1. Risks of derivatives trading on TruBit Contract
TruBit Pro Contract Trading (the "Service") is a Virtual Financial Asset (VFA) derivative trading service launched by TruBit. Ltd. (hereafter "TruBit or TruBit Pro"). It is designed, managed, and operated by TruBit. To enable TruBit Pro Contract Trading, you must fully read, understand, and agree to the "TruBit Contract Trading User Agreement" herein (the "Agreement"). Please read through all the terms and conditions carefully, before choosing to accept this Agreement.
Please keep in mind that you will not be able to use the service until you have agreed to the terms of the agreement.In particular, by accepting the Agreement directly or using the Service, you acknowledge that you have agreed to the terms of the Agreement.
The derivatives transaction services provided for the Transaction Platform of TruBit Pro Contract are highly leveraged and risky, so the users need to agree to this Agreement when opening a highly leveraged derivatives transaction. This behavior also represents the users' full knowledge and understanding of the risks of digital asset derivatives transactions on the TruBit Pro Contract Trading Platform.
This Risk Reminder aims to reveal to investors the highly leveraged investment risks of digital asset derivatives transactions and to help investors assess and determine their own capabilities. In view of the existence of investment risks, investors shall carefully read this Risk Reminder before confirming this Agreement and conducting the Contract Transactions, make sure to understand the nature and rules of the Contract Transactions, and decide whether to participate in the Contract Transactions on their own according to their own investment experience, objectives, financial status, and risk-taking ability.
Investors shall consult the law and other independent professional advice before applying for highly leveraged contract transactions.
3. Eligibility of Using the Service
1) You acknowledge and agree that:
You have agreed to "TruBit Pro Terms of Service," and you are eligible for and not prohibited from using the "Services" defined therein.
This Agreement does not violate the laws of your home country or region.
You are the legal owner of the VFAs you have deposited with the Service and aforesaid VFAs are obtained from legitimate sources.
2) You are aware of and assume the risks in using the Service, which include but not limited to:
high price volatility of the VFAs and their derivatives could incur big or total loss in a short period time;
the insufficiency of VFAs deposited as margin could incur immediate liquidation of your positions, and you could lose all VFAs you have deposited with the Service;
technology outrage could happen, which may delay or block your use of the Service;
market anomaly could happen, which may incur loss of your VFAs.
from time to time, in order to maintain the overall wellbeing of the market, TruBit needs to add, remove, or change policies. Such action may be in favor or against an individual user like you.
3) You acknowledge and agree that:
You will not use the Service for any illegal purpose.
You will not initiate or facilitate any form of market manipulation.
4. Existing Risks
1) Risk of Price Fluctuation
As a special product with investment value, due to affected by many factors, the price of digital currency’s fluctuates greatly making it difficult for investors to comprehensively grasp in actual operation. Therefore, there is the possibility of investment mistakes. If the risk cannot be effectively controlled, the investors may suffer great losses, and shall assume all the losses caused by this on their own.
2) Transaction Risk
(i) Investors need to understand that derivatives transaction has the characteristics of high leverage, which may lead to rapid profits or losses. If the direction of the transaction is opposite to the fluctuation of the market, it may cause a large loss. According to the amount of the loss, investors need to add digital currency margin or reduce positions, otherwise the positions taken by them may be forced to liquidate, and investors shall assume all the losses caused by this.
(ii) In the exchange transaction system, once it clinch a deal of the limit order submitted, that is irrevocable, and the investor shall accept the risks that may caused by this way.
(iii) The Exchange shall not guarantee investors' profits and shall not share profits or risks with investors.
3) Risks of Policy Supervision
The derivatives transaction of digital asset may face policy regulatory risks in certain jurisdictions. Investors need to make a careful judgment on the premise of understanding the policy regulatory background of the transaction region in advance.
4) Other Possible Risks
(i) When the users use high leverage, it may bring greater risks to the users to maintain the market stability, the Webpage may monitor the positions of the users with high leverage. When the Webpage judges that the positions of users may have a great impact on the market stability, it will take corresponding measures, including but not limited to communication, revealing risks, forced underweight, forced liquidation and so on, and it will give the users written explanations.
(ii) The derivatives transaction rules of the digital asset derivatives market, including but not limited to the adjustment coefficient, due date, product rules and others, can be modified according to the actual operation of the Webpage. If the Webpage needs to deliver products ahead of schedule or later due to special circumstances, the user shall handle the position in time after the official website performs the notification obligation through official website announcement or SMS notification, the users shall assume all possible losses or profits arising therefrom on their own.
Investors shall fully understand the basic knowledge and related risks of digital currency contract transaction and business rules related to participating in derivatives transaction in advance.
The above-mentioned risk items in this Risk Reminder are only listed in nature, and all risk factors related to digital asset derivatives transaction are not listed in details. Investors shall also carefully understand and master other possible risk factors before participating in digital asset derivatives transaction.
We sincerely hope and advise investors to prudently decide whether to participate in this contract transaction and rationally allocate your digital assets based on your own actual situation such as risk tolerance.
5. Limitation of Liability
5.1 You acknowledge that you understand the rules and policies thoroughly relating to the services. TruBit Pro will not be liable for your loss due to misunderstanding of the rules and policies. In particular, to open or maintain your positions, the amount of VFAs you deposited as margin will need to meet certain requirements. If the requirements are not met, Liquidation will be triggered. When a Liquidation happens, you could lose all the VFAs you have deposited as margin.
5.2 The information of your trading becomes official at Settlement. The information shown between 2 consecutive Settlements are for reference purpose only and cannot be guaranteed to be implying the official outcome. You could take a loss by your actions based on the intro-settlement information provided. TruBit Pro will not be liable for your loss incurred.
5.3 To comply with the changes in laws or regulations, or to maintain the overall wellbeing of the market, TruBit Pro will need to, under its sole discretion, change policies, rules or implement emergency rules from time to time. Such changes or implementations could lead to temporary inaccessibility of your account, clawback from your account, immediate closure of your certain positions, or other interruption of the Service. TruBit Pro will not be liable for your loss incurred.
5.4 TruBit Pro will not be liable for any loss incurred by uncontrollable situations, which include but not limited to:
system maintenance as announced in advance;
internet device malfunctions which disabled data transfer;
war, riots, floods, earthquakes or any other unexpected disruptions;
hacking attacks, computer virus, internet network malfunctions, banking issues, website updating, service suspension, delay or cancellation due to the interruption of government;
unpredictable or unresolvable issues with the technologies currently available;
caused by third parties, including inappropriate or delayed executions.
5.5 Network failures, system failures, hacking attacks, and other unforeseen factors have the potential to cause abnormal turnover, market interruptions and other possible anomalies. TruBit Pro reserves the right to cancel and/or roll back transactions over a period of time in which it deems sufficient to mitigate any detrimental market effects. TruBit Pro will not be liable for any loss incurred thereby.
5.6 You are aware that technological outrages can happen unexpectedly. TruBit Pro will not be liable for any loss incurred by technology outrages which include but are not limited to:
loss, delay, interruption, or other malfunction of the connection to the Service.
stopping, slowness, no response, or other malfunction of the Service, due to overloading.
malfunction due to the Service’s incapability to retrieve necessary data correctly from a third party through internet.
5.7 TruBit Pro strictly prohibits unfair trading behaviors. TruBit Pro reserves the right to enact, under its sole discretion, executive control over your account, if you:
are involved in price manipulation or any other malicious wrongdoings to the market;
might be harming other users or TruBit Pro by exploiting the Service’s vulnerabilities or by other unreasonable means;
are involved in any other activities that TruBit Pro deems harmful to the overall wellbeing of the market.
TruBit Pro also reserves the right to take actions, including but not limited to close your accounts, limit trading, halt trading, cancel transactions, and rollback transactions to eliminate any adverse effects to the overall wellbeing of the market. TruBit Pro will not be liable for any loss incurred when such action against you happens.
6.1 The contents of this Agreement also include TruBit Pro's various system specifications, other agreements or rules in the annex to this Agreement, TruBit Pro Contract with coin margin Users Guide, TruBit Pro Contract with USDT margin Users Guide and other relevant agreements, rules regarding the Service that TruBit Pro may from time to time issue. Once the above content is officially released, it is an integral part of this agreement, and you should also abide by it. In the event of any conflict between the above content and this Agreement, this Agreement shall prevail if no opposite statement.
6.2 TruBit Pro reserves the right to unilaterally modify this Agreement (including the above contents) if necessary. Such modification could happen at any time without prior notice. In the event that any changes are made, the revised contents shall be posted on TruBit Pro's website immediately. Please check the latest information posted therein to inform yourself of any changes. Your continued use of or access to the Service following the posting of any changes constitutes acceptance of those changes. If you do not accept the revised content, you should stop using the related services.
6.3 You should read the Agreement, and any document referred to in them very carefully. If there is anything that you do not understand in the Agreement and any document referred to herein, you should discuss this matter with TruBit Pro and seek the necessary clarification. Any formal communication with you will be undertaken through electronic mail unless otherwise instructed. Documents will be sent to you by electronic mail and you should seek to send any documents to us by the same means. You will also be able to contact us telephonically. Any formal communication with you will, unless otherwise agreed, be made in the English language. In the event of any discrepancy between the English language version of the Agreement or any such communications and any translation of the Agreement or such communications (as applicable) in a foreign language, the respective English version shall prevail. In the event of any discrepancy between communications and the Agreement, the Agreement shall prevail.
6.4 The establishment, validity, explanation, alteration, execution and dispute resolution of this user agreement shall be governed by the laws of Seychelles.
6.5 If there is any dispute between a user and TruBit Pro, both parties should try to work out a resolution through negotiations. However, if the attempt is unsuccessful, both parties agree to resolve the disagreement or dispute through the BVI (Brith Virgin Islands) judiciary.
6.6 All the headings in this agreement are for reading convenience only and shall not affect its interpretation.
6.7 This Agreement does not apply to users of the Contract Trading Simulation.
If you have questions regarding this information, please contact the TruBit Team via our chat channel or email us Here and we'll be in touch!