Binance Managed Sub-Account Terms and Conditions
Last Updated: 09 July 2024
1. Introduction
1.1 This managed sub-account (“MSA”) terms and conditions (“MSA Terms”) constitute a legally binding agreement between you (“you” or “your”) and Binance (“Binance”, “we”, “our” or “us”). You hereby acknowledge and agree that you will be bound by and will comply with this MSA Terms, the Binance Terms of Use (“Terms of Use”) and the Binance Futures Services Agreement (“Futures Services Agreement'') (collectively, the “Terms”). If you do not understand and accept the Terms in its entirety, you should cease using the MSA function.
1.2 Any terms and references used in this MSA Terms which are not defined herein, shall have the same meaning and construction in the Terms of Use or the Futures Services Agreement.
1.3 The services and benefits made available to you by us under this MSA Terms are considered part of the Binance Services.
1.4 Binance reserves the right in its sole discretion to amend or cancel this MSA Terms at any time and for any reason without prior notice.
2. MSA Function and Eligibility
2.1 The MSA function allows trades to be initiated via managed sub-accounts (“Managed Sub-Accounts”) under a master account (“Master Account”). This enables the Master Account owner (“Account Owner”) to retain ownership and control over assets, segregate portfolios and grant trading-only access via API to a designated trader (“Designated Trader”). You may refer to our FAQs for a detailed explanation of the use cases for the MSA function.
2.2 To be eligible to use the MSA function, you must successfully complete all account registration requirements and entity verification checks (as may be required by us) to our sole and absolute satisfaction, including but not limited to, personal or entity verification (as may be applicable), enabling 2FA and meeting any other requirements that may be imposed by us from time to time.
2.3 You hereby represent and warrant to us, at all times that you hold all consents, permissions, authorisations, approvals and agreements of third parties and all authorisations, approvals, permissions, consents, registrations, declarations, filings with any Regulatory Authority, governmental department, commission, agency or other organisation having jurisdiction over you which are necessary or desirable for you to obtain in order to perform all the transactions you undertake, whether as an Account Owner or Designated Trader, under the MSA function.
2.4 Binance reserves the right to amend, change, add new or remove existing features of the MSA function, including but not limited to the functionality of the Master Account and Managed Sub-Accounts at any time, at our sole and absolute discretion.
3. Fees
3.1 The following trading fees will apply to the use of the MSA function:
(i) A fixed trading fee of 500 USDT will be charged to the Designated Trader for each Managed Sub-Account with a monthly average asset balance of less than the equivalent of 100,000 USD.
(ii) The following variable trading fees will be charged to the Designated Trader holding a VIP level of VIP 7 to VIP 9, calculated on a daily basis and billed monthly, for each Managed Sub-Account of an Account Owner that has a lower VIP level than the Designated Trader:
Note however that the applicable “Maker” variable trading fees will be waived where a Designated Trader is part of our Spot, Fiat, USDⓈ-Margined Futures or COIN-Margined Futures Liquidity Provider Program (“Relevant Liquidity Provider Program”).
3.2 The following discounts and rebates will not apply to the use of the MSA function, regardless of which program tier the Designated Trader belongs to:
(i) Managed Sub-Accounts will not be eligible for any rebates offered under any Relevant Liquidity Provider Program.
(ii) Managed Sub-Accounts will not be eligible for any “Taker” discount available under the USDⓈ-Margined Futures Liquidity Provider Program.
3.3 Notwithstanding the foregoing, the trading volumes recorded under the Managed Sub-Accounts will be counted towards the volume requirements of the Designated Trader under the respective “Maker” and “Taker” programs.
3.4 We may issue an invoice to you for all applicable fees in connection with your use of the MSA function, which unless otherwise stated, are payable within 15 days of the date of the invoice. In the event of non-payment or late payment of our fees, we reserve the right to suspend or terminate access to your Binance Account.
4. Indemnity
4.1 You shall further indemnify, keep indemnified and hold harmless Binance for any and all expenses, costs and legal fees (on a full indemnity basis) incurred, including but not limited to expenses, costs and legal fees incurred for producing records, and information, or payment made (whether such payment is or was or is to be made in settlement of any proceedings or in connection with any ruling, judgment, order or award) by any of them in connection with any investigations or proceedings (whether legal, regulatory, arbitration or other proceedings) brought against it in connection with (i) the performance or non-performance of your responsibilities or obligations under this MSA Terms, (ii) your breach or violation of this MSA Terms, (iii) your violation of any rights (including, but not limited to, intellectual property rights) of any other person or entity or (iv) any act or omission of yours that is negligent, unlawful, or constitutes willful misconduct. You shall provide any and all reasonable assistance to Binance in connection with such investigations or proceedings. Binance reserves the right to exercise sole control over the defense, at your expense, of any claim subject to indemnification under this clause. This indemnity is in addition to, and not in lieu of, any other indemnities set forth in agreements between you and Binance.
5. Exclusion
5.1 You hereby agree that, to the extent permitted by Applicable Laws, Binance shall not be liable to you for any indirect, incidental, consequential, special, punitive or exemplary loss or damage, including but not limited to loss of profits, loss of business, loss of goodwill or reputation, and loss of data, arising out of or in connection with this MSA Terms, regardless of the cause of action or the theory of liability, even if notified of the likelihood of such damages.
6. General Disclaimer
6.1 Binance offers the MSA function as a purely technological solution to meet the needs of the Account Owner and Designated Trader. Binance is not a party to any contract entered into between the Account Owner and Designated Trader and does not make any representations, warranties or guarantees regarding the fitness and propriety of either party.
6.2 Binance does not provide any form of investment advice or specific product recommendations.
6.3 Binance does not represent, warrant or guarantee any performance or results. You are solely responsible for all investment decisions made and Binance bears no liability for any potential losses incurred by you. You should only invest in or purchase products where you are fully aware of the potential risks. Prior to any investment, it is crucial that you conduct extensive due-diligence and thoroughly assess your individual financial situation, investment objectives and risk tolerance. Please consider seeking advice from an independent financial advisor where you deem necessary. For more comprehensive information, kindly refer to our Terms of Use and Risk Warning.
7. Technology Disclaimers
7.1 Binance may, from time to time, suspend access to the MSA function for both scheduled and emergency maintenance. Binance endeavors to process transactions on the Platform in a timely manner, however, Binance makes no representations or guarantees pertaining to the completion time of processing, which resides beyond our control.
7.2 As a result of network delay, computer system failures and other force majeure, there may be a delay, suspension or deviation of the MSA function. We will use commercially reasonable efforts, but make no representations or guarantees, that the MSA function will run stably and effectively at all times. We do not bear any responsibility if the final execution does not match your expectations as a result of the abovementioned factors.
8. Miscellaneous
8.1 In the event of any conflict or discrepancy between any translated versions of this MSA Terms, the English language version shall prevail.
8.2 The Terms of Use in their entirety (including but not limited to the provisions in respect of dispute resolution procedures, governing law, binding arbitration and the forum and rules of such arbitration, class action waivers and related matters) are incorporated by reference into this MSA Terms. Accordingly, all rights and protections afforded to us under the Terms of Use shall equally apply and be additional to the rights and protections afforded to us under this MSA Terms.
