Dear Biconomy Users,
In order to standardize market trading behavior and protect the rights and interests of investors, Biconomy Exchange has issued regulations on (Biconomy Partner Management Code) and "Supervisory Standards and Handling Procedures for Abnormal Trading Behavior". Users who engage in illegal arbitrage (including but not limited to brushing fees, anti-commission, hedging, bonuses, etc.) with individual accounts and equipment, the platform will take corresponding measures (including but not limited to) for users who are detected by the system as illegal arbitrage Limited to account title, freezing of assets, withdrawal of commissions, restricted login, real-name authentication, disqualification of partners, etc.).
1. List of abnormal trading behaviors of exchanges
1. Fees for frequent order swiping and malicious swiping;
2. Arbitrage, hedging, and AB warehouse transactions;
3. Ultra-short-term operation;
4. Arbitrage and short-term operations using small currency spreads;
5. Harm other users or platforms by exploiting the loopholes of this service or other unreasonable means.
2. Transaction characteristics of high-frequency brushing and malicious brushing fees
1. With the help of the rebate mechanism of the exchange user's handicap, use ultra-high frequency transactions to carry out transaction arbitrage or fee arbitrage. The number of transactions per day for a single account is 50 (opening + closing is counted as 1 transaction) Those who traded more than 50 times a day in a single account were defined as high-frequency brushing, and those with more than 50 transactions in a single day were classified as malicious brushing.
2. If the daily trading order volume of a single UID is ≥ 50, and the order volume with the order opening and closing period ≤ 5 minutes accounts for more than 50% of the total order volume, the transaction will be banned immediately, and the withdrawal of cash will be prohibited, and all principal and funds will be confiscated. Illegal profit gains, and no complaints of any kind are accepted.
3. If the daily trading order volume of a single UID is between 30-50, and the order volume with the order opening and closing period ≤ 5 minutes accounts for more than 50% of the total order volume, all illegal profits will be confiscated and the principal will be refunded , but you can appeal through the customer service and apply for lifting the trading restrictions.
3. Trading characteristics of knockout, hedging, and AB positions
Using the same account, or multiple associated accounts, in the same period of time with the same product, different directions, and similar proportion of lots, use manual or pending order transactions to open and close positions, so as to use the system mechanism to carry out arbitrage behavior.
4. Characteristics of ultra-short-term trading behavior
In a very short period of time (generally 3-5 minutes), deliberate rapid opening and closing transactions, especially for small currency trading accounts, will be characterized as ultra-short-term transactions. Transactions will be banned immediately, cash withdrawals will be prohibited, all principal and illegal profits will be confiscated, and no complaints of any kind will be accepted.
The above specific parameters are only one of the reference standards. The platform’s risk control technology will automatically identify based on transaction behavior data, and the final interpretation of various violations belongs to the platform. If you have doubts about your account being banned from trading, you can contact the online customer service of the platform at any time.
Risk Warning: There is a high market risk in cryptocurrency investment. Please invest carefully. Biconomy will try its best to select high-quality currencies, but will not be responsible for your investment losses.