1. Trading bots
By participating in trading you acknowledge that you have read, understood and accepted all of the terms and conditions in these terms (the “Trading Bots Terms”), and you acknowledge and agree that you will be bound by and will comply with these Trading Bots Terms. If you do not understand nor accept these Trading Bots Terms in their entirety, you should not participate.
These Trading Bots Terms apply to the use of any trading tools available through the Binance Japan Platform, which enables User to place orders for the execution of spot transactions by way of a predetermined execution methodology (such trading tools “Trading Bots” (alternatively referred to within the Binance Japan Platform as “Strategy Trading” tools)).
The Trading Bots that Binance Japan may make available to User include (but shall not be limited to): Spot Grid Trading, Time-Weighted Average Price (TWAP) and Volume-Weighted Average Price (VP) algorithmic trading tools, Rebalancing Bot and Spot Dollar-Cost-Average (DCA) (each as described further below).
These Trading Bots Terms form part of, and shall be read together with, each of the Binance Japan Terms of Use, the Binance Japan Spot Trading Terms of Use. Capitalized terms used herein but not otherwise defined shall have the meaning given to them in the Service Agreements, as the context requires. Where these Trading Bots Terms stand in conflict with other terms and conditions as set out in the Service Agreement, these Trading Bots Terms shall prevail unless otherwise specified.
2. General disclaimer
In offering Trading Bots to User, Binance Japan is not providing any investment advice or recommending any particular Trading Bot, trading strategy and/or trading parameter as appropriate and/or suitable for User. User shall be solely responsible for determining whether or not to make use of any Trading Bots and for selecting an appropriate feature, trading strategy and/or parameters in light of their investment objectives, risk tolerance, financial situation and needs. Binance Japan makes no representation or warranty as to the outcome of the use of any Trading Bot and will not be liable to User for any loss that might arise from or in connection with their use of any Trading Bot.
3. Spot Grid Trading
User may be permitted to create spot grid trading strategies through the Binance Japan Platform, so as to enable transactions in spot products to be executed automatically by way of algorithm, based on certain parameters as selected by the User (each, a “Grid Trading Strategy”). User acknowledges that the parameters selected will dictate the operation of the applicable Grid Trading Strategy and that User shall be entirely responsible for determining and confirming any parameters selected and/or any applicable execution methodology to be applied to any Grid Trading Strategy, regardless of whether such parameters and/or execution methodology are suggested or pre-populated on the Binance Japan Platform, replicated from an existing Grid Trading Strategy created by another User, or independently populated by User themselves.
Users shall be responsible for ensuring that any Grid Trading Strategy selected or otherwise created is appropriate for Users in light of their own investment objectives and will be consistent with any limitations or conditions that may apply to User with respect to the execution of any transaction. Use of any Grid Trading Strategy is at User’s own discretion and Binance Japan does not determine the suitability of any Grid Trading Strategy or parameter for User or make any representation or warranty that any Grid Trading Strategy will be profitable. Any risk associated with a Grid Trading Strategy resides solely with User, not Binance Japan.
User further acknowledges that the past performance of any Grid Trading Strategy is not indicative of future results and that the future performance of any Grid Trading Strategy may not be profitable or equal to past performances.
Given the associated risks, Users shall be responsible for ensuring that they fully understand the risks of any Grid Trading Strategy and for conducting thorough due diligence to ensure that this feature is suitable for them.
Transactions entered into via a Grid Trading Strategy may incur trading fees. User should consider the impact of trading fees on the performance of the relevant strategy before deciding to use/create any Grid Trading Strategy.
4. Time-Weighted Average Price Algorithm (TWAP) and Volume-Weighted Average Price Algorithm (VP)
Users may be permitted to submit orders for certain transactions based on the use of a Time-Weighted Average Price Algorithm (TWAP) and/or Volume-Weighted Average Price Algorithm (VP) (together, “TWAP and/or VP Orders”).
The risks associated with any TWAP and/or VP Order reside with User, not Binance Japan. In particular, User shall be responsible for setting all relevant parameters of any TWAP and/or VP Order.
User acknowledges that Binance Japan does not guarantee the full execution of any TWAP and/or VP Order and that the execution of any TWAP and/or VP Order is based on factors outside of Binance Japan’s control. For example, if the market price of the relevant Digital Asset(s) referenced by any TWAP and/or VP Order moves considerably or liquidity is insufficient during the execution of a TWAP and/or VP Order, the algorithm may not achieve full completion.
Further, if the market becomes distressed, the algorithm may fail to complete the TWAP and/or VP Order before the specified end time. Thus, execution of any TWAP and/or VP Order is and will always be liquidity-dependent, with no guarantee for best price execution or execution of the order in full.
No representation is being made or implied that submitting any TWAP and/or VP Order will guarantee a better overall execution price than one or more regular market orders. User is responsible for ensuring that User fully understands the risks associated with any TWAP and/or VP Order execution and for conducting thorough due diligence to ensure that this feature is suitable for them.
5. Rebalancing Bot
User may be permitted to use the Rebalancing Bot service available through the Binance Japan Platform to create a trading strategy to automatically execute spot transactions based on certain parameters as selected by User (each, a “Rebalancing Bot Strategy”). User may create a Rebalancing Bot Strategy by selecting applicable trading parameters, confirming or amending the preset category portfolios, and setting applicable rebalancing parameters. Any investment decision, portfolio selection, and parameter selection, in all cases, will be made solely by User.
By providing the Rebalancing Bot service, Binance Japan does not determine the suitability of any portfolio or Rebalancing Bot parameter for User, regardless of whether such portfolio or parameter is suggested or pre-populated on the Binance Japan Platform or independently populated by User. Furthermore, Binance Japan makes no representation or warranty that any Rebalancing Bot Strategy will perform as expected or be profitable for User. Any risk associated with a Rebalancing Bot Strategy resides solely with User. Binance Japan shall not be responsible for any losses incurred in connection with any Rebalancing Bot Strategy.
User acknowledges that the past performance of a Rebalancing Bot Strategy is not indicative of future results and agrees that the future performance of any Rebalancing Bot Strategy may not be profitable or equal to past performance.
Transactions entered into via a Rebalancing Bot Strategy may incur trading fees. User should consider the impact of trading fees on the performance of the relevant portfolio before deciding to use the Rebalancing Bot and setting any relevant parameters.
Category portfolios (referred to on the Binance Japan Platform as “AI Rebalance”) are generated based on relevant Digital Assets’ categories and market caps. Binance Japan assigns one or more categories to each Digital Asset based on the main characteristics of that particular Digital Asset and its associated project.
For category portfolios, Binance Japan compiles preset portfolios for certain Digital Asset categories, encompassing the Digital Assets that make up the top 30% of the relevant category’s total market cap. The number of Digital Assets in a category portfolio will be between 2 and 10. This number depends on the market dynamics within the relevant category. Binance Japan reserves the right to change the methodology for assigning categories and compiling category portfolios at any time at its sole discretion.
Binance Japan makes no representation or warranty about the accuracy of the allocation of categories to Digital Assets or about the representativeness of any category portfolio of the associated sector.
6. Spot Dollar-Cost-Average (DCA)
User can use the Spot Dollar-Cost-Average (“DCA”) bot to place orders in accordance with pre-set parameters. These parameters set by User dictate the operation of the Spot DCA bot. Any parameter selection and investment decision will, in all cases, be made solely by User.
Binance Japan does not determine the suitability of the Spot DCA bot or any Spot DCA bot parameter and makes no representation or warranty that the Spot DCA will be profitable. Any default parameter settings are not recommendations for the relevant parameter and are provided for convenience only. Any risk associated with the Spot DCA bot resides with User, not Binance Japan.
When deciding to use Spot DCA and setting relevant parameters, User should consider that it is not guaranteed that the price of the relevant asset will reach the “exit signal” (i.e. the price that will trigger the execution of the take-profit order) within a particular time frame or at all. User must be comfortable with the risk that they could be entering a position that permanently remains loss-making (including total loss) or only becomes profitable after an extended holding period.
7. Trading Bots Account and Trading Bots Orders
Binance Japan may create a separate account for orders submitted by User through the use of certain Trading Bots (each such account, a “Trading Bots Account”) in order to differentiate the resulting transactions from standard spot and futures transactions entered into by User through the Binance Japan Platform other than through the use of such Trading Bots (which transactions will be recorded against User’s standard Spot or Futures Account (as applicable)). If a Trading Bots Account is set up for User, this will be set up automatically upon the entry by User into a Grid Trading Strategy or transaction (as applicable) pursuant to the use of the relevant Trading Bots, and details of such Trading Bots Account will be visible to User within the Binance Japan Platform.
It is the responsibility of User to monitor each Trading Bots Account set up on its behalf and to ensure that sufficient Digital Assets are allocated to each Trading Bots Account to satisfy any payments due with respect to transactions recorded against such account (including, without limitation, payment of applicable fees and Margin Requirements with respect to the relevant transactions).
User should monitor any Liquidation notices sent by Binance Japan with respect to its activity on the Binance Japan Platform to ensure that User understands which account such liquidation notices relate to. Unless otherwise permitted by Binance Japan, Digital Assets allocated to a User’s standard Spot Account will not be applied to satisfy other payments due with respect to transactions recorded against a Trading Bots Account.
8. Digital Asset Risks
Digital Asset prices are subject to high market risk and price volatility. Prices can fluctuate significantly on any given day. Due to these price fluctuations, your holdings may significantly increase or decrease in value at any given moment and you may not get back the amount you originally invested.
Therefore, User should not trade or invest money they cannot afford to lose. It is crucial that User fully understands the risks involved before deciding to utilize any Trading Bots in light of their own financial resources, level of experience, and risk appetite. If required, User should seek advice from an independent financial advisor. The actual returns and losses experienced will vary depending on many factors, including, but not limited to, market behavior, market movement, and trade size. Past performance is not a guide to future performance. The value of your investments may go up or down. Binance Japan does not provide financial or investment advice. For more information, see Binance Japan Terms of Use and Risk Warning.
