Rules on difference settlement transactions

This transaction rule is for you to understand the transaction method and terms etc. about the difference settlement transaction of the virtual currency which the user performs by this service.
 In addition, the definition of terms in these trading rules shall be in accordance with the terms of use(https://bitking-trading.com/terms_of_service).

1 Trading channel
  • You can trade on our website or dedicated application using the Internet. In addition, we can not accept orders by e-mail or telephone.
     The operating environment is as follows.
      OS: Windows 10 or higher, or MacOS 10.13.6 or higher
      Browser: Chrome 74.0 or higher, Firefox 66.0 or higher, Safari 11.1 or higher, or Edge
      ※ We may change by version upgrades of OS, browser.
2 Transaction summary
  • Difference settlement possible virtual currency:
      Job coin (JOB)
3 rules
  1. Introduction

     A difference settlement transaction is a transaction in which the user deposits a margin with the Company and uses that margin as collateral, and manages many times the amount of the margin according to the user's designated leverage ratio.
     In a difference-settled transaction, the physical currency is never bought or sold. For settlement, you must make sure to reverse trading, and clearing is done by difference settlement.
     The virtual currency difference settlement transaction is not covered by the fund settlement law.

    Leverage ratio  User inputs 1x to 200x (BTC / JOB)
  2. Basic terms for difference settlement transactions

    Position It refers to the condition before doing the opposite trading (settlement). Sometimes called “Open Interest”.
     About buying on a difference-settlement transaction, we call it “long position” and selling on it, we call it “short position”.
    Margin Money to be pledged as collateral to build open positions.
    Margin rate It is a percentage calculated by the following formula.
     1 ÷ leverage ratio
     ※ As for the leverage ratio, users input 1x to 200x
    Necessary margin The margin required to fulfill orders and maintain open positions.
     The required margin amount at the time of order execution is calculated by the following formula.
      Execution price × Execution amount × Margin rate
    Margin during order When a new order is placed as a limit order or stop order, the margin required for the order not filled is said.
     The amount of margin money during order is calculated by the following formula.
     Order Price x Ordered Quantity x Margin Rate
    Real margin
     (net capital Production)
    Substantial assets in a user account that reflect unrealized gains and losses.
    Effective margin Margin This is the amount of margin, necessary margin, order margin, and valuation loss.
    Margin maintenance rate  (Real margin-margin on order) ÷ margin required × 100
     * It is ratio that becomes judgment standard such as loss cut.
    Alert rate In this service, it is set to 75%.
     If the margin retention rate falls below the alert rate, we will notify you by email.
     * Alert notification will be sent for reference of the
      user's open position management,
      but it may be delayed or not
      sent at all due to technical reasons on the system or sudden
      fluctuations in market prices. ,Please be careful. Please
      assume such a case in advance, and trade with a sufficient
      margin from usual times.
     * The alert rate may change at our discretion.
    Loss cut rate  In this service, it is set to 50%.
     If the margin retention rate falls below the loss cut rate,
     all positions held will be settled and all items in the order
     will be cancelled.
     * It will be a complete settlement of the market.
     * The loss cut rate may be changed at the discretion of the Company.
    Valuation loss It means the profit or loss when the open position is evaluated at the current price.
  3. Order for difference settlement transaction

    New  For new orders, we need to deposit the margin in advance.
     You can place new orders within the effective margin.
    settlement  Settlement of open position is due to the difference settlement by opposite trading.
     If you do not settle, every trading day, open position will automatically be carried forward to the next trading day.
     Because of this, it is a transaction without a settlement deadline.
     However, we may set a settlement deadline at our discretion.
  4. Position management fee

     The position management fee is a fee that is generated every trading day when the user holds a new open position and when the open position is carried forward to the next trading day, regardless of fluctuations in currency prices.
     position and when the open position is carried forward to the next trading day.
     Although the amount of position management fee is displayed on the “(7) Fee” and the transaction screen below, it will be determined by the Company according to the environment surrounding the currency.
  5. Margin

     In order to make a difference settlement transaction, it is necessary to deposit a margin in advance to the Company.
     The margin deposited by the user is limited to job coin (JOB). The amount of required margin (order margin and required margin) is calculated by multiplying the actual transaction amount by the margin rate. It will be confirmed at the time of the new order whether the deposited deposit is sufficient.

    Necessary margin
    Margin during
     order
    Order Price x Order Quantity / Leverage Ratio
    Necessary margin Open / sell and reverse buy and sell rates × open quantity / leverage multiple
  6. Loss cut

     In the case of loss cut, if the margin retention rate falls below the loss cut rate, all positions held and all orders being canceled will be canceled to prevent the expansion of losses.
     Since the final settlement price in the loss cut is determined by the market price, the user's loss amount is not fixed until the settlement is completed.
     If the market price changes suddenly, for example, the final settlement price promised may deviate significantly from the price at the time of loss cut execution, so the user may lose more than expected, such as a loss exceeding the amount of the margin deposited with the company. It may occur. Even in such a case, the Company shall not be liable for any compensation or compensation for such loss, and the user shall promptly make a deposit of the lack of margin to the Company. The user agrees to this without objection.

    Loss cut  1 If the margin maintenance rate falls below 50%,
       all positions held will be settled and
       all orders in progress will be canceled.
     2 Loss cut order is done by market.
     3 As a result of loss cut, if the amount of the margin is insufficient,
       all transactions and withdrawals can not be made
       unless the insufficient amount is received.


     If loss cut is not performed due to a system failure etc., users may experience more losses than expected, such as losses exceeding the amount of margin deposited with us. Even in such a case, the Company shall not be liable for any compensation or compensation for such loss, and the user shall promptly make a deposit of the lack of margin to the Company. The user agrees to this without objection.
     If it is confirmed that the user's margin maintenance rate has fallen below the alert rate, an email alert will be sent to the registered email address.
     However, alert notification will be sent for reference of the user's open position management, but it may be delayed or not sent at all due to technical reasons on the system or sudden fluctuations in the market price. . Even in such cases, the Company shall not be liable.

    Loss cut rate  50% 
    Alert rate 75% 

    Loss cut rates and alert rates are subject to change at our discretion.
  7. Fee (including consumption tax)
    1. Transaction fee
       free
    2. position management fee
       free
    3. Deposit and withdrawal fee
       free
       * A small network fee will be charged when depositing or withdrawing.
        This charge is set on a variable basis based on the load on the blockchain.

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