Dear Users,
To ensure fair trading practices and prevent misconduct such as wash trading and fee farming, MGBX Exchange has introduced the following optimized risk control measures. These rules are designed to maintain market integrity. Violations will be categorized by severity, with penalties ranging from warnings to the forfeiture of illicit profits and principal.
1. Defined Abnormal Trading Behaviors
The following actions are classified as abnormal trading behaviors:
- Ultra-Short-Term Trading: Frequent opening and closing of positions within very short timeframes.
- Excessive Trading: Intraday trading volumes significantly exceeding normal activity levels.
- Market Manipulation: Using associated accounts to manipulate market prices through practices such as matched orders or wash trades to gain illicit profits.
- Self-Trading: Executing trades between the same account or associated accounts.
- Exceeding Position Limits: Combined holdings of associated accounts exceeding the exchange’s specified position limits.
- Unauthorized Account Access: Gaining unauthorized access to other users’ accounts or associated accounts for illicit trades or fund transfers.
- Wash Trading: Engaging in wash trades using personal or associated accounts.
- Unauthorized Quantitative Trading: Using unauthorized quantitative or arbitrage trading strategies.
- A-B Account Trading: Executing A-B trades using personal or multiple accounts.
- High-Frequency Violative Trading: Conducting high-frequency trades or using programs to execute abusive high-frequency trading.
- Abnormal Convergent Trading: Non-standard convergent trading activity between associated accounts.
- Proxy Account Trading: Trading on behalf of another user’s account.
- Price Manipulation: Participating in price manipulation or other malicious market activities.
- Exploiting System Vulnerabilities: Leveraging system loopholes or other unreasonable methods to harm users or the platform.
- Harmful Market Behavior: Engaging in any activities deemed harmful to the market.
- Fee Farming with Multiple Devices/Accounts: Using multiple devices or accounts to farm fees or conduct hedging trades.
- Arbitrage with Minor Tokens: Exploiting funding rates or liquidity in low-cap tokens to conduct systematic irregular trades.
2. Ultra-Short-Term Trading
- Orders held for less than 40 seconds will have rebates and self-rebates settled at 50% of the standard rate.
3. Excessive Trading Behavior
- On a rebate day, if orders held for three minutes and 30 seconds or less account for 50% or more of the total order count or trading volume, rebates and self-rebates for that day will be settled at 50%. Additionally, signal providers will lose their signal-sharing qualifications.
4. Multi-Account Hedging and Other Violations
- If a single account or multiple associated accounts engage in rapid opening and hedging of long and short positions to evade the 40-second or 3-minute-30-second risk control checks, the rebates and commissions will be adjusted according to the excessive trading behavior standards.
5. Exploiting Risk Control Loopholes
- Any trading behavior exploiting risk control loopholes will be treated as excessive trading behavior, with corresponding penalties applied.
6. Appeals and Feedback on Risk Control Actions
- If users have inquiries or objections regarding the exchange’s risk control measures, they can contact customer support or submit relevant documentation to the official support center via email.
Official Support Center Email: Help@mgbx.com
Appeals will be processed from the date of submission, with a maximum response time of 48 hours (excluding public holidays).
7. Special Notes
- The parameters above are reference standards only. The exchange’s risk control system will automatically identify violations based on trading behavior data. MGBX Exchange reserves the right of final interpretation for all abnormal trading behaviors.
- These optimized rules aim to enhance trading fairness and market stability while protecting the legitimate rights and interests of users and agents. MGBX Exchange will continue to adjust its risk control parameters and standards based on operational needs.
8. Risk Reminder
Digital assets are innovative products with high price volatility. Please assess your risk tolerance carefully and make prudent trading decisions.
Thank you for your continued support and trust.
MGBX Team
June 23, 2024
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