To ensure the transaction experience of the community users, regulate market trading behavior, and protect investors' rights, the XT system identifies users engaged in illegal arbitrage (including but not limited to fee brushing and hedging) through multi-dimensional feature recognition. For users detected by the system for illegal arbitrage, the platform will take corresponding measures (including but not limited to identity verification, account suspension, asset freezing, login restriction, etc.).
I. Abnormal Trading Behaviors and Handling Measures as Stipulated by the Exchange
1. Abnormal Trading Behaviors as Stipulated by the Exchange
1.1 Market Overtrading: Abnormal intraday opening trading volume;
1.2 Self-trading;
1.3 Related accounts under actual control exceeding the exchange's position limit;
1.4 Using related accounts for matched orders through means such as back-to-back transactions and manipulating market prices for illicit profits;
1.5 Password theft: Unauthorized users steal others' account credentials or engage in illegal transactions using related accounts to transfer funds;
1.6 Conducting wash trades using accounts and related accounts;
1.7 Unauthorized quantitative or arbitrage transactions;
1.8 Using personal or multiple accounts for AB-subscription trading;
1.9 High-frequency trading or using programs for high-frequency illegal trades;
1.10 Abnormal convergent trading involving actually related accounts;
1.11 Trading accounts on behalf of others;
1.12 Engaging in extremely short-term trading (frequent intraday opening and closing of positions);
1.13 Price manipulation or any other malicious market behavior;
1.14 Exploiting platform vulnerabilities or other unreasonable means to harm other users or XT platform;
1.15 Engaging in any other activities deemed harmful to the market by XT;
1.16 Using multiple devices and accounts for fee brushing, hedging, etc.
2. Opening trading quantity exceeding the intraday trading volume limit set by the exchange
2.1 The daily opening trade volume in certain trading products (including but not limited to XT spot trading, contract trading, and leveraged trading) exceeds the intraday trading volume limit set by the exchange;
2.2 The daily open trade volume in specific trading products (including but not limited to XT contract trading, spot trading, margin trading, and leveraged ETF) exceeds the daily open trade volume set by the exchange. XT will take measures such as account suspension and increased trading fees for actions suspected of disrupting trading order (including but not limited to high-frequency trading, malicious opening positions, inducing others to place orders, etc.).
3. OTC transactions suspected of money laundering, fraud, or malicious trading
3.1 Accounts used by non-owners or on behalf of others for buying and selling currency: When a user is identified by the platform's risk control as selling, leasing, or entrusting their account to others, or acting on behalf of others, suspected of money laundering;
3.2 Receiving or introducing illegal digital assets or funds: Users, knowing or reasonably suspecting that the funds received from other platforms/groups are illicit, still ignore risks and import them into the platform, suspected of money laundering;
3.3 Not binding receipt information consistent with the user's identity verification or providing inconsistent payment channels poses a transaction risk;
3.4 Clicking payment without making it and creating fake transfer records is fraud; or falsely claiming no receipt when funds have been received;
3.5 Frequently canceling orders, adding risk notes, maliciously snapping up low-price orders, etc.;
3.6 Other illegal or unauthorized transactions.
4. Handling Measures for Abnormal Trading Behaviors
4.1 Immediate termination of your account and access to our server, and deduction of abnormal gains.
4.2 Invalidating all trades constituting ultra-short trading activities (i.e., rolling back trade data).
4.3 Closing all trades constituting ultra-short trading activities based on current market prices.
II. Types and Handling Measures of Matched Orders, Wash Trading, AB Subscription, and High-frequency Illegal Trading
1. Types and Characteristics of Matched Orders
1.1 Password theft
Password theft refers to using stolen trading credentials to engage in matched transactions between accounts under one's control, disrupting trading order to transfer funds.
1.2 Matched orders between related accounts
Between two or more related accounts, through premeditated or pre-agreed actions with others, placing identical bid prices at the same time, causing significant loss or profit, thereby transferring client funds to their accounts.
1.3 An entrusted person using matched transactions to transfer funds from client accounts to their accounts using related account trading.
1.4 Criteria for determining related accounts: similar registration times, identical registration IPs, and similar deposit and withdrawal addresses.
2. Types and Characteristics of Wash Trading, AB Subscription, and High-frequency Illegal Trading
2.1 Multiple related accounts simultaneously placing orders on the same products with similar quantities, opening price, and closing price;
2.2 Using one or multiple related accounts to place buy and sell orders for the same products during the same period, utilizing manual or pending order trades to open and close positions;
2.3 Very short-term rapid opening and closing trades.
3. Handling Measures for Matched Orders, Wash Trading and Other Illegal Transactions
According to the exchange's regulations, offending investors will be subject to certain penalties, such as being ordered to rectify, forfeiture of illegal income. For minor breaches, warnings, forced liquidation, and suspension of trading rights may be imposed; for serious violations, public criticism, forced liquidation, account suspension, account freezing, and declared as "market bans" may be enforced. If any conduct is suspected to violate the law of the country, the exchange will transfer the case to judicial authorities for litigation.
XT strictly prohibits unfair trading practices:
If you engage in the following behaviors, XT reserves the right to exercise management control over your account:
- Participating in price manipulation or any other malicious market behavior;
- Possibly harming other users or the XT platform through exploiting service vulnerabilities or other unreasonable methods;
- Engaging in any other activities deemed harmful to the market by XT;
- Using multiple devices and accounts for fee brushing, hedging, etc.