All Principal Traders shall take note of and strictly abide by the following terms and conditions. Please note that penalties will be enforced if any of these platform rules are violated.
1. Principal Traders must complete both KYC Lv. 1 and KYC Lv. 2 verification to be eligible for initiating copy trades.
2. Principal Traders can only close open positions via market orders.
3. The max. number of copy trades allowed for each Principal Trader refers to the total number of open positions held by the Principal Trader and all his/her followers. Once this limit is reached, no new copy trades can be initiated by the Principal Trader, nor can they be replicated by his/her Followers.
4. The following penalties will be enforced if the Principal Trader is found guilty of violating any Copy Trading platform rules:
- The Principal Trader Account will be closed
- The Principal Trader can no longer share profits earned by his/her Followers
5. If all open positions under a particular contract have been liquidated, then all copy trading positions under the contract initiated by the Principal Trader and replicated by his/her Followers will be liquidated accordingly.
6. Principal Traders shall not hold losing positions for more than seven (7) days with the intention to manipulate their win-rate performance. For example, positions held for more than seven (7) days with losses of more than 30% can be regarded as performance manipulation. Principal Traders in violation of this rule will be disqualified and banned from the Copy Trading platform.
7. If a Principal Trader hasn’t initiated a copy trade for 14 consecutive days, he or she will lose status as Principal Trader.
8. After ten (10) consecutive failed copy orders, Followers will automatically cease copying the Principal Trader. Followers will also receive an email notification if their copy trade fails due to the following reasons:
- The Follower’s Copy Trading Account has insufficient balance.
- The available balance in the Follower’s Copy Trading Account did not meet the minimum requirement to initiate a copy trade for the contract they’ve chosen.
- The Follower’s order quantity was less than the minimum order quantity limit.
9. When a Follower’s copy trade fails after ten (10) consecutive attempts due to insufficient account balance, the Follower will automatically cease copying the Principal Trader. Principal Traders should refrain from opening too many positions simultaneously in order to avoid insufficient balance issues for Followers.
10. Bybit reserves the right to permanently ban and disqualify Principal Traders who use multiple accounts to place matched orders.
11. Principal Traders shall not apply and/or advocate high-risk trading strategies that may bring additional risk to followers.
12. Principal Traders shall not promise guaranteed profits to followers so as to boost exposure and/or the no. of followers.
13. Bybit reserves the right to permanently ban and disqualify Principal Traders who engage in dishonest or abusive activities, including wash trades and any other activities in connection with fraudulent or harmful purposes.
Source: Bybit Blog
