1. How to apply to become a trader?
If you want to apply to become a Bibox trader, you first need to submit relevant information. After submission, the reviewer will conduct the review in accordance with the internal review standards and notify you of the final review results as soon as possible.
2. How to calculate the equity of the strategy trading account
Each morning at 8 AM (UTC+8), Bibox exchange will take snapshot of trader’s account assets.
Equity=Total asset/Total principal (Total principal = trader’s initial assets+∑ followers ‘assets)
3. How to confirm follow-trade share?
After the follow-trade is successful, user’s share will be calculated based on the follow-trade amount and the current net value of the follow-trade account every 10 minutes.
Note: When the net value of trader fluctuates by more than 10%, the follow-trade share confirmation is suspended, and you only need to wait patiently for the recovery.
Purchase share = invested capital / net value of the follow-trade account the next day
4. Follow trading profit formula?
Once you terminate follow trading, the system will return your total assets (in USDT) to your account based on the lot(s) you purchase.
Total asset = Equity upon termination*Lot(s)
Total follow trading profit = (Equity upon termination -total invested) * Lot(s)
5. I want to claim my principal and interest. How do I terminate follow trading?
Copy trading redemption rules:
- * In the current week, redemption applications submitted every Friday to Saturday will be processed by the system on the next Saturday.
- * The system will queue up the redemption application submitted by the user according to the above rules, and your redemption funds and income will be credited to your account one after another, please wait patiently.
- * The system processing time zone refers to UTC+8, and every Sunday is the starting day of the week defined by the system.
- * If the trader processes in advance in "Current Redemption", the redemption funds will arrive in the account within 10 minutes after the processing is completed.
- * When the trader's "copy trading redemption automatic payment" switch is turned on and the trader's account funds meet the redemption capital limit, the redemption funds will arrive in the account within 10 minutes after processing.
- * When the trader's " copy trading redemption automatic payment" switch is turned off, the system will process the redemption application with reference to the "Copy Trading Redemption Rules".
- * Trader's "copy trading redemption automatic payment" switch, the default is off.
6. Do I have to pay for follow trading?
Yes. To incentivize more traders to become strategy traders. Bibox Exchange will distribute 10% of the follow trading profit to the related strategy trader(s).*Traders can set the dividend ratio by themselves, up to 25%.
7. How to operate if the trader cannot be contacted?
After the follow-trade user submits the redemption application, if the trader does not process the redemption for the user on the settlement date, and the user cannot contact the trader, please contact the official Telegram admin: @Bibox_kf. After the official review, the trader will be contacted as soon as possible. If the trader cannot be contacted within 3 working days, the official has the right to make a mandatory redemption for the user to protect the interest of the follow-trade user.
8. Can users apply for redemption in advance?
No.