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Copy Trading Terms
Explore the Copy Trading glossary to understand key terms and concepts related to this feature on Zenit World.
1.1. These Terms and Conditions (‘Terms’) govern how you may use the Zenit Platform (‘Platform’) and its functionalities including but not limited to the website, any of its content to conduct Copy Trading activities (‘Services’).
1.2. These Terms apply between Zenit World (‘Zenit’, ‘we’, ‘our’) and you, the person accessing or using the Services (User, you or your).
1.3. The scope of these Terms is to set out the main terms and conditions of the Copy Trading services and form the basis of our business relationship. In addition to the Terms, we have regulated and will regulate some aspects of our Services in separate terms and conditions which apply to our Users, such as the Website Terms and Conditions available at <link>, and the Privacy and Cookies Policy, available at <link>, which are deemed to be incorporated into this Agreement by reference.
1.5. If you do not agree to the Terms or it would be unlawful for you to use our Services, you should not provide your consent and you are not entitled to use our Services.
1.6. In these Terms, we may refer to Zenit’s Whitepaper available at <link> and we may publish other similar papers in the future that describe the concepts and policies we apply in providing our Services. We disclose them for information purposes only and they are not directly part of these Terms and may be updated and changed, at our discretion, without prior notice to you.
2.1. Copy trading (each, a Copy Trade and the service Copy Trading) is a service which allows you to copy the trades of other Users (Professional Trader). When using Copy Trading, parameters such as margin, leverage, size, take profit and stop loss will be set in accordance with the parameters set by the Professional Trader.
2.2. You may either be a Professional Trader, which is a User whose trades are copied by other Users; or you may be a Follower, which is a User who copies the trades of the Professional Trader.
2.3. The Follower may either copy a Professional Trader or Traders strategy or portfolio (‘Copy Portfolio’).
3.1. You are advised that this Risk Disclosure is in addition to any risk disclosure in relation to products traded on our platform.
3.2. We do not provide personalized investment recommendations, investment advice, tax related advice or other financial related advice of any kind. Any explanation or information which we give to you as part of the Copy Trading Services, or about the performance of the Copy Trading is not intended to be and should not be considered as advice. This information is provided by us solely for informational purposes.
3.3. You should use any information gathered from our website or Copy Trading features 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 the Platform.
3.4. In making a decision to copy a specific Professional Trader or Traders’ strategy and/or portfolio, you should consider your financial situation, including your financial commitments. You should understand that Copy Trading is highly speculative and that you could sustain significant losses exceeding the amount used to copy a Professional Trader or Traders. You should in particular be aware of the following risks associated with Copy Trading:
a. Copy Trading involves automated trading execution whereby trades are opened and closed in your account without your manual intervention and further instructions from you;
b. If you manually modify or close an order generated by the Professional Trader functionality, you may achieve a materially different result than the Professional Trader that you copied;
c. Copied trades can only be opened for amounts meeting the minimum trade requirements provided for by the Professional Trader. These requirements are subject to the respective Professional Traders and You are responsible to check and meet these requirements prior to conducting the Copt Trading activities.
d. If you are copying all trades which are currently open in relation to a Professional Trader you choose to copy, we may open your position at the best available price at the time the trade is copied and not at the price at which the trade being copied was originally opened;
e. Any cash-out and withdrawals by the Professional Trader, strategy and/or portfolio you are copying may also generate a materially different result for you than the Professional Trader that you copied. This may be due to a number of different factors including your starting account balance, the effect of the difference in trading proportions, the minimum trade size, your account settings, differences in spread, interest and investment price at the time of your investment, and also the difference in fees that may be incurred;
f. Following and/or copying the trading decisions of inexperienced and/or unprofessional Professional Traders creates risk. We do strive to designate experienced Professional Traders based on certain criteria, however we make no representations as to the level of expertise, skill and care of a particular trader you choose to follow and/or copy.
g. You may be copying traders whose ultimate purpose or intention, or financial status may differ from yours; and/or
h. Following and/or copying traders or portfolios that trade in, or which include products that are not available to you (whether as a result of the applicable laws and regulations or otherwise) and where a replacement equivalent trade cannot be executed may result in your portfolio materially deviating from the portfolio of the Professional Trader or the Copy Portfolio.
3.5. We do not guarantee the success or viability of any Copy Trading efforts, nor do we assume responsibility for any losses, damages, or liabilities arising from such efforts. Past performance, risk scores, statistics and any other information with respect to the Professional Traders are not reliable indicators of future performance. We do not represent or guarantee that you will achieve the same profits or losses as the Professional Traders that you are copying. We also do not represent or guarantee that the risk score of a Professional Trader will accurately reflect the risk of their future performances.
3.6. By accessing or using any Zenit’s Services, You are voluntarily choosing to engage in sophisticated and risky asset exchanges, transactions, and trading activities.
3.7. We will take reasonable steps to monitor the performance of any Professional Trader designated as such. We reserve ourselves the discretion to amend, limit the access to, or terminate any Professional Trader from being copied under our Copy Trader functionality.
3.8. We work hard to provide state-of-the-art systems and security. Nonetheless, certain issues and risks are unavoidable, and if such issues or problems arise in connection with your use of our Services, including technical difficulties with trading, it may take days, weeks, or months to resolve, and some issues may not be resolved at all. By agreeing to these Terms, you acknowledge that Zenit is not responsible for the aforementioned risks, and you voluntarily assume and accept such risks in deciding to engage in Copy Trading activities.
4.1. Registration of Zenit Account. In order to sign up a Zenit follower account, you must register in the Platform. By using the Zenit account, you agree and represent that you will use the Zenit account for yourself, and not on behalf of any third party, unless you have obtained prior legal approval from Zenit.
4.2. Identity Verification. Zenit has implemented a fully compliant and advanced User onboarding and Anti-Money Laundering Screening system (“KYC System”) that is designed to facilitate the process of User registration and identity verification in order to assess, manage and mitigate any money laundering or terrorist financing risks associated with the User. In order to conduct the Identity verification Zenit may insist you to complete the following KYC process;
4.2.1. Account Creation & Registration
4.2.2. Sanction & PEP Screening
4.2.3. Document Verification
4.2.4. Identity Verification
4.2.5. Liveness check and Face Match
4.2.6. Known Face Search
4.2.7. Video Calls and Interviews (as necessary)
4.2.8. Email, Phone and Address verification
4.3. In providing us with the above-mentioned information, you confirm that the information is accurate and authentic. Further, you agree to keep us updated if any of the information you provide changes. If there are any grounds for believing that any of the information you provided is incorrect, false, outdated or incomplete, Zenit reserves the right to send you a letter of demand for corrections, suspend, freeze or terminate all/part of the Zenit services we provide you.
4.4. Completing the KYC verification is mandatory in order to access the Platform and Services, Users who do not complete the verification process mentioned in this clause 4 will not be able to engage in any trading or investing activities.
4.5. You are aware and accept that we do not accept Users from certain countries due to internal policy decisions, and that this restriction may vary from time to time at the sole discretion of Zenit and we are not liable for any loss or damage endured under this clause 4.5.
5.1. A Professional Trader's are diligently selected by Zenit on the basis of the following prerequisites: verification of trading history, compliance with applicable laws and regulations and adherence to Zenit’s ethical standards.
5.3. A Professional Trader's performance is subject to regular reviews and may be revoked at any time at the sole discretion of Zenit should they fail to meet our standards.
6.1. The Platform provides you with the following options to conduct Copy Trading activities.
6.2.You have the option to either copy a specific Professional Trader. You can copy any number of Professional Traders or Copy Portfolios.
6.3. To conduct the Copy Trading activities, You are required to:
6.3.1. Deposit Funds: The User needs to deposit funds into their Zenit account to use the Copy Trading feature. You can deposit using cryptocurrency or fiat currency, depending on the options available.
6.3.2. Choose a Trader: Once You have funded Your account, You can browse the list of Professional Traders on the platform and select to copy, subject to acceptance of the terms of the specific Professional Trader or strategy.
6.3.3. Set Copy Trading Preferences: Before activating the Copy Trading feature, You need to set the amount You want to allocate to Copy Trading, at your sole discretion providing it meets the minimum requirements of the Professional Trader.
6.3.4 Activate Copy Trading: Once You have selected a Professional Trader and set Your preferences, You can activate the Copy Trading feature which will automatically start the Copy Trading process. The Copy Trading process shall only be applicable to the new trades the Professional Trader opens after the Copy Trading feature has been activated.
6.3.5. Track Performance: Users can track the performance of their Copy Trading strategy through the Platform's performance-tracking tools. This allows You to monitor Your profits or losses and make informed decisions about Your future trading strategies.
6.4. Your application to conduct the Copy Trading activities might be rejected by us in the following scenarios:
a. If such activities are prohibited or unavailable to you because of the applicable laws and regulations;
b. If the Copy Trading amount is lower than the minimum trade amount provided for by Us;
c. If you have failed to pay the applicable fees;
d. If you do not meet the minimum requirements in accordance with clause 3.4.c to conduct these activities;
e. Any other reason decided by us in our sole discretion, which shall be notified to you either through the Platform or via the email address provided by you during the registration process. It is your duty to provide us with a viable working email address.
7.1. The User agrees to pay performance fees to the Professional Trader when copying their trading strategy. The performance fees will be calculated as a percentage of the profits generated by the User's account when following the Professional Trader's strategy. The exact percentage will be specified in the Professional Trader's profile and will vary depending on the particular Professional Trader being copied.
7.2. Fee Payment Process: The User acknowledges that performance fees will be deducted from their account balance on a regular basis as specified in the Professional Trader's profile. The User authorizes Zenit to deduct these fees automatically and without prior notice.
7.3. In addition to performance fees, the User acknowledges that they will also be responsible for paying slippage fees to Zenit when closing positions and withdrawing funds from their account. These fees will be calculated based on the difference between the price at which the position was closed and the current market price at the time of closing.
7.4. The User acknowledges and agrees that when closing positions, Zenit will liquidate the position on a market order basis. The User agrees that this may result in slippage and additional fees.
7.5. We reserve the right to change the fees charged for copy trading at any time. In the event of any changes, we will notify the user in advance and provide them with the option to opt-out of the copy trading program if they do not agree to the new fees.
7.6. The User will be subject to a penalty fee for withdrawals before one month, unless the time period is specified otherwise by the Professional Trader, in which case, before such specified time period.
7.7. The User will automatically compound the profit or loss generated by the Professional Trader monthly. Zenit offers no option for the User’s to manually decide whether or not to compound the profit or loss.
You also agree to indemnify and to hold us and our Agents harmless from and against any losses, save for losses arising directly from our or their gross negligence, fraud or willful default, which we or they may suffer or incur in connection with the token minting activities.
9.1. We provide our services including our Copy Trade on an “as is” basis. To the maximum extent permitted under applicable law we provide no warranty and make no representations on the quality of our platform and our service. By using our services, you do so solely at your own risk.
9.2. Under no circumstances and under no theory of law (tort, contract, strict liability or otherwise), shall we be liable to you or any other person for any damages arising from the use, the platform, the site, third-party content or any account, regardless of whether such damages are direct, indirect, special, incidental or consequential damages of any character, including damages for trading losses, loss of information, business interruption or lost profits, lost savings, or loss of data, or liabilities under any contract, negligence, strict liability, or other theory arising out of or relating in any manner to the site, the platform, third-party content or any account or for any claim or demand by any third party, even if we knew or had reason to know of the possibility of such damages, claim or demand if the foregoing disclaimer and waiver of liability should be deemed invalid or ineffective.
10.1. We are continuously working to develop and enhance the Platform and Services.
10.2. We reserve ourselves the discretion to amend, limit the access to, or terminate any of the functionalities and services on the Platform.
10.3. We reserve the right to unilaterally, at any time without notice, amend or update these Terms. Your continued use of the Services after any such modifications shall constitute your acceptance of the modified Terms.
No one other than us or you have any right to enforce any of these Terms.
12.2. If a dispute cannot be resolved using our complaint handling procedure or you are unhappy with the outcome, you may want to use alternative dispute resolution.
12.3. Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity or termination, shall be referred to and resolved by arbitration under the applicable London Court of International Arbitration (LCIA) Rules.
12.4. The number of arbitrators shall be a sole neutral arbitrator. The seat of arbitration shall be London. The language of the arbitration shall be English.
The laws of Costa Rica apply to these Terms.