In order to further regulate crypto trading activities, ensure a fair and organized market, manage risks and protect the legitimate rights of the crypto investors, the trading platform will strengthen the regulation and management of trading behaviors and shall take measures against any offender involved in abnormal behaviors.
2. Abnormal Trading Behaviors
The abnormal trading behaviors as mentioned herein shall include:
2.1 Suspicious transactions of multiple accounts or a single account that are identified by the platform. In this case, the platform shall freeze the user's funds and transactions. For serious cases, the platform has the right to deduct the user's illegal gains.
2.3 Using multiple accounts or devices for illegal arbitrage, which is prohibited, including but not limited to reaping trading fees, commissions, bonuses, etc. The system will identify cheating behaviors through multi-dimensional features and take corresponding measures against any offender involved in illegal arbitrage, including and not limited to account blocking, asset freezing, login restriction, advanced KYC, etc.
2.4 High-frequency trading. It is prohibited for some of the platform's products. The platform will evaluate the behaviors of all associated accounts of the user (based on IP, devices, funds, duplicate transactions, duplicate referrals and other factors) to determine if the user is engaged in such activity.
2.5 The platform has the right to dynamically remove any trading pairs, suspend trading or reduce the leverage limits without compensation. Users shall not claim compensation for their unawareness of this provision.
2.6 Starting or spreading rumors. The platform reserves the right to deduct users' funds for any loss incurred from rumors that affect the platform's brand image.
2.7 Multiple self-trades between one's own accounts, multiple trades between accounts under the de facto control of an investor or between affiliated accounts, including but not limited to sharing sources of funds, same IP address, concurrent trading behaviors, and other abnormal behaviors; Manipulating the market price through matched orders or other ways by using the single or multiple associated accounts with actual control relationship; multiple trades between clients within a single or a group of associated accounts with actual control relationship.
2.8 Frequent order placement and cancelation within the same day, which may affect the trading price or mislead other investors (frequent order placement and cancelation).
2.9 Frequent order placement and cancelation with large volume during the day, which may affect the trading price or mislead other investors (frequent large-order placement and cancelation).
2.10 The number of positions opened in a single day on a particular trading product (including but not limited to BingX Spot and Futures) exceeding the daily position limit stipulated by the platform.
2.11 The use of program trading to transact orders that may affect the security of BingX's system or the normal trading order.
2.12 Other behaviors deemed abnormal by BingX.
3. Management Rules for Abnormal Trading Behaviors
The rules are formulated to step up risk management of abnormal trading activities in the crypto market. The BingX exchange will take the following measures against any account or user involved in any abnormal behavior specified herein without prior notice.
3.1 Exercise its right to decide whether to continue its cooperation with users and once confirms the termination of cooperation, the platform will prohibit the offender and associated accounts (based on IP, device, funds, trading behaviors and other factors) from accessing its service and deduct ill-gotten gains.
3.2 Freeze the funds and/or all transactions of offenders.
3.3 Deactivate the accounts involved and forfeit the remaining account assets.
3.4 Impose restrictions on the withdrawal and deposit of involved accounts.
3.5 Restrict position opening, demand position closing within a stipulated time and conduct forced liquidation.
3.6 Restrict, suspend or cut off the offender's access to BingX's official website.
3.7 Demand a report regarding trading from users.
3.8 Take other applicable measures in accordance with the Exchange's business rules.
While accessing BingX services, users shall comply with local laws and regulations and BingX rules, consent to the fact that their trading conducts will be regulated and supervised by the Exchange, and exercise conscientious trading. BingX has the right to seek any remedy against any abnormal trading behavior to the extent permitted by the law, including but not limited to restricting trading activities of the offending account. BingX shall not bear any responsibility for any economic loss incurred from violation of the rules provided herein. BingX reserves the right to the final interpretation of the rules.