
Price discrepancy refers to the difference (slippage) between the expected price and the executed price of a market order. When opening or closing a strategy, depending on your choice, you may be able to buy or sell at the best market price, which however may be subject to price fluctuations during operation, resulting in a loss.
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Forced Liquidation
Grid trading strategies may trigger forced liquidation in extreme markets. Depending on market conditions and position risk at the time of operation, there is no guarantee that you can close your position successfully by turning off the grid strategy manually due to uncontrollable factors.
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Trading Risks
- The backtesting data of the auto parameters represent only historical data calculated based on historical candlestick charts and are not a promise or guarantee that you will profit from the use of the strategy.
- In some trading situations, bilateral positions may occur as some transactions will not trigger a reverse pending order and you will need to assess your own trading risk.
- You need to understand the characteristics of cross-market arbitrage. In some extreme market conditions, it may happen that a transaction is made successful in market A but not successful in market B, which may result in a loss if the market is highly volatile during this period. However, the strategies provided by BingX are designed to close trades as quickly as possible to minimize losses. You shall be responsible for all losses triggered by the above-mentioned situation.
- Any limit order submitted by you on the BingX's trading system is irrevocable once it has been filled. You shall be aware of and accept the risks that may be associated with this approach.
- The exchange shall not guarantee your profits and shall not share your profits or risks.
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Account Security
If you did not complete KYC authentication, did not enable Google Authenticator, or lent your account to someone other than yourself, the security of your account funds may be affected and you will be responsible for any losses incurred.
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Force Majeure
For reasons beyond BingX's control, e.g., force majeure factors such as earthquakes, floods, fires, failures of computer or communication system, government policies, etc., your order may fail to be filled or to be filled in its entirety. In the event of such circumstances, you may be liable for the resulting losses.
In view of the above-mentioned risks, please read and understand the following important notices:
- Before proceeding with any operation, it is important that you understand the basic knowledge of quantitative strategies in digital currency trading as well as the associated risks. You shall invest only after you fully understand the nature of the transactions involved and the level of risk you are exposed to.
- Your use of the strategies for trading is your own choice. We do not force you to use them nor recommend them to you. Subject to various factors, we make no promises or guarantees as to the validity, accuracy, reliability, quality, stability, integrity, or timeliness of the strategies.
- The risk warnings mentioned above are only enumerative in nature. They shall not constitute a detailed list of all risk factors related to digital asset derivatives trading. You shall also be aware of other possible risks before investing in digital asset derivatives trading.
- You are solely responsible for all liability arising from your use of trading strategies. The exchange shall not be responsible in any way for such liability. BingX reserves the right to the final interpretation of such liability. We sincerely hope and advise investors to make a prudent decision on whether to participate in this grid trading and to allocate their digital assets reasonably, taking into account their conditions such as risk tolerance.
Please check the box before "I am aware of the above risks and important notices." below after reading.