TERMS & CONDITIONS
Haiku Team [We] and the Client [You] agree to these Terms & Conditions:
- While We are fully committed to making profits for You, due to the unpredictable nature of the markets, We don't guarantee any profits. Our business model is based purely on performance bonus, which is the best incentive for us to keep improving our platform and trading strategies, even when it proves to be very profitable already. There will be losing trades. There will be winning trades. All our tests makes us strongly believe that over the long run the profits from winning trades will be far higher than any losses from losing trades.
- Both You and Us can decide to terminate this relationship. You can terminate the relationship only after fully settling any outstanding performance bonus, as described below in point 8.
- Minimum account size is currently set to 100k USD per Client. We reserve the right to increase it in the future for new Clients, but that increase will not affect the existing Clients.
- Maximum account size is not defined at the moment. We reserve the right to trade using only the portion of the account balance, if insufficient liquidity on the market would reduce profits and/or increase risk. If such case arises, We will inform You.
- Selection of Exchange. At this moment, Haiku trades on Bitfinex only, as it is the Exchange that provides the best set of functionality required for margin trading used by our trading strategies. Furthermore, the technical implementation, the execution performance + reliability, and service availability are superior compared to other Exchanges.
- Account portfolio. You can keep the funds on Your account in any combination of fiat and crypto of Your choice, supported by Bitfinex. If needed, We will gladly give You our portfolio recommendation.
- Access to Your account. You will provide Us API key/secret pair to Your trading account. Generate the keys to contain all possible read and write permissions, except for withdrawal permissions.
- Compensation. We will charge 28% performance bonus after each successful trade which creates new profits, according to the high watermark principle. We don't charge any management fee, and never will. We don't believe in charging You for something that doesn't create value. In the future, We will also charge a one-time setup fee to cover the initial efforts to setup Haiku's dedicated instance. This setup fee will later be discounted from the first performance bonus payments due. Early Clients are not required to pay the setup fee.
- Compensation schedule. After every winning trade is completed, We will notify You of the outstanding performance bonus amount. You must complete the payment within 3 business days of notification. Otherwise, the trading activities will be suspended until our balance is settled. Payments should be done in crypto, preferably in ETH.
- Transparency. Since all the funds are on Your account, You will have full real-time transparency on account balance, current and past trades. To check your account, simply login to your account using Bitfinex web or mobile app.
- Risk limitation. You can select the mayday amount. If the net balance on Your trading account drops to the mayday amount, Haiku will automatically close all active orders and positions and shut down its execution, until restarted manually.
- No interfering. You must not place or modify any existing orders on Your account while Haiku is running. Interfering with Haiku could have unforeseen consequences on Your account.
- Partial withdrawals. If You would like to do a partial withdrawal, You need to coordinate it with Us. Reducing account size while positions are open could increase risk and have unforeseen consequences on trading. After a partial withdrawal, the balance on Your account must not be lower than the minimum defined account size.