Amber Markets Copy Trading Terms & Conditions
Amber Markets Copy trading (hereinafter—‘Service’) is a service that allows traders (hereinafter—‘Copiers’) to copy trades from other traders (hereinafter—‘Masters’) and can be activated by selecting ‘Start Copying’. This Agreement sets out the specific terms that will apply to you when using the copy trading functionality on the Amber Markets platforms. The terms in this Agreement apply to you in addition to the General Terms and Conditions, which apply to all of our services and not just to copy trading.
1. What is copy trading
Copy trading is a trading functionality that allows the trader to copy the account of other traders, it is a method that allows traders to copy specific strategies, copy trading links a portion of the copying trader’s funds to the account of the copied investor (Master Trader). Any trading action made thenceforth by the copied Master Trader, such as opening a position, assigning Stop Loss and Take Profit orders, or closing a position, is also executed in the copying trader’s account according to the proportion between the copied Master Trader’s account and the copying trader’s allotted copy trading funds.
The copying trader usually retains the ability to disconnect copied trades and manage them themselves. They can also close the copy relationship altogether, which closes all copied positions at the current market price.
Copy trading is a trading functionality that allows the trader to copy the account of other traders, it is a method that allows traders to copy specific strategies, copy trading links a portion of the copying trader’s funds to the account of the copied investor (Master Trader). Any trading action made thenceforth by the copied Master Trader, such as opening a position, assigning Stop Loss and Take Profit orders, or closing a position, is also executed in the copying trader’s account according to the proportion between the copied Master Trader’s account and the copying trader’s allotted copy trading funds.
The copying trader usually retains the ability to disconnect copied trades and manage them themselves. They can also close the copy relationship altogether, which closes all copied positions at the current market price.
2. Terms & Conditions
2.1 The Service is available on the Amber Markets Meta trader 4 & 5 platforms.
2.2 When using the copy trading services, you agree to use our services.
2.3 The Amber Markets platform provides you with the ability to interact, follow and copy other traders, by using the information, as well as providing you with “copy trading features”. Copy trading features include open trades only.
2.4 As a copier, by placing a copying order, you authorize us to automatically recreate this account for you in your Amber Markets account without any prior consultation, consent, or approval. This will be done on a pro-rata basis with the same products and the same trading instructions (unless such action would be in contravention of Applicable Law). For example, we may start copy trading, stop copy trading, and/or pause the copying of the copied trader, account, set limits to any position, etc.
2.5 Opening copied trades Method:
2.5.1 Copier only copies the trades that were opened by the Master after the subscription for the Master within the Service.
2.5.2 Stop loss/take profit orders will not be visible in the Copier Area, but if these orders are triggered on the master’s account, and the copied trades are also closed.
2.5.3 Upon the subscription to a Master, the Copier specifies the amount of funds to be deducted from the Wallet and invested with the selected Master. These funds and your profit will return to your wallet when you stop copying the Master.
2.5.4 Copiers can set the size of copy proportion for every particular Master, as they can choose to copy the master’s orders in an equal (×1), double (×2), triple (×3), or any other proportion. copying mode, as well as the investment required for start, is selected at the
time of subscription to the Master.
2.5.5 The Copiers’ leverage ratio is determined based on the leverage applied to the type of instruments at Amber Markets. If Copiers is willing to adjust the leverage ratio, he / she send a request in this regard through the client portal, or to contact Customer Support team at Amber Markets Limited.
2.5.6 Once the service is activated, the trades will be copied to the Copier’s account regardless of whether the owner of the account is signed in or not.
2.5.7 The Copier’s order is executed following the order (Buy or Sell) made in the master’s account. When the Master places an order, the signal for opening an order trigger in the Copier’s Account. The Copier’s order is executed at the market’s price. The same
mechanism triggers the order closing. Therefore, the execution prices of these orders may differ. Additionally, the number of Copiers following this Master can affect the execution time.
2.5.8 Copiers can close any copied trade manually at any time in the Copier Area.
2.5.9 Copiers can unsubscribe from the Master and stop copying the master’s trades by clicking ‘Stop Copying’. To unsubscribe, the Copier needs to have all the trades closed. Upon unsubscribing, all the funds invested with the Master, and the profit returned to the Copier’s Wallet.
2.6 Limits Applied
2.6.1 The Minimum volume of the copied trades is 0.01 lots, and the maximum volume is 50 lots Per Click Per instrument.
2.6.2 The minimum copied order volume is 0.01 lots. However, copied orders with a volume below 0.005 lots will be refused, while copied trades from 0.005 lots and above will be rounded to 0.01 lots.
2.6.3 The volume of any order is rounded to the nearest hundredth decimal point (the second digit after the decimal). For instance, if the Copier copies an order for 0.324 lots, the order will be rounded down to 0.32 lots. Vice versa, if the Copier copies an order for 0.325 lots, the order will be rounded up to 0.33 lots.
2.6.4 If the copied trade volume is bigger than 50 lots per click after the calculation is made, then the trade will not be opened on the Copier account.
2.7 If the Master changes equity (by making a deposit or withdrawal) or leverage, all the copied trades maintain their initial volume on the Copier’s account.
2.8 All trading conditions (leverage, swaps, spreads) of the Copiers are similar to the ones for the Amber Markets MT4 & MT5 accounts.
2.9 Classification of trade:
2.9.1 The copy trading service may result in trades in a number of financial instruments. Each trade opened on your behalf as part of the copy trading functionalities will Usually, be classified under the same asset class as classified in the copied account.
2.9.2 If you are restricted from trading a certain asset class or specific product due to Applicable Law or other regulatory requirements, then we will take reasonable steps, where permitted by applicable Law and where our service enables this, to ensure that an equivalent or similar Trade is opened in your account to replace the restricted trade (for example, replacing a CFD Trade with a trade in the underlying product). If the trade is replaced for you, we cannot guarantee that the risk rating and economic performance of the replacement trade will match that of the restricted trade. Where in our sole discretion, we do not replace trade with an equivalent or similar trade for any reason (for example, as a result of a restriction due to Applicable Law or where no suitable replacement exists), your economic performance, risk rating, and other factors may deviate from that of the Amber Markets Copy trader.
2.10 Placing an order:
2.10.1 Before you enter into the copy trade, you will need to allocate the amount of money you Would like to put towards that copy trade. Such an amount shall be allocated in Transactions at the same proportion as it is allocated in the copied account. Your order will be automatically executed, which means we will not obtain your confirmation before the order execution, the opening of such transactions shall not require any prior consultation, consent, or approval. Followers’ copy requests below the minimum volume size will be copied at the minimum volume size.
2.10.2 There are a number of order restrictions when copy trading, including the minimum and the maximum amount that can be invested in any Amber Markets trader is the minimum amount on any single copy trade and the maximum number of traders that you can copy.
2.10.3 When you are using our Amber Markets Copy Trader service, you can choose to copy:
2.10.3.1 All trades which are currently open in a certain account as well as new trades Which are opened after you begin to copy the trader in such account; or
2.10.3.2 Only new trades which are opened after you begin to copy the trader’s account. This means that we will not copy any trades in the trader’s account which were entered into before this point.
2.10.4 If you are copying all trades which are currently open, your position will be opened at the best available price at the time of copying and not the price at the time when the trade is copied was originally opened. If the relevant markets are closed at the time of copying (for example during a market break) a market order will be opened for you and once the market reopens, your order will be executed at the first available price.
2.10.5 you are copying only new trades:
All instructions and actions related to the copied trade will automatically be replicated in your Amber Markets account (subject to the trade size as explained above), including stop losses, take profits, and the closing of trades. For example, if a trader that you are copying extends their stop loss by adding more funds to their account then your stop loss will be adjusted automatically to reflect this. However, your position amount will remain the same as its initial amount.
2.10.6 The copy trading service has a number of other functionalities that we may make available to you from time to time. However, we may add, remove, or change the availability and features of these functionalities, at our discretion.
3. Amber Markets (Service) is entitled to do the
following.
3.1Restrict the number of Master Accounts the master may create at any time without prior notification at its sole discretion.
3.2 Unsubscribe the Copier from the Master without prior notification.
3.3 Reduce the commission set by the Master Trader ( if any) and limit its maximum value for all her or his Master Accounts without prior notification or providing any explanation
3.4 Amend these Terms and Conditions at any time without prior notice to the Copier or Master Trader. Such amendments take effect the moment they are published on the Service site in these Terms and Conditions.
3.5 Monitor the Master Trader’s activity on the platform, mark the Master Trader’s account with the ‘Suspicious activity’ warning if the Master Trader manipulates their statistics, and excludes such accounts from the Master Rating filtered by default (will keep it available for the Copiers who change their filter settings accordingly).
3.6 Amend or delete the master’s nickname and (or) user picture without prior notice if the Service reasonably suspects that such Master deliberately copies or imitates another master’s nickname and (or) picture which may lead to dishonest representation of the Master.
3.7 charge the copy trading accounts with a minimum monthly subscription fee equal to $7 or more.
4. Limitations to Amber Markets copy trading service.
4.1 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 a copy trading service, 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.
4.2 Traders should use any information gathered from our website or copy trading features as a starting point for their own independent research and investment decision-making. However, you should not make investment decisions based on information provided on the Amber Markets platform.
4.3 We will take reasonable steps to monitor the performance of any copied trader under the Amber Markets Copy Trader functionality. We reserve the right to pause, stop, or block any Amber Markets Trader from being copied under the Amber Markets Copy Trader functionality.
5. key risks of copy trading
5.1 In deciding to copy a specific trader or traders, 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 trader or traders as a result of the following:
5.1.1 it will involve automated trading execution whereby trades are opened and closed in your account without your manual intervention
5.1.2 if you manually modify or close an order generated by the Amber Markets Copy Trader functionality, you may achieve a materially different result than the trader that you copied.
5.1.3 copied trades in amounts lower than the minimum trade will not be opened.
5.1.4 if you are copying all trades which are currently open, we will open your position at the best available price at the time of copying and not the price at the time which the trade being copied was originally opened.
5.1.5 cash-out and withdrawals by the copied trader when you are using the Amber Markets Copy Trader functionality may also generate a materially different result than the trader that you copied as it may affect the copy trading proportions. This is due to a number of different factors including starting account balance, minimum trade size, the investor’s account settings, differences in spread, interest, and investment price at the time of investment, and also the difference in fees that may be incurred.
5.1.6 following/copying the trading decisions of inexperienced and/or unprofessional traders.
5.1.7 following/copying traders whose ultimate purpose or intention or financial status may differ from yours; and/or
5.1.8 following and/or copying traders who trade, products restricted as a result of applicable Law in relation to your account and where a replacement equivalent trade cannot be executed may result in the economic performance, risk rating, and other factors relating to your portfolio.
5.2 Amber Markets is unable to provide any guarantee as to the performance of any particular investment product, symbol, instrument, or account.
5.3 Past performance, risk scores, statistics, and any other information with respect to Amber Markets traders under our Amber Markets Copy Trader functionality are not reliable indicators Of Future performance. We do not represent or guarantee that you will achieve profits or losses similar to those shown in the Amber Markets trader that you are copying. We also do not represent or guarantee that the risk score of a trader will accurately reflect the risk of their future performance
6. Fees and costs.
6.1 Master trader fee: The master trader fee may take one of the following forms
6.1.1 Copier’s monthly performance percentage.
6.1.2 fixed monthly fees.
6.1.3Commission per trade.
6.2 Amber Markets ( the service) is entitled to charge the copy trading accounts a monthly maintenance and administration fee equal to $7 or more as a minimum.
7. The Copier undertakes to do the following to apply for the Service.
7.1 Be registered and logged in as a client on the Amber Markets website.
7.2 Add money to the Wallet and maintain add sufficient funds to protect the investment from unexpected market movements. These funds are used to support Copier’s trading strategy when the market fluctuates and do not influence the profit directly.
7.3 initiate copying.
8. Liability.
Subject to Applicable Law, neither Amber Markets nor any affiliates or associate third parties will be Liable
for any losses arising from:
8.1actions were taken by us in order to carry out your written or spoken instructions
8.2 decisions or actions were taken by the Amber Markets trader that you have chosen to copy.
8.3 specific investment decisions or actions taken or omitted in good faith by any copied account; and/or
8.4 Software failure, systems or communications errors, bugs, or viruses relating to the Services and/ or your account.
9. Client Acknowledgments and Signature.
9.1 the Client (Copier) hereby understands the Copy Trading Agreement as interpreted in clause 2 and consents and agrees to all of the terms and conditions of the agreement set forth above.
9.2 By Clicking initiate copying, you hereby confirm and agree to the following:
9.2.1 That you have read, understood, acknowledged, and agreed to all the Company’s Terms & conditions, and this Agreement, are available on the Website.
9.2.2 You confirm that you do not breach any regulation of your country of residence in Trading with the Company.
9.2.3 My / Our electronic signature is considered a legal and official signature and has the Same effect as a hardcopy physical signature.
