# Start Here Contact & Support Please browse our comprehensive self-service support articles below. If you're in need of direct help please don't hesitate to reach out to our team directly: * For **email support**: \ * For **community support:**\ *** ## **Quick Links:** {% content-ref url="/pages/Y71S7VqGFLSMbR6vrIRi" %} [About Backpack EU](/start-here/about-backpack-eu) {% endcontent-ref %} {% content-ref url="/pages/UlnQtE6NMeMLfEqlneae" %} [FTX EU Claims](/ftx-eu-claims/faqs-english) {% endcontent-ref %} # About Backpack EU Trek Labs Europe Ltd dba Backpack EU is a Cyprus-registered entity, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) to provide investment services and operate with financial instruments pursuant to MiFID II. [Backpack EU](https://eu.backpack.exchange/) is the European arm of Backpack Exchange, a globally regulated and forward-thinking cryptocurrency platform. With a strong commitment to rebuilding trust in the digital asset space, Backpack EU has proudly taken on the responsibility of ensuring the safe return of funds to former FTX EU Ltd clients. Now operating under a MiFIDII regulatory license, Backpack Europe is excited to provide one of the first fully licensed crypto-derivatives exchanges in the EU, including access to regulated perpetual futures and advanced trading products. [Backpack EU](https://eu.backpack.exchange/) provides services exclusively to clients residing within the European Economic Area (EEA). Please find [here](/exchange/account/supported-regions-and-countries) the supported regions & countries. # Trading with Backpack EU Backpack EU is a fully regulated investment company that offers an innovative, easy-to-use, and compliant trading platform. Built on robust real-time risk management technology, Backpack's engine automatically aggregates all user assets into a single, cross-margined environment. With no significant security breaches reported, an active bug bounty program, and strong anti-money laundering protocols in place, Backpack Exchange delivers a compelling trading solution that caters to both casual and active traders. ### Key Trading Advantages #### 1. All-in-One Cross-Margin Account Experience seamless trading with our unified account system that automatically aggregates all your assets into a single, cross-margined environment. This innovative approach maximizes capital efficiency and simplifies portfolio management. #### 2. Comprehensive Trading Solution Backpack Exchange offers a complete trading package designed to meet the needs of all trader types, from beginners taking their first steps in crypto trading to experienced professionals executing complex strategies. #### 3. 24/7 Market Access Trade whenever opportunities arise with round-the-clock market access. Our platform operates continuously, ensuring you never miss important market movements regardless of your timezone. #### 4. Flexible Leverage Options Access flexible leverage capabilities to amplify your trading potential while maintaining control over your risk exposure. *Note: Maximum leverage limits are subject to regulatory requirements and risk assessment.* #### 5. Transparent Pricing Structure Make informed trading decisions with complete price transparency: * Real-time mark prices * Clear funding rate displays * Comprehensive fee disclosures * No hidden costs or surprise charges #### 6. Competitive Fee Structure Benefit from our competitive fee schedule designed to maximize your trading profitability while maintaining the highest service standards. #### 7. Advanced Hedging & Risk Management Protect and optimize your portfolio with sophisticated risk management tools: * Short selling capabilities for downside protection * Leverage options for hedging existing positions * Portfolio risk management features * Price locking mechanisms for strategic planning #### 8. Diversification Opportunities Expand your trading horizons without the complexity of direct asset ownership: * Access various crypto assets through derivatives * Switch seamlessly between spot and futures trading * Adapt quickly to changing market conditions * Build diversified exposure across multiple asset classes ### Regulatory Compliance & Security As a fully regulated investment company, Backpack EU operates under strict regulatory oversight, ensuring your assets and personal information are protected by industry-leading security measures and compliance protocols. *** *Ready to experience these advantages? Explore our platform features and start trading with confidence on Backpack EU.* # Global Regulations **Regulated in Europe by CySEC**\ Trek Labs Europe Ltd is a Cyprus-registered entity, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) to provide investment services and operate with financial instruments pursuant to MiFID II.
**Regulated in the UAE by VARA**\ Trek Labs Ltd FZE is a Dubai World Trade Center Free Zone entity licensed and regulated by the Dubai Virtual Assets Regulatory Authority (VARA) to provide Exchange Services in relation to Virtual Assets.
**Regulated in Australia by AUSTRAC**\ Trek Labs Australia Pty Ltd is an Australian entity registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a Digital Currency Exchange (DCE) provider.
**Registered in the US with FinCEN**\ Trek Labs, Inc. is a Delaware corporation registered as a Money Services Business with the Financial Crimes Enforcement Network (FinCEN). # Contact Help & Support For email support: For community support head to our discord at # Downloads Download official Backpack apps for Exchange and Wallet across your devices. ## Mobile App [![ios-appstore](https://backpack.app/brands/ios.svg)App Store](https://apps.apple.com/us/app/backpack-wallet-exchange/id6445964121) [![android](https://backpack.app/brands/google.svg)Google Play](https://play.google.com/store/search?q=backpack+wallet+and+exchange\&c=apps\&hl=en_US) ![android-apk](https://backpack.app/brands/android.svg)[Android APK Download ](https://mobile.xnftdata.com/backpack-apk-2.39.0+209.apk) *** ## 2FA Apps [![ios](https://backpack.app/brands/ios.svg)Google Authenticator (iOS)](https://apps.apple.com/us/app/google-authenticator/id388497605) [![android](https://backpack.app/brands/android.svg)Google Authenticator (Android)](https://play.google.com/store/apps/details?id=com.google.android.apps.authenticator2\&hl=en) # Exchange # Account # Account Creation & Verification # Create a new account You'll need to register first before you can start trading on Backpack EU. Setting up your account on Backpack EU is simple and straightforward. *** In accordance with national laws and regulatory requirements, the firm is obliged to collect specific information to verify each client’s identity and understand their economic profile. This includes details such as the client’s source of funds, source of wealth, employment status, and industry. These obligations are part of the firm’s duty to ensure responsible and compliant client onboarding. Clients are required to complete the onboarding process, including an appropriateness assessment, in accordance with applicable regulatory and product governance requirements. The financial instruments offered are high-risk and may not be suitable for all individuals. They are generally associated with a level of complexity and risk that may be more familiar to those with relevant knowledge and experience, an understanding of the associated risks, and are both willing and financially able to bear the risk of potential losses. ## Create a new Backpack EU account (Mobile) You'll need to register first before you can start trading on Backpack EU. Setting up your account on Backpack EU is simple and straightforward. ### Download the Backpack mobile application * ‍[iOS App Store](https://apps.apple.com/us/app/backpack-wallet-exchange/id6445964121) * ‍[Google Play](https://play.google.com/store/search?q=backpack+wallet+and+exchange\&c=apps\&hl=en_US) ### Initiate 'Create a new account' #### 1) Input a valid email address * **Note: You will need access to this account later in the registration process.** #### 2) Create a strong and unique password #### 3) Review the User Agreement and Privacy Policy ### Verify your email address You will receive an automatic verification code in your email. Enter this code within 10 minutes. If you don't see the email, check other folders like Spam or Promotions. * ‍**Note: Reach out to Support if the issue persists.** ### Begin the Identity Verification process #### 1) Choose your Country of Residence * [Supported regions and countries](/exchange/account/supported-regions-and-countries) * [Proof of address (POA) submission guidelines](/exchange/account/account-creation-and-verification/account-identity-requirements) #### 2) Enter your Personal Information #### 3) Complete the Investor Profile #### 4) Record Alternative Contact information #### 5) Verify your identity *** ## Create a new Backpack EU account (Desktop) To get started, visit Backpack EU and select 'Sign Up'. **Note: Ensure that you're on the official Backpack EU domain** * ‍[https://eu.backpack.exchange](https://eu.backpack.exchange/) ### Select 'Sign up' and begin creating a new account #### 1) Input a valid email address * **Note: You will need access to this account later in the registration process.** #### 2) Create a strong and unique password * ‍**Note: The password must be a combination of numbers and letters. It should contain 9-20 characters, at least one number, and one upper case.** #### 3) Review the User Agreement and Privacy Policy
### Verify your email address You will receive an automatic verification code in your email. Enter this code within 10 minutes. If you don't see the email, check other folders like Spam or Promotions. ‍**Reach out to Support if the issue persists.**
### Begin the Identity Verification process #### 1) Choose your Country of Residence * [Supported regions and countries](/exchange/account/supported-regions-and-countries) * [Proof of address (POA) submission guidelines](/exchange/account/account-creation-and-verification/account-identity-requirements)
### Begin the Identity Verification process
# Verify Identity (KYC) This guide provides a detailed overview of the required documentation for KYC verification. To ensure the integrity and security of our platform, all individual and institutional customers seeking to trade on Backpack EU must complete our Know Your Customer (KYC) verification process. **Learn more about** [**KYC Verification Requirements here**](/exchange/account/account-creation-and-verification/account-identity-requirements)**.** *** ## Verify Individual Account Identity #### **1) Select the Individual account option type.**
#### **2) Enter your Country of Residence and provide full name, date of birth and address.**
#### **3) Provide details additional details**
#### **4) Complete KYC Requirements** **Note: Have your documentation prepared, you must upload scans or photos of each document and perform a liveness check.**
#### Wait for identity verification to complete **Note:** Verification is not always instantaneous. #### **5) Complete Appropriateness Quiz** After your KYC documentation is submitted, you'll be prompted to complete a brief appropriateness quiz to assess your trading knowledge and experience. *** ## Verify Institutional and Business Account Identity #### To Initiate Verification Process we require the following information: #### **Corporate Documents** * Certificate of Incorporation/Registration (or equivalent) * Certificate of registered office (Please provide a document confirming the registered address of the company (e.g. a recent bank statement of a regulated bank, utility bill, or any government issued document) not more than three (3) months old.) * Certified register of directors ( or equivalent) * Certified register of shareholders (or equivalent) * Memorandum and Articles of Association. (or equivalent) * Group Structure (If the entity is part of a Group, please provide a group structure chart to include: name of the parent entity, country of incorporation of the parent entity, name of subsidiary companies and country of incorporation of subsidiary companies.) * Last audited financial statements * Latest management accounts * Resolution of the Board of Directors of the Client for the opening of the account, confirming directors with signatory rights and granting authority to the authorized representative. * If the registered shareholders act as nominees of the Beneficial Owner, a copy of the trust deed/agreement concluded between the nominee shareholder and the Beneficial Owner, by virtue of which the registration of the shares on the nominee shareholder’s name on behalf of the Beneficial Owner has been agreed. * Anti-Money Laundering Policy **Wait for verification to complete** # Account Identity Requirements To comply with anti-money laundering, sanctions and related laws and regulations, we at Backpack EU need to know our clients a bit better. In accordance with national laws and regulatory requirements, the firm is obliged to collect specific information to verify each client’s identity and understand their economic profile. This includes details such as the client’s source of funds, source of wealth, employment status, and industry. These obligations are part of the firm’s duty to ensure responsible and compliant client onboarding. Clients are required to complete the onboarding process, including an appropriateness assessment, in accordance with applicable regulatory and product governance requirements. The financial instruments offered are high-risk and may not be suitable for all individuals. They are generally associated with a level of complexity and risk that may be more familiar to those with relevant knowledge and experience, an understanding of the associated risks, and are both willing and financially able to bear the risk of potential losses. ‍\ **This is crucial to shield both you and the exchange from the risks of fraud, money laundering, terrorist financing and other risks.** That’s where the KYC (Know Your Customer) checks come in. We’ll ask you for some additional info through a simple on-platform questionnaire. Please read through the requirements based on your country of residence to understand the necessary steps you need to take. ### **Standard KYC Requirements (applicable to most countries):** 1. Provide your full name, date of birth, and address. 2. Provide details about your source of income and occupation. 3. Provide information about your knowledge and experience. 4. Provide details about your economic profile. 5. Provide your Tax Identification number and Tax jurisdiction to meet regulatory reporting requirements. 6. Upload a clear and valid identification document. 7. Complete a liveness check to verify your identity. ### Proof of Identity Requirements To comply with regulatory obligations, you are required to submit a valid passport or national ID card as Proof of Identity. The document you provide must meet the following criteria: * The document must be valid and not expired. * All information must be clear, legible, and fully visible. * The document must not contain any blurred, obscured, or covered data. * Both sides or pages of the document must be submitted. * All four corners of the document must be clearly visible in the image or scan. * The document must be submitted in its original color. **It's vital to ensure that all provided information is accurate and up-to-date.** Incomplete or inaccurate submissions may lead to delays in the verification process *** ## Institutional Account Identity Requirements To ensure the integrity and security of our platform, all institutional customers seeking to trade on Backpack EU must complete our Know Your Customer (KYC) verification process.\ ‍ This guide provides a detailed overview of the required documentation for institutional KYC verification. ### **Required KYC Documentation for Institutions:** #### **1) Country of Incorporation:** *Please specify the country where your institution was incorporated. This will determine specific KYC requirements as they may vary based on jurisdiction.* #### **2) Entity Name:** *Provide the full, legal name of your institution.* #### **3) Trading Activities Location:** *Indicate from which country or region you expect to conduct trading activities on the Backpack EU.* #### **4) Industry Classification:** *Indicate the primary industry or sector your company operates in.* #### **5) Phone Number:** *Provide a valid contact number for your institution.* #### **6) Company Address:** *State the complete physical address of your institution.* #### **7) Company’s Source of Income:** *Detail the primary sources of income for your institution (e.g., sales, investments).* #### **8) Corporate Documents:** * Certificate of Incorporation/Registration (or equivalent) * Certificate of registered office (Please provide a document confirming the registered address of the company (e.g. a recent bank statement of a regulated bank, utility bill, or any government issued document) not more than three (3) months old.) * Certified register of directors ( or equivalent) * Certified register of shareholders (or equivalent) * Memorandum and Articles of Association. (or equivalent) * Group Structure (If the entity is part of a Group, please provide a group structure chart to include: name of the parent entity, country of incorporation of the parent entity, name of subsidiary companies and country of incorporation of subsidiary companies.) * Last audited financial statements * Latest management accounts * Resolution of the Board of Directors of the Client for the opening of the account, confirming directors with signatory rights and granting authority to the authorized representative. * If the registered shareholders act as nominees of the Beneficial Owner, a copy of the trust deed/agreement concluded between the nominee shareholder and the Beneficial Owner, by virtue of which the registration of the shares on the nominee shareholder’s name on behalf of the Beneficial Owner has been agreed. * Anti-Money Laundering Policy #### **9) Ultimate Beneficial Owners (UBOs) with ≥ 25% Ownership:** For any UBO owning 25% or more of the entity: * **Identification:** Upload a clear copy of the UBO's national ID or passport. * **Ownership Attestation:** Confirm that there are no other UBOs owning more than 25% of the entity.\ ‍ **Optional:** If you have additional documents that you believe will assist in the verification process, please feel free to upload them. **It's vital to ensure that all provided information is accurate and up-to-date.** Incomplete or inaccurate submissions may lead to delays in the verification process. ## Proof of address (POA) submission guidelines ### **Understanding Proof of Address** For the Know Your Customer (KYC) process, a Proof of Address (PoA) document is required by Sumsub to verify your residential address. This is a crucial step to ensure the security and integrity of our platform and your financial transactions. ### **What Qualifies as a Proof of Address Document?** Your PoA document must include your full name, your current residential address, and the date of issuance. The document should be recent (typically within the last 6 months) to ensure that the information is current. #### **Acceptable Documents Include:** * Bank statement / Credit Card statement / IBAN certificate * Utility bill (Gas, Water, Electricity, or Internet/ Cable TV bills) * Home insurance policy/certificate * Tax return for latest tax year, tax assessment or tax certificate (Issued within the last 12 months) * Council/municipal tax bill * Government-issued residency / address certificate * Residence permit or registration certificate * Official correspondence issued by a government authority * Property ownership or land registry document * Current lease, tenancy or rental agreement (addl. supporting evidence may be requested) * Driving licence or another government-issued ID displaying residential address\ A different document must be provided for identity verification * Official account statement, address confirmation or another official document issued by a regulated credit or financial institution * Another equivalent document issued by a reliable and independent source #### **Non-acceptable Documents Include:** * Mobile phone bills * Medical bills * Receipts for purchases / Invoices * Insurance statements / Insurance premium statements * Incomplete tenancy / rental / lease agreements #### **Document Requirements:** 1. **First Page:** The document must have your name, address, and date clearly visible on the first page. 2. **One-Page Document:** If possible, the document should be a single page. 3. **Date of Document:** The issue date should be within the last 3 months to ensure the information is up to date. 4. **Legibility:** The document must be clear and easy to read. Blurry, low-resolution, or otherwise illegible documents will not be accepted. **Unaltered:** The document must not be edited or redacted in any way. ### **Accepted File Types and Formats** When uploading your Proof of Address document, please adhere to the following accepted formats. The maximum file size for each document is 50 Mb. **File formats:** * JPEG * JPG * PNG * PDF *** ### Proof of Identity Requirements To comply with regulatory obligations, you are required to submit a valid passport or national ID card as Proof of Identity. The document you provide must meet the following criteria: * The document must be valid and not expired. * All information must be clear, legible, and fully visible. * The document must not contain any blurred, obscured, or covered data. * Both sides or pages of the document must be submitted. * All four corners of the document must be clearly visible in the image or scan. * The document must be submitted in its original color. ### **Having Trouble?** If you encounter any issues or have a document that does not meet the above criteria, you can still submit it for manual review. Our team will examine the document and assist you in completing the KYC process. * **Document larger than one page:** If your document is more than one page or does not meet the guidelines, please upload it anyway.\ ‍ * **Manual Review:** Our team will manually review any document you upload, even if it does not strictly meet the guidelines.\ ‍ * **Contact Us:** If you need assistance or have questions, please feel free to contact our support team at . **Remember, we are here to help you through the verification process.** Your security and privacy are our top priorities. # KYC Identity Verification is pending Backpack EU uses an automated KYC system to complete Identity Verification.\ ‍ In some cases the system flags an account for a manual review by the Backpack Compliance team. * This can take up to seven days during high demand periods. * If your KYC Identity Verification has been pending for more than seven days please reach out to Support via email at ****.**‍** [**Learn how to create a new Backpack EU account here.**](/exchange/account/account-creation-and-verification/create-a-new-account)‍**‍** # Supported Regions & Countries ### Backpack EU serves only clients residing in countries within the European Economic Area (EEA), which includes the following countries: {% columns %} {% column width="25%" %} * Austria * Belgium * Bulgaria * Croatia * Cyprus * Czech Republic * Denmark * Estonia * Finland * France * Germany * Greece * Hungary * Iceland * Ireland {% endcolumn %} {% column %} * Italy * Latvia * Liechtenstein * Lithuania * Luxembourg * Malta * Netherlands * Norway * Poland * Portugal * Romania * Slovakia * Slovenia * Spain * Sweden {% endcolumn %} {% endcolumns %} **Note: Supported regions and countries are subject to change.** # Delete Your Account Backpack EU is committed to safeguarding your personal data and retaining it only as long as law and regulation require. Because we operate in a regulated financial environment, we **cannot delete a verified account or its historical records until the statutory retention period has elapsed** (typically five to seven years, depending on jurisdiction). The sections below explain why and outline the steps you can take to wind down your relationship with us while your data remains in mandatory retention. *** ### Who this guide is for * Customers with a **Backpack EU** account (web or mobile) ### Customer Identity Verification and Data Retention Policy As the data controller, we are legally required under Cypriot law—specifically The Prevention and Suppression of Money Laundering and Terrorist Financing Law—to verify the identity of our customers. This obligation is outlined in Articles 60 and 61 of the law. In addition, Article 68 of the same law mandates that we retain the relevant identity verification data for a period of five (5) years. The documents you provide during the registration process are stored solely for the purpose of fulfilling this legal obligation, in accordance with Article 6(1)(c) of the General Data Protection Regulation (GDPR), which allows for the processing of personal data when necessary for compliance with a legal obligation. Once the five-year retention period has expired, your data will be automatically deleted—no action will be required from you. In addition to our obligations under anti-money laundering laws, we are also subject to other legal requirements, such as statutory retention periods under applicable tax laws. Documents retained for these purposes, including bank and accounting records, may contain personal data. Any personal data we are legally required to retain will be stored exclusively for the duration of the relevant statutory obligations and will not be used for any other purposes. Once these obligations have been fulfilled, the data will be deleted in accordance with applicable legal provisions. We may also retain this communication, including any personal data it contains, for a period of three (3) years, solely for evidentiary purposes. This retention is based on our legal obligation under Article 6(1)(c) of the GDPR, in conjunction with Articles 5(2) and 7(1). #### To clarify: Personal data required under tax or financial legislation is kept only for as long as legally necessary. Such data is not used for marketing, profiling, or any unrelated purposes. After the relevant retention period expires (including the 3-year evidentiary period), the data will be automatically deleted, with no action required from you. **Your Right to Erasure (Article 17 GDPR)** Under Article 17 of the GDPR, you have the right to request the erasure of your personal data. However, this right is not absolute. Article 17(1)(e) provides an exception where data must be retained to comply with a legal obligation under Union or Member State law. **Why we cannot delete your account** Financial‑services regulations—particularly Know‑Your‑Customer (KYC) and Anti‑Money‑Laundering (AML) rules—require regulated exchanges to preserve certain records for prescribed periods. These obligations apply to EU Backpack Exchange. #### Data we must retain | Data | Statutory reason for retention | | ------------------------------------- | ------------------------------------------------------------------ | | Account identifiers (email, username) | KYC / AML record‑keeping (typically 5–7 years) | | Identity documentation | Audit trail, fraud prevention (typically 5–7 years) | | Trade, funding & withdrawal history | Financial‑record retention requirements (typically 5–7 years) | | Linked on‑chain wallet addresses | Permanent part of the transaction record | | Support correspondence | Security verification and legal traceability (typically 5–7 years) | Once the statutory window closes—usually **five to seven years**, depending on jurisdiction—we securely erase or anonymise records wherever law permits. ### Actions available to you 1. **Withdraw assets and close positions** — transfer funds away and settle any open trades. 2. **Cease using the service** — sign out, uninstall the application, and clear browser data. 3. **Opt out of marketing messages** — click “unsubscribe” in any Backpack email. 4. **Request a review** — if you believe special circumstances apply, contact us; we assess each request individually and may deactivate certain functionality on a case‑by‑case basis. Your account will remain inactive, and all retained data will continue to be stored securely with restricted access. *** ### How to Contact Us If you have any concerns about your data or wish to inquire further about account closure or deactivation options, please reach out to us via the following channels: * **Email**: *** *All requests are reviewed individually and carried out in accordance with data‑protection laws and our internal compliance standards. Your information is protected, held only for the legally required period (generally 5–7 years), and never processed beyond legitimate business or regulatory purposes. To learn more about your rights—including access, restriction, or objection—please see our Privacy Policy.*
# Account Functions # Take Profit & Stop Loss Orders (TP/SL) Take Profit (TP) and Stop Loss (SL) orders allow you to close your position once a certain price or profit/loss level has been reached. TP/SL orders are currently only available on futures and use the last traded price (LTP), Mark or Index price as the trigger price. By default, TP/SL orders are sent as market orders upon triggering. Users can set a limit price for their TP/SL orders to control slippage. When a limit price is defined, a limit order at the specified price is created once the trigger price is reached. *** ### Entire Position vs Partial Position TP/SL Backpack offers two types of TP/SL orders: Entire Position and Partial Position. #### Entire Position Entire Position TP/SL means that the quantity of the order is set to 100% of the outstanding position size. If a user sets up an Entire Position TP/SL for an existing position and later increases the size of that position, the TP/SL order will cover the entire updated amount when the trigger price is reached. Entire Position TP/SL can only be created after the position has been opened. #### Partial Position Partial Position TP/SL have a fixed quantity. If a user sets up a Partial Position TP for 1 SOL, and they later increase their position size by an additional 0.5 SOL, the TP will only execute 1 SOL. Moreover, in the case that a Partial Position TP/SL size is greater than the quantity of the outstanding open position (perhaps because the user reduced the position manually), the TP/SL will fill no more than that the open amount upon triggering. *** ### Setting up TP/SL orders There are two ways to create TP/SL orders: 1. On order entry (i.e. when creating an order) 2. On existing positions #### Creating a TP/SL on order entry When submitting an order, you have the option to specify a TP/SL price by checking the TP/SL box. Once you place your order, your TP/SL becomes associated with the parent order and will be created only when the parent order gets filled or partially filled. All TP/SL orders created on order entry are considered Partial Position. This means that if you open a 1 SOL-PERP position with a TP/SL appended to it, the quantity of the TP/SL order will only be 1 SOL. If you submit another order that increases your position size, you must specify a TP/SL price on that order as well if you want it to be covered by a TP/SL. The size of the existing TP/SL order will not increase automatically. You can always create an Entire Position TP/SL after the position is opened, which will cover all subsequent orders for that position. Additionally, if you submit a limit order that sits on the orderbook with a TP/SL associated with it, the size of the open TP/SL order will match the amount that has been filled. This means that if only half of your position has been filled, that amount will be the amount of the open TP/SL order. As the filled size increases, the size of the TP/SL order increases proportionally. To illustrate all of the above, here’s an example: 1. SOL-PERP is currently trading at $130 2. User submits a 10 SOL-PERP limit order at $125 (the parent order), with a TP order of $132. 3. The parent order is placed on the orderbook. The TP order is associated with the parent order, but hasn’t been formally created as the parent order hasn’t been filled yet. This means that if the price of SOL goes up to $132, nothing happens because there isn’t a position open yet. 4. Price hits $125. The parent order gets partially filled by 5 SOL. A partial TP order at $131 with only a quantity of 5 SOL is created (rather than the full 10). 5. Price dips below $125, which means that the remaining 5 SOL is filled, and size of the TP order at $131 increases by 5 (for a total of 10). 6. Price roses above $131. TP is triggered and a market order is sent for 10 SOL-PERP. #### Setting up TP/SL on open positions Once a position is open, you can set up a TP/SL in the Positions tab by clicking on the edit icon. A modal will show up where you can create an Entire Position and/or Partial Position TP/SL. If you close a position manually, all associated TP/SL orders are cancelled as well. *** ### Additional Notes 1. While the Last Traded Price is used as the trigger/reference price for TP/SL, please note that the margin system uses the Mark Price for all equity calculations, as well as the estimated liquidation price. 2. The Estimated Liquidation Price displayed on the platform is only an estimate. It can change based on market volatility, funding rates, and your account’s margin balance. 3. For maximum flexibility, users are able to set up SL orders below the estimated liquidation price. 4. Once your Maintenance Margin reaches 100% and liquidation begins, the system will automatically cancel all open orders, including Stop Loss and Take Profit orders, please note that is recommended leaving a reasonable buffer between your Stop Loss (SL) and the estimated liquidation price. 5. You may create Conditional Orders that are not associated with any position. \ **Note: To avoid confusion or unexpected closures, always monitor your margin health and plan accordingly.** # Export trading history (CSV) ### 1) Open your Portfolio
### 2) Switch to Trades tab
### 3) Select Export
### 4) View file in the browsers download menu
# Order types and executions When trading on Backpack EU, it's crucial to understand the different types of orders you can place. **This guide will walk you through each order type and its purpose to help you execute your trading strategy effectively.** *** ## Order Types ### Market Order * **Type:** Market * **Description:** A market order is executed immediately at the best available current price. * You specify the quantity of the asset you want to buy or sell, and the trade executes at the prevailing market price. * **Key Points:** You must specify either a **quantity** or **quoteQuantity** when placing a market order. * No price setting is needed; the order will fill at the best available price. * Market orders are subject to slippage in fast-moving markets. ### Limit Order * **Type:** Limit * **Description:** A limit order allows you to set a specific price at which you want to buy or sell an asset. * This order type guarantees the price but not the execution. * **Key Points:** You need to set both a **price** and **quantity** for a limit order. * The order will only execute if the market price reaches your set limit price. * A limit order can be a 'maker' order if it doesn't match immediately with an existing order, adding liquidity to the market. ### Post Only * **Field:** postOnly * **Description:** This is a conditional flag for limit orders that ensures the order will be added to the order book and not match with a pre-existing order. * If it would match, the order is canceled instead. * **Key Points:** * Ensures the order will be executed as a maker order, contributing to market liquidity. ### Time In Force * **Field:** timeInForce * **Options:** GTC, IOC, FOK * **Description:** This determines the length of time your order will remain active before it is executed or expires. * **GTC** (Good 'Til Canceled): The order will stay active until it is filled or manually canceled. * **IOC** (Immediate or Cancel): The order must be executed immediately, and any unfilled portion is canceled. * **FOK** (Fill or Kill): The order must be filled in its entirety immediately, or it is entirely canceled. ### Self-Trade Prevention * **Field:** selfTradePrevention * **Options:** RejectTaker, RejectMaker, RejectBoth, Allow * **Description:** These settings prevent you from matching an order with another one of your own orders. * **RejectTaker**: Cancels the taker side of the trade if it matches with one of your existing orders. * **RejectMaker**: Cancels the maker side of the trade if it matches with one of your existing orders. * **RejectBoth**: Cancels both sides of the potential self-trade. * **Allow**: Allows both sides of the self-trade to execute. ### Trigger Price * **Field:** triggerPrice * **Description:** This is used for conditional orders, such as stop-limit orders. * The **triggerPrice** is the price at which your limit order becomes active on the order book. *** ## **Detailed API Documentation** For the specifics of each order type and to understand the complete range of order functionalities, please refer to our comprehensive API documentation at[ **https://docs.backpack.exchange**](https://docs.backpack.exchange/) Understanding these order types and conditions will enhance your trading experience on Backpack EU. Choose the order type that aligns with your trading goals and market conditions. # Generate API keys for Backpack EU ### 1) Open your Portfolio *
### 2) Switch to Settings tab
### 3) Switch to the API Keys tab & select 'New API Key' button
### 4) Name the new API key and select 'Create' button, in order to create the API Key you’ll need to enter your authenticator app code ![](https://lh7-rt.googleusercontent.com/docsz/AD_4nXfvoid11HMRS2WsKHbep-AVfF4h2QEV1bE6uLPVHviEEkID_FksNjmbvPYAK-d2ZVUEj2C7FzcE4EpMhYOMsf-cAgB2wLrfRMri-9n7oMIF7L58Hif0CDZXrcuuM4GuuTde1_q1?key=h9gIpItByWCtk-oY-lUgiwK0) **Note:** The Read Only button restricts the API key’s permissions to view-only access. ### 5) Record your API key and API secret in a secure location ![](https://lh7-rt.googleusercontent.com/docsz/AD_4nXdnKwXwUiBOdLb0tlfmnie-lTxZCxduQEwhoOL4IX114c3bfHoDrMaBbAKnt14vxrRe9XZX-BLB60fsrJsgtKAHrrUCQN3X0--DLIcJFRzBkDWUnpLY4Z88L7Tkd0cBcrNlc0fG0g?key=h9gIpItByWCtk-oY-lUgiwK0) # Deposits and Withdrawals Stay tuned! Coming soon! # Deposits and Withdrawals # Crypto # How to Deposit There are several ways to Deposit crypto to your Backpack EU account. *** ## Deposit via Exchange wallet address ### 1) Open the Deposit menu
### 2) Choose the cryptocurrency you wish to Deposit Search for the token if you don't see it in list.
### 3) Copy the wallet address
### 4) Paste the address into your sending platform and initiate the transfer (from a non‑custodial wallet or exchange) *** ## Deposit via subaccounts ### 1) Open the Deposit menu
### 2) Choose the cryptocurrency you wish to Deposit
### 3) Enter Deposit amount and **Select the 'From' sub-account and the 'To' sub-account.**
### 4) Click the 'Transfer' button.
# How to Withdraw Withdrawals are fast and easy on Backpack EU. *** ## How to Withdraw ### 1) Open the Withdraw menu
### 2) Choose the cryptocurrency you wish to withdraw and enter the amount
Note: If your available balance is insufficient, enabling margin will redeem outstanding lends or create a borrow to cover the withdrawal. If your balance is sufficient, enabling margin does nothing. ### 3) Enter the destination address or open 'Address book' and select address
### 4) Enter your 'Email verification code' and 'Authenticator app code', select Submit button ![](https://lh7-rt.googleusercontent.com/docsz/AD_4nXd5M9KJPfARRhjIrVBmv7WO4G9W6_6VODLayHMSrUhDvMG0YBalTztAvodM3P0Ki_yDmyqSQQbcUWivACLemUO4RMfedw0u1yWsK2oGvUrS4oGqLPji_UhRNtChZzvkOc09Qjb2Tw?key=h9gIpItByWCtk-oY-lUgiwK0) # Deposit & Withdrawal Issues Facing issues while processing deposits or withdrawals can be frustrating, but worry not – this guide is designed to help you navigate through the most common problems and their potential solutions.‍ **Cryptocurrency Deposits & Withdrawals** If your crypto deposit or withdrawal is pending for more than one hour, please contact Backpack Support at . *** ### **Deposits** #### **Delayed Transactions** * Cryptocurrency transactions necessitate a certain number of confirmations on the blockchain, and during times of network congestion, this process might extend beyond the usual duration. You can monitor the transaction status using a blockchain explorer for the respective cryptocurrency. * Verifying that you’ve deposited a supported asset to the correct address is crucial, as errors here could lead to a loss of funds. #### **Minimum Deposit Requirements** * Some cryptocurrencies have specific minimum deposit requirements. Depositing below this limit could result in the funds not being credited to your account. #### **Solutions for Deposit issues** * Before initiating a transaction, double-check the deposit address to ensure it corresponds with the asset you are sending. * If your deposit isn't reflected in your account after an extended period, even though it’s confirmed on the blockchain, contact our support team at with the transaction ID for further assistance. *** ### **Withdrawals** #### **Receiving Issues** * Withdrawals, like deposits, require a certain number of network confirmations, and this might take more time during peak network activity. * Confirming the accuracy and compatibility of the recipient's address with the asset you are sending is crucial. #### **Pending Status** * A withdrawal marked as “Pending” indicates it is under review according to our security protocols. This is a standard procedure to safeguard your funds #### **Solutions for Withdrawal issues** * To track the status of your withdrawal, use the provided transaction ID on a blockchain explorer once the transaction is processed. * For transactions that are unusually delayed or stuck in pending status, please reach out to our support team with the relevant withdrawal details. *** ### **General Recommendations** * Utilize 2-factor authentication to enhance the security of your account. * Stay informed about any ongoing maintenance on Backpack EU or the network of the cryptocurrency involved, as this could impact transaction processing times. Sticking to these tips will definitely make your transaction experience on Backpack EU smoother and hassle-free. # Withdrawal Fees We’ve recently introduced dynamic withdrawal fees and limits on Backpack. These are now updated every 12 hours based on notional market prices to ensure fairness and efficiency across supported networks. *** ## **Current Estimated Withdrawal Fees** | Asset | Network | Approx. Fee | | ----- | --------------------- | ------------ | | SOL | Solana | 0.005 SOL | | USDC | Solana | 0.6 USDC | | ETH | Ethereum | 0.0016 ETH | | USDC | Ethereum | 3 USDC | | BTC | Bitcoin | 0.000118 BTC | | BTC | Solana (Coinbase BTC) | 0.000007 BTC | These fees are estimated and can vary slightly with each update. *** ### **How Often Are Fees Updated?** Withdrawal fees and limits are automatically updated every 12 hours, factoring in real-time price fluctuations and blockchain activity. This helps maintain a balance between affordability and network security. *** If you have any questions or notice anything unusual, feel free to contact our support team at . # Fiat Our fiat solution enables you to deposit and withdraw USD via SWIFT wire transfers directly to and from your personal bank account, providing seamless global fiat access (subject to jurisdictional restrictions). *** ### Is this service available in all countries? Due to regulatory requirements, our fiat services are not available in certain jurisdictions. Please refer to the list below for countries and regions where fiat deposits and withdrawals are currently not supported: * Afghanistan * Belarus * Central African Republic * Crimea / Sevastopol Region / Luhansk / Donetsk / Kherson / Zaporizhzhia / Dnipropetrovsk Oblast / Kharkiv Oblast * Cuba * Democratic People’s Republic of Korea (North Korea) * Democratic Republic of the Congo * Gaza * Iran * Libya * Myanmar (Burma) * Nicaragua * Russian Federation * South Sudan * Syria * United States * UAE * Venezuela * Zimbabwe *** ### Can I link a business bank account? Individual accounts must use personal bank accounts only. For business accounts, onboarding as a corporate client is required. Contact support for assistance. *** ### Can I use fintech platforms (e.g., Wise, Revolut)? Yes, but only if: * The account is in your name * The platform supports named SWIFT USD transfers * The transfer isn't from a pooled or anonymous account Note: These platforms may reject transactions based on their own policies. *** ### Will I need to provide additional documentation? To comply with regulatory and banking partner requirements, you may be asked to provide extra information such as: * Proof of source of funds (e.g., recent bank statement) * Purpose of transaction (e.g., “crypto trading”) * Any other compliance-related documents \ Please respond promptly to avoid processing delays. # How to Deposit via Wire ### Overview | Item | | | ------------------- | ------------------------------------ | | **Currency** |

EUR via SEPA
USD via SWIFT

| | **Minimum Deposit** | 100 EUR or USD | | **Processing Time** | Typically 1–3 business days | | **Fees** | 0 EUR/USD | > \*Backpack charges no fee for sending or receiving EUR/USD wires. Your sending/ intermediary bank may apply its own charges, which are outside our control. *** ### Prerequisites * ✅ **Verified Backpack EU Exchange account** * ✅ **Available USD or EUR balance in your Bank Account** *** ## Step-by-Step Guide ### Get Your Backpack Wire Details * Log in to [eu.backpack.exchange](https://eu.support.backpack.exchange/) * **Open the Deposit modal** In the top-right corner, click Deposit
* Select **Cash (USD)** → **Wire Transfer** ***Note: The minimum deposit is $100, and we accept EUR or USD.***
* Click **Continue** * Choose to deposit in **USD** or **EUR** * **USD:**
* **EUR:**
*** ## **Copy your bank details** You’ll see everything you need on the “Wire transfer” screen: * Account name * SWIFT/BIC * IBAN / Account number * Reference (include this exactly to credit your account) * Bank name & address * Recipient address *** ## **Send the wire from your bank** From your personal bank account, initiate a SWIFT transfer using the details above. Make sure: * The sending account is in *your* name (third-party transfers are rejected). * You send USD or EUR. ⚠️ **Important:** Deposits must come from a bank account in your name. Third-party deposits are not supported. *** 🎉 **All done!** Your USD or EUR deposit is now on its way to Backpack. Need help or have questions? Reach our support team anytime at . \ Be sure to include your reference code for faster assistance. # How to Withdraw via Wire ### Overview | Item | | | ---------------------- | --------------------------- | | **Currency** | USD via SWIFT | | **Minimum Withdrawal** | 100 USD | | **Processing Time** | Typically 1–3 business days | | Fees | 0 USD\* | > \*Backpack charges no fee for sending or receiving USD wires. Your intermediary / receiving bank may apply its own charges, which are outside our control. *** ### Prerequisites * ✅ **Verified Backpack EU Exchange account** * ✅ **Available USD balance in Backpack EU Exchange** * ✅ **Your Bank Account Number** *** ## Step-by-Step Guide ### Log in to Backpack and Open Withdrawal Menu * Log in to [eu.backpack.exchange](https://eu.backpack.exchange/) * Click on **Withdraw**
* Select **Cash (USD)**
**Add or select a bank account** * If you haven’t added a recipient before, click **"Select Recipient"** → click **Add Bank Account** : * Bank identifier type * SWIFT/BIC for most international wires * IBAN/Account Number * Recipient details: * Recipient Type (Individual / Business) * Name, address, city, postcode * Bank details: * Bank name, branch address, city, postcode, country * Intermediary bank SWIFT/BIC (Optional) * Click "Add bank account to save"
### Submit Your Withdrawal * Enter the withdrawal amount (**Minimum: USD 100**) * Select the **account** you wish to withdraw from (if applicable) * Choose your saved **bank account** from the recipient list * Click **Continue** * Complete **2-factor authentication** to confirm and submit your withdrawal *** ### Track Your Funds * Funds typically arrive in your bank account within **1–3 business days** * If the funds haven't arrived after 3 days, contact Backpack Support and provide your withdrawal reference *** 🎉 **That's it!** Your USD withdrawal is now on its way to your bank account. Need assistance? Our support team is always here to help at . Please include your withdrawal reference for quicker support. # FAQs # Deposit ### What details do I need for a wire transfer? We provide: * Account name * SWIFT/BIC * IBAN / Account number * Sort code (if applicable) * Reference (include this exactly to credit your account) * Bank name & address * Recipient address Please ensure accuracy to avoid delays. *** ### How long does a USD deposit take? Deposits typically take **1–3 business days**, depending on your bank and intermediary banks. *** ### Can I deposit from another person's bank account? No. We only accept deposits from bank accounts in your own name. Third-party deposits will be rejected or returned, potentially incurring additional fees. *** ### My deposit hasn't arrived—what should I do? If a deposit doesn't appear after **3 business days:** 1. Confirm with your bank that the wire was sent successfully. 2. Verify that all wire details and required reference codes were included. 3. Contact our support with your wire receipt and bank confirmation. *** ### What happens if my deposit is rejected? Rejected deposits (e.g., due to name mismatch or missing reference) are typically returned to the sending bank, potentially incurring third-party fees and delays. *** ### Will I need to provide extra documentation? In some cases, our banking partner or your own bank may request additional details—for example: * Purpose of transaction (e.g. “crypto purchase”) * Proof of source of funds (recent bank statement) * Any other compliance documentation
If you receive such a request, please reply promptly with the information to avoid processing delays. # Withdraw ### How long do USD withdrawals take? Withdrawals via SWIFT usually arrive within **1–3 business days**, subject to your bank and intermediaries. *** ### What if I enter incorrect bank details? Incorrect or incomplete banking details may result in: * Delayed, returned, or lost funds * Additional recovery fees Always ensure your information is correct and updated. *** ### Why was my transaction delayed, suspended, or canceled? Transactions can be delayed or suspended due to compliance or risk checks by our banking partners, requiring additional documentation. If additional information is needed, we'll request: * Proof of bank ownership (recent 3-month bank statement) * Source of funds * Purpose of transfer or other relevant documentation ⚠️ **Important:** Respond promptly to these requests to avoid delays, returned funds, or account restrictions. # Bank Guides # Chase # How to Deposit via Wire Transfer — Chase Bank This guide shows you exactly how to wire USD from your Chase Bank account to Backpack Exchange ### Overview | Item | | | ------------------- | --------------------------- | | **Currency** | USD | | **Minimum Deposit** | 100 USD | | **Processing Time** | Typically 1–3 business days | *** ### Prerequisites * ✅ **Verified Backpack Exchange account** * ✅ **Chase online banking or mobile app access** * ✅ **Available USD balance in your Chase checking account** *** ## Step-by-Step Guide ### 1. Access Your Backpack's Wire Deposit Details * Log in to [Backpack.exchange](https://backpack.exchange/). * Select **Deposit**
* Select **Cash** → **Wire Transfer** → click **Continue**.
Review the deposit instructions, login to your bank to send a wire transfer and copy across the wire details (Account/Recipient Name, Address, SWIFT/BIC, IBAN/Account Number, Reference Code). Note: You must include your unique Reference Code in the wire memo/details
*** ### 2. Initiate a Wire Transfer (Part 1): Add Recipient Bank Details **💻 On the Chase Website:** 1. Sign in at [chase.com](https://chase.com/). 2. Select **Pay & Transfer** (top navigation bar). 3. Select **Wires & global transfers.** 4. Select **Add a recipient.** 5. Choose **Payment Purpose** → Investing in cryptocurrency. 6. Select **Add recipient bank**. 7. Enter the **Recipient bank details** (see bank info above).
* Enter the **Recipient Business details** (see Backpack info above).
* Confirm the details are correct and select **Add recipient.**
### 3. Initiate a Wire Transfer (Part 2): 1. Select **Schedule a Wire**. 2. Select **Recipient** (Recipient info you added above) → **Next**. 3. Enter the amount you want to send. 4. Enter your unique **Reference Code** (see above) in the **Message to recipient** field. 5. Click **Next**. 6. Review the wire transfer information and select **Authorize wire in U.S. Dollars (USD).**
**📱 On the Chase Mobile App:** 1. Log in and tap **Pay & Transfer** (bottom navigation bar). 2. Tap **Wires & global transfers** 3. Tap **International → Schedule a wire**. 4. Select **Recipient** (Recipient info you added above) → **Next** 5. Enter the amount you want to send 6. Endter your unique **Reference Code** (see above) in the **Message to Recipient** field 7. Click **Next** 8. Review the wire transfer information and select **Authorize wire in U.S. Dollars (USD)** > **Tip:** If you can't see **Wires & global transfers**, first navigate to **Pay & Transfer → Manage recipients** and accept Chase’s wire agreement. The option will then appear. *** ### 4. Complete and Submit Your Wire * Enter the amount (**Minimum: USD 100**). * Review any Chase wire fees. * Complete 2-factor authentication and submit your wire. *** ### 5. Confirm Your Deposit * Your funds typically arrive in your Backpack account within **1–3 business days**. * If funds aren't credited after 3 business days, contact both Chase and Backpack Support. Provide your wire confirmation receipt. *** 🎉 **All done!** Your USD deposit is now on its way to Backpack. Need help or have questions? Reach our support team anytime at . Be sure to include your wire transfer reference for faster assistance.
# How to withdraw via wire — Chase This article guides you step-by-step on how to withdraw USD from your Backpack Exchange account directly to your Chase Bank account using a SWIFT wire transfer. ### Overview | Item | Details | | ---------------------- | ------------------------------------- | | **Currency** | USD via SWIFT | | **Minimum Withdrawal** | 100 USD | | **Processing Time** | Typically 1–3 business days | | **Incoming Wire Fee** | Chase may charge approximately USD 15 | *** ### Prerequisites Before you begin, ensure you have: * ✅ **Available USD balance in Backpack Exchange** * ✅ **Your Chase Bank Account Number** * ✅ **Chase Bank SWIFT code:** `CHASUS33` *** ## Step-by-Step Guide ### 1. Log in to Backpack and Open Withdrawal Menu * Log in to [Backpack.exchange](https://backpack.exchange/). * Click on **Withdraw**
* Select **Cash (USD)**.
*** ### 2. Find Your Chase Wire Details * Log in to your [Chase account](https://chase.com/). * Select your **checking account** from the dashboard. * Click the **… (three-dot) More** menu. * Select **Account & routing numbers**. * Locate your eight-digit **Account number** under "Wire transfers." * Confirm the SWIFT/BIC as `CHASUS33`. > **Note:**Please make sure to use the routing number for wire transfers, not ACH transfers.
*** ### 3. Add Your Chase Account in Backpack (First-Time Setup) * In Backpack withdrawal modal, select **"Select Recipient"** → click **Add Bank Account**.
* Enter your details exactly as listed by Chase | Field | Value (Example) | | --------------- | ------------------------------ | | **Country** | United States | | **SWIFT / BIC** | CHASUS33 | | **Account No.** | Your Chase Account Number | | **Name** | Exactly as registered on Chase | | **Address** | Exactly as registered on Chase | * Click **"Add Bank Account"** to save. *** ### 4. Withdrawing Fudns * Enter Withdrawal Amount: Specify the amount you wish to withdraw (minimum USD 100). * Select Sub-account: If applicable, choose the sub-account from which to withdraw. * Choose Recipient: Select your saved Chase account as the withdrawal recipient. * Continue: Click the "Continue" button at the bottom of the page. * Confirm Withdrawal: Complete the 2-factor authentication process to finalize and submit your withdrawal request. *** ### 5. Track Your Withdrawal * Withdrawals generally take 1–3 business days to reach your Chase account. * If you haven't received your funds after 3 business days, please contact Backpack Support with your withdrawal reference number. *** 🎉 **That's it!** Your USD withdrawal is now on its way to your Chase account. Need assistance? Our support team is always here to help at . Please include your withdrawal reference for quicker support. # ZA Bank # How to Deposit via Wire Transfer — ZA Bank This quick guide shows you exactly how to wire USD from your ZA account to Backpack Overview | Item | | | ------------------- | --------------------------- | | **Currency** | USD via SWIFT | | **Minimum Deposit** | 100 USD | | **Processing Time** | Typically 1–3 business days | *** ### Prerequisites * ✅ **Verified Backpack Exchange account** * ✅ **ZA Bank online/mobile banking** * **✅ USD in your ZA Bank account** *** ## Step-by-Step Guide ### 1. Get Your Backpack Wire Details * Log in to [Backpack.exchange](https://backpack.exchange/). * Go to **Deposit**
* Select **Cash (USD)** → **Wire Transfer** → click **Continue**.
Copy Account Name, SWIFT/BIC, IBAN / Account Number (where applicable), and Account Name, Reference Code.
*** ### 2. Start Overseas Remittance in ZA Bank * Open your **ZA Bank app**. * Select **Transfer** from the homepage.
* Tap **Global Transfer**
* Enter the amount you’d like to transfer (**minimum $100 USD**). * Make sure the receiving currency is set to **USD**.
ZA Bank utilizes Wise to facilitate international remittances. You will be redirected to Wise to securely complete the recipient’s bank details and confirm your payment.
### 3. Enter Backpack Exchange Bank Details On the Wise interface provided by ZA Bank, enter the following Backpack wire details exactly as they appear in Backpack: | Field | Value (Example) | | ----------------------- | ----------------------------------- | | **SWIFT/BIC** | *(paste from Backpack)* | | **IBAN/Acct No.** | *(paste from Backpack)* | | **Account Name** | *(exactly as provided by Backpack)* | | **Memo/** **Reference** | *(paste Backpack reference code)* | * After filling in these details, confirm the information and continue.
> Note: Bank information is based on Backpack and Wise details provided at the time of the transaction. Always verify the latest details before proceeding. *** ### 4. Confirm and Authorize the Transfer * Review the fees (if applicable), then tap Confirm. * Authorize the transaction using Face ID or your PIN. *** ### 5. Track Your Deposit * Your deposit should arrive in your Backpack account within **1–3 business days**. * If your funds haven't been credited after 3 business days, contact Backpack Support and provide your wire details. *** 🎉 **Great work!** Your deposit is on its way. If you encounter any issues, our support team is available 24/7. Contact us at , and please include your wire details for quicker assistance.
# How to Withdraw via Wire Transfer — ZA Bank This article guides you step-by-step on how to withdraw USD from your Backpack Exchange account directly to your ZA Bank account using a SWIFT wire transfer. Overview | Item | Details | | ---------------------- | --------------------------- | | **Currency** | USD via SWIFT | | **Minimum Withdrawal** | 100 USD | | **Processing Time** | Typically 1–3 business days | *** ### Prerequisites Ensure you have: * ✅ **Available USD balance in Backpack Exchange** * ✅ **ZA Bank Account details for receiving SWIFT transfer** *** ## Step-by-Step Guide ### 1. Visit Backpack and Open Withdrawal Menu * Log in to [Backpack.exchange](https://backpack.exchange/). * Click on **Withdraw** in the top right
* Select **Cash (USD)**.
*** ### 2. Collect Your ZA Bank Account Details * Open your **ZA Bank app**. * Tap the **profile icon** (top-left corner).
* You can copy your bank account number from this section
* For details on Overseas Remittance, refer to the[ ZA Bank FAQ](https://bank.za.group/hk/support/details?title=%27\&PFAQ=Individuals-transfer\&FAQ=Inward-Overseas-Remittance).
*** ### 3. View and Download You ZA bank e-Statement *(supporting information)* 1. **Tap your profile avatar** on the ZA Bank home screen. 2. Select **e‑Statement & e‑Advice**.
3. Choose **e‑Statement** from the list.
4. Select the **latest month** (or the month your wire should arrive). 5. Tap the **download icon** at the top‑right corner.
6. Press **Download / Share** to save the statement as a **PDF** to your phone or cloud storage.
Attach the e-statement as supporting information in the next step. *** ### 4. Add Your ZA Bank Account in Backpack (First-Time Setup) * In the Backpack withdrawal modal, select **"Select Recipient"** → click **Add Bank Account**.
* Enter your details exactly as listed in ZA Bank: | Field | Value (Example) | | ----------------------- | --------------------------------------------------------------------- | | **Country** | Hong Kong | | **SWIFT/BIC** | AABLHKHH | | **Account No.** | *(Paste your ZA Bank Account Number)* | | **Bank Name** | ZA Bank Limited | | **Bank Address** | ZA Tower, 131 Queens Road Central, HK | | **Postcode / Zip code** | Enter *00000 (Hong Kong does not use postal codes for domestic mail)* | > Note: Bank information is provided for reference only and has been extracted from the [ZA Bank FAQ](https://bank.za.group/hk/support/details?title=%27\&PFAQ=Individuals-transfer\&FAQ=Inward-Overseas-Remittance). Please double-check and verify the latest details directly with your bank before proceeding with any wire transfer. * After entering details, click **"Add Bank Account"**.
*** ### 5. Submit Your Withdrawal * Back in the Withdrawal screen, enter the amount you wish to withdraw (**Minimum: USD 100**). * Select the **Sub-account** you wish to withdraw from. * Choose your saved **ZA Bank account** from the recipient list. * Click **Continue**. *** ### 6. Track Your Withdrawal * Funds typically arrive in your ZA Bank account within **1–3 business days**. * Backpack support may reach out via email to request proof of funds. We accept crypto-native proofs, such as transaction hashes for earnings, transfer confirmations from exchanges (with matching names), Backpack's trading history, and more. * If funds aren't credited after 3 business days, contact Backpack Support and provide your withdrawal details. *** 🎉 **Done!** Your withdrawal is successfully initiated. If you encounter any issues, our support team is available 24/7 at . Please include your withdrawal details for prompt assistance. # Wise # How to deposit via wire — Wise This quick guide shows you exactly how to wire USD from your Wi account to Backpack ### Overview | Item | | | ------------------- | --------------------------- | | **Currency** | USD via SWIFT | | **Minimum Deposit** | 100 USD | | **Processing Time** | Typically 1–3 business days | *** ### Prerequisites Ensure you have: * ✅ **Wise account** and available funding method * ✅ **Backpack Exchange wire details** (SWIFT, IBAN, Account Name, Reference Code) *** ## Step-by-Step Guide ### 1. Get Your Backpack Wire Details * Log in to [Backpack.exchange](https://backpack.exchange/). * Go to **Deposit**
* Select **Cash (USD)** → **Wire Transfer** → click **Continue**.
**Copy:** * SWIFT/BIC * IBAN/Account Number * Account Name * Reference Code
*** ### 2. Send USD via Wise * Log in to your Wise account (website or app). * Click on the green **"Send Money"** button. * On the "How much would you like to send?" screen, choose your **Source currency** (local currency or USD if funded) and set the **Target currency** to USD. * Click **Continue**. * Select **"Business or Charity"** recipient (required as Backpack is a business). * On the **New recipient** screen, select **Bank account details**. * Set the **Country of bank** to **United Kingdom**. * Enter Backpack’s **Beneficiary Name**, **IBAN**, and **SWIFT/BIC**. * In the **Payment reference / Message** field, paste your Backpack **Reference Code**. * Choose your payment method, review fees, and click **Send** to complete the transfer. *** ### 4. Track Your Deposit * Wise will display real-time status updates: **Processing → Sent**. * Funds usually appear in your Backpack account within **1–3 business days**. * If the transfer hasn't been credited after 3 business days, contact Wise and Backpack Support with your wire details. *** 🎉 **Great work!** Your deposit is on its way. If you encounter any issues, our support team is available 24/7. Contact us at , and please include your wire details for quicker assistance.
# How to withdraw via wire — Wise This article guides you step-by-step on how to withdraw USD from your Backpack Exchange account directly to your Wise Bank account using a SWIFT wire transfer. ### Overview | Item | Details | | ---------------------- | --------------------------- | | **Currency** | USD via SWIFT | | **Minimum Withdrawal** | 100 USD | | **Processing Time** | Typically 1–3 business days | *** ### Prerequisites Ensure you have: * ✅ **Wise USD Balance** with account details enabled * ✅ **Available USD balance in Backpack Exchange** *** ## Step-by-Step Guide ### 1. Log in to Backpack and Open Withdrawal Menu * Log in to [Backpack.exchange](https://backpack.exchange/). * Click on **Withdraw**
* Select **Cash (USD)**.
*** ### 2. Collect Your Wise Receiving Details * Open your Wise account. * In the **Home** tab, select your **USD balance**. * Click **Account details** to view: * **Account Number** * **Wire routing** * **SWIFT/BIC** * **Full legal name and address** * Copy these details for use in Backpack. *** ### 3. Add Your Wise Bank Account in Backpack (First-Time Setup) * In Backpack withdrawal modal, select **"Select Recipient"** → click **Add Bank Account**.
| Field | Value (Example) | | --------------- | ------------------------------ | | **Country** | United Kingdom | | **SWIFT/BIC** | CMFGUS33 | | **Account No.** | *(Paste from Wise)* | | **Name** | *(Exactly as on Wise account)* | | **Address** | *(Exactly as on Wise account)* | * Click **"Add Bank Account"** to save. *\[Screenshot placeholder – Backpack add bank account form]* *** ### 4. Submit Your Withdrawal * Enter the amount you wish to withdraw (**Minimum: USD 100**). * Select the **Sub-account** you wish to withdraw from. * Choose your saved **Wise Bank account** from the recipient list. * Click **Continue**. * Complete **2-factor authentication** and confirm your withdrawal. *\[Screenshot placeholder – Backpack withdrawal confirmation screen]* *** ### 5. Track Your Withdrawal * Funds should arrive in your Wise account within **1–3 business days**, minus any inbound fee charged by Wise. * If funds are not received within 3 business days, contact Backpack Support with your withdrawal details. *** 🎉 **Success!** Your withdrawal is now processing. Need help? Contact our support team at . Remember to include your withdrawal details for quick assistance. # Login and Security # Change Email At Backpack EU, safeguarding your account security is our top priority. If you wish to change the email associated with your account, we have a stringent identity verification process in place to ensure the protection of your information. **It can take up to 48 hours to complete a reset. Deposits and Withdrawals will be disabled during the verification period.** *** ## How to change email address for Backpack EU **To proceed with the email change request, please submit the following information to** [**support@eu.backpack.exchange**](mailto:support@eu.backpack.exchange) ### **1.** Perform Sumsub Liveliness verification * After receiving a response from Support, follow the link provided and complete the identity verification on Sumsub.**‍** ### **2. Full Name and Address Confirmation** * **‍**Provide the full name and address currently associated with your Backpack EU account. ### 3. Email Address Confirmation * Provide the old email address associated to your Backpack EU account and the new email address you want to link with. ### **4. Source of Income** * Share details regarding your primary source of income or occupation for verification purposes. ### **5. Transaction Details** Furnish as many specific details of all transaction and trades within your account as possible, including without limitation. * Date of the transaction * Name of the asset involved * Quantity of the asset transacted * Transaction hash or identification number *** ## **Process Overview** Upon receiving the requested information, our team will initiate a 48-hour hold on your account. This hold period allows us to verify the provided details thoroughly and ensure the security of your account.\ \ **Deposits and Withdrawals to your Backpack EU account will be disabled during the verification period.** Once the information is verified and the hold period expires, we will proceed with processing the email change request associated with your account with Backpack EU. *** ## **Contact Customer Support**‍ Should you have any questions or need further clarification regarding the email change process, please reach out to our customer support team at . We are available to assist you throughout this process and ensure a smooth experience. At Backpack EU, we are committed to maintaining the security and integrity of your account. Thank you for your cooperation and understanding as we work together to enhance your account security. # Reset Password Forgetting your password can be frustrating, but we have made the process of resetting it straightforward. **Note: Please be aware that for your security, withdrawals may be temporarily disabled for 24 hours after a password reset.**\ ‍ **Here's a step-by-step guide to help you regain access to your account:** ## **1) Access the Login Page** * [Visit the Backpack EU login page](https://eu.backpack.exchange/).\ ‍ * If you can't remember your password, don't worry. Just look for the "Forgot Password" link. ## **2) Click on "Forgot Password"** * Once you click on the "Forgot Password" link, you'll be directed to a new page. ## **3) Enter Your Email Address** * On the reset password page, you'll be prompted to enter the email address associated with your Backpack EU account.\ ‍ * After entering your email, click on the "Next" button. ## **4) Check Your Email** * Backpack EU will send you an email with a link to reset your password.\ ‍ * Open the email and click on the "Reset Password" link. ## **5) Follow the Prompts** * Once you click on the link, you'll be taken to a page where you can set a new password.\ ‍ * Make sure to choose a strong password that you haven't used before. ## **6) Access Your Account** * With your new password set, return to the Backpack EU login page and sign in using your email and new password **And that's it! You've successfully reset your password and can now continue using Backpack EU.**\ **‍**‍ Remember to keep your password safe and consider using a password manager to store it securely. # OTP Passcode The most common fixes for OTP (One Time Pass) code issues: 1. Look for OTP code in your 2FA app (not email). 2. Sync your 2FA app device and Exchange login device to the same timezones. 3. Do you have multiple 2FA apps downloaded? Make sure you're checking in the correct one. 4. Make sure to open exchange using either our mobile app or desktop browser. (We don't currently support web on mobile.)\ ‍ **If you cannot resolve OTP issues after verifying the above solutions please reach out to Support via ** # Enable 2FA 🔐 Enabling 2FA is one of the most effective ways to keep your account and funds safe. We strongly recommend activating 2FA immediately after registration. 1. Log into your Backpack EU account, click the **Settings** button in the top right corner, and select **Security**.
2. Under the **2FA** section, click **Enable**, then enter the one-time passcode (OTP) sent to your registered email and click **Submit**.
3. Scan the QR code with an authenticator app (e.g., Google Authenticator), then enter the **Verification Code** in the field below and click **Verify**.
🎉Setup complete! # Reset 2FA **To proceed with the 2FA change request, please submit the following information to** [**support@eu.backpack.exchange**.](mailto:support@eu.backpack.exchange) **Note, it typically takes \~48 hours to complete a 2FA reset.** *** ## 1) Send an email to Support * Enter ***2FA reset***, ***2FA restore*** or something similar in the Subject line **Please note:** Requests for resetting Two-Factor Authentication (2FA) must be made from an email address registered to your Backpack EU account.\ ‍ **If Support does not respond via email within \~48 hours, then follow up with another email request.** *** ## 2) Perform Sumsub Liveliness verification After receiving a response from Support, follow the link provided and complete the identity verification on Sumsub. *** ## 3) Reply in email thread with requested identification documents This includes but is not limited to: ### **Full Name and Address Confirmation** * Provide the full name and residential address currently associated with your Backpack EU account. ### **Source of Income** * Share details regarding your primary source of income or occupation for verification purposes. ### **Transaction Details** * Furnish as many specific details of all transaction and trades within your account as possible, including without limitation: * Date of the transaction * Name of the asset involved * Quantity of the asset transacted * Transaction hash or identification number *** After completing the Sumsub Liveliness verification and providing requested information, Support will initiate the 2FA reset. # I suspect unauthorized access to my account If you believe someone has accessed your Backpack Exchange account without your permission, follow these urgent steps. ## Here's what to do: ### **1) Change Your Password Immediately:** * Log in and navigate to 'Settings' to update your password with a strong, unique combination. * [**Visit Backpack Exchange here.**](https://eu.backpack.exchange/)
### **2) Enable Two-Factor Authentication (2FA):** * If not active, head to 'Security Settings' to set up 2FA using a reliable app like Google Authenticator. ### **3) Review Account Activity:** * Check your transaction history for any unfamiliar actions or transactions. * Contact us at [**support@eu.backpack.exchange**](mailto:support@eu.backpack.exchange) detailing your concerns immediately. Include any unusual activity you've noticed. *** ## Recognize and avoid phishing attempts To safeguard your Backpack EU account, it's crucial to recognize and prevent phishing attempts follow these steps. ### **1) Verify the URL** * Always ensure you're accessing the official Backpack EU site: [https://eu.backpack.exchange](https://eu.backpack.exchange/) * Double-check the URL, especially before entering any credentials. **Note:** [**Official links to all Backpack Exchange and Backpack Wallet channels are located here‍**](https://backpack.app) ### **2) Beware of unsolicited communications** * Suspicious emails or messages claiming to be from Backpack EU should be treated with caution. We will never ask for your password or 2FA codes under any circumstances. If anyone asks you to provide your password or 2FA code, they are a scammer. ### **3) Examine email senders** * Double-check the sender's email address. Phishers may use addresses that look similar but have small alterations. ### **4) Avoid clicking on suspicious links** * Do not click on links or download attachments from unknown or unverified sources. Hover over links to view their destination URL before clicking. ### **5) Report suspicious activity** * If you encounter anything suspicious related to Backpack EU, contact our support at immediately. **Your online safety is vital.** By staying informed and cautious, you can protect your account and assets from potential threats. # Troubleshoot connectivity issues Experiencing connectivity issues with Backpack Exchange? Follow these troubleshooting steps to resolve the problem. *** ## Troubleshoot connectivity issues ### **1) Check the Backpack Exchange's official channels** * Visit Backpack Exchange's [social media](https://x.com/Backpack), it is the [official announcement channel](https://discord.gg/backpack) if there are any reported outages or scheduled maintenance.\ ‍ * Verify the status of Backpack Exchange using the [official status tracker](https://status.backpack.exchange/).
### **2) Refresh your browser** * Sometimes, a simple refresh can solve minor connectivity hitches. ### **3) Clear browser cache and cookie** * Accumulated cache and cookies might cause outdated data or glitches. Clear them to potentially resolve connectivity issues. (Refer to our guide on "**How to clear browser cache and cookies**" for step-by-step instructions.) ### **4) Try a different browser or device** * Switch to another browser to see if the issue persists. This can help determine if the problem is browser-specific.\ ‍ * If possible, try accessing Backpack Exchange from another device. ### **5) Check your internet connection** * Ensure you have a stable internet connection. You can check this by visiting other websites or using online speed tests.\ ‍ * Consider restarting your router or contacting your Internet Service Provider (ISP) if you suspect connectivity issues on their end.\ ‍ **If, after trying the above steps, you still face connectivity issues, reach out to us at** [**support@eu.backpack.exchange**](mailto:support@eu.backpack.exchange) **for further assistance.**\ **‍** We're here to help ensure you have a seamless trading experience. *** By clearing your cache and cookies regularly, you ensure that Backpack Exchange runs smoothly and loads the latest version of the site without any hitches. ## **Clear browser cache and cookies** For an optimal experience on Backpack Exchange, it's occasionally necessary to clear your browser's cache and cookies. Follow the steps below based on your specific browser. ### **Google Chrome:** * Click the three dots (or vertical ellipsis) in the top right corner. * Select "More tools" > "Clear browsing data." * Choose "Cookies and other site data" and "Cached images and files." * Click "Clear data." ### **Mozilla Firefox:** * Click the three horizontal lines (hamburger icon) in the top right corner. * Select "Options" > "Privacy & Security." * Under "Cookies and Site Data," click "Clear Data." * Ensure both "Cookies and Site Data" and "Cached Web Content" are checked, then click "Clear." ### **Microsoft Edge:** * Click the three dots in the top right corner. * Choose "Settings" > "Privacy, search, and services." * Under "Clear browsing data," click "Choose what to clear." * Select "Cookies and other site data" and "Cached images and files," then click "Clear now." ### **Safari (Mac):** * Click "Safari" in the top left menu, then select "Preferences." * Go to the "Privacy" tab and click "Manage Website Data." * Click "Remove All" and confirm. *** ## My Backpack Wallet screen is not loading In some cases the [**Backpack Wallet**](https://download.backpack.app/BQcg/i4uu9wj4) can display a blank screen or will not load. If this condition occurs then you should: ### Extension 1. Verify that the extension is updated to the most recent version. 2. Turn the extension on and off in the browser extension menu. If those actions do not solve issue then you may need to reinstall the extension. **Note: Ensure that your Seed Phrase or Private Keys are saved and available before trying to reinstall and import your wallets.** ### Mobile 1. Verify that the app is updated to the most recent version. 2. Force close the app and re-open. Repeat this multiple times if needed. If those actions do not solve issue then you may need to reinstall the app.\ ‍ **Note: Ensure that your Seed Phrase or Private Keys are saved and available before trying to reinstall and import your wallets.** # Perpetual Futures Trading FAQs Perpetual futures on Backpack Exchange let you go long or short on major crypto assets with leverage and no expire date. You can keep a position open as long as you manage margin and funding costs. *** Perpetuals trading services are provided by Trek Labs Europe Ltd (formerly FTX EU Ltd), registration number HE335683, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. Trek Labs Europe Ltd (formerly FTX EU Ltd) is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 273/15. The company operates through[ https://eu.backpack.exchange](https://eu.backpack.exchange) (formerly[ http://www.ftx.com/eu](http://www.ftx.com/eu) and[ https://ftxeurope.eu)](about:blank) and uses the trade name Backpack EU (formerly FTX EU). *** **Looking for in-depth walkthroughs? Check out our Backpack Guides and Tutorials at** [**Learn.Backpack.Exchange**](https://learn.backpack.exchange/) **or our trading system docs** [**here**](https://guide.backpack.exchange/)**.** *** ### What is a Perpetual Futures Contract (“PERP”)? Perpetual futures are derivative contracts that track the price of an underlying asset but have **no expiry date**. You can hold them indefinitely, use leverage, and potentially profit from both rising and falling markets (for long and short positions respectively) without owning the underlying crypto. ### **How do I execute a PERP trade on Backpack EU?** To execute a PERP trade: 1. **Log in** to your Backpack EU account and navigate to the [Futures Trading section](https://eu.backpack.exchange/trade/BTC_USDC_PERP).**‍** 2. **Choose your trading pair** (e.g., BTC-PERP).**‍** 3. **Select your order type** (market or limit order).**‍** 4. **Set your leverage and size**, then Buy/Long or Sell/Short.\ Your position appears instantly in the Positions panel, and PnL updates in real time. Your trade will be processed based on your order specifications and current market conditions. ### How do funding payments work? Perps use an “index‐based” **Mark Price** and an 1-hour **funding interval**. * If the perpetual trades above the index, longs pay shorts; if below, shorts pay longs. * Funding occurs every hour. * You’ll see funding accrued in your PnL panel before it settles in your balance. ### How is margin calculated and when will my position be liquidated? Liquidations are triggered when your **Maintenance Margin** (based on Mark Price) hits the auto-close threshold. Your **Maintenance Margin Ratio (MMR)** must stay below 100 %. If Account Equity ÷ Position Notional ≥ MMR falls to 100 %, the liquidation engine will begin to close positions and/or sell collateral in an orderly fashion, The system first attempts to close via the order book, then, if needed, taps liquidity providers to protect against negative balances. Note: Maintenance margin requirements vary by asset. ### What’s the difference between stop-limit and stop-market orders? * **Stop-Limit:** Converts to a **limit** order once your trigger price hits. Execution is guaranteed only if there’s matching liquidity at your limit price. * **Stop-Market:** Converts to a **market** order upon trigger, guaranteeing execution but at the best available price (which may suffer slippage). ### How do I adjust my leverage? * Leverage is controlled by your **Max Account Leverage** setting in **Portfolio → Sub-accounts**. * Lowering max leverage widens your maintenance buffer; raising it lets you open larger notionals against the same collateral. ### How are trading fees calculated on perps? Perpetual futures share the same maker/taker tier schedule as spot. Maker fees apply when you add liquidity (post a limit order that rests); taker fees apply when you remove liquidity. Fees are deducted in USDC at order execution.\ Check our [fee structure](/exchange/trading-fees) for the most up-to-date information on trading fees. ### **What should I consider before placing a PERP position?** Before clicking **Buy/Long** or **Sell/Short**, run through a quick mental checklist: make sure your **leverage and position size** are small enough that an ordinary price swing won’t liquidate you; confirm you have **sufficient liquid collateral** in the sub‑account.\ \ Note your **Maintenance Margin Ratio (MMR)** and the estimated liquidation price to leave a comfortable volatility buffer; check the **funding rate direction** so you’re not surprised by continuous payments that erode PnL; gauge **order‑book depth and market volatility** to anticipate slippage on entry and exit; pre‑define an **exit plan** with stop‑loss and take‑profit triggers (use Reduce‑Only and Conditional orders so they can trigger while you’re offline) ensuring the position **aligns with your broader strategy** whether hedging spot, capturing a basis, or taking a directional view. ### What are the risks associated with Perpetual Futures trading?  Perp contracts amplify both gains and losses because they are highly leveraged instruments: even a 1 % adverse price move can translate into a double‑digit loss on a 10× position. If your **Maintenance Margin Ratio** falls to 100 %, the liquidation engine will automatically close positions—often at the worst possible moment. Continuous **funding payments** add another layer of risk; being on the wrong side of a persistent positive or negative rate can drain your balance even when price drifts sideways. During periods of extreme volatility or thin liquidity, large market orders may experience **slippage**, widening entry or exit prices beyond expectations. Because Backpack settles PnL in real time, profits are swept into your balance—great when you’re winning, but it also means unrealised losses materialise quickly and eat into collateral. Finally, technical disruptions.\ \ Understanding these intertwined risks—and sizing positions conservatively—remains essential to long‑term survival in perp markets.
# Benefits of Trading Perpetual Futures (Perps) Perpetual contracts offer unique advantages that make them an attractive trading instrument for both experienced traders and newcomers to the derivatives market. ### Key Benefits #### 1. No Expiry Date Perpetuals have no expiry - you can hold a position indefinitely, unlike standard futures which settle at a fixed date. This gives traders complete flexibility over their position timing without worrying about rollover dates. #### 2. Simplicity in Settlement Settlement is continuous, avoiding the sometimes-complex mechanics of expiry and physical/spot settlement found in traditional futures. This makes perpetuals easier for beginners to understand and trade. #### 3. Efficient Leverage Perpetuals offer lower capital requirements to open large positions, providing traders with more efficient use of their capital compared to spot trading. #### 4. Funding Rate Mechanism Instead of futures "premium/discount", perps use a funding rate system: * Payments are exchanged between longs and shorts, keeping the perp's price anchored to spot * This reduces price divergence from the underlying spot market, keeping trades "fairer" over time #### 5. 24/7 Trading Crypto perps trade 24/7, allowing traders to access markets continuously without being restricted by traditional market hours. #### 6. Hedging and Speculation Perps are ideal for both hedging long-term spot exposure and for speculation on short-term price moves, thanks to continuous trading and margin efficiency. #### 7. Transparent Pricing Because of the funding rate and index price anchoring, perps often track more closely to the underlying spot market compared to illiquid, off-market futures. This provides traders with more accurate and transparent pricing. *** *Start trading perpetual contracts to experience these benefits firsthand.* # Product FAQs Backpack offers a Spot Margin trading product, Futures trading product, and Borrow/Lending market. Check out these FAQs for quick answers to our most commonly asked questions product questions. *** **Looking for in-depth walkthroughs? Check out our Backpack Guides and Tutorials at** [**Learn.Backpack.Exchange**](https://learn.backpack.exchange/) **or our trading system docs at** [**Guide.Backpack.Exchange.**](https://guide.backpack.exchange/) *** # Spot Trading FAQs Spot trading on Backpack Exchange involves buying or selling cryptocurrencies for immediate settlement. Spot trading is ideal for those looking to own the underlying asset or trade without leverage. *** All crypto spot trading and custody services are provided by Trek Labs Pty Ltd, an Australian corporation, ABN 36 666 858 466. Please see our Terms of Service, Privacy Policy and associated agreements located here [https://eu.support.backpack.exchange/legal.](https://eu.support.backpack.exchange/legal].) *** ### **How do I execute a spot trade on Backpack Exchange?** To execute a spot trade: 1. **Log in** to your Backpack Exchange account and navigate to the [Spot Trading section](https://eu.backpack.exchange/trade/BTC_USDC_PERP).**‍** 2. **Choose your trading pair** (e.g., BTC/USDC).**‍** 3. **Select your order type** (market or limit order).**‍** 4. **Enter the amount** you want to buy or sell and confirm your order. Your trade will be processed based on your order specifications and current market conditions. ### **What types of orders can I place in spot trading?** On Backpack Exchange, you can use: * ‍**Market Orders**: These execute immediately at the best available market price. * ‍**Limit Orders**: These only execute at a specific price or better, giving you more control over the trade price. * **Conditional Orders**: These are triggered when specific conditions are met, allowing for more automated trading strategies. ### **How is the price of an asset determined on Backpack Exchange?** The price of an asset on Backpack Exchange is determined by supply and demand in the order book. Buyers and sellers place bids and asks, and when a match occurs, a trade is executed at that price. Market dynamics, trading volume, and external factors can all influence price movements. ### **What are the fees associated with spot trading on Backpack Exchange?** Spot trading fees vary depending on whether you are a maker or a taker: * ‍**Maker fees**: Lower fees for adding liquidity to the order book by placing limit orders. * **Taker fees**: Higher fees for removing liquidity by placing market orders. Check our [fee structure](/exchange/trading-fees) for the most up-to-date information on trading fees. ### **How do I view my trading history on Backpack Exchange?** To view your trading history, go to your **Portfolio** and select **Trade History**. Here, you’ll find a detailed record of all your completed trades, including the date, trading pair, order type, and execution price. This section helps you keep track of your trading activity and performance. ### **Can I trade multiple assets simultaneously in the spot market?**‍ Yes, you can trade multiple assets simultaneously on Backpack Exchange. Simply select the desired trading pairs and execute your trades accordingly. You can manage all your open orders and trading activity from the **Spot Trading** interface. ### **How do I deposit and withdraw assets for spot trading?** **To deposit assets:**‍ 1. Click on the Deposit button located at the top of the screen. 2. Choose the asset you wish to deposit and follow the instructions to complete the transfer. ‍**To withdraw assets:**‍ 1. Click on the Withdraw button at the top of the screen. 2. Select the asset and enter the amount you want to withdraw, then confirm the transaction. Make sure to review any applicable fees and minimum withdrawal amounts before proceeding. ### **What should I consider before placing a market order?** Market orders execute instantly at the current best available price, which may differ from your expected price, especially in a volatile or low-liquidity market.‍ Consider using a market order when speed is crucial, but be aware of potential slippage, which is the difference between the expected and executed trade price. ### **How do I use limit orders effectively in spot trading?** Limit orders allow you to set a specific price at which you want to buy or sell an asset. They are effective for: * ‍**Setting target prices**: Buy when the price drops to a certain level or sell when it rises to your desired level. * **Reducing slippage**: By specifying the price, you avoid the risk of your order being executed at an unfavorable rate. However, keep in mind that your order may not be filled if the market doesn’t reach your specified price. ### ‍**How do I calculate my potential profits and losses in spot trading?** **‍**You can calculate your potential profit or loss using the formula: * ‍**Profit/Loss = (Selling Price - Buying Price) x Number of Units** This calculation helps you understand your gains or losses from a trade, excluding fees. You can also track your performance in the **Portfolio** section, where your trading history and account balance are displayed. ### **What are the risks associated with spot trading?** Spot trading carries several risks, including: * ‍**Market volatility**: Cryptocurrency prices can be highly volatile, leading to rapid gains or losses. * **Liquidity risk**: Low trading volume may result in difficulty executing large trades without impacting the price. * **Security risk**: Always ensure your assets are stored securely, whether on Backpack Exchange or in your personal wallet, and enable two-factor authentication for extra protection. ### **Can I trade stablecoins in the spot market on Backpack Exchange?** Yes, you can trade stablecoins like USDC, USDT, and others in the spot market. These assets are often used for hedging, transferring funds, or as a base trading pair to minimize exposure to market volatility. ### **How do I monitor the market and set price alerts for spot trading?** While Backpack Exchange does not currently support in-app price alerts, you can monitor market movements using our comprehensive charts and real-time order book data. Keep an eye on trading pairs and market conditions to stay informed and make timely trading decisions. ### **How does the order book work in spot trading?** The order book on Backpack Exchange lists all active buy and sell orders for a specific trading pair. **Bids** represent buy orders, while **asks** represent sell orders. The order book is updated in real-time, and trades occur when a buy order matches a sell order. You can use the order book to gauge market sentiment and potential price movements. *** Didn't find what you needed here? Check out our in-depth Backpack Guides and Tutorials at [Learn.Backpack.Exchange](https://learn.backpack.exchange/) or our trading system docs [here](https://guide.backpack.exchange/). # Lend/Borrow FAQs Backpack features an omnichain money market where users can lend and borrow a variety of assets. *** **Looking for in-depth walkthroughs? Check out our Backpack Guides and Tutorials at** [**Learn.Backpack.Exchange**](https://learn.backpack.exchange/) **or our trading system docs at** [**Guide.Backpack.Exchange.**](https://guide.backpack.exchange/) *** ### **How do I lend assets on Backpack Exchange?** 1. **Go to the Lend section at the top of your screen** 2. **Select the asset you wish to lend, specify the amount, and click Lend.** 3. **If you have Auto-Lend enabled in your settings, your assets will automatically be lent to the lending pool, maximizing your earning potential.** You can track your lending activity and accrued interest in the **Lend & Borrow Info panel**. ### **How do I borrow assets on Backpack Exchange?** 1. **Ensure you have sufficient collateral in your account.** 2. **Navigate to the Lend section and switch to the Borrow tab.** 3. **Choose the asset you want to borrow, enter the desired amount, and confirm the transaction.** Interest will accrue continuously on the borrowed amount, and you can view the details in the **Borrow Info panel.** ### **How are interest rates calculated for lending and borrowing?** Interest rates on Backpack Exchange are determined dynamically based on the utilization rate of the asset pool. Higher utilization rates lead to higher interest rates, making lending more profitable and borrowing more expensive. The rates are displayed in real-time within the Lend & Borrow Info section, so you can stay informed of any changes. ### **What are the risks associated with lending and borrowing on Backpack Exchange?** #### For Lenders * The main risk is that market conditions or utilization rates may change, potentially affecting the yield on your lent assets. **For Borrowers:** * The value of your collateral could decrease, resulting in a lower margin level and the risk of liquidation. Additionally, fluctuating interest rates can impact the cost of borrowing.\ ‍ It’s crucial to understand these risks and manage your positions accordingly. ### **How does the repayment process work in the borrowing market?** **To repay your borrowed assets:** 1. Go to the **Lend** section and switch to the **Borrow** tab. 2. Select the asset you wish to repay, enter the repayment amount, and confirm the transaction. You can also enable **Auto Lend**, which will automatically use available balances to repay loans when possible. ### **Can I withdraw my collateral while I have an open borrow position?** Yes, you can withdraw a portion of your collateral, provided that doing so doesn’t lower your margin level below the required thresholds. If withdrawing collateral would put your account at risk of liquidation, the system will prevent the withdrawal. Always check your margin level before attempting to withdraw. ### **How can I earn interest on my assets?** To earn interest, simply lend your assets through the **Lend** section. If you have **Auto-Lend** enabled in your settings, your assets will automatically be lent to the lending pool, ensuring you continuously earn interest. Check the current APY and other details in the **Lend & Borrow** Info panel. ### **What happens if the value of my collateral drops while I have an open borrow position?** If the value of your collateral decreases significantly, your margin level will also drop. If it falls below the Maintenance Margin Fraction, your positions will be at risk of liquidation. The system will automatically sell off your collateral to repay the borrowed funds and apply a liquidation penalty. **To prevent this, monitor your margin level and add more collateral if needed.** ### **How does the liquidation process work for borrowed funds?** If your Account Margin Factor falls below the required Maintenance Margin Fraction, the liquidation engine will begin selling your collateral to cover the borrowed amount. All positions will be reduced in an orderly manner to protect both you and the platform. A penalty fee will be applied, and the remaining collateral will be returned to your account. ### **Can I opt out of using specific assets as collateral?** On Backpack Exchange, your account operates on a cross-margin basis, meaning all eligible assets are used as collateral by default. There is no option to disable or opt out of using specific assets as collateral within the same account. The only way to prevent an asset from being used as collateral is to move it to a sub-account, isolating it from your main account’s margin positions. ### **How do I view my lend and borrow activity?** You can view your lend and borrow activity in the Lend & Borrow Info section. Here, you’ll see details such as the total amount lent or borrowed, current interest rates, and accrued interest. Use this dashboard to manage your lending and borrowing strategies effectively. ### **What are the benefits of lending assets on Backpack Exchange?** Lending assets on Backpack Exchange allows you to earn passive income with minimal effort. If you enable **Auto-Lend**, your assets will be continuously lent, ensuring they generate interest whenever available. The interest accrues over time and compounds, making it an efficient way to put your idle assets to work. ### **Can I use borrowed funds for trading on Backpack Exchange?** Yes, you can use borrowed funds for both spot and margin trading. This feature provides extra capital to take advantage of market opportunities. However, using leverage increases your risk, so it’s important to manage your collateral carefully and monitor your margin level to avoid liquidation. ### **How do I check the utilization rate of a lending pool?** The utilization rate of a lending pool is displayed in the Lend & Borrow Info section. It represents the ratio of total assets borrowed to the total available assets in the pool. A higher utilization rate typically results in higher interest rates for lenders and higher borrowing costs for borrowers. *** Didn't find what you needed here? Check out our in-depth Backpack Guides and Tutorials at [Learn.Backpack.Exchange](https://learn.backpack.exchange/) or our trading system docs at [Guide.Backpack.Exchange.](https://guide.backpack.exchange/) # Lend/Borrow FAQs Backpack features an omnichain money market where users can lend and borrow a variety of assets. **Looking for in-depth walkthroughs? Check out our Backpack Guides and Tutorials at** [**Learn.Backpack.Exchange**](https://learn.backpack.exchange/) **or our trading system docs at** [**here**](https://guide.backpack.exchange/)**.** *** ## **How are interest rates calculated for lending and borrowing?** * Interest rates on Backpack Exchange are determined dynamically based on the utilization rate of the asset pool. Higher utilization rates lead to higher interest rates, making lending more profitable and borrowing more expensive.
* The rates are displayed in real-time within the Lend & Borrow Info section, so you can stay informed of any changes.
*** ## What arbitrage strategies can be used with lending and borrowing? 1. If you’re **bullish on an asset**, you can choose to collateralize that asset and borrow USDC. Then, use the borrowed USDC to purchase the asset on the spot market. Once the asset appreciates to your target price, you can sell it and repay the loan. 2. If you’re **bearish on an asset**, and you still have available equity in your account, you can borrow the asset you expect to decline in value and immediately sell it. When the price drops to your target level, you can buy it back and repay the loan. 3. As for **stablecoin arbitrage**: you can collateralize one type of stablecoin (e.g., USDC) to borrow another stablecoin with a lower interest rate (e.g., USDT), and then deposit the borrowed stablecoin into a protocol offering a higher lending yield—thereby profiting from the interest rate spread. *** ## **What are the risks associated with lending and borrowing on Backpack Exchange?** #### For Lenders * The main risk is that market conditions or utilization rates may change, potentially affecting the yield on your lent assets. **For Borrowers:** * The value of your collateral could decrease, resulting in a lower margin level and the risk of liquidation. Additionally, fluctuating interest rates can impact the cost of borrowing.\ ‍ It’s crucial to understand these risks and manage your positions accordingly. *** ## **How do I view my lend and borrow activity?** You can view your lend and borrow activity in the Lend & Borrow Info section. Here, you’ll see details such as the total amount lent or borrowed, current interest rates, and accrued interest. Use this dashboard to manage your lending and borrowing strategies effectively. *** ## How to differentiate between account balance, net equity, and available equity？ 1. **Account Balance**\ It represents the real-time value of your account, taking into account any gains or losses from open positions. 2. **Net Equity** * This refers to the risk adjusted dollarized value of all of the collateral in your account. Also known as your margin balance. * Net Equity = ∑ (Collateral Asset × Haircut Rate) + Unrealized PnL (profit and loss). ***Note：**Different assets have different haircut rates, and these rates may fluctuate based on changes in the value of the collateral.You can click on the haircut value next to each asset to view detailed information.* 3. **Available Equity (Remaining Equity)**\ This is the portion of your net equity that is not being used as margin or collateral. It reflects how much equity is still available for borrowing or opening new positions. Net Equity Available = Net Equity – Net Equity Locked
Didn't find what you needed here? Check out our in-depth Backpack Guides and Tutorials at [Learn.Backpack.Exchange](https://learn.backpack.exchange/) or our trading system docs [here](https://guide.backpack.exchange/). # Lend ## **What are the benefits of lending assets on Backpack Exchange?** 1. Lending assets on Backpack Exchange allows you to earn passive income with minimal effort. If you enable **Auto-Lend**, your assets will be continuously lent, ensuring they generate interest whenever available. 2. The interest accrues over time and **compounds**, making it an efficient way to put your idle assets to work. *** ## **How can I earn interest on my assets?** 1. Go to the **Lend section** at the top of your screen 2. Select the **asset** you wish to lend, specify the **amount**, and click Lend. 3. Typically, we recommend that users click the lightning icon next to the leverage multiplier to enable the **auto-lending feature**. This allows them to earn real-time interest on the available balance of the corresponding currency without increasing liquidation risk, thereby maximizing capital efficiency.
*** ## How can I redeem my lended assets on the Backpack exchange? 1. First, make sure the auto-borrow feature is **turned off.** 2. Go to the Lending page, select the corresponding token, click Lend, then **click Redeem.** 3. Enter **the amount** you wish to redeem and confirm the transaction.
*** ## **How do I check the utilization rate of a lending pool?** The utilization rate of a lending pool is displayed in the Lend & Borrow Info section. It represents the ratio of total assets borrowed to the total available assets in the pool. A higher utilization rate typically results in higher interest rates for lenders and higher borrowing costs for borrowers. *** ## Earn extra SOL lending rewards Additional earnings come from staking rewards. Backpack operates as a validator on the Solana network, and any block rewards earned through on-chain staking are passed directly back to users. The staking APY varies depending on the total amount of SOL staked. Rewards are typically distributed every Friday, based on the on-chain epoch schedule. If the current epoch hasn’t ended by Friday, those rewards will roll over and be included in the following week’s distribution. To start earning, simply enable the Auto Lend feature. Your SOL will automatically be staked—no extra steps required. And just like with USD, your staked SOL can still be used as collateral, giving you the benefit of earning rewards while keeping your assets active for trading or margin use.
*** ## Earn extra USD lending rewards The additional yield on Backpack’s stablecoin comes from returns generated by our internal stablecoin pool. When you deposit fiat, USDC, or other supported stablecoins (like pyUSD in the future), your assets are automatically converted to **Backpack USD** at a 1:1 ratio. Backpack USD is an internal unit of account used exclusively within the Backpack Exchange and isn’t directly withdrawable. It serves two key purposes: * **A smoother user experience**: It enables instant, fee-free conversions between fiat and USDC, with no manual steps required. * **Sharing stablecoin yield:** It redistributes the earnings typically kept by stablecoin issuers—such as staking rewards or on-chain yield—back to the user. The extra stablecoin APY is distributed monthly. To earn, simply enable the Auto Lend feature. Your USD will start earning interest automatically, with no further action needed. Best of all, your lent USD can still be used as collateral—so you’re earning yield while maintaining trading utility.

# Borrow ## How do I borrow assets on Backpack Exchange? 1. Ensure you have sufficient collateral in your account. 2. Navigate to the Lend section and switch to the Borrow tab. 3. Choose the asset you want to borrow, enter the desired amount, and confirm the transaction.
*** ## How much can I borrow on the Backpack exchange? 1. Your borrowing capacity depends on your remaining available equity—the higher your available equity, the more you can borrow. 2. In most cases, you can borrow up to approximately 10 times your available equity in USDC, and up to around 5 times in USDT, SOL, BTC, or ETH. 3. No manual calculation is needed—you can easily view the maximum borrowable amount for your sub-account directly under the borrow button on the lending page.
*** ## Why can’t I borrow funds? 1. The **initial margin ratio** has reached **100%**, which means you no longer have any available equity to use as collateral for borrowing.You can borrow funds once you've either added more margin or reduced your position size, bringing the initial margin ratio below 100%. 2. When the **auto-borrow** feature is **enabled**, borrowing can only occur through spot margin or withdrawals. If you wish to initiate a manual borrow,simply click the lightning icon next to the leverage multiplier to disable the auto-borrow feature. Once it’s turned off, you’ll be able to proceed with the manual loan. 3. Additionally, there is already **an active lending position** under this token. You must manually redeem the lent assets before you can proceed with borrowing this token. *** ## What fees are associated with borrowing on the Backpack exchange? 1. Once a position is opened, **an entry fee** is immediately charged. This fee is equivalent to **a portion** of the hourly interest. For example, if you collateralize 1 BTC and borrow 2,000 USDC at 12:50 AM, and the next interest calculation occurs at 1:00 AM, then the 10 minutes of accrued interest will be your opening fee.
2. **An hourly interest charge** is applied at every hour on the hour.\ The hourly interest = (Borrowed Amount × Annual Interest Rate) ÷ 365 days ÷ 24 hours.
*** ## How do I repay a borrow? To repay your borrowed assets: 1. Go to the **Lend section** and switch to the **Borrow tab.** 2. Select the asset you wish to repay, enter the repayment amount, and confirm the transaction. You can also enable Auto Lend, which will automatically use available balances to repay loans when possible.
*** ## **Can I withdraw my collateral while I have an open borrow position?** Yes, you can withdraw a portion of your collateral, provided that doing so doesn’t lower your margin level below the required thresholds. If withdrawing collateral would put your account at risk of liquidation, the system will prevent the withdrawal. Always check your margin level before attempting to withdraw.
*** ## **Can I opt out of using specific assets as collateral?** On Backpack Exchange, your account operates on a cross-margin basis, meaning **all eligible assets** are used as collateral **by default**. There is no option to disable or opt out of using specific assets as collateral within the same account. The only way to prevent an asset from being used as collateral is to move it to a sub-account, **isolating** it from your main account’s margin positions. *** ## **What happens if the value of my collateral drops while I have an open borrow position?** If the value of your collateral decreases significantly, your margin level will also drop. If it falls below the Maintenance Margin Fraction, your positions will be at risk of **liquidation**. The system will automatically sell off your collateral to **repay** the borrowed funds. **To prevent this, monitor your margin level and add more collateral if needed.** *** ## **How does the liquidation process work for borrowed funds?** If your Maintenance Margin Ratio reaches 100%, the liquidation engine will begin reducing your positions and selling collateral in an orderly manner to cover the borrowed amount. This helps protect both you and the platform. *** ### **Can I use borrowed funds for trading on Backpack Exchange?** Yes, you can use borrowed funds for both spot and margin trading. This feature provides extra capital to take advantage of market opportunities. However, using leverage increases your risk, so it’s important to manage your collateral carefully and monitor your margin level to avoid liquidation. *** # Programs # Points Season 1 of Backpack Exchange’s points program started on March 21, 2025, and ended on May 29, 2025. Season 2 of Backpack Exchange’s points program started on July 3, 2025. Points are distributed to users on a weekly basis based on their activity across all products on the exchange. The criteria for points is updated on a continuous basis and intentionally opaque. The goal of the points program is to reward users who contribute to Backpack’s growth. Ranks are season-specific, meaning the rank you achieve in one season remains permanently tied to that season. When a new season starts, all users begin earning points from scratch to determine their rank for the new season. Each season has the same rank tiers: Bronze, Silver, Gold, Platinum, Diamond, and Challenger. Points are distributed every Friday at 02:00 UTC. Distributions are based on weekly activity ending Thursdays at 00:00 UTC. Backpack maintains the right to adjust previous point distributions at its sole discretion. A snapshot was taken on March 20, 2025, at approximately 09:00 UTC for the Legacy Drop, allocated to historical Backpack Exchange users since the platform’s inception in late 2023. There was a bonus drop of 10 million points distributed to users who continued to trade and remain active during the off-season period between Season 1 and Season 2. You can find a summary of your points and rank on this page . To get started, sign up on or download the Backpack app [here](https://backpack.app/download).
# Referrals Registered Exchange members who onboard KYC'd users with their Referral Code will earn 10% of the trading fees generated by that new user. *** ### How do I refer someone to Backpack Exchange? To invite a new user: **1. Locate Your Referral Code** * On the web: Go to [eu.backpack.exchange/referrals](https://eu.backpack.exchange/referrals). * On the mobile app: Navigate to your Exchange Account → Points Screen → Referrals tab. * ***Customization Tip**:* You must have $1,000,000 in lifetime trading volume to customize your code. Otherwise, a default code is assigned. **2. Share Your Code** * share the code directly with a friend or community member. **3. Track Referral Activity** * Once they sign up using your code and complete KYC, you’ll start earning referral rebates based on their trading fees. *** ### How do I use a referral code? **1. Create a New Account** * On desktop: Visit [eu.backpack.exchange/signup](https://eu.backpack.exchange/signup). * On mobile: Download the [Backpack app](https://support.backpack.exchange/~/revisions/DBo79HudgGfEJIvVhxiq/start-here/downloads), open it, and follow the prompts to create an account. **2. Enter the Referral Code** * During signup, look for the “Add referral” field. * Input the code you received from your referrer. **3. Complete KYC** * After verifying your identity, you’re all set. Your referrer will begin receiving rebates, and you’ll gain access to all of Backpack Exchange’s features. *** ### Important Notes * **Referral Rebate Claims:** Available for up to 24 months after they become eligible. * **Processing Time:** If your rebate claim hasn’t processed within one day of claiming, reach out to * **VIP4/5 Fee Tier Exception:** Referrals at the VIP4/5 tier do not pay rebates. * **Weekly Updates:** Referral rebates are populated weekly, and trading volume from referrals is not instantly claimable. * **No Retroactive Adds:** We cannot add referrals for users who have already completed KYC without using your code. *** ### Important Update (Effective March 28, 2025) Beginning on March 28, 2025, the default referral rate will adjust from 30% to 10%. If you have any questions regarding this update, please reach out to # Affiliate Program ## Increased Rebates #### How It Works Affiliates who meet the qualifications below can earn an increased cash rebate on top of the standard 10 % rebate, resulting in higher direct commissions. This program is designed for partners who bring significant and consistent trading activity to Backpack Exchange. *** #### Eligibility Requirements: **Backpack‑Specific** * $20 million in **monthly referral volume** on Backpack * 15 **active referred users** per month on Backpack * 5 **new user acquisitions** per month on Backpack **OR** **External** * **More than 5,000** Twitter (X) followers * **OR** an equivalent volume of referrals on other exchanges ***Note:** These are **minimum requirements** and are s**ubject to our team’s due diligence**. Meeting these thresholds does **not** guarantee acceptance into the program.* *** #### Sign Up If you meet these requirements and would like to join, please complete [this form](https://airtable.com/appzUl7DuSHXwdOIh/pagkdM3QtsThxaFwY/form). Our team will review your application and confirm your eligibility. # Flexible Commission Sharing Flexible commission sharing is now live on Backpack Exchange! 🔥🎒 As an approved affiliate, you can now control exactly how much of your earned commissions you pass on to traders who join Backpack through your referral link. Every percentage you share translates directly into a fee discount for your referrals. **Important:** * This feature provides the only available method for new users to receive discounted trading fees on Backpack Exchange (aside from standard trading volume-based discounts). * The flexible commission sharing option is exclusively available to approved affiliates. ### How to Adjust Your Commission Sharing 1. **Log in** to your Affiliate Dashboard here: [Affiliate Dashboard](https://eu.backpack.exchange/affiliates). 2. If you are not yet an approved affiliate: * Fill out the necessary information and click **Submit**. * You will be notified upon approval. 3. Once approved: * On your Affiliate Dashboard, locate **Commission Rates**. * Click the **Pencil Icon** ✏️ next to "Commission Rates" to edit. * Adjust the percentage of commissions you'd like to share with your referrals. * Click **Save** to confirm your new settings. Your referrals will now enjoy trading with discounted fees, and you'll have complete control over your commission sharing preferences. {% embed url="" %} # Backpack VIP Program Bring Your VIP Status to Backpack If you already hold VIP status — or trade significant volume — on **any other exchange**, you can unlock Backpack’s premium perks from day one. *** ### Why Move to Backpack? * **Ultra-low trading fees**\ *As low as **0 % maker / 0.025 % taker** on Spot and **0 % maker / 0.018 % taker** on Futures.* * **0-fee global fiat on / off-ramp**\ Seamless **USD ⇄ USDC 1 : 1** conversions. * **Attractive yield** on USDC and SOL *while they still count as margin collateral.* * **Dedicated VIP account manager** available 24 / 7. * Invitations to **private events & exclusive networking**. * **VIP merchandise** drops and early product previews. * **Fast-track onboarding** – we mirror your current VIP tier the moment you’re approved. *** ### Who We Invite We extend invitations to traders who can show: * **Established VIP status** on another regulated exchange **or** * **Substantial recent trading volume** (proof required). *Not sure you meet the mark? Apply anyway – every submission is reviewed individually.* *** ### Apply in Two Minutes > **Step 1 →** [**VIP Application Form**](https://forms.gle/JH224irteXhgxdFd7)\ > *You’ll be asked for:* > > * Preferred **contact email** > > * **Telegram handle** > > * **Proof of 30-day trading performance or VIP tier** (screenshot / PDF – P2P volume excluded) > > **Step 2 →** Our team reviews and responds. > > **Step 3 →** Once invited, your Backpack VIP perks activate immediately. *** ### Need Help? Email **** – we’re online 24 / 7. # Backpack VIP: Confirming Your Official Invitation ### You’ve Been Contacted by — It’s Legit! If you’ve received an email from , congratulations—it’s a genuine message from our official team. You’ve been selected for our Backpack VIP Program. 🎉 *** ### What Does VIP Mean? As a VIP, you get access to exclusive perks designed just for our top users: * Dedicated, full-time support from our VIP team * Limited-edition merchandise you won’t find anywhere else * Invitations to exclusive events with the Backpack community *** If you have any questions or want to confirm your eligibility, feel free to reply directly to the email you received or contact us via our official channels [here](/) Welcome to the VIP club! 👑 The Backpack Team
# Market Maker Program Market makers on Backpack are eligible for maker rebates across spot and futures markets, and participate in a monthly equity reward pool valued at \~$195,000 for providing liquidity on perpetual futures markets. ### Overview Market makers on Backpack are eligible for maker rebates across spot and futures markets, and participate in a monthly equity reward pool valued at \~$195,000 for providing liquidity on perpetual futures markets. **To be eligible for this program, please reach out to us at** [**vip@eu.backpack.exchange**](mailto:vip@eu.backpack.exchange) *** ### Market Maker Rebates

Note: Values shown without a “%” symbol are expressed in basis points (bps).

MM tiers can be reached **either** by Total Maker Share or Adjusted Maker Share, whichever is highest. The Adjusted Maker Share model rewards traders for providing liquidity on low liquidity markets. Each market has a multiplier (as presented below), which is used to calculate the Adjusted Volume.
Adjusted maker share is calculated by dividing a user's total adjusted maker volume from that month by the total adjusted maker volume of all users across all markets in each instrument category. MMs can also unlock MM tiers through their Total Maker Share, which does not factor in market multipliers. For Total Maker Share, we take the user’s total maker volume and divide it by the total maker volume of all users across all markets in each instrument category without applying any multipliers. #### MM Tier Calculation and Payout On the last day of every month, we will calculate the Total Maker Share and Adjusted Maker Share for each user and choose the **highest** between the two to determine their MM tier / fees for the month. Rebates will be credited manually to the user’s Backpack account the following month. In the meantime, users participating in the MM program will have their fee tier set to VIP2, which has 0 maker fees. *** ### Market Maker Monthly Rewards Backpack has allocated 5% of the company’s equity as of December 2023 to reward market makers that provide liquidity on the exchange. 2.5% has been allocated to spot and futures each, which nets to \~$195,000 in monthly rewards for each instrument (using our latest valuation of $120m as of February 2024). Spot rewards started on January 1 2024 and ended on December 31 2024. The futures program starts on February 1, 2025. #### Monthly Futures Reward Distribution
**Pair Categories** * **Primary Pairs**: BTC-PERP, ETH-PERP, and SOL-PERP * **Secondary Pairs**: All other futures pairs **Primary Pairs Distribution** The total primary reward pool is split equally among BTC-PERP, ETH-PERP, and SOL-PERP. Each primary pair receives 0.03472% of the total reward pool. **Secondary Pairs Distribution** The reward for secondary pairs is distributed based on the number of days each pair was active during the month (the timestamp of first trade is considered the start). The formula is: ***Individual Pair Reward % = Pair's Active Days / Sum of All Pairs' Active Days*** **Example** Let's say we have three secondary pairs in a 30-day month: * Pair A: Active for 30 days * Pair B: Active for 30 days * Pair C: Active for 10 days Total active days across all pairs = ***70 days (30 + 30 + 10)*** Therefore: * Pair A receives: (30/70) = 37.5% of secondary rewards * Pair B receives: (30/70) = 37.5% of secondary rewards * Pair C receives: (10/70) = 25% of secondary rewards #### Scoring System For Monthly Rewards To determine a user’s share of the reward pool for a given pair, we will look at their Blended Score, which takes into account their Volume Score and Liquidity Score. **For each market:** * **Volume Score** = your maker volume / volume of all MMs in the program * **Liquidity Score** = Your Liquidity Metric / Sum of all MMs Liquidity Metric * Liquidity Metric = Average Size / (Average Spread) \* Uptime Score * Uptime Score = Active Snapshots / Total Snapshots * **Blended Score** = (Volume Score \* Volume Weight) + (Liquidity Score \* Liquidity Weight) * **Reward** = Blended Score \* Monthly Reward Pool Volume Score has a weight of 0.8 and Liquidity Score 0.2. #### Optional Liquidity KPIs Market Makers (MMs) who maintain liquidity KPIs for at least 80% of the month will receive a 30% boost to both their Volume Score and Liquidity Score on the relevant pairs where they hit the KPI. This boost is taken from the allocation that would otherwise go to MMs who fall below the 80% uptime threshold. See optional liquidity KPIs below:
The One-Sided Depth values shown above represent the minimum liquidity required on each side of the order book (bid and ask) independently. For example, a $10,000 depth requirement means market makers must maintain at least $10,000 worth of orders on both the buy side and the sell side separately, within the specified spread level. Note that the KPIs may change as volumes and liquidity on the exchange evolve. If a market doesn't have liquidity KPIs specified for it, the 30% rewards boost is not applicable for that market. #### MM Reward Calculation Example The example below illustrates how rewards are calculated for a single market.‍
### Further Information * All new MMs will enjoy MM5 maker fees for their first month; thereafter, fees will be determined based on the user’s market share and volumes at the end of the fee holiday period. **Backpack Exchange does not, and will not entertain special fee deals with any MM. Fee schedules with all MMs are the same.** * MMs participating in this program are not able to participate in other programs. * MMs must receive at least 1% of the total allocation in order to be eligible for equity rewards in a given month. Additionally, MMs with an average size lower than $2000 or a volume score lower than 1.5% won't be eligible for rewards on a given market. * For the liquidity score calculation, we will only consider orders placed within 100bps from the mid. * For a limited time, each MM has the option to have Backpack buy back the awarded equity every month at the previous fundraise valuation ($120m as of February 2024). If a market maker wishes to receive their month’s reward in cash, the market maker must let Backpack know before the end of the following month. For example, a MM has until November 30 to state how they want to receive their October rewards. Previous equity rewards that have not been claimed in cash cannot be converted. * MMs must comply with Backpack Exchange's User Agreement and all applicable policies and procedures. * Backpack Exchange reserves the right to waive certain KPI requirements for a certain period of time in its sole discretion. * Backpack Exchange reserves the right to modify this program any time when appropriate. # Mad Lads VIP
‍Connect a [**Backpack Wallet**](https://download.backpack.app/BQcg/i4uu9wj4) which holds a Mad Lads NFT to the [**Backpack Exchange**](https://download.backpack.exchange/BQcg/bu8071n9) and qualify for discounted [VIP Tier 1 trading fees ](/exchange/trading-fees)on both Spot markets and Perpetual Futures products. * Fee tiers are updated every hour. * If your Mad Lads NFT leaves your Wallet, your fee tier will be adjusted accordingly. A Mad Lads NFT must be held in a Wallet which is linked to the Exchange. See the Rewards menu for instructions on how to link your Wallet. [See more details about Backpack Exchange trading fees here.](/exchange/trading-fees)**‍** *** ## Backpack Exchange Trading Fees The Mad Lads VIP Program rewards users with lower Maker and Taker fees when trading on the [**Backpack Exchange**](https://eu.backpack.exchange/).
# Backpack Hunter ### Eligibility: 1. Trading group owners / leaders 2. KOLs 3. Local distributors 4. Individuals passionate about Backpack Please email for your application. Once your application is approved, you will automatically join as Level 1 Hunter. Commissions are settled every week. Upon meeting the required criteria for transaction fees and user numbers, you will be upgraded to the next Level. Monthly pay will be reviewed and distributed at the end of each month.
TierMonthly VolumeMonthly FeesMonthly Active UsersEffective News UserReferral RateMonthly PayMinimum Total Income
V1NoneNone10320%--
V25m$1,00010325%--
V310m$2,00015530%--
V420m$4,00015540%$200$1,800
V540m$8,000251040%$500$3,700
V6100m$20,000501545%$1,000$10,000
V7200m$40,000752050%$1,500$21,500
V8400m$80,0001002550%$2,000$42,200
If you don’t meet the monthly requirement, your cash payment for that month will be reduced, and your referral rate for the next month will also be lowered. # Bug Bounty Program > 📢 **Submit your reports and find full details on our Hackenproof page:**\ > 🔗 [Backpack Web & API Bug Bounty @ Hackenproof](https://hackenproof.com/programs/backpack-web-and-api) *** ## Rules **Rewards are categorized into five tiers** based on the severity of the identified vulnerabilities. The reward amounts are as follows: * **Critical**: $10,000 - $100,000 USD * **High**: $5,000 - $10,000 USD * **Medium**: $500 - $5000 USD * **Low**: $50 - $500 USD ‍ Upon acceptance of your bug or vulnerability report, rewards will be disbursed in USDC. Please note that the threat level will be assessed by the Backpack security team, and Backpack reserves the sole discretion to determine whether a report meets the reward criteria. *** ## Scope of Vulnerabilities‍ The following modules are within the scope of the bug bounty program:
*** ## Criteria **Reports should focus on the following types of vulnerabilities:** * Issues with business logic that may result in the loss of user assets. * Payment manipulation. * Remote code execution (RCE). * Leakage of sensitive information. * Critical OWASP issues such as XSS, CSRF, SQLi, SSRF, IDOR, and similar vulnerabilities. * Other vulnerabilities that may result in potential loss. *** ## Exclusions **The following issues are not within the scope of the bug bounty program:** * Theoretical vulnerabilities that have not been proven. * Flaws in email verification codes, expired password reset links, and password complexity policies. * Clickjacking and UI redirection with minor security impact. * Vulnerabilities in third-party applications or software. * Zero-day exploits that are less than 30 days old. * Social engineering and phishing attacks. * Denial of Service (DoS) attacks. * Enumeration of email, phone number, or username information. * Known issues, duplicate submissions, or vulnerabilities already disclosed. * Physical attacks. * Vulnerabilities that can only be exploited in older versions of browsers or platforms. * Using known codebase vulnerabilities without actual proof. * Lack of security flags in cookies. * Issues related to insecure SSL/TLS sockets or protocol versions. * Content-based deception. * Cache management issues. * Internal IP or domain name leakages. * Missing security headers that cannot be directly exploited. * CSRF issues with negligible impact (such as adding to favorites, adding to cart, subscribing, etc.) * Issues without any security impact. ‍ **For any queries or submissions, please contact us at** [**bugbounty@backpack.exchange**](mailto:bugbounty@backpack.exchange)**.** ‍ We look forward to your participation and thank you for helping us maintain a secure and trustworthy trading environment. # Trading Fees At Backpack EU, our commitment to providing a transparent and competitive fee structure is paramount. The tables below outlines our Perpetual Futures fee tiers enabling traders to easily identify the fees associated with their trading volume. *** ### **Backpack EU** Perpetual Futures Fees | Tier | Volume (30d) | Maker Fee | Taker Fee | | ---- | ------------ | --------- | --------- | | 1 | $0 | 0.020% | 0.050% | | 2 | $500,000 | 0.019% | 0.045% | | 3 | $1,000,000 | 0.018% | 0.040% | | 4 | $5,000,000 | 0.016% | 0.035% | | 5 | $10,000,000 | 0.013% | 0.030% | | 6 | $25,000,000 | 0.010% | 0.028% | | VIP1 | $50,000,000 | 0.010% | 0.026% | | VIP2 | $100,000,000 | 0.000% | 0.024% | | VIP3 | $150,000,000 | 0.000% | 0.022% | | VIP4 | $200,000,000 | 0.000% | 0.020% | | VIP5 | $300,000,000 | 0.000% | 0.018% | \*Volume excludes fiat to fiat pairs ### **What are Maker and Taker Fees?** * **Maker Fee:** A "maker" is someone who places a limit order that adds liquidity to the market. This means the order isn’t filled immediately but waits for a matching order (opposite buy or sell) to come along. The fee incurred for such orders is called the "maker fee". Makers typically pay a lower fee as they contribute to the market's liquidity.
* **Taker Fee:** A "taker" is someone who places an order that matches immediately with an existing order on the order book. This takes liquidity away from the market. The fee for such orders is called the "taker fee". Takers typically pay a slightly higher fee due to the immediate nature of their trades. ### **How do Fee Tiers Work?** Tiered pricing is a pricing structure that applies different fee tiers based on trading volume thresholds. As your 30-day trading volume increases, you ascend through our tier levels, and your applicable fees decrease. Both maker and taker fees decrease as you move to a higher tier, allowing for a more cost-effective trading experience.\ \ Please refer to the table provided to view the fee structure across different tiers and the corresponding 30-day volume requirements. We aim to offer a seamless trading experience with a clear understanding of the associated costs.‍ **Note:** Fee tiers are recalculated **every hour**, so your tier status is updated regularly. ### Liquidation Fees The Liquidation Fees Rate at Backpack EU is 1% per fill. # Education This Education section provides essential resources to help you understand the fundamentals of derivative and leveraged trading at Backpack EU. From leverage mechanics and margin requirements to risk management and responsible trading practices, our educational materials are designed to support informed decision-making and promote a disciplined approach to trading. {% file src="/files/9az6BhX7p7hQlTDklCIV" %} *** # API & Developer Docs For information on using the Backpack Exchange API — including trading, account management, and market data — please visit our official documentation: [Backpack Exchange API Documentation](https://docs.backpack.exchange/) \ All API setup instructions, endpoint details, and WebSocket guides can be found there. # API Clients API documents and clients for Backpack Exchange developers. Some of the SDKs listed below are community-built and are not officially maintained or endorsed by the Backpack team. While they may be useful, please use them at your own discretion and ensure you review the code before integrating it into any production systems. For official support and updates, refer to our [API documentation](https://docs.backpack.exchange) or reach out via the [Backpack Discord API channel](https://discord.gg/backpack). * **Python:** * **Javascript:** [‍](https://github.com/syp25815/bpx-api-py) * **TypeScript:** * **Go:** * **Rust:** # Backpack Exchange Python API guide ### Prerequisites Get your API keys if you are going to use account endpoints: Install the required Python libraries: * cryptography – for X-Signature ([account endpoints](https://docs.backpack.exchange/#tag/Account) only) * requests – for making HTTP requests (or aiohttp if you prefer async) ``` pip3 install cryptography requests ``` Install dotenv-python to securely manage your keys using environment variables if you are going to use [account endpoints](https://docs.backpack.exchange/#tag/Account) ``` pip3 install python-dotenv ``` Create a .env file and store your keys like this: ``` PUBLIC_KEY=zDIJj9qneWIY0IYZ5aXoHcNMCm+XDhVcTssiT0HyY0A= SECRET_KEY=4odxgSUxFrC/zsKWZF4OQwYAgnNu9hnWH3NxWfLAPz4= ``` Create a .gitignore file and add .env to exclude it from version control. ``` .env ``` For all examples, we will use the synchronous requests library. Let's import it: ``` import requests ``` ### Public endpoints For public endpoints, simply send a GET request. No API keys are required. #### Example: Accessing Public Data ``` # https://docs.backpack.exchange/#tag/Markets/operation/get_open_interest BASE_URL: str = "https://api.backpack.exchange/" # base api url for all endpoints symbol: str = "SOL_USDC_PERP" # let's specify the symbol result_url: str = f"{BASE_URL}api/v1/openInterest?symbol={symbol}" # add your argument as a query string. For GET requests you need only query string ``` ``` from json import JSONDecodeError response = requests.get(url=result_url) # make a get request print(f"response status code: {response}") if response.status_code == 200: # make your code safe in case you receive unexpected data try: print(f"response json: {response.json()}") open_interest: str = response.json()[0]["openInterest"] print(f"open interest: {open_interest}") except JSONDecodeError: print(f"response text if response isn't json: {response.text}") else: ... ``` \ **Note:** If you have more than one argument, join them using the & symbol. ### Private endpoints For private endpoints, we need to create specific headers and a request body (for POST requests). This requires authentication with your API keys. ``` import base64 # for base64 encoding the signature from time import time # for timestamp generation import os # to access environment variables from cryptography.hazmat.primitives.asymmetric import ed25519 # to create a private key for signing # from dotenv import load_dotenv, find_dotenv # to load environment variables from .env file ``` ``` # In production code, use this approach: # load_dotenv(find_dotenv()) # public_key: str = os.getenv("PUBLIC_KEY") # secret_key: str = os.getenv("SECRET_KEY") # For demonstration purposes only - don't hardcode keys in production public_key: str = "5+yQgwU0ZdJ/9s+GXfuPFfo7yQQpl9CgvQedJXne30o=" secret_key: str = "TDSkv44jf/iD/QCKkyCdixO+p1sfLXxk+PZH7mW/ams=" # Create private key from secret key private_key = ed25519.Ed25519PrivateKey.from_private_bytes( base64.b64decode(secret_key) ) ``` #### Example: Retrieving a Deposit Address Let's see how to retrieve a deposit address using the API: ``` # Generate timestamp and window parameters timestamp = int(time() * 1e3) # Unix time in milliseconds window: str = "5000" # Time window in milliseconds that the request is valid for ``` Now that we have our authentication components ready (`X-Timestamp`, `X-Window`, and `X-API-Key`), let's create the signature. ``` # Define the instruction for this API call instruction: str = "depositAddressQuery" sign_str = f"instruction={instruction}" # This endpoint requires the "blockchain" parameter params: dict = { "blockchain": "Solana", } # Generate a valid query string from parameters sorted_params_list = [] for key, value in sorted(params.items()): if isinstance(value, bool): # boolean variables should be lowercase in query strings value = str(value).lower() sorted_params_list.append(f"{key}={value}") sorted_params = "&".join(sorted_params_list) # Combine all parts of the signature string if sorted_params: sign_str += "&" + sorted_params sign_str += f"×tamp={timestamp}&window={window}" print(f"Signature string: {sign_str}") ``` #### Signing the Request Now let's sign the request with our private key: ``` # Sign the string with our private key signature_bytes = private_key.sign(sign_str.encode()) encoded_signature = base64.b64encode(signature_bytes).decode() print(f"Base64 encoded signature: {encoded_signature}") ``` #### Creating Headers Create the required headers for the API request: ``` # Prepare the headers with all required authentication parameters headers = { "X-API-Key": public_key, "X-Signature": encoded_signature, "X-Timestamp": str(timestamp), "X-Window": window, "Content-Type": "application/json; charset=utf-8", } ``` #### Sending the Request Now we can send the authenticated request to the API: ``` # Send the GET request with our authentication headers url = "https://api.backpack.exchange/wapi/v1/capital/deposit/address" response = requests.get(url=url, headers=headers, params=params) print(response.json()) ``` ### Using POST Requests For `POST` requests, you need to include the JSON body and use the `post()` method instead of `get()`. #### Example: Executing an Order Let's see how to submit an order to the matching engine for execution using the API: ``` # Generate timestamp and window parameters timestamp = int(time() * 1e3) # Unix time in milliseconds window = "5000" # Time window in milliseconds that the request is valid for # Define the instruction for this API call instruction = "orderExecute" sign_str = f"instruction={instruction}" # Create the order request body order_params = { "symbol": "SOL_USDC", # Required: The market for the order "side": "Bid", # Required: "Bid" (buy) or "Ask" (sell) "orderType": "Limit", # Required: "Market" or "Limit" "price": "170.50", # The order price (required for limit orders) "quantity": "1.0", # The order quantity "timeInForce": "GTC", # "GTC" (Good Till Cancelled), "IOC" (Immediate or Cancel), "FOK" (Fill or Kill) "clientId": 123456, # Custom order ID (optional) "selfTradePrevention": "RejectTaker" # Optional: "RejectTaker", "RejectMaker", "RejectBoth" } # Generate a valid query string from parameters sorted_params_list = [] for key, value in sorted(order_params.items()): if isinstance(value, bool): # boolean variables should be lowercase in query strings value = str(value).lower() sorted_params_list.append(f"{key}={value}") sorted_params = "&".join(sorted_params_list) # Combine all parts of the signature string if sorted_params: sign_str += "&" + sorted_params sign_str += f"×tamp={timestamp}&window={window}" print(f"Signature string: {sign_str}") ``` ``` # Sign the string with our private key signature_bytes = private_key.sign(sign_str.encode()) encoded_signature = base64.b64encode(signature_bytes).decode() print(f"Base64 encoded signature: {encoded_signature}") ``` ``` # Prepare the headers with all required authentication parameters headers = { "X-API-Key": public_key, "X-Signature": encoded_signature, "X-Timestamp": str(timestamp), "X-Window": window, "Content-Type": "application/json; charset=utf-8", } ``` ``` # Send the POST request with our authentication headers and order parameters url = "https://api.backpack.exchange/api/v1/order" response = requests.post(url=url, headers=headers, json=order_params) print(f"Response status code: {response.status_code}") try: print(f"Response JSON: {response.json()}") except JSONDecodeError: print(f"Response text: {response.text}") ``` ### Sources SDK makes the development process much easier. Example SDK: For more information, visit the official documentation: # Python WebSocket Guide for Backpack Exchange API This guide demonstrates how to use the Backpack Exchange WebSocket API with Python. WebSockets provide real-time data streams for market data and account updates. ### Prerequisites Get your API keys if you are going to use private streams: Install the required Python libraries: * websockets - for WebSocket connections * cryptography - for X-Signature (private streams only) ``` pip install websockets cryptography ``` Install dotenv-python to securely manage your keys using environment variables if you are going to use private streams ``` pip install python-dotenv ``` Create a .env file and store your keys like this: ``` PUBLIC_KEY=zDIJj9qneWIY0IYZ5aXoHcNMCm+XDhVcTssiT0HyY0A= SECRET_KEY=4odxgSUxFrC/zsKWZF4OQwYAgnNu9hnWH3NxWfLAPz4= ``` Create a .gitignore file and add .env to exclude it from version control. ``` .env ``` Import the necessary libraries: ``` import json import asyncio import websockets import base64 from time import time import os from cryptography.hazmat.primitives.asymmetric import ed25519 from dotenv import load_dotenv, find_dotenv ``` ### WebSocket API Basics The Backpack Exchange WebSocket API is available at `wss://ws.backpack.exchange`. WebSocket streams are named using the format: `.` For example: * `depth.SOL_USDC` - Order book for SOL/USDC * `trade.SOL_USDC` - Trades for SOL/USDC ### Why Use Async with WebSockets WebSockets are designed for long-lived connections that receive data in real-time. Using asynchronous programming with WebSockets offers several advantages: 1. **Non-blocking I/O**: Async allows your application to handle multiple connections without blocking the main thread. 2. **Resource Efficiency**: Async uses fewer resources than creating multiple threads for concurrent connections. 3. **Better Performance**: Async can handle many connections with less overhead than synchronous approaches. 4. **Real-time Processing**: Async is ideal for real-time data streams where you need to continuously receive and process data. Synchronous approaches have several drawbacks: 1. **Complex Threading**: Requires manual thread management 2. **Resource Intensive**: Each connection needs its own thread 3. **Difficult Error Handling**: Error propagation across threads is complex 4. **Scaling Issues**: Does not scale well with many connections The async approach (as shown in our examples) is much cleaner, more efficient, and easier to maintain. ### Public Streams Public streams don't require authentication. You can subscribe to them directly. #### Example: Subscribing to a Public Stream ``` async def subscribe_to_public_stream(): uri = "wss://ws.backpack.exchange" async with websockets.connect(uri) as websocket: # Subscribe to the depth stream for SOL/USDC subscribe_message = { "method": "SUBSCRIBE", "params": ["depth.SOL_USDC"] } await websocket.send(json.dumps(subscribe_message)) print(f"Subscribed to depth.SOL_USDC stream") # Process incoming messages while True: response = await websocket.recv() data = json.loads(response) print(f"Received: {data}") # You can process the data here based on your needs # For example, update a local order book # To run the async function in a Jupyter notebook, use: # await subscribe_to_public_stream() # # TO run in your code # asyncio.run(subscribe_to_public_stream()) ``` #### Example: Subscribing to Multiple Public Streams ``` async def subscribe_to_multiple_streams(): uri = "wss://ws.backpack.exchange" async with websockets.connect(uri) as websocket: # Subscribe to multiple streams subscribe_message = { "method": "SUBSCRIBE", "params": ["depth.SOL_USDC", "trade.SOL_USDC"] } await websocket.send(json.dumps(subscribe_message)) print(f"Subscribed to multiple streams") # Process incoming messages while True: response = await websocket.recv() data = json.loads(response) print(f"Received: {data}") # Process different stream data based on the stream name if "stream" in data and "data" in data: stream_name = data["stream"] stream_data = data["data"] if stream_name.startswith("depth."): # Process order book data print(f"Order book update: {stream_data}") elif stream_name.startswith("trade."): # Process trade data print(f"Trade update: {stream_data}") # Run the async function in a Jupyter notebook: # await subscribe_to_multiple_streams() # # To run in your code # asyncio.run(subscribe_to_multiple_streams()) ``` ### Private Streams Private streams require authentication with your API keys. These streams are prefixed with `account.` and provide updates about your account. #### Authentication for Private Streams To authenticate for private streams, you need to: 1. Create a signature string of the form: `instruction=subscribe×tamp=1614550000000&window=5000` 2. Sign it with your private key 3. Include the signature data in your subscription message as an array: `"signature": ["", "", "", ""]` Private streams are prefixed with `account.` and require signature data to be submitted in the subscribe parameters. The verifying key and signature should be base64 encoded. ``` # Load API keys from .env file # load_dotenv(find_dotenv()) # public_key = os.getenv("PUBLIC_KEY") # secret_key = os.getenv("SECRET_KEY") # For demonstration purposes only - don't hardcode keys in production public_key = "5+yQgwU0ZdJ/9s+GXfuPFfo7yQQpl9CgvQedJXne30o=" secret_key = "TDSkv44jf/iD/QCKkyCdixO+p1sfLXxk+PZH7mW/ams=" # Create private key from secret key private_key = ed25519.Ed25519PrivateKey.from_private_bytes( base64.b64decode(secret_key) ) ``` #### Example: Subscribing to a Private Stream ``` async def subscribe_to_private_stream(): uri = "wss://ws.backpack.exchange" # Generate authentication parameters timestamp = int(time() * 1e3) # Unix time in milliseconds window = "5000" # Time window in milliseconds # Create signature string sign_str = f"instruction=subscribe×tamp={timestamp}&window={window}" # Sign the string signature_bytes = private_key.sign(sign_str.encode()) encoded_signature = base64.b64encode(signature_bytes).decode() async with websockets.connect(uri) as websocket: # Subscribe to the order stream with authentication subscribe_message = { "method": "SUBSCRIBE", "params": ["account.orderUpdate"], "signature": [public_key, encoded_signature, str(timestamp), window] } await websocket.send(json.dumps(subscribe_message)) print(f"Subscribed to account.order stream") # Process incoming messages while True: response = await websocket.recv() data = json.loads(response) print(f"Received: {data}") # Process order updates if "stream" in data and data["stream"] == "account.order" and "data" in data: order_data = data["data"] print(f"Order update: {order_data}") # Run the async function in a Jupyter notebook: await subscribe_to_private_stream() # # If using nest_asyncio (recommended): # asyncio.run(subscribe_to_private_stream()) ``` ### WebSocket Ping/Pong WebSocket connections require a ping-pong mechanism to keep the connection alive. The good news is that the Python `websockets` library handles this automatically ### Sources For more information visit the official documentation: # Report Issue or Bug The best way to report issues or glitches in Backpack products is to generate a Support ticket using the built in function which lives in both Wallet and Exchange. It collects details about the system status that helps troubleshoot the issue. * After submitting a ticket, make sure to record the ticket ID and include it when you contact Support () *** # Exchange ### **How to report bugs or platform glitches on the Backpack Exchange:** If you encounter any irregularities or glitches, kindly follow this guide to share your observations. ### **1. Document the glitch (if possible)** * Taking a screenshot or a short screen recording can greatly expedite our troubleshooting process. * While this isn't mandatory, it provides our technical team with invaluable insights into the issue. ### **2. Send your report** * Forward your observations and any visual evidence to . * Provide comprehensive information: * Clearly describe the observed bug or glitch. Mention the device and browser you were using, steps leading up to the anomaly, and any other pertinent data. Remember, while visuals are beneficial, a detailed description is equally important. ### **3. Await our feedback** * Once you've relayed your observations, our team will commence its investigation. You may receive an acknowledgment or a tracking reference, assuring you that we're on the case.\ ‍ **Thank you for contributing to enhancing Backpack Exchange!** Your observations and feedback are crucial in ensuring our platform continues to operate at the highest level possible. # Legal Documentation ### General Legal * [Terms of Service](/legal-documentation/terms-of-service) * [Privacy Policy](/legal-documentation/general-legal/privacy-policy) * [Cookie Policy](/legal-documentation/general-legal/cookie-policy) ### Key Information Document * [Key Information Document](/legal-documentation/key-information-document) ### Risk Disclosures * [Risk Disclosures](/legal-documentation/risk-disclosure) ### Policies and Notices * [Order Execution Policy](https://eu.support.backpack.exchange/legal-documentation/order-execution-policy) * [Money Laundering Prevention Policy](/legal-documentation/money-laundering-prevention-policy) * [Conflict of Interest Policy](/legal-documentation/conflicts-of-interest-policy) * [Complaints Handling Policy](/legal-documentation/complaints-handling-policy) * [Client Categorization Policy](/legal-documentation/client-categorization-policy) * [Disclosure and Market Discipline Report for 2024 (Pillar III)](/legal-documentation/disclosure-and-market-discipline-report-for-2024-pillar-iii) * [Disclosure and Market Discipline Report for 2025 (Pillar III)](/legal-documentation/disclosure-and-market-discipline-report-for-2025-pillar-iii) * [Investor Compensation Fund Notice](/legal-documentation/investor-compensation-fund-notice) # Key Information Document Trek Labs Europe Ltd (d.b.a. Backpack EU) Perpetual Contracts on Cryptoassets {% file src="/files/8BAqL50zdRJTOPbPIcJ8" %} {% file src="/files/L3djSiamo0UnoGt8I4YB" %} {% file src="/files/PxDlm1uGWrpQr6uhnwSd" %} {% file src="/files/kt1i7vp26nEnOkOBP7W2" %} {% file src="/files/HqPnXrSb9lYBujhNCXpA" %} {% file src="/files/CcV2k1t1Bul3x0GZupLD" %} {% file src="/files/AiuHgEKjpYfxqIT9jHd1" %} {% file src="/files/VzP9lLxh3W3VCHqVAxXv" %} {% file src="/files/gnlHUfcnJ6M7stYU6Cto" %} {% file src="/files/uQ01azbqFzAPTOYZp7EI" %} {% file src="/files/nMkvvmMOrwijQX4KNIFb" %} {% file src="/files/NDMeyZ8tqEc7B6R6aE9n" %} {% file src="/files/NvYzbzAuiHv9qE1L9E1Q" %} {% file src="/files/yVPa55nmptebsQ5bAAOt" %} {% file src="/files/HWWL1sIpwZmNZLdbUQ5I" %} {% file src="/files/VV4GUEqoRVQDlasXntFh" %} {% file src="/files/qlrTRK1AViFkez6rPNGZ" %} {% file src="/files/ONPcB3iW3CkBk1G3w0k6" %} {% file src="/files/4itkYj6iBuePVkB7AJN0" %} {% file src="/files/NQ5TWoykndjFylkNIi4o" %} {% file src="/files/y6PCfFIgy0j0XI4XSGSY" %} {% file src="/files/BfeoOLrqeiIuVbFQI1XQ" %} {% file src="/files/fS39k5ObTNSHKMf1bJLh" %} {% file src="/files/3vVjQWKdeLQVH76NadB7" %} # Terms of Service You can review our **Terms of Service** for Backpack EU below: {% file src="/files/a2PToPEag03xqHNPmVth" %} **Risk warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all of your capital. Please consider our** [**Risk Disclosure**](broken://pages/zocmYdja4LPbWq71klPZ)**.** **Legal**: This website is operated by Trek Labs Europe Ltd, registration number HE335683, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. Trek Labs Europe Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 273/15. The company operates through [https://eu.backpack.exchange](https://eu.backpack.exchange/) and uses the trade name Backpack EU. # User Agreement You can review our **User Agreement** below: {% file src="/files/ldutYWggmAl5zvVwAjlC" %} *** **Risk warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all of your capital. Please consider our** [**Risk Disclosure**](broken://pages/zocmYdja4LPbWq71klPZ)**.** **Legal**: This website is operated by Trek Labs Europe Ltd (formerly FTX EU Ltd), registration number HE335683, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. Trek Labs Europe Ltd (formerly FTX EU Ltd) is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 273/15. The company operates through [https://eu.backpack.exchange](https://eu.backpack.exchange/) (formerly and [https://ftxeurope.eu](https://ftxeurope.eu/)) and uses the trade name Backpack EU (formerly FTX EU). # Privacy Policy Trek Labs Europe Ltd. dba Backpack EU ## 1. Introduction Backpack EU is a brand name owned and operated by Trek Labs Europe Ltd (hereinafter referred to as the “Company,” “Backpack EU,” “us,” or “we”), a company incorporated in Cyprus with registration number HE 335683 and authorised by the Cyprus Securities and Exchange Commission (“CySEC”) under license no. 273/15, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus and Business address at 47, Stavrou Avenue, Building Floor 2, 2035, Strovolos, Nicosia, Cyprus. Our products and services are delivered through local entities operating under the Backpack Exchange Group. This policy outlines the approach and commitment of Trek Lab Europe Ltd (the “Companyˮ) in safeguarding the privacy rights of individuals and any personal data, including special categories of personal data which the Company stores and processes, in compliance with data protection law. The Company will ensure that all the personal data that it stores and processes is done in line with the principles set out by the applicable Data Protection Legal Framework (including the General Data Protection Regulation (EU) 2016/679 – the “*GDPR*ˮ, the Law on the protection of natural persons against the processing of personal data and the free movement of such data, Law 125 (I) /2018 and/or other applicable regulations). This Privacy Policy applies to all clients (potential or existing clients), and it also covers any individuals visiting our website as described further below. Further information to whom this Policy is addressed to can be found below at Section 3. This Privacy Policy should be read in conjunction with our other corporate policies and procedures. ## 2. Scope of this Policy This Data Privacy Policy provides an overview of how the Company is processing Personal Data of natural persons. It is the Companyʼs policy to respect the confidentiality of information and the privacy of the Individuals. This Policy outlines how the Company manages personal data of the Individuals supplied to it by its Clients or by a third party in connection with the Companyʼs provision of services or which the Company collects from those that use its services and/or the Companyʼs app(s) or website(s). Furthermore, this Policy outlines the rights of the Individuals with respect to the processing of their personal data. This Policy applies to the processing of personal data by the Company in connection with the provision of its services through the Website, including any personal data provided through the use of the Website. This Policy also applies to the processing of personal data by affiliated companies who may provide financial and other back office services, including IT. For the purposes of this Policy “*Processing*ˮ refers to any operation or set of operations which is performed on Personal Data or on sets of Personal Data, whether or not by automated means, such as collection, recording, organisation, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction. For the purposes of this Policy, "*Personal data*" shall mean any information relating to a natural person (‘data subjectʼ) from which that person can be identified. It does not include data where the identity has been removed (anonymous data). The Company is committed to process Personal Data in compliance with the provisions of applicable Personal Data protection law (including the GDPR, applicable as of 25 May 20018) . The Company has appointed a Data Protection Officer to ensure that the management of personal data is in accordance with this privacy policy and the applicable legislation. ## 3. How is personal data collected by the Company As part of the Companyʼs everyday business, the Company may need to collect personal data from: ● the Clients or potential Clients or representatives, executives, shareholders, beneficial owners of Clients; ● the customers or potential customers of the Clients, ● the individuals that had or have a business relationship with the Company, ● the individuals connected with a Client or staff or a business associate of the Company where personal data is provided under a regulatory obligation e.g. to manage possible conflicts of interest and other regulatory obligations; and ● visitors to the Companyʼs website to ensure that the Company can meet the needs for a range of financial services and to provide them with information about the Companyʼs services. (collectively referred to as “Individualsˮ) We use different methods to collect data from and about the Individuals including through: ● Direct interactions. Individuals may give the Company their Identity, Contact and Financial Data by filling in forms or by corresponding with the Company by post, phone, email or otherwise. This includes personal data the Individuals provide when they: ● apply to become Clients; ● create an account on the Company’s website; ● subscribe to the Company’s service or publications; ● request marketing to be sent to them; ● enter a competition, promotion or survey; or ● give the Company feedback or contact the Company and/ or for any other similar purpose or reason. ● Automated technologies or interactions. As an Individual interacts with the Company’s website, the Company will automatically collect Technical Data about the Individual’s equipment, browsing actions and patterns, all in accordance with the Company’s Cookies Policy. The Company collects this personal data by using cookies, server logs and other similar technologies. The Company may also receive Technical Data about an Individual if the Individual visits other websites employing the Company's cookies. Please see our cookie policy for further details. ● Third parties or publicly available sources. The Company will receive personal data about an Individual from various third parties and public sources as set out below: We collect your personal data from the following sources: ▪ Directly from you (e.g., information provided during the onboarding stage, or through email or telephone correspondence). ▪ Background check agencies (e.g., compliance checks, etc). ▪ Due diligence investigations. ▪ Internet searches. ▪ Other third-parties when we seek to verify your identity – e.g., identity verification agencies etc. ▪ When you visit our website, e.g., collection of personal data when you complete any forms or provide your details via our Website, collection of basic information about your visit provided by your browser. ## 4. Collection and Processing of personal data by the Company The Company may collect and process the following types of personal data in relation to the Individuals: ● personal details such as name, surname, date of birth, place of birth, citizenship, nationality, including documentation required for the verification of your identity – e.g., passport, utility bills, bank statements etc; ● contact data such as residential address, email address and contact details; ● financial data, such as bank account details, investment portfolio, income, source of funds evidence (e.g., financial statements, tax returns etc); ● profession and employment details; ● transaction data on business initiation and ongoing business relationship (including date, time, communication channel, copy of correspondence, records of communication); ● usage data, i.e. information about how the Individual uses the Companyʼs Website. ● technical data such as information collected when the Individual accesses the Companyʼs Website, its internet protocol (IP) address, its login data, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform and other technology on the devices the Individual is using; ● Profile data includes the Individualʼs username and password, purchases or orders made by the individual and interests and preferences; and ● marketing and communication data such as marketing and communication preferences of the Individual. The Company may collect this information through the use of the provision of its investment services. These include, but are not limited to onboarding, news subscriptions and information provided in the course of ongoing client service correspondence. The Company may also collect personal data from other sources such as credit reference agencies, fraud prevention agencies or from publicly available sources to comply with its legal and regulatory obligations, such as Customer Due Diligence (CDD) and Anti-Money Laundering (AML) laws. The Company may record the communication that takes place between the Individuals and the Company in relation to the provision of investment services. These recordings will be the Companyʼs sole property and will constitute evidence of the communication between the parties. The Company may also obtain personal data through the use of its Website. This is achieved by using cookies on its Website, which in particular record which pages the Individual viewed on the Companyʼs Website. This information is necessary for maintaining the security of the Companyʼs services, providing necessary functionality, and improving the overall user experience. ## 5. Why the Company Processes Personal Data and on what legal basis The Company shall process Personal Data, only if it has a legal basis to do so. Specifically, the Company must have one or more of the following reasons to process an Individualʼs Personal Data: ● **When it is in the legitimate interests of the Company or another person with whom the data is shared, except where such interests are overridden by the interests or fundamental rights and freedoms of the data subject which require protection. (Art. 6(1)(f) GDPR)** ○ *To investigate or settle enquiries or disputes* - The Company may need to use personal data collected from Individuals to investigate issues and/or settle disputes with a Client as it is in the Companyʼs legitimate interests to ensure that issues and/or disputes get investigated and resolved as quickly and efficiently as possible. ○ *To help the Company improve its products and services, including Client services, and develop new products and services* - the Company may use from time to time personal information provided by the Individuals through the use of the services and/or through member surveys to help the Company improve its products and services. It is in the Companyʼs legitimate interests to use personal information in this way to ensure that the Company provides the Clients with the best products and services the Company can. ○ *Data Analysis* - The Companyʼs emails may contain web beacons or pixel tags or any other similar type of data analysis tools which allow the Company to track receipt of correspondence and to count the number of users that have opened the Companyʼs correspondence. Where an Individualʼs personal data is completely anonymised, the Company does not require a legal basis as the information will no longer constitute personal data. However, where the Individualʼs personal data is not in an anonymised form, it is in the Companyʼs legitimate interest to continually evaluate that personal data to ensure that the products and services the Company provides are relevant to the market. ○ *Corporate restructuring* - If the Company undergoes a corporate restructuring or part or all of its business is acquired by a third party, the Company may need to process the personal data of Individuals in connection with that restructuring or acquisition. ○ *Security* - If an Individual enters any of the Company's premises the Company may record the Individualʼs image on the Companyʼs CCTV for security reasons. The Company takes pictures to document who entered its premises on a particular day. It is in the Companyʼs legitimate interest to do this to maintain a safe and secure working environment. ○ *Surveys* - from time to time, the Company may send the Individual surveys as part of its Client feedback process. It is in the Companyʼs legitimate interest to ask for feedback to ensure it provides the best service to its Clients. All responses to any survey the Company sends out will be aggregated and anonymised before survey results are shared with any third parties. ○ *Establishment, exercise and defense of (legal) claims* – The Company may process and retain personal data beyond statutory retention periods where this is necessary to assess, establish, exercise or defend legal claims. This includes, in particular, the clarification of facts, the preservation of evidence as well as the handling and settlement of disputes. The processing is carried out on the basis of the Company’s legitimate interest in safeguarding its legal position and appropriately managing risks and is limited to what is necessary as well as to the duration of the applicable statutory limitation periods. ● **When processing is necessary for compliance with a contractual obligation to which the Company is subject (Art. 6 (1) (b) GDPR)** ○ *To manage business relationships and fiulfiil any contractual obligations* - The Company may need to process personal data in order to effectively manage the business relationship between the Company and the Client(e.g. to communicate with its Clients) to ensure that Clients are getting the best possible service from the Company. ● **When processing is necessary for compliance with a legal obligation to which the Company is subject (Art 6(1)(c) GDPR)** ○ *To comply with applicable law, regulations, directives, court order, other judicial process or the requirements of any applicable regulatory authorities* - the Company may need to use the Individualʼs personal data to comply with applicable laws, court orders or other judicial process, or the requirements of any applicable regulatory authority. For example, the Company may process personal information to comply with MiFID II requirements in contract reporting and to fulfil its obligations under Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. ○ *Internal business purposes and record keeping* - the Company may need to process personal data in order to comply with its legal and regulatory obligations. ● **When the Individual has given consent to the processing of his or her personal data for one or more specific purposes (Art 6(1)(a) GDPR)** ○ *Marketing Communications* - The Company may use the Individualʼs personal data to send marketing communications by email or phone or other forms (including social media campaigns) to ensure that the Individual is always kept up to date with the Companyʼs latest products and services. When the Company sends marketing communications, the Company does so either because it has a legitimate interest in them (Art. 6(1)(f) GDPR) or with the Individualʼs consent (Art. 6(1)(a) GDPR). ○ *Surveys* - from time to time the Company may ask Individuals to participate in order surveys (not part of the member feedback process). If the Individual agrees to participate in such surveys, the Company relies on its consent to use the personal data it collects as part of such surveys. All responses to any survey the Company sends out will be aggregated and anonymised before survey results are shared with any third parties. ## 6. Who receives the Personal Data ### 6.1 Within the Company Within the Company, access to Individualsʼ Personal data is given to those officers who require such access to perform the Companyʼs contractual, legal obligations and other required by law internal activities. ### 6.2 Outside the Company We shall collect, use or otherwise process your personal data when the applicable Data Protection Legal Framework allows us to. More specifically, and depending on the processing activity, we rely on the following lawful basis for collecting, using or otherwise processing your personal data: ▪ You have provided us specifically with your consent to the processing of your personal data – *ArťiclG 6(1)(a)* of the GDPR. ▪ Necessary for the Performance of a Contract – *ArťiclG 6(1)(b)* of the GDPR. ▪ Necessary for Complying with a Legal Obligation as a duly authorized investment firm – *ArťiclG 6(1)(c)* of the GDPR. ▪ To pursue our legitimate interests (except in cases where such interests are overridden by your interests or fundamental rights) – *ArťiclG 6(1)(fi)* of the GDPR. The Company requires organisations that are not affiliated with it and process personal data to respect the confidentiality of that information, to undertake to respect the privacy of individuals, and to comply with all applicable data protection laws and this privacy notice. With regard to transfers of personal data to companies outside of the EU or the European Economic Area, refer to the section below entitled ‘Transfers outside of the European Economic Areaʼ. Third party service providers such as credit referencing agencies may keep a record of any searches performed on the Companyʼs behalf and may use the search details to assist other companies in performing their searches. ### 6.3 List of Data Recipients We may disclose personal data to third parties where necessary for regulatory compliance, operational requirements, or service provision. As part of the processing activities outlined above, Backpack EU may share your personal data within the Backpack Exchange group of companies and with carefully selected third parties. Such disclosures are made solely for legitimate purposes and where permitted by law. All recipients are required to handle the data in accordance with applicable data protection regulations. These recipients include: ● Regulatory and Supervisory Authorities – We may share data with the Cyprus Securities and Exchange Commission (CySEC), the European Securities and Markets Authority (ESMA), and other competent authorities as required under applicable laws and regulatory obligations. ● Financial Institutions and Legal Advisors – This includes banks, payment service providers, auditors, legal advisors, and compliance consultants involved in transaction processing, anti-money laundering (AML) compliance, and legal obligations. ● Third-Party Service Providers – We may engage cloud storage providers such as AWS, IT system vendors, KYC/AML screening service providers such as Sumsub Refinitiv and AristaFlow GMBH, trading platform operators, and other outsourced service providers who process data on our behalf under strict confidentiality and security measures. ● Affiliated Entities – Where applicable, data may be shared within our corporate group for internal administration, risk management, or business operations such Trek Labs Ltd FZE (United Arab Emirates), Trek Labs Japan KK (Japan), Trek Labs Ltd (BVI) and Trek Labs UAB (Lithuania). ● Law Enforcement and Judicial Authorities – We may disclose personal data to law enforcement agencies, courts, or other competent authorities in response to legal requests, fraud prevention measures, or regulatory investigations. ● Clients and Counterparties – In cases where transactions require the involvement of liquidity providers, executing brokers, or counterparties, data may be shared to facilitate trade execution. ● Marketing and Communication Partners (if applicable) – If you have provided consent, we may share limited data with marketing partners for promotional communications, with the option to withdraw consent at any time. All data disclosures are conducted in compliance with the General Data Protection Regulation (GDPR) and applicable CySEC regulatory requirements, ensuring appropriate safeguards, contractual agreements, and confidentiality measures are in place. ## 7. Transfers outside of the European Economic Area The Company may transfer Individualsʼ personal data to countries outside the European Union and/ or the European Economic Area, ensuring that the Personal Data are adequately protected and that such transfer will comply with the requirements of the Data Protection Legislation at all times. If the Company transfers Individualʼs Personal Data to a third country outside the European Economic Area, the Company will make sure that Personal Data is protected in the same way as if it was being used in the ΕΕΑ. The Company will ensure that at least one of the following safeguards is implemented: ● Personal Data is transferred to a third country with privacy laws that give the same protection as the ΕΕΑ, as certified by an adequacy decision of the European Commission. ● Personal Data is transferred to organisations that comply with binding corporate rules, or an approved code of conduct or certification mechanism that requires its protection to the same standards as applicable in the ΕΕΑ. ● Put in place a contract with the recipient which includes the standard data protection clauses adopted by the European Commission or adopted by the supervisory authority and approved by the European Commission. ● Where the recipient in the third country has signed up to a code of conduct, which has been approved by a competent supervisory authority. The code of conduct must include appropriate safeguards to protect the rights of individuals whose Personal Data transferred, and which can be directly enforced. ● Where the recipient in the third country has a certification, under a scheme approved by a competent supervisory authority. The certification scheme must include appropriate safeguards to protect the rights of individuals whose Personal Data transferred, and which can be directly enforced. In the case where none of those bases apply, an Individualʼs Personal Data may still be transferred to a third country under the following conditions/ derogations, where: ● the Individual explicitly consented to the proposed transfer, after having been informed of the possible risks of such transfers due to the absence of an adequacy decision and appropriate safeguards; ● the transfer is necessary for the performance of a contract between the Individual and the Company, or the implementation of pre-contractual measures taken at the Individualʼs request; ● the transfer is necessary for the establishment, exercise or defence of legal claims; ## 8. Cloud Services and storage of Personal Data Safeguarding the privacy of information is important to the Company, whether an Individual interacts with the Company personally, by phone, by mail, over the internet or any other electronic medium. The Company holds personal data in a combination of secure computer storage facilities and paper-based files and other records, and takes steps to protect the personal data it holds from misuse, loss, unauthorised access, modification or disclosure. The Company uses cloud technology to store Individualsʼ Personal Data. The cloud service providers used by the Company and their data centres , are located in the European Union or outside EEA acting in accordance with the necessary provisions as stated under section 8. and thus, bound by the GDPR requirements. Despite this, there are cases where Personal Data may be transferred to or accessed from a third country for the purposes of the provision of the services outsourced or, if required by law, In such case the Company shall ensure that the relevant safeguards as mentioned above will apply so that the Company is in compliance with its GDPR obligations. The Company ensures contractually that the cloud service provider will apply principles of data minimization and will not use or otherwise process Personal Data for: (a) user profiling, (b) advertising or similar commercial purposes, or (c) market research aimed at creating new functionalities, services, or products or (d) any other purpose, unless such use or Processing is in accordance with Companyʼs documented instructions. Retention of Personal Data on cloud shall be in line with the general retention policy of the Company as described below. ## 9. For how long is Personal Data retained The Company shall retain your data as a duly authorised investment firm for a period of five (5) years, a timeframe that can be extended to seven (7) years under certain circumstances, specifically if this is requested by any competent authority. In addition, personal data may be retained where this is necessary for the establishment, exercise or defense of legal claims. In this respect, the retention period is based on the applicable statutory limitation periods Your data will be securely destroyed when it is no longer required for the fulfilment of the purposes for which such data was collected. ## 10. Rights of Individuals in relation to their Personal Data The Individualsʼ data protection rights, granted by GDPR regarding the processing of your personal data, are described below: ### 10.1 Right of Access The Individuals have the right to request access to their personal information; this enables them to receive a copy of the personal information the Company holds about them and check that the Company is lawfully processing it. ### 10.2 Right to be informed The Individuals have the right to be provided with clear and concise information about what the Company does with their personal data. Data subjects have the right to know how their personal information is collected and used. Under “the right to be informedˮ, businesses and websites must provide individuals with details of their personal data collection and processing. ### 10.3 Right to Rectification The Individuals have the right to request to correct their personal information the Company holds about them that is inaccurate or incomplete and the Company must inform them and any third parties to whom they disclose Individualsʼ information about the rectification. ### 10.4 Right to Erasure (also known as the “Right to be forgotten”) The Individuals have the right to have the Company delete or remove their Personal Data in the following circumstances: ● The Processing of the Personal Data by the Company is no longer necessary for any of the reasons the Personal Data was collected and used. ● The Individual has withdrawn his/her consent and there is no other legal ground for the Personal Data Processing. ● The Individual has successfully objected to the Processing of the Personal Data by the Company ● The Personal Data has been unlawfully processed. ● Deletion is required by law. It is clarified that the Company reserves its right to deny the said erasure, if the Processing is necessary for the Company to comply with its legal obligations, for reasons of public interest and/or for the exercise or defence of its legal claims, i.e. the right is not absolute, since it applies only in certain circumstances. ### 10.5 Right to restriction of Processing of Personal Data The Individuals also have the right to restrict the Company's use of their Personal Data in the following circumstances: ● pending verification by the Company of Personal Data the accuracy of which the Individual has contested ● the Processing is unlawful, but the Individual does not want his/her Personal Data to be erased ● the Company no longer needs the Personal Data, but the Individual does not want it to be erased because the Individual needs it for the establishment, exercise or defence of legal claims ● pending the Company's assessment where the Individual has objected to Processing intended to safeguard the Company's legitimate interests. ### 10.6 Right to data portability The Individuals have the right to receive their Personal Data from the Company in a structured, commonly used and machine-readable form. The Individuals can also ask the Company to transfer their Personal Data in this format to other organisations, where this is technically feasible. This right relates to the Personal Data which the Individuals have provided to the Company and which the Company processes electronically in reliance on their consent or for fulfilling the contract between the Individual and the Company. ### 10.7 Right to object The Individuals have the right to object to the Company's use of their Personal Data and ask the Company to stop using their Personal Data in any of the following circumstances: ● The Individual has the right to object to the Processing of his/her Personal Data on grounds relating to the Individualʼs particular situation, at any time to Processing of his/her Personal Data which is intended by the Company to safeguard its legitimate interests or to serve the public interest. If the Individual lodges an objection, the Company will no longer process his/her Personal Data unless the Company can demonstrate compelling legitimate grounds for the Processing which override the Individualʼs interests, rights and freedoms or unless the Processing is for the establishment, exercise or defence of legal claims. ● The Individual has the right to object to the Processing of his/her Personal Data for direct marketing purposes, including profiling. If the Individual lodges such an objection, his/her Personal Data will no longer be processed for such purposes. ● The Individual has the right to object to the Processing of his/her Personal Data for scientific or historical research purposes or statistical purposes, on grounds relating to his/her particular situation, unless the Processing is necessary for the performance of a task carried out for reasons of public interest. ### 10.8 Right to withdraw consent Where the Company relies on the Individualʼs consent for the Processing of his/her Personal Data, the Individual can withdraw his/her consent at any time. If the Individual withdraws his/her consent, the Company may not be able to provide certain products or services to the Individual. If this is so, the Company will inform the Individual before giving effect to his/her withdrawal notification. Please note that the withdrawal of the consent does not affect the legality of the Personal Data processed prior to the withdrawal. If the Individual wishes to exercise any of the above rights or seek more information about the collection, storage and handling of their personal data by the Company he must send an email to the designated Data Protection Officer of the Company at “[dpo@eu.backpack.exchangeˮ](mailto:dpo@eu.backpack.exchange) or contact the Companyʼs Customer Support Department at “[support@eu.backpack.exchangeˮ](mailto:support@eu.backpack.exchange). ### Note: ● The Company reserves the right to request specific information to confirm the Individualʼs identity, speed up its response and ensure the Individualʼs right to access their personal data or any other right as data subject. ● The Company must always respond to Individualsʼ requests within reasonable time and keep them updated. ● Responses to ARs shall normally be made within one month of receipt, however this may be extended by up to two months if the AR is complex and/or numerous requests are made. If such additional time is required, the data subject shall be informed accordingly without undue delay. (\*) Kindly be informed that there might be certain exceptions to the applicability of the aforesaid rights. If you have any questions or concerns about the exercise of your personal data rights, please contact us at . ## 11. Security and Data Breach The Company always takes appropriate technical and organisational measures to ensure that Personal Data is secure. In particular, the Company trains its employees who handle personal data to respect the confidentiality of Client information and the privacy of individuals In order to maintain security and prevent processing in infringement of the GDPR, the Company, in particular the Data Protection Officer, shall constantly monitor and evaluate the risks involved with data processing and implement measures to mitigate those risks. As soon as the Company becomes aware that a personal data breach has occurred, the responsible person should notify the supervisory authority without undue delay and, where feasible, not later than 72 hours after having become aware of it. Additionally, the Company shall communicate with data subject to a personal data breach without undue delay, where that personal data breach is likely to result in high risk to the rights and freedoms of the natural person in order to allow him or her to take necessary precautions. The communication should describe the nature of the personal data breach as well as recommendations for the natural person concerned to mitigate potential adverse effects. The Company regards breaches of privacy very seriously and will impose appropriate penalties, including dismissal where necessary. Our website may contain links to external sites. In such a case, this Privacy Policy will no longer apply, since we are not responsible for the personal data handling practices followed by third-party sites. We, therefore, encourage you to consult the other sitesʼ privacy policies. ## 12. Changes / Amendments to the Privacy Policy This Privacy Policy sets out the information that the Company must provide to the Individuals for the purposes of the GDPR. Any information in relation to the Processing of Personal Data that is included in any of the Company's existing circulars, manuals and associated forms on matters which are covered by this Policy are deemed to be superseded by the information in this Policy. The Company may revise or update this Policy from time to time. The new version of this Policy will be available on the Companyʼs website. In case of significant changes (such as in relation to the reasons for which the Company uses Personal Data or to the way in which Individuals may exercise the rights described above), the Company will bring these changes to the Individualsʼ attention. ## 13. Complaints If you have a concern about any aspect of our privacy practices, you can submit a complaint. This will be acted upon promptly. To make a complaint, please contact us via email at [support@eu.backpack.exchange](mailto:cutomersupport@eu.backpack.exchange). If you are not satisfied with our response to your complaint, you have the right to submit a complaint with our supervisory authority, the Office of the Commissioner for Personal Data Protection (the “Commissionerˮ). You can find details about how to do this on the Commissionerʼs website at [http://www.dataprotection.gov.cy](http://www.dataprotection.gov.cy/) or by calling them on +357 22818456. ## 14. Contact us If you have any questions regarding this policy, wish to access or change your information or have a complaint, or if you have any questions about security on our website, you may email us at [support@eu.backpack.exchange](mailto:cutomersupport@eu.backpack.exchange).

April 2026

# Cookie Policy Trek Labs Europe Ltd. dba Backpack EU PRIVACY STATEMENT *** ### **DATA PROTECTION NOTICE** **The controller as per the EU General Data Protection Regulation (GDPR) is:** Trek Labs Europe Ltd. („We“) \ 47, Stavrou Avenue, Building Floor 2,\ 2035, Strovolos, Nicosia, Cyprus \ E-Mail: **Data Protection Officer:** Trek Labs Europe Ltd..\ Data Protection Officer 47, Stavrou Avenue, Building Floor 2, \ 2035, Strovolos, Nicosia, Cyprus \ E-Mail: ## 1. Data protection We are pleased about your visit on our web pages and your interest in our offers. Our products and services are delivered through local entities operating under the Backpack Exchange Group. The protection of your personal data is an important concern for us. In this Privacy Statement we explain how we collect your personal data, what we do with it, for what purposes and on what legal basis this is done, and which rights and claims are associated with it for you. In addition, please refer to our Data Privacy Policy. Our Privacy Statement for the use of our websites and the Data Protection Policy do not apply to your activities on the websites of social networks or other providers that you can reach via the links on our websites. Please check the websites of these providers for their data protection regulations. ## 2. Collection and processing of your personal data a. When you visit our website, we store certain information about the browser and operating system you use, the date and time of your visit, the access status (e.g. whether you were able to access a website or received an error message), the use of website functions, the search terms you may have entered, the frequency with which you access individual websites, the designation of files accessed, the amount of data transferred, the website from which you accessed our websites and the website which you visit from our websites, either by clicking on links on our websites or by entering a domain directly in the input field of the same tab (or the same window) of your browser in which you opened our websites. We also store your IP ad-dress and the name of your Internet service provider for seven days for security reasons, in particular to prevent and detect attacks on our websites or attempts at fraud. b. We only store other personal data if you provide this data, e.g. as part of a registration, a contact form, a survey, a price competition or for the execution of a contract, and even in these cases only insofar as this is permitted to us on the basis of a consent given by you or in accordance with the applicable legal provisions (further information on this can be found below in the section "Legal bases of processing"). c. You are not legally or contractually obliged to make available your personal data. However, it is possible that certain functions of our websites depend on the availability of personal data. If you do not make available personal data in these cases, this may result in functions not being available or only being available to a limited extent. ## 3. Purposes of use a. We use the personal data collected when you visit our website in order to operate it in the most convenient manner for your use and to protect our IT systems from attacks and other illegal activities.\\ \ b. If you provide us with further personal data, e.g. within the scope of a registration, a contact form, a survey, a price competition or for the execution of a contract, we use this data for the purposes mentioned, for the purposes of customer administration and - if necessary - for the purposes of processing and accounting of any business transactions, in each case to the extent required for this. ## 4. Transfer of personal data to third parties; social plug-ins; use of service providers As part of the processing activities outlined above, Backpack EU may share your personal data within the Backpack Exchange group of companies and with carefully selected third parties. Such disclosures are made solely for legitimate purposes and where permitted by law. All recipients are required to handle the data in accordance with applicable data protection regulations. a. Our websites may also contain an offer from third parties. If you click on such an offer, we transfer data to the respective provider to the required extent (e.g. information that you have found this offer with us and, if applicable, further information that you have already provided on our websites for this purpose). b. When we use social plug-ins on our websites from social networks such as Facebook and Youtube, we integrate them as follows: When you visit our websites, the social plug-ins are deactivated, i.e. no data is transmitted to the operators of these networks. If you want to use one of the networks, click on the respective social plug-in to establish a direct connection to the server of the respective network. If you have a user account on the network and are logged in when you activate the social plug-in, the network can associate your visit to our websites with your user account. If you want to avoid this, please log out of the network before activating the social plug-in. When you activate a social plug-in, the network transfers the content that becomes available directly to your browser, which integrates it into our websites. In this situation, data transmissions can also take place that are initiated and controlled by the respective social network. Your connection to a social network, the data transfers taking place between the network and your system, and your interactions on that platform are governed sole-ly by the privacy policies of that network. The social plug-in remains active until you deactivate it or delete your cookies. c. If you click on the link to an offer or activate a social plug-in, personal data may reach providers in countries outside the European Economic Area that, from the point of view of the European Union ("EU"), may not guarantee an "adequate level of protection" for the processing of personal data in accordance with EU standards. Please remember this fact before clicking on a link or activating a social plug-in and thereby triggering a transfer of your data. d. We also use qualified service providers (IT service providers, marketing agencies, IT-supplier) to operate, optimize and secure our websites. We only pass on personal data to third parties if and to the extent necessary for the provision and use of the websites and their functionalities, for the pursuit of legitimate interests or if you have consented to it (see section “Legal bases of processing” below). ## 5. Security We use technical and organisational security measures to protect your data managed by us \ against manipulation, loss, destruction and against access by unauthorised persons. We are \ constantly improving our security measures in line with technological developments. ## 6. Legal bases of processing a. Insofar as you have given us your consent for the processing of your personal data, that consent is the legal basis for the processing (Art. 6 para. 1 letter a GDPR).\\ \ b. For the processing of personal data for the purposes of initiating or fulfilling a contract with you, Art. 6 para. 1 letter b GDPR is the legal basis.\\ \ c. Insofar as the processing of your personal data is necessary for the fulfilment of our legal obligations (e.g. for the retention of data), we are authorized to do so pursuant to Art. 6 para. \ 1 letter c GDPR.\\ \ d. In addition, we process personal data for the purposes of safeguarding our legitimate interests and the legitimate interests of third parties pursuant to Art. 6 para. 1 letter of GDPR. Maintaining the functionality of our IT systems, (direct-) marketing our own and third-party products and services as well as documenting business contacts as required by law are such legitimate interests. As part of the consideration of interests required in each case, we take into account various aspects, in particular the type of personal information, the purpose of processing, the circumstances of processing and your interest in the confidentiality of your personal information. ## 7. Deletion of your personal data Your IP address and the name of your Internet service provider, which we only store for security reasons, will be deleted after seven days. Otherwise, we delete your personal data as soon as the purpose for which we have collected and processed the data ceases to apply. Beyond this time period, data storage only takes place to the extent made necessary by the legislation, regulations or other legal provisions to which we are subject in the EU or by legal provisions in third-party countries if these have an appropriate level of data protection. Should it not be possible to delete data in individual cases, the relevant personal data are flagged to restrict their further processing. ## 8. Rights of the data subject a. As a data subject, you have the right of access (Art. 15 GDPR), right to rectification (Art. 16 GDPR), right to erasure (Art. 17 GDPR), right to restriction of processing (Art. 18 GDPR) and right to data portability (Art. 20 GDPR).\\ \ b. If you have consented to the processing of your personal data by us, you have the right to revoke your consent at any time. The legality of processing your personal data before revocation remains unaffected. We may further process such data pursuant to another applicable legal basis, e.g. for the fulfilment of our legal obligations (see section "Legal bases of processing").\\ \ c. Right to object \ You have the right to object at any time to the processing of your personal data pursuant to Art. 6 para. 1 letter e GDPR (data processing in the public interest) or Art. 6 para. 1 letter of GDPR (data processing on the basis of a balance of interests) on grounds relating to your particular situation. If you object, we will only process your personal data if we can prove compelling legitimate reasons that outweigh your interests, rights and freedoms, or for the establishment, exercise or defence of legal claims. To the extent we process your personal data for direct marketing purposes, you have the right to object there to at any time without giving reasons.\\ \ d. We ask you to address your claims or declarations to the following contact address if \ possible: \\ \ If you believe that the processing of your personal data violates legal requirements, you have \ the right to lodge a complaint with a competent data protection supervisory authority (Art. 77 \ GDPR). ## 9. Newsletter If you subscribe to a newsletter offered on our website, the data provided in the newsletter subscription will only be used for sending the newsletter, unless you agree to further use. You can unsubscribe at any time using the unsubscribe option provided in the newsletter. ## 10. Data transmission to recipients outside the European Economic Area a. When using service providers (see section “Use of service providers”), personal data may be transferred and processed by recipients in countries outside the European Union ("EU"), Iceland, Liechtenstein and Norway (= European Economic Area), in particular the USA and Japan. This includes entities within the Backpack Exchange Group, service providers, and business partners, subject to appropriate and lawful data transfer mechanisms\\ \ b. From the point of view of the EU, the following countries provide an adequate level of protection for the processing of personal data in accordance with EU standards (so-called adequacy decision): Andorra, Argentina, Canada (limited), Faroe Islands, Guernsey, Israel, Isle of Man, Japan, Jersey, New Zealand, South-Korea, Switzerland, United Kingdom, United States of America (limited), Uruguay. We agree with recipients in other countries to apply EU standard contractual clauses, binding company regulations or other applicable instruments (if any) in order to create an appropriate level of protection in accordance with the legal requirements. For more information, please use the contact details given in the section “Rights of the data subject” above. ## 11. STATEMENT ON THE USE OF COOKIES We use cookies and similar software tools such as HTML5 Storage or Local Shared Objects (together "cookies") that are technically necessary to provide this website to you, including all of its functions and services that you use. ### 1. Functions and use of cookies a. Cookies are small files that are placed on your desktop, notebook or mobile device by a website you visit. From this we can, for example, manage your selections in the online vehicle configurator, maintain your log-in status or manage your shopping cart (as relevant). Cookies may also contain personal data (such as a pseudonymous sequence of characters identifying your browsing session). b. You can also visit our website without the use of cookies. This means that you can reject and delete cookies at any time by making the appropriate settings on your device. This is done as follows: * i. Most browsers are pre-set to automatically accept cookies. You can change this setting by activating the setting *do not accept cookies* in your browser. * ii. You can delete existing cookies at any time. You can find out how this works in detail in the instructions of your browser or device manufacturer. * iii. Like the use of cookies, their rejection or deletion is also linked to the device used and also to the browser used in each case. You must therefore reject or delete the cookies separately for each of your devices and, if you use several browsers, also for each browser. c. If you decide against the use of cookies, it is possible that not all functions and services of our websites are available to you or that individual functions or services are only available to you to a limited extent. ### 2. List of cookies We use the following technical necessary cookies on our website: | **Name** | **Description** | **Storage period** | | ------------- | -------------------------------------- | ------------------ | | accessKey | authentication | 2 days | | refreshKey | authentication | 2 days | | aws-waf-token | captcha (prevent bots from logging in) | 4 days | Last update: August 2025 *** **Risk warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all of your capital. Please consider our** [**Risk Disclosure**](broken://pages/zocmYdja4LPbWq71klPZ)**.** **Legal**: This website is operated by Trek Labs Europe Ltd, registration number HE335683, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. Trek Labs Europe Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 273/15. The company operates through [https://eu.backpack.exchange](https://eu.backpack.exchange/) and uses the trade name Backpack EU. # Order Execution Policy Trek Labs Europe Ltd. dba Backpack EU ORDER EXECUTION POLICY *** ## 1. INTRODUCTION Trek Labs Europe Ltd (hereinafter called the "Company", "us", or "we"), is a Cyprus Investment Firm (“CIF”) licensed and regulated by the Cyprus Securities and Exchange Commission (“CySEC”) license 273/15, incorporated and registered under the laws of the Republic of Cyprus with registration No. 335683. The Company has established this Order Execution Policy (the “Policy”) in accordance with the Markets in Financial Instruments Directive 2014/65/EU (“MiFID II”) and in accordance with the Law regarding the provision of investment services, the exercise of investment activities and the operation of regulated markets L.87(I)/2017, as amended from time to time (the “Law”). MiIFD II requires firms to take all sufficient steps to obtain, when executing orders, the best possible result for their clients taking into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order. ## 2. SCOPE OF THIS POLICY This Policy applies to Retail and Professional Clients (please refer to the Company’s Client Categorisation Notice for more details). This Policy does not apply to Eligible Counterparties. This Policy applies when receiving and transmitting Client Orders or executing Client Orders for the Client and when taking decisions to deal for all types of financial instrument, as applicable, offered by the Company to the Client. The Company provides execution services to its clients in relation to exchange-traded derivative financial instruments under MiFiD II and arranges the execution of orders on a third-party EU-regulated Multilateral Trading Facility. The Policy sets out the execution procedures for the financial instruments offered by the Company. Clients must therefore ensure that they have read, understood and consent to the contents of this Policy before trading with the Company. ## 3. DELIVERING BEST EXECUTION AND BEST INTEREST According to the Regulations, the Company is required to take all sufficient steps to obtain, when executing orders, the best possible result for their clients taking into account price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order. This Policy is designed to provide clients with the best possible result for orders executed rather than the best possible result in respect of every single occasion. The Company's operations times are: round - the - clock, seven days a week. Any changes in the Company's operations times as well as holidays and trading times for specific financial instruments are shown on the Company's website. ### 3.1 Specific client instructions Any specific instructions from a client may prevent the Company from taking the steps that have been designed and implemented in this Policy to obtain the best possible result from the execution of those orders in respect of the elements covered by those instructions. Hence such orders are executed under the Client’s responsibility with no liability on the Company. However, by executing a client’s order based on the specific instructions provided by the Client, the Company shall satisfy its obligation to provide the Client with best execution. If Clients provide specific instructions in respect of part of their orders only, the Company will apply this Policy to the remainder of the order. ### 3.2 Risks associated with execution Clients should be aware of the risks associated with execution, placement which include but are not limited to: * Slippage * Execution of orders placed during periods of high volatility * Trading System or Internet Connectivity Execution Delays ### 3.3 Best Execution Factors (Execution Criteria) In the absence of specific client instructions, the Company shall take all sufficient steps to obtain the best possible results for its Clients taking into account the following factors when executing Clients’ Orders: #### 3.3.1 Price With respect to exchange-traded financial instruments, the Company will provide its clients prices available from the execution venue(s). Such prices are determined by the offer and demand of buyers and sellers on the market, with consideration of the price of the underlying asset of such a financial instrument, which are represented by benchmark indices. The use of different benchmark indices by different execution venues may produce material differences in the price of apparently similar instruments and therefore the reference prices may not be comparable. The Company will periodically review the underlying benchmark price levels for comparison with similar benchmarks to ensure it continues to adhere to the best interests of clients on price. #### 3.3.2 Costs Costs are any additional charges that may be incurred in executing the order in a particular way over and above the Company’s normal charges. The costs quoted by the Company for trading its financial instruments are inclusive of any costs by third-party execution venues such as clearing or settlement fees involved in the execution of Client orders. For opening a position, the client may be required to pay commission or funding rates, the amount of which is disclosed on the Company’s Website. Commissions may be charged either in the form of a percentage of the overall value of the trade or as fixed amount. For all types of instruments that the Company offers, the commission and funding rates are not incorporated into the Company’s quoted price for the instruments and are instead charged explicitly to the Client account. The Company takes all reasonable steps to keep the costs of transactions as low and competitive, to the extent possible. #### 3.3.3 Speed of Execution The Company places a significant importance when executing client’s orders and strives to offer high speed of execution, within the limitations of technology and communications links, at all times. The Company takes utmost care to ensure fastest possible order execution by maintaining high speed connections through servers hosted globally. Trading platform is scrutinized from time-to-time to test its performance. The use of wireless connection or dial-up connection or any other form of unstable connection at the client’s end, may result in poor or interrupted connectivity or lack of signal strength causing delays in the transmission of data between the client and the Company when using the Company’s platform. For example, the client’s order might be delayed to be received by the Company’s platform and thus it may affect the price of execution. Execution speed and the opportunity for price improvement are critical to every trader and we repeatedly monitor these factors to ensure we maintain our high execution standards. #### 3.3.4 Likelihood of execution and settlement The likelihood of execution depends on the availability of liquidity by the execution venues while the likelihood of settlement refers to the reliability that the transaction will be fulfilled by both parties. In some cases it may not be possible to arrange an order for execution, for example but not limited in the following cases: * during major news times, * during volatile markets where prices may move significantly up or down and away from declared prices, * at times of rapid price movement if the price rises or falls in one trading session to such an extent that under the rules of the relevant exchange trading is suspended or restricted, * where there is insufficient liquidity for the execution of the specific volume at the declared price, * if force majeure event has occurred. In the event that the Company is unable to proceed with an order with regard to price or size or other reason, the order will not be executed. In addition, the Company is entitled, at any time and at its discretion, without giving any notice or explanation to the Client, to decline or refuse to transmit or arrange for the execution of any order or of the Client in circumstances explained in the Client Terms and Conditions. The Company will continuously monitor the liquidity of its execution venues to ensure that it supports the best execution to its clients. #### 3.3.5 Size of order For each product and order type, the Company allows a minimum and a maximum trade size. The relevant sizes vary depending on relevant market conditions that relate to the specific underlying instrument and the overall exposures. The Company reserves the right to decline an order, in case the size of the order is large and cannot be filled. #### 3.3.6 Nature of the Market Some factors may rapidly affect the price of the underlying instruments/products from which the Company’s quoted price is derived and may also affect other factors listed herein. The Company will take all sufficient steps to obtain the best possible result for its Clients. The Company does not consider the above list exhaustive and the order in which the above factors are presented shall not be taken as priority factor. Nevertheless, whenever there is a specific instruction from the Client, the Company shall make sure that the Client’s order shall be executed following the specific instruction (referabove for further details). The duty of best execution does not only relate to price but also involves the consideration of various factors including cost, speed and likelihood of execution and settlement. Even if a trade appears not to have been executed at the best possible price, it does not necessarily constitute a violation of the duty of best execution. ### 3.4 Types of Order(s) in trading Financial Instruments #### 3.4.1 Nature of the order Given the nature of risk and volatility of financial markets, the client may want to consider using different types of orders to limit risk and manage investment strategies. The particular characterizing of an order can affect the execution of the client’s order. The following types of orders can be placed (it should be noted that the following descriptions of order types may apply only to some and not all types of financial instruments): * “**Limit Order**”: In general, a limit order is an order sent that will buy/sell up to a certain price. Limit orders are not guaranteed to get filled--if no one is willing to sell below the limit price (or buy above, in the case of a sell limit order) then the order will not be fully filled and the remainder will be sent as a providing order on the orderbook at the limit price. However, limit orders do guarantee that to the extent you do get filled on it, the fills will be at a price no worse than your limit price. * “**Market Order**”: A market order is an order sent as far through the book as possible. Normally this means that market orders will get fully filled but that it could be at any price. * “**Stop Loss**” (Limit and Market): When creating a stop-loss order, the client directly inputs the desired trigger price. If the client is buying, the order will get sent when the market price exceeds the trigger price. If the client is selling, the order will get sent when the market price drops below the trigger price. * “**Take Profit**” (Limit and Market): Like for a Stop-loss order, the client directly inputs the trigger price when creating a Take profit order. If the client is buying, the order will get sent when the market price drops below the trigger price. If the client is selling, the order will get sent when the market price exceeds above the trigger price. * “**Pending Order**”, which is an order to be executed at a later time at the price that the Client specifies. The Company will monitor the Pending Order and when the market price reaches the price specified by the Client, the Pending Order will automatically become a specified Order. * **"Stop-Out" Order:** The Company has the right without the consent of the Client or by giving any prior notice to close the Client's open position in the event the client has not the sufficient funds as per our terms and conditions for maintaining his open positions. All of the stop order types are triggered by the mark price of the relevant market. Mark price is the median of bid, ask, and last. Orders of Stop Loss and Take Profit can be attached to a pending order. After a pending order has triggered, its Stop Loss and Take Profit levels will be attached to the open position automatically. ### 3.5 Determination of the relative importance of the Execution Factors (Execution Criteria) In considering the application of best execution to client orders, the Company will consider the relative importance of the execution factors by reference to the following criteria in order to provide clients with the best result for their orders: * the characteristics of the client, including the categorisation of the client as a Retail or Professional client – Professional clients may have different needs than Retail clients; * the characteristics of the client order – such as the potential of the order to have an impact on the market; * the characteristics of the financial instruments that are the subject of that order – such as liquidity and whether there is a recognized centralized market; * the characteristics of the Execution Venues or entities to which that order can be directed – particular features of the liquidity sources available to the Company. The relative importance assigned to each of the executions factors is as follows: * Price: High * Costs: High * Speed of execution: High * Likelihood of execution and settlement: High * Size: Medium * Nature of market: High For its exchange-traded products, the Company will consider the total consideration payable by the client as an appropriate concept to deploy in determining how to apply the factors listed above. Total consideration is the price of the financial instrument and the costs related to execution. It is noted that the Company may consider that in certain cases the speed, likelihood of execution and settlement, the size and nature of the order, the market impact and any other implicit transaction costs may give precedence over the immediate price and cost consideration only insofar as they are instrumental in delivering the best possible result in terms of total consideration. ## 4. EXECUTION VENUES To achieve best execution for its exchange-traded financial instruments, the Company has selected a single execution venue approach to enable it to consistently achieve best execution for its clients. This approach was selected based on: * The financial instruments offered by the Company are customised and feature unique terms, pricing models and benchmarks. As such, identical instruments are not available on other venues. While similar instruments may exist elsewhere, they serve only as indicative references and are not true substitutes. * Beyond the above, only a limited number of venues within Europe meet the regulatory standards under MiFID II and related guidance, while being simultaneously independent. Accordingly, for its exchange traded derivatives, the Company selected PM MTF Ltd, an EU Multilateral Trading Facility operating in Cyprus and regulated by the Cyprus Securities and Exchange Commission. The Company has satisfied itself that it meets the requirements to meet best execution for its clients. The Company will continue monitoring its best execution approach, including the choice of Execution venue as described in Section 6. ## 5. CLIENT ORDER HANDLING AND ALLOCATION POLICY In accordance with the obligations under the Regulations, the Company will endeavour to provide clients with prompt, fair and expeditious execution of client orders placed with the Company, relative to other orders from its clients. In so doing, the Company: * promptly and accurately records and allocates orders executed on behalf of clients; * carries out comparable client orders sequentially and promptly unless the characteristics of the order or prevailing market conditions make this impracticable, or the interests of the client require otherwise; and * informs Retail clients about any material difficulty relevant to the proper carrying out of orders promptly upon becoming aware of the difficulty. All executed trades are immediately viewable on the Client’s account, as is the ‘profit and loss’ associated with closed trades, and all sufficient steps are taken to ensure accuracy. In some occasions, orders executed on the online trading system may get executed at wrong prices. The Company has the right to review the client’s order's details in terms of price, time, volume and the validity of execution type whether they are in the form "Pending" or "Market" orders through the online trading system, and in case of any discrepancies, the Company - without prior notice- will take the proper actions to correct the details of the given orders where and when possible. Where the Company aggregates a client order with one or more other orders and the client order is partially executed, it will allocate the related trades in accordance with fair and equal treatment and on a pro-rata basis depending on the size of the order received (e.g. block trades) and the liquidity of the market related to the specific financial instrument in question. ## 6. Review of this Policy The Company shall review annually this Policy established (by the Company's Dealing Room and Compliance Department and be approved by the Company's Board of Directors), as well as any relevant order execution arrangements. Such a review shall also be carried out whenever a material change occurs, that affects the ability of the Company to continue to obtain the best possible result when executing client's orders. A material change shall be a significant event that could impact parameters of best execution such as cost, price, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order. The Company shall assess whether a material change has occurred and shall consider making changes to the relative importance of the best execution factors in meeting the best execution requirement. The Company shall notify clients with whom it has an ongoing client relationship of any material changes to its order execution arrangements or Execution Policy. ### 6.1 Review and monitoring the effectiveness of arrangements and execution quality The Company shall ensure, at all times, that the design and review process of this Policy is appropriate and takes into account any new services or products offered by the Company. In addition, the Company shall monitor on an on-going basis the effectiveness of the Execution Policy and the relevant order execution arrangements. In particular, the Company shall assess, on a regular basis, whether the Execution Venues/entities included in this Policy for order execution provide for the best possible result for the client, or whether the Company needs to make changes to its execution arrangements. This shall involve a combination of brokerage department and compliance monitoring. The Company assesses on a regular basis, particular transactions in order to determine whether it has complied with its execution policy and/or arrangements, and whether the resulting transactions have delivered the best possible result for the client. Monitoring may include comparing similar transactions: * on the same Execution Venue or with the same entity, in order to test whether the Company's judgment about how orders are executed is correct, or * on different Execution Venues or entities chosen from among those in the Company's Execution Policy, in order to test whether the 'best' Execution Venue or entity is being chosen for a given type of transaction. The Company has procedures and processes in place to analyse the quality of execution, as well as to monitor best execution, by: * reviewing system settings/ parameters; * systematically comparing prices provided by its Execution Venues against external price sources or other venues to ensure that there are no significant or systematic deviations in the pricing provided to its clients; * monitoring the quality of execution by reviewing statistics related to frequency of rejections and re-quotes; * checking the speed of price updating; * comparing the Company's average speed of execution with industry standards; * monitoring any complaints related to the quality of execution in order to ensure that any deficiencies are improved. ## 7. CLIENT CONSENT This Policy forms part of the agreement between the Company and the client. Therefore, by entering into an agreement with the Company, the client also agrees to the terms of this Execution Policy, as presented in this document. The Company considers that its clients have given consent to this Policy, as well that they have given consent to the Company to receive and transmit an order for execution outside a Trading Venue. ## 8. QUESTIONS Any reasonable and proportionate requests for information about the Company's policies or arrangements and how these are reviewed by the Company, the Company shall provide clear answers within a reasonable time. For further enquiries regarding the Company's Execution Policy please contact the Company at .
# Risk Disclosure Trek Labs Europe Ltd. dba Backpack EU RISK DISCLOSURE POLICY *** ## 1. Introduction Backpack EU is a brand name owned and operated by Trek Labs Europe Ltd (hereinafter referred to as the “Company,” “Backpack EU,” “us,” or “we”), a company incorporated in Cyprus with registration number HE 335683 and authorised by the Cyprus Securities and Exchange Commission (“CySEC”) under license no. 273/15, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. This risk disclosure document provides a general overview of the main financial products offered by the Company and their associated risks and is provided to you (our Client or prospective Client) in compliance with the Provision of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets and Other Related Matters Law87(I)/2017,Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, as subsequently amended from time to time which is applicable to the Company. All Clients and prospective Clients should read carefully the following risk disclosure before applying to the Company for a Client Account and before they begin to trade with the Company. However, it is noted that this document cannot and does not disclose or explain all of the risks and other significant aspects which the Client should take into account in relation to a particular investment in Financial Instrument (FI). It is intended to give the Client information on and a warning of the risks associated with FIs so that the Client is reasonably able to understand the nature and risks of the services and of the specific types of Financial Instruments being offered and, consequently, to take investment decisions on an informed basis. This Risk Disclosure forms part of the Client’s agreement with the Company and therefore by entering into an agreement with the Company you also agree to the terms of this Risk Disclosure, as set out in this document. ## 2. Acknowledgement Clients are ultimately responsible for all of the losses suffered in their account. As a consequence, Clients should be prepared to lose all funds which they deposited. Clients are also responsible for losses that exceed their profits and deposits. Clients should never fund their trading activities with retirement savings, loans, mortgages, emergency funds, funds set aside for purposes such as education or home ownership, or funds required for current income or present or future medical expenses. Derivative Financial Instruments are complex products and are not suitable for all investors. Prior to trading, you are responsible to acknowledge and understand the risk associated with Derivative Financial Instruments and in the event, you do not understand them you should seek advice from a professional and independent financial advisor. ## 3. Risk warning You fully understand and agree that the company cannot guarantee the initial capital that has been invested in Instruments or the value of your portfolio. In addition, regardless of any information that has been offered to you by the company, the value of any investment Instruments may fluctuate downwards or upwards and there is always a possibility that the entire investment will not carry any value. You are fully aware that trading carries a high level of risk and more specifically the possibility of losing all of your invested funds. Therefore, trading may not be suitable for you. You should not engage in any investment directly or indirectly in Financial Instruments unless you know and understand the risks involved for each one of the Financial Instruments offered by the Company. Prior to applying for and opening an account with the Company you should consider carefully whether investing in a specific Financial Instrument is suitable for you in the light of your personal circumstances and financial resources. In addition, as a client you should not invest money that you cannot afford to lose. Prior to trading, you are responsible to acknowledge and understand the risk associated with it. In the event, you do not understand them, you should seek advice from a professional and independent financial advisor. We do not offer investment advice. You understand that trading in derivatives does not lead to ownership of the underlying instrument. Derivatives are complex products and are not suitable for all investors. Before trading, you should ensure that you fully understand the risks and costs involved. You should have extensive experience of trading in volatile markets as well as sufficient time to manage your investment on an active basis. If necessary, seek independent advice. Trading derivatives can be utilized for the management of investment risk, some of these products are unsuitable and not appropriate for many clients as they carry a high degree of risk. You acknowledge and accept the following: * You fully understand and agree that the Company cannot guarantee the initial capital that has been invested in Financial instruments or the value of your portfolio. In addition, regardless of any information that has been offered to you by the Company, the value of any investment in \ \ Financial Instruments may fluctuate downwards or upwards and there is always a possibility that the entire investment will not carry any value. * Information of the previous performance of an Instrument does not necessarily guarantee its current and/or future performance. The use of historical data does not constitute a binding or safe forecast as to the corresponding future performance of the Instrument to which the said information refers. * Some Instruments may not become immediately liquid as a result, for example, of reduced demand and the Client may not be in a position to sell them or easily obtain information on the value of these Instruments or the extent of the associated risks. * When an Instrument is traded in a currency other than the currency of the Client's country of residence, any changes in the exchange rate may have a negative effect on its value, price and performance. * An Instrument on foreign markets may entail risks different to the usual risks of the markets in the Client's country of residence. In some cases, these risks may be greater. The prospect of profit or loss from transactions on foreign markets is also affected by exchange rate fluctuations. * A Derivative Instrument (i.e. option, future, forward, swap, contract for difference) may be a non-delivery spot transaction giving an opportunity to make profit on changes in the underlying asset (currency rates, commodity, stock market indices or share prices) though you do not own the underlying asset. * The value of the derivative Instrument may be directly affected by the price of the security or any other underlying asset which is the object of the transaction. * The Client must not purchase a derivative Instrument unless he is willing to undertake the risks of losing entirely all the money which he has invested and also any additional commission and other expenses incurred. * The value of the Instrument may decrease and the client may receive less money than originally invested or the value of the Instruments may present high fluctuations. * The Client acknowledges and accepts that irrespective of what type of order they place with the Company under certain circumstances including but not limited the ones mentioned on our Order Execution Policy found on the Company’s Website may not be possible to be executed at all and any stop loss orders or orders with similar effect might not be able to reduce the Client losses and even though the Client placed a stop loss or a similar type of order they still run the risk of losing their entire investment. * The Company is not responsible for any trading failure and not liable for any damage, cost or expenses the Client incurs caused directly or indirectly by malfunction and / or disruption and /or failure of its trading platform and website. The Company does not accept any liability if such events occurred. * The Company has no responsibility in relation to your access to the Company’s website, and/or the Company’s trading platform if the internet is subject to events which may affect such access, including but not limited to internet disconnection, public electricity network failures, interruptions or transmission blackouts, or software and hardware failures. The Company shall not be responsible for any damages or losses resulting from such events which are beyond its control or for any other losses, costs, liabilities or expenses which may result from your inability to access the Company’s website and/ or trading platform or delay or failure in sending orders or transactions. * The Client acknowledges and accepts that there may be other risks which are not contained above. ## 4. Instruments related to virtual Currencies Virtual Currencies' values can widely fluctuate (high volatility) and may result in significant gain or loss over a short period of time. This applies to a derivative instrument with Virtual Currencies as underlying in the same manner. These products are not appropriate for all investors and you should not trade it, if you don't have the necessary knowledge and expertise, moreover be fully aware and understand the specific characteristics and risks of these products. Due to the high risks involved in the trading of CFDs on virtual currencies you are faced with a high risk of losing all of your invested capital. Furthermore, trading in such products you are not entitled to any protection under the Investors Compensation Fund and, in case of a dispute with the Company, you have no right to report to the Cyprus Financial Ombudsman. ## 5. Knowledge of our Trading Platform Clients must be knowledgeable in the use and functionality of the trading platform provided by the Company or by any third-party provider, in order to correctly interpret account information and to be able to place orders correctly. Clients are responsible for all orders placed in their account. If a Client does not have complete understanding of the way the platforms operates, they should not trade before obtaining the required knowledge. Clients who are relatively new to electronic trading are urged to strictly limit both the number of trades they do and the size of their trades to reduce the risk of losses during the learning process. The trading platform uses “One Click” functionality, the meaning of it is immediate execution of the order submitted. Therefore, the Client will have no opportunity to review the order after clicking "buy", "sell", "up", "down". The order will be a market order without the ability to be cancelled or modified. You are strongly urged to try trading with a demo account before real trading. You agree to one click trading and accept the risk of this immediate execute feature. ## 6. Overnight positions & Swap charges Holding positions overnight on Financial Instruments, may result in considerable losses. Prices of the next day can be significantly different from the previous day's prices. Also, trading in Financial Instruments can unexpectedly be halted during trading hours for a variety of reasons and prices can vary dramatically at the re-opening of trading with no interim capabilities of trading during such time periods. Such price changes may significantly change the result of stop-loss orders and as a result such orders might not always be able to protect you and you are still having a significant risk of losing your entire invested capital. If a Client holds any positions overnight then an applicable swap charge will apply. The swap charges are clearly stated on the trading platform and are accepted by the Client during the account registration process as they are described in the Company's terms and conditions. The swap rate is mainly dependent on the level of interest rates as well as the Company's fee for having an open position overnight. The Company has the discretion to change the level of the swap rate on each Financial Instrument at any given time and the Client acknowledges that they can be informed about the current swap rates by checking these in the trading platform. The Client further acknowledges that they are responsible for reviewing the contracts specifications located on the trading platform for being updated on the level of swap value prior to placing any order with the Company. ## 7. Underlining Market Volatility Derivatives are instruments that allow the client to trade on price movements in underlying markets/instruments. Even though the Company offers its own prices (as obtained by its Liquidity Provider) at which the client trades, the Company’s prices are derived based on the underlying instruments/markets. It is important for the client to understand that the fluctuation of the underlying instrument will affect the client’s profitability. The client should also be aware of “gapping” where such events can result in a significant profit or loss on the client’s account. “Gapping” can occur when the underlying instrument/market is open and when it is closed. ## 8. IT Risks Trading Instruments that are derivatives of digital assets (such as Virtual Currencies) are exposed to native IT risks associated with digital assets. Those IT risks can be: hacks, bugs, exploits, misuse etc. All of these risks may result in a total loss of the value of the underlying and therefore also for the derivative Instrument. ## 9. Risk of Redemption in kind The Company custodies any digital asset in its own name and on its own behalf. If a client redeems a position in kind (to the extent possible), the underlying will be delivered to the self-custodial wallet as specified by the client outside the trading platform. Not every underlying may be compatible with every wallet. It is your responsibility to check compatibility before requesting any redemption in kind as well as the accuracy of any data provided to us. Wrong data, type-os etc. may result in a total loss of funds. We do not assume any responsibility for wrong data or incompatible wallets provided by the client. ## 10. Costs and Charges All relevant costs and charges will be provided by the Company.Clients should be aware of such costs and charges that may influence the account profitability of the client. Prior to the commencement of trading activities the Client should obtain details of all commissions and all related charges regarding which the Client will be liable. ## 11. Funding Rates Perpetuals contain an hourly funding rate, this means that you either have to pay the funding rate (which equals an ongoing cost component for you) or that you will be credited the funding rate. The funding rate is calculated by the following formula: position size \* time-weighted average price of ((future – index) / index) / 24. ## 12. Taxes The Client should take the risk that his trades in Instruments may be or become subject to tax and/or any other duty, for example, because of changes in the legislation or their personal circumstances. The Company does not warrant that no tax and/or any other stamp duty will be payable. The Client should be responsible for any taxes and/or any other before the Client begins to trade, he should obtain details of all commissions and other charges for which the Client will be liable. If any charges are not expressed in money terms but for example, as a dealing spread, the Client should obtain a clear written explanation, including appropriate examples, to establish what such charges are likely to mean in specific money terms. ## 13. Basic Investment Risks ### 13.1 Credit Risk Credit risk is the risk arising from the counterparty’s inability or unwillingness to meet its contractual obligations normally due to a default and it is highly connected to settlement risk. This may result in a loss of the principal amount, investment opportunity, and market gains. ### 13.2 Liquidity Risk Liquidity refers to the ability of market participants to buy or sell their Financial Instruments at a specific time. Risk of low or no liquidity can result in a loss of an investment opportunity to buy or sell instruments at competitive prices. ### 13.3 Volatility Risk Some Derivative Financial Instruments are traded within wide intraday ranges with volatile price movements. Therefore, the Client must carefully consider that there is a high risk of losses as well as profits. The price of Derivative Financial Instruments is derived from the price of the underlying asset in which the Derivative Financial Instruments refer to. Derivative Financial Instruments and related underlying assets can be highly volatile. The prices of Derivative Financial Instruments and the underlying asset may fluctuate rapidly and over wide ranges and may reflect unforeseeable events or changes in conditions, none of which can be controlled by the Client or the Company. Under certain market conditions it may be impossible for a Client’s order to be executed at declared prices leading to losses. The prices of Derivative Financial Instruments and the underlying asset will be influenced by, amongst other things, changing supply and demand relationships, governmental, agricultural, commercial and trade programs and policies, national and international political and economic events and the prevailing psychological characteristics of the relevant marketplace. ### 13.4 Market Risk Market risk is referred to investment losses due to adverse movement in the financial market prices. Interest rate risk, currency risk and instrument price risk are the main market risk types. Particularly: ### 13.4.1 Interest rate risk Changes in interest rates may cause contrary effects to the value of an investment. Interest rate Derivative Financial Instruments have values that are linked to the movements of interest rates. These may include interest rate future, options, swaps. ### 13.4.2 Currency risk Currency risk is a form of risk that arises from the change in the price of one currency against another. Whenever investors or companies hold assets or operate in different currencies, they face currency risk if their positions are not hedged. Currency risk arises also from Financial Instruments traded in currencies different than the investor’s reporting currency. ### 13.4.3 Price risk Financial Instruments prices may undergo sharp price fluctuations due to general market conditions such as changes in economic or political conditions or specific conditions related to the issuer. Price fluctuations, the frequency and duration of which can be unpredictable, may cause the risk of loss. ### 13.5 Political risk A number of factors such as national conflicts, racial and national tensions create political instability in a country. Any perceived, actual or expected disruptions or changes in government policies of a country, by elections or otherwise, can have a major impact on the value of instruments linked to those countries. Political risk can drag down investment returns or even restrict the potential to withdraw or transfer capital from an investment. A country under international attention or sanctions for its actions or practices against money laundering, terrorist financing or for its acts against ethnic, social, or economic matters may cause uncertainty in respect of the securities or assets of an issuer directly related to that country. Such securities may be subject to confiscation, blocking, or restrictions on any transactions. Political risk is higher when investing in Emerging Markets. ### 13.6 Inflation risk Inflation risk is the possibility that the value of an asset or income will decrease as inflation shrinks the purchasing power of a currency where the said income or asset are denominated. Inflation causes cash to decrease in value at some rate and does so irrespective of whether the cash is invested or not. Clients must therefore assess the real value of their assets in terms of the real return they would expect from an investment. #### Leverage Risk Before the Client opens a trade on Derivative Financial Instruments, they are required to maintain a margin. Margin is usually a relatively modest proportion of the overall contract value. This means that the client will be trading using "leverage" . The "leverage" is often obtainable when trading in Derivative Financial Instruments. This means a relatively small market movement can lead to a proportionately much larger movement in the value of the Client's position and this can work either against the Client or for the Client. The greater the leverage, the greater the risk At all times during which the Client opens trades, he must maintain enough equity, consider all running profits and losses, for meeting the margin requirements. If the prices move against the Client then the Client must deposit funds to avoid any margin calls otherwise the Company will be entitled to close one or more or all the Clients' trades regardless of whether the Client agrees with the Company's decision to close their positions. ### 13.7 Timing Risk If you do not have enough time to monitor your investment on a regular basis, you should not trade derivatives or in complex Derivative Financial Instruments. These products are not suitable for 'buy and hold' trading. They can require constant monitoring over a short period of time. Even maintaining your investment overnight exposes you to greater risk and additional costs. The volatility of the market together with the extra leverage on your investment can result in rapid changes to your overall investment position. Immediate action may be required to manage your risk exposure or to post additional margin. ### 13.8 General Risks Associated with Derivative Financial Instruments A Derivative is a Financial Instrument, the value of which is derived from an underlying asset’s value. Derivatives are used for hedging investment risks or for arbitrage purposes. The Client should carefully assess all risks from such transactions. All Derivatives are subject to the main risk types as described above, in particular Market risk, Credit risk, Volatility risk and any specific risks related with the underlying assets. Whilst Derivative Financial Instruments can be utilised for the management of investment risk, some investments are unsuitable for many investors. Different instruments involve different levels of exposure to risk, and in deciding whether to trade in such instruments the Client should be aware that Derivatives transactions involve risks, including but not limited to the following: * Market Risk: Market risk is the risk of loss arising from adverse changes in the value of a Derivative Financial Instrument as a result of movements in the underlying market rate. * Credit Risk: Credit risk is the risk that a counterparty may fail to meet its contractual payment obligations through insolvency or default. For Derivatives, the amount at risk is not the face value of the transaction but the positive fair value or replacement value of the transaction. * Liquidity Risk: Liquidity risk is the risk of losses attributable to a lack of liquidity (i.e., very few market participants) in a particular market. This is usually indicated by wide bid/offer spreads and very few transactions being done in a particular product or market. The risk is that changes in the underlying market price may be infrequent but very large, and that an open position in the market is not able to be effectively hedged. * Pricing Risk: For complex Derivative transactions, pricing is completed using various assumptions and mathematical models. Pricing risk is the risk that these models do not accurately reflect conditions * Operational Risk: Operational risk is a wide-ranging area of risk. It can cover risks such as, but not limited to, the following: * transactional details are not accurately input into the trading platform; * computer systems break down; * computer files are lost; * experienced staff leave the organisation; * documentation relating to a transaction is incorrect; and * relying on a third party for the performance of any operational functions which are critical for the provision of continuous and satisfactory service to clients. ## 14. Specific Products and their Related Risks ### 14.1 Perpetual Futures Perpetual Futures are a type of derivative financial instrument that allows traders to speculate on the price movement of an underlying asset without an expiry date. Receivables in connection with Perpetual Futures are settled in cash. Unlike traditional futures contracts, which have a set maturity date, perpetual futures remain open indefinitely, provided that required margin is maintained. These contracts typically use a funding mechanism, whereby periodic payments are exchanged between long and short position holders based on the difference between the perpetual contract price and the reference index price of the underlying asset. The reference price of the underlying asset is generally determined by the market price as reflected on major reference exchanges or aggregated from multiple liquidity providers, depending on the pricing methodology implemented. This price is influenced by several factors, including supply and demand dynamics, macroeconomic events, market sentiment, regulatory developments, and overall liquidity conditions. Additionally, external events such as geopolitical risks, technological advancements, and sudden market disruptions may cause significant price fluctuations. By entering into a perpetual futures contract, the investor acknowledges and agrees that they are engaging in a legally binding agreement with the counterparty, subject to the applicable terms and conditions. Due to the nature of perpetual futures, they are subject to high volatility, leverage, and liquidation risks. Investors should be aware that trading in perpetual futures may result in significant losses, including the loss of their entire invested capital. ## 15. Client Categorizations In order to comply with the Markets in Instruments Directive (MiFID) of the European Union, the Company must classify the prospective client as Retail Client, Professional Client or Eligible Counterparty when considering the application for opening an account, based on the information provided to the Company. ## 16. Loss of Funds Trading Is Considered Risky and Speculative. Clients are ultimately responsible for all of the losses suffered in their account. As a consequence, Clients should be prepared to lose all funds which they deposited. Clients are also responsible for losses that exceed their profits and deposits. Clients should never fund their trading activities with retirement savings, loans, mortgages, emergency funds, funds set aside for purposes such as education or home ownership, or funds required for current income or present or future medical expenses. ## 17. Competition and sophistication Trading requires in-depth knowledge of the financial markets, trading techniques and strategies. In attempting to profit from Trading, Traders compete with Professional traders, market-makers, etc. and therefore, a high level of investment and trading experience is necessary. No guarantees are offered or represented by the Company regarding the returns that can be expected from Trading. ## 18. One Click Order The meaning of it is immediate execution, you will have no opportunity to review the order after clicking “buy”, “sell”, “up”, “down” if chosen accordingly. You are strongly urged to try trading with a demo account before real trading. You agree to one click trading and accept the risk of this immediate execute feature. As default setting, you will have to confirm any order after review. ## 19. Recommendations Recommendations on the website or in our third-party partners or via email are not personal and are not investment advice. There is no guarantee for profit or for expected investment results due to those recommendations. The client is knowledgeable and accepts that he/she is using his own judgment for each transaction that he is making and not relying on any recommendation. ## 20. ONLINE TRADING RISKS Clients that use our services are trading via the internet. The Company is not responsible for any failure and not liable for any damage, cost or expenses caused directly or indirectly by malfunction and / or disruption and / or failure and / or transmission, computer and / or internet system and / or trading system. *** **Risk Warning:** Our products are traded on margin and carry a high level of risk and it is possible to lose all of your capital. You should consider whether you understand how Financial Instruments work and whether you can afford to take the high risk of losing money. Please read carefully this Risk Disclosure document, together with the Client Agreement (“Terms of Service”) and Privacy Policy available on our website in the Legal Documents list. **Disclaimer:** The content on our website does not constitute financial or investment advice. Be advised that past performance is not an indication of future performance. Any information provided by the Company either through a website or any other means, is of a general nature and does not take into consideration your personal circumstances, investment experience or financial situation. # Money Laundering Prevention Policy Trek Labs Europe Ltd. dba Backpack EU MONEY LAUNDERING PREVENTION POLICY *** ## 1. Introduction Backpack EU is a brand name owned and operated by Trek Labs Europe Ltd (hereinafter referred to as the “Company,” “Backpack EU,” “us,” or “we”), a company incorporated in Cyprus with registration number HE 335683 and authorised by the Cyprus Securities and Exchange Commission (“CySEC”) under license no. 273/15, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. Trek Labs Europe Ltd operates in accordance with all relevant EU and local laws, including the European Markets in Financial Instruments Directive II (MiFID II), the Cyprus Investment Services and Activities and Regulated Markets Law of 2017 (Law 87(I)/2017), and the Prevention and Suppression of Money Laundering and Terrorist Financing Laws of 2007 to 2024 as amended from time to time. ## 2. Purpose Trek Labs Europe Ltd in order to ensure timely and ongoing compliance with current Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations, has established and implemented appropriate policies and procedures. The main objective of this policy is to outline the Company’s internal policies, procedures, measures, practices and controls aimed to prevent money laundering and terrorist financing. These policies and procedures enable the Company to meet its obligations under various laws, regulations, and industry best practices by identifying and assessing potential money laundering and terrorist financing (ML/TF) risks associated with the provision of designated services and managing or mitigating those risks identified in accordance with the applicable legal and regulatory framework. ## 3. Legal & Regulatory Framework * For the purpose of this document the “applicable legal and regulatory framework” shall include the following: * The Prevention and Suppression of Money Laundering and Terrorism Financing Law 188(I)/2007, the “AML Law”, as subsequently amended; * Directive of CySECregarding the Prevention and Suppression of Money Laundering and Terrorist Financing , the “CySEC AML Directive”, as subsequently amended, * Directive (EU) 2018/843 (“AMLD V”) amending Directive (EU) 2015/849 (“AMLD IV”) of the European Parliament and the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, the ”EU AML Directive”. * Risk factor Guidelines issued by the Joint Committee of the European Supervisory Authorities under Articles 17 and 18(4) of Directive (EU) 2015/849 on anti-money laundering and countering the financing of terrorism is referred to as the ‘' Risk Factors Guidelines” * The Financial Action Task Force (FATF) recommendations Backpack EU is a brand name of Trek Labs Europe Ltd, a company regulated by the Cyprus Securities and Exchange Commission under license no. 273/15, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. 2 * CySEC’s applicable Directives, Circulars, Reporting Forms and other related documents * Any other legislative act of the European Parliament and Commission currently in force substituting/ amending the above mentioned. ## 4. Compliance with AML/ CFT legal and regulatory requirements Trek Labs Europe Ltd is dedicated to preventing money laundering activities in relation to the offering of our services and investment products, therefore, adhere to regulatory requirements by conducting as a minimum the following practices: * Ensure that our clients identification is verified before the establishment of any business relationship; * Identify, monitor and report any suspicious activity to the competent authorities on timely manner; * Keep records related to transactions for at least five years following the end of the business relationship with the clients; * Our staff is trained on an ongoing basis to recognise any suspicious activity and meet all relevant reporting obligations and requirements; * Ensure that any suspicious activity is reported to the relevant competent authorities where the client is located. \****It should be NOTED that clients are required to promptly inform the Company of any changes to their personal or financial circumstances, as all account activities are subject to ongoing monitoring in line with AML/CFT legal and regulatory obligations.*** ## 5. Notices & Disclaimers * Clients should be aware that all information submitted to the Company may be accessible to the appropriate regulatory and supervisory authorities in:\ (a) the country of incorporation of the Company, which is the Republic of Cyprus;\ (b) the country of origin of any funds transferred to the Company; and\ (c) the destination country for any funds refunded by or withdrawn from the Company. * Trek Labs Europe Ltd reserves the right to decline processing a fund transfer at any point if it suspects any connection to criminal activities or activities concerning money laundering, bribery, corruption and financial crime. * Trek Labs Europe Ltd reserves the right to terminate the Clients Agreement with immediate effect and/ or to refuse to execute any pending orders and/ or to freeze or block your trading account and any assets thereon if we reasonably believe that you may be acting in breach of applicable AML Laws. We may, where we consider this Backpack EU is a brand name of Trek Labs Europe Ltd, a company regulated by the Cyprus Securities and Exchange Commission under license no. 273/15, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. 3 necessary in order to comply with our obligations under the applicable AML Laws, refuse to provide you with further explanations as to any action or refusal or failure to take any action. * Trek Labs Europe Ltd reserves the right to review and amend its Money Laundering Prevention Policy, when necessary or appropriate. * The Money Laundering Prevention Policy is a standalone policy and forms part of our Terms and Conditions of Business. It is not intended to be contractually binding and does not impose any obligations on us that we would not otherwise have. ## 6. Contact Us For any inquiries related to our Money Laundering Prevention Policy, please contact our Compliance Department at . *** **Risk warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all of your capital. Please consider our** [**Risk Disclosure**](broken://pages/zocmYdja4LPbWq71klPZ)**.** **Legal**: This website is operated by Trek Labs Europe Ltd, registration number HE335683, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. Trek Labs Europe Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 273/15. The company operates through [https://eu.backpack.exchange](https://eu.backpack.exchange/) and uses the trade name Backpack EU. # Investor Compensation Fund Notice Trek Labs Europe Ltd. dba Backpack EU INVESTOR COMPENSATION FUND NOTICE *** ## 1. Purpose of the Investor Compensation Fund (ICF) Pursuant to section 15 of the Investment Services and Activities and Regulated Markets Law of 2017 (the “Law”), Trek Lab Europe Ltd (referred to as the “Company”) is a member of the Investor Compensation Fund (the “ICF”). The purpose of the ICF is to secure the claims of Covered Clients (as defined in the applicable legislation) against the Company, in case the Company is unable to meet any of its obligations that arise as a result of a Covered Client’s claim regarding the provision of investment or ancillary service(s) and the Company’s financial position is unlikely to change in the foreseeable future, provided that the criteria set out in the applicable legislation have been fulfilled. The provisions of the present Policy in relation to the operation of the ICF are in accordance with the provisions of Directive DI87-07 of 2019 and Directive DI87-07(A) of 2022 of “CySEC for the operation of the Investors Compensation Fund” (the “ICF Directive”). The ICF pays compensation to Covered Clients for a successful claim brought in relation to a covered service provided by the Company given that the Company’s failure to fulfil its obligations is established. Failure by the Company to fulfil its obligations to a Covered Client consists of the following: * (a) either failure to return funds owed to a Covered Client or funds which belong to a Covered Client but are held by the Company, on the Covered Client’s behalf, in relation to investment services; or * (b) failure to hand over to a Covered Client financial instruments that belong to a Covered Client and which the Company holds, manages, or administers on the Covered Client’s behalf, in relation to investment services. ## 2. Covered Clients The ICF covers only Retail Clients of the Company. It does not cover Professional Clients nor Eligible Counterparties. ## 3. Non-covered Clients Subject to the provisions of CySEC Directive DI 87-07, the ICF shall not compensate the following investor categories: * (a) The following categories of institutional and professional investors: * (i) IFs; * (ii) legal entities associated with the Company and generally belonging to the same group of companies; * (iii) banks; * (iv) cooperative credit institutions; * (v) insurance companies; * (vi) collective investment undertakings in transferable securities and their management companies; * (vii) social insurance institutions and funds; * (viii) investors characterized by the member as professionals upon their request, pursuant to the provisions of paragraph Β of the Second Schedule of the Law. * (b) Supranational institutions, government and central administrative authorities. * (c) Provincial, regional, local and municipal authorities. * (d) Enterprises that have close ties with the Company as the term «close ties» is construed in Article 2(1) of the Law. * (e) Managerial and administrative staff of the Company. * (f) Shareholders of the Company whose participation directly or indirectly in the capital of the Company amounts to at least 5% of its share capital, or its partners who are personally liable for the obligations of the Company as well as persons responsible for the carrying out of the financial audit of the Company as provided by the Law, such as its qualified auditors. * (g) Investors having investments in enterprises connected with the Company and, in general, with the group of companies to which the Company belongs, positions or duties corresponding to those listed in sub-paragraphs (e) and (f). * (h) Up to second-degree relatives and spouses of the persons listed in sub-paragraphs (e), (f) and (g), as well as third parties acting for the account of such persons. * (i) Investors-clients of the Company responsible for facts pertaining to the Company that have caused its financial difficulties or have contributed to the worsening of its financial situation or have profited from these facts. * (j) Other firms in the same group. * (k) Investors in the form of a company, which due to its size, are not allowed to draw a summary balance sheet in accordance with the Companies Law or a corresponding law of a Member State. In the cases of sub-paragraphs (e), (f), (g), (h), and (j) the ICF shall suspend the payment of compensation informing the interested parties accordingly until it reaches a final decision as to whether such cases apply. ## 4. Covered Services ICF shall compensate any Covered Client of the Company in respect of a claim arising out of a covered service, meaning any investment or ancillary service(s) provided at the time by the Company and presented on the CySEC’s website and presented on:
The ICF covers claims due to the Company’s failure: * to repay the funds owed to covered clients or belonging to them and held on their behalf in connection with investment operations; or * to return to covered clients any financial instruments belonging to them and held, managed or administered on their behalf in connection with investment operations; in accordance with the legal and contractual conditions applicable. It should be noted that the ICF shall pay no compensation to an individual who has been convicted of a criminal offence related to the Prevention and Suppression of Money Laundering Activities Law. ## 5. Procedure The ICF shall initiate the compensation payment procedure when: * (a) the Cyprus Securities and Exchange Commission (hereinafter “the CySEC”) has determined that a member of the ICF appears, for the time being, for reasons directly related to its financial circumstances, to be unable to meet its obligations arising out of investors' claims and has no early prospect of being able to do so. * (b) a Court of the Republic, has made a ruling, for reasons directly related to a member's financial circumstances, which has the effect of suspending investors' ability to make claims against it. CySEC shall issue its decision for the initiation of the compensation payment procedure by the ICF within a reasonable time, and publish the relevant information on its website. Upon initiation of the compensation payment procedure, the ICF shall publish as soon as possible in at least two national newspapers, an invitation to submit applications for compensation, designating the procedure for the submission of the relevant applications, the deadline for their submission as well as their content as defined specifically in this paragraph The publication provided above shall include at least: * (a) the name and address of the headquarters and the trade name of the involved ICF member; * (b) the deadline for the submission of the compensation applications, which cannot be less than five months or more than nine months from the date of initiation of the compensation payment procedure, or from the date of its publication; * (c) the mode of submission of applications; * (d) the address and/or website through which Covered Clients may obtain the relevant claim form provided by the ICF, as provided for in Paragraph 22 of the CySEC Directive DI 87-07. The said publication shall be communicated immediately to CySEC, which shall post the publication on its website. The ICF shall issue a claim form setting out the information and supporting evidence required in order to evaluate the claims of covered investors. Without prejudice to this, the ICF may request additional information where deemed necessary. A claim must be submitted by completing the claim form issued by the Fund. The ICF may record and assess the submitted claims, either internally or by designating at least one expert in capital market issues and at least one lawyer with knowledge on capital market issues, who after initially reviewing the “compensation payment conditions” as described below, shall evaluate the said applications and recommend to the Administrative Committee their acceptance or rejection, in whole or in part. The Administrative Committee shall examine the applications before it and decide whether the compensation payment conditions are fulfilled or not. The Administrative Committee shall reject the application if the claimant has used false or misleading means in order to secure the payment of the compensation. Upon completion of the procedure before the Administrative Committee, the ICF shall: * (a) issue a decision listing the clients of the ICF member, determining the amount of money each one of them is entitled to receive, and communicate it to CySEC and the ICF member within five working days from its issue. The said decision shall also list those clients to whom no compensation shall be paid, and the reasons for this. * (b) communicate to each affected client its decision the soonest possible from its issue. The claimant to whom the ICF communicates its decision, may, in case of disagreement, submit an objection in writing to CySEC, within one month from the date on which the decision was notified, justifying its objection sufficiently. The objection shall be submitted at and entitled “Objection to the decision of the ICF”. CySEC shall conclude the examination of the objection within forty-five (45) days and in case that it identifies an error/mistake in the evaluation made by the ICF, CySEC shall require the Fund to rectify the mistake and pay to the claimant the correct amount of compensation. ## 6. Compensation Payment Conditions The payment of compensation by the ICF shall entail the following: * (a) the initiation of the compensation payment procedure; * (b) the existence of a valid claim by a Covered Client against the ICF member, which derives from an investment operation; * (c) the submission of an application form as prescribed in the CySEC Directive DI 87-07; * (d) that the claims do not arise from transactions for which there has been a criminal conviction for money laundering as defined in the Prevention and Suppression of Money Laundering Activities Law of 2007 * (e) there are no pending criminal proceedings against the said Covered Client for money laundering as defined in the Prevention and Suppression of Money Laundering Activities Law of 2007,; * (f) the right of a covered client has not been extinguished under the Limitation of Offences Act. Upon submission of a compensation application, the Administrative Committee examines whether the conditions of points (a) - (f) above are fulfilled. As also stated above, the Administrative Committee rejects the compensation application in case the claimant-client used false or misleading means in order to secure the payment of the compensation by the Fund. ## 7. Amount of Compensation * (a) The amount of the claim of a Covered Client shall be calculated based on legal and contractual conditions and terms governing the relation of the covered client with the members of the Fund, in particular those relating to offsetting and counterclaims, that are applicable to the assessment on the date of the initiation of the compensation payment procedure, of the amount of the funds or value determined with reference to the market value, where possible, of the financial instruments belonging to the Covered Client and which such funds or instruments, the ICF member fails to repay or return, respectively. * (b) The calculation of the compensation payable shall arise from the sum of the total established claims of the Covered Client against the ICF member, arising from all covered services provided by the member and regardless of the number of accounts
* (c) The ICF shall provide coverage for the claims referred to in Paragraph 19 of the CySEC Directive DI 87-07, which applies for the total claims of the Covered Client against a ICF member and shall be defined as the lower of 90% of the cumulative covered claims of the Covered Client and €20.000. * (d) In the case of joint investment business: * (i) in the calculation of the coverage provided for in subparagraph (b), the share attributable to each covered investor shall be taken into account; * (ii) the claims shall be allocated equally amongst covered investors, unless there exist special provisions, and without prejudice to point * (iii), each investor is provided with separate coverage pursuant to the provisions of subparagraph (b);\ claims relating to joint investment business to which two or more persons are entitled as members of a business partnership, association or grouping of a similar nature, which has no legal personality, shall, for the purpose of calculating the coverage provided for in subparagraph (a), be aggregated and treated as if arising from an investment made by a single investor. * (e) Where a covered client is not the ultimate beneficiary of the funds or financial instruments held by the member: * (i) compensation shall be paid to the ultimate beneficiary if his identity is or may be established prior to the date of the determination or ruling referred to in paragraph 18(1) of the CySEC Directive DI 87-07. * (ii) if the ultimate beneficiaries are more than one, in the calculation of the coverage provided for, the share attributable to each one of them according to the arrangements regulating the management of the funds or financial instruments shall be taken into account.\ \ This section shall not apply to undertakings for collective investments. * (f) Compensation shall be paid in Euro, and, where the funds and/or financial instruments are expressed in a currency other than the Euro, the exchange reference rate of the said currency against the Euro fixed by the European Central Bank at the end of the day on which the compensation payment procedure was activated, shall be used. *** **Risk warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all of your capital. Please consider our** [**Risk Disclosure**](broken://pages/zocmYdja4LPbWq71klPZ)**.** **Legal**: This website is operated by Trek Labs Europe Ltd (formerly FTX EU Ltd), registration number HE335683, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. Trek Labs Europe Ltd (formerly FTX EU Ltd) is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 273/15. The company operates through [https://eu.backpack.exchange](https://eu.backpack.exchange/) (formerly and [https://ftxeurope.eu](https://ftxeurope.eu/)) and uses the trade name Backpack EU (formerly FTX EU). # Conflicts of Interest Policy Trek Labs Europe Ltd. dba Backpack EU CONFLICTS OF INTEREST POLICY *** ## 1. Introduction and Scope 2 Backpack EU is a brand name owned and operated by Trek Labs Europe Ltd (hereinafter referred to as the “Company,” “Backpack EU,” “us,” or “we”), a company incorporated in Cyprus with registration number HE 335683 and authorised by the Cyprus Securities and Exchange Commission (“CySEC”) under license no. 273/15, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. This Conflicts of Interest Policy (the “Policy”) contains information on how the Company identifies, manages and where possible, mitigates, or where applicable, discloses any conflicts of interest which may arise during the course of the business relationship between the Company and its Clients.. The Company is committed to act honestly, fairly and professionally, and in the best interests of its Clients, and to abide by the principles set out in the applicable legislation. This Policy is not intended to, and does not create third-party rights or duties that would not already exist if the Policy had not been made available. ## 2. Regulatory Framework This Conflicts of Interest Policy is issued pursuant to, and in compliance with the requirements of: * Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments, as amended from time to time (‘’MiFID II ’); * The Law 87(I)/2017 regarding the provision of financial services, the exercise of investment activities and the operation of regulated markets and other related matters, as amended from time to time (the ‘’Law’); * The Commission Delegated Regulation (EU) 2017/565, supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organizational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive; * Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (“Market Abuse Regulation”); In accordance with the Commission Delegated Regulation (EU) 2017/565, Investment Firms are required to establish, implement and maintain an effective conflicts of interest policy set out in writing and appropriate to the size and organisation of the Investment Firm and the nature, scale and complexity of its business. In addition, according to the Law, Investment Firms must take all appropriate steps to identify conflicts of interest between * itself, including its managers and employees, tied agents or other relevant persons, as well as any person directly or indirectly linked to them by control, Backpack EU is a brand name of Trek Labs Europe Ltd, a company regulated by the Cyprus Securities and Exchange Commission under license no. 273/15, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. * their Clients or * between one client and another, that arise in the course of providing any investment and ancillary services, including those caused by the receipt of inducements from third parties or by the Company’s own remuneration and other incentive structures. In this respect, Investment Firms must establish adequate policies and procedures sufficient to ensure compliance, including its managers, employees, tied agents and other relevant person(s), with its obligations pursuant to the Law and the directives issued pursuant to this Law, as well as appropriate rules governing personal transactions by such persons. The conflicts of interest policy established in accordance with the above legal acts shall include the following content: * it must identify, with reference to the specific investment services and activities and ancillary services carried out by or on behalf of the investment firm, the circumstances which constitute or may give rise to a conflict of interest entailing a material risk of damage to the interests of one or more Clients; * It must specify procedures to be followed and measures, including controlled access and permissions within our systems, granted to authorized personnel as necessary and subject to management approval, in order to manage such conflicts. This procedure is aimed to: * prevent or control the exchange of information between relevant persons engaged in activities involving a risk of a conflict of interest where the exchange of that information may harm the interests of one or more Clients; * ensure the separate supervision of relevant persons whose principal functions involve carrying out activities on behalf of, or providing services to, Clients whose interests may conflict, or who otherwise represent different interests that may conflict, including those of the Company; * remove of any direct link between the remuneration of relevant persons principally engaged in one activity and the remuneration of, or revenues generated by, different relevant persons principally engaged in another activity, where a conflict of interest may arise in relation to those activities; * ensure measures to prevent or limit any person from exercising inappropriate influence over the way in which a relevant person carries out investment or ancillary services or activities; * ensure measures to prevent or control the simultaneous or sequential involvement of a relevant person in separate investment or ancillary services or activities where such involvement may impair the proper management of conflicts of interest. The process entails the following actions: * Identification of conflicts of interest situations * Prevention and management of conflicts of Interest situations * Disclosure of conflicts of interest in cases such situations cannot be contained. * Keeping and updating records of identified conflict situations Definitions: 'Relevant person' in relation to the Company means any of the following persons: * Member of the board of directors, partner or equivalent, manager or tied agent of the Company; * A member of the board of directors, partner or equivalent, or manager of any tied agent of the Company; * An employee of the Company or of a tied agent of the Company, as well as any other natural person whose services are placed at the disposal and under the control of the Company or a tied agent of the Company who is involved in the provision by the Company of investment services or/ and the performance of investment activities; * A natural person who is directly involved in the provision of services to the Company or to its tied agent under an outsourcing arrangement for the purpose of the provision by the Company of investment services or/and the performance of investment activities. ## 3. Identification of Conflicts of Interest Situations A conflict of interest is a situation, arising in any area of the Company’s business, where the Company or an employee of the Company is in a position to exploit a professional or official capacity in some way which may benefit the Company, or an employee of the Company, or a client of the Company, whilst potentially damaging the interest of another client of the Company. \ The affected parties where conflicts of interest arise can be between the Company, its employees or its clients. More specifically, a conflict of interest may arise, between the following parties: * Between the Client and the Company (or other companies within the same group., the employees and directors); * Between two Clients of the Company; * Between the Company and its employees; * Between a Client of the Company and an employee/manager of the Company. The Company offers a variety of investment and ancillary services and is a member of a group of companies (“the Backpack Group”) which includes offering of services outside of the European Union. Generally, it is not feasible to define precisely or create an exhaustive list of all the revenant conflicts of interest that may arise, as per the current nature, scale and complexity of the Company’s business. However, the following list includes circumstances identified by the Company which constitute or may give rise to a conflict of interest entailing a material risk of damage to the interests of one or more Clients, as a result of providing investment or ancillary services: * Conflicts in dealing in any capacity; * Conflicts associated with holding confidential information; * Conflicts associated with misuse of inside information; * Conflicts arising out of the charges of fees and commissions; * Conflicts in the Company’s business relations with the issuers of financial instruments or non-financial instruments; * Conflicts arising out of the group structure; ● Conflicts arising in relation to inducements; * Conflicts associated with performance-related remuneration of employees; * Conflicts arising from personal transactions of employees For the purposes of identifying the types of conflicts of interest that arise in the course of providing investment services or a combination thereof and whose existence may damage the interests of a client, the Company takes into account, by way of minimum criteria, the question of whether the Company itself or a relevant person, or a person directly or indirectly linked by control to the Company is in any of the following situations, whether as a result of providing investment or ancillary services or investment activities or otherwise: * The Company or that person is likely to make a financial gain, or avoid a financial loss, at the expense of the client; * The Company or that person is interested in the outcome of a service provided to the client or of a transaction carried out on behalf of the client, which is distinct from the client's interests; * The Company or that person has a financial or other incentive to favour the interest of another client or group of clients over the interests of the client; * The Company or that person carries on the same business as the client; * The Company or that person receives or will receive from a person other than the client an inducement in relation to a service provided to the client, in the form of money, goods or services, other than the standard commission or fee for that service; * The Company or that person has a relation with the issuers of the products, e.g. close family relation; * The Company or that person keeps investor accounts in other investment firms without the prior authorization from the Company; * The Company or that person hides information from investors which they have right or access to; * The Company or that person uses inside information or non-public proprietary information for own purposes; * Use inside information or non-public proprietary information to manipulate or take advantage of such information; * The Company or that person discloses inside information to other Company personnel who are not authorized to it. In addition, the Company’s employees are prohibited from misusing “inside” information. Indicative cases of conflict of interests are listed below: * Entering into unnecessary and unprofitable transactions for the client so as to increase the amount of commission and other fees * This can happen in auto-liquidation situations. The Company will mitigate this risk by only liquidating sufficient funds in order to reach the maintenance margin. Positions will not automatically be liquidated fully unless necessary. * Using confidential information provided by the client for the Company’s own benefits or benefits of its employees or third parties. The following procedure sets out actions for avoidance and resolution of conflicts of interest situations by the Company. The procedure is communicated to all members of the Company and includes measures specifically required by CySEC and the Company. ## 4. Reporting Conflicts of Interest In the case of identification of a possible conflict of interest, a staff member must refer it initially to their immediate supervisor to assist in the assessment of a risk of damage and send to the Company’s Head of Compliance a completed Conflict of Interest Notification Form together with full details (i.e. under what grounds he/ she believes the conflict of interest arises) to allow regulatory scrutiny, of: * Corrective and preventing actions; * How these actions were considered appropriate; * Any conditions imposed; and * Whether there are still ongoing conflicts, how these are being managed and advised to the client. Based on the above it is the Management role to adopt a holistic view to ensure the identification of potential and emerging conflicts within and across business lines and support an independent review of the processes and procedures in place. ## 5. Managing Conflicts of Interest In general, the procedures and controls that the Company follows to manage any identified conflicts include the following, but not limited to, measures (non-exhaustive list of measures): ### 5.1 Disclosure The employees of the Company are obliged to disclose all business interests before commencing their employment with the Company and are under an obligation to update the Company of any changes to such business interests throughout their employment with the Company. ### 5.2 Independence The following measures have been adopted by the Company for ensuring the requisite degree of independence: * Measures to prevent or control the exchange of information between relevant persons engaged in activities involving a risk of a conflict of interest (i.e. by establishing a Chinese Wall). * Separate supervision of relevant persons whose principal functions involve carrying out activities on behalf of, or providing services to, Clients whose interests may conflict, or who otherwise represent different interests that may conflict, including those of the Company. The Company’s department whose interests may conflict with Clients is the Market Surveillance Department and/ or the Marketing Department. * Removal of any direct link between the remuneration of relevant persons principally engaged with one activity and the remuneration of, or revenues generated by, different relevant persons principally engaged in another activity, where a conflict of interest may arise in relation to those activities: * When the Company’s Management decides to reward employees with a variable remuneration, the Company checks and ensures that (1) the annual variable remuneration of any employee cannot exceed his/her annual fixed remuneration; (2) that the variable remuneration package does not lead to aggressive behaviour that might be for the detriment of Clients. * The Compliance Officer is required to approve all variable remuneration schemes, and the Company is required to disclose or make readily available these schemes to all Clients as a measure of last resort where the effective organisational and administrative arrangements established by the Company to prevent or manage its conflicts of interest are not sufficient to ensure, with reasonable confidence, that risks of damage to the interests of the client will be prevented. ● Measures to prevent or limit any person from exercising inappropriate influence over the way in which a relevant person carries out and/or promotes investment or ancillary services or activities. Additionally, the person who decides or influences an individual’s bonus may exert undue influence over that individual’s integrity of judgement. ● Measures to prevent or control the simultaneous or sequential involvement of a relevant person in separate investment or ancillary services or activities such as reception and transmission of Clients’ orders and tasks such as portfolio decision making and calculating performance, where such involvement may impair the proper management of conflicts of interest. ### 5.3 Chinese Wall Chinese walls are information barriers which are used to prevent inside or highly confidential information possessed by one part of the business from being inappropriately passed to, or obtained by, another part of the business. When a Chinese wall is used as a way of managing conflicts of interests, individuals on the other side of the wall will not be regarded as being in possession of knowledge denied to them as a result of the Chinese wall. For example, where arrangements have been put in place to ensure that entities belonging to the same group operate independently of each other with effective Chinese walls, the entities shall not be deemed to have knowledge of each other for conflicts of interest purposes. The Company has taken appropriate measures to restrict the flow of information and data between the various business units within the Company. First and foremost, the Management bestowed upon the Compliance Department enough executive authority to establish and safeguard its independence from all other Departments within the Company. The Compliance Officer has unrestricted access to all information and to all Departments and reports directly to the Board of Directors and Four Eyes Committee (if applicable). The Company ensures that the provision/ receipt of inducements by the Company or relevant persons comply with the applicable inducements’ rules/ restrictions. The Company has implemented Chinese walls around the following business areas: * the Company and any group entity, * Internal Audit Function, Risk Management Function and Compliance Function. The Company has taken appropriate measures to restrict the flow of information between certain Departments / Functions within the Company. As a first step, the Management authorized the Compliance Department to establish and safeguard its independence from all other Departments / Functions within the Company. The Head of Compliance has unrestricted access to all information and to all Departments and reports directly to the Board of Directors and Four Eyes Committee (if applicable). The same applies to the Internal Auditor Function. \ Persons and entities located within a Chinese wall are prohibited from inappropriately passing information to those outside the wall, except with the approval of the Company’s Head of Compliance where it is appropriate to the service being provided to the clients. More specifically, no person shall replace another person in his/ her duties without the prior consent and approval of the Compliance Officer in accordance with the Company’s Replacement Policy. Such a consent will be given by the Compliance Officer after all issues of possible conflict of interest have been reviewed. The Company ensures that the provision/ receipt of inducements by the Company or relevant persons comply with the applicable inducements' rules/ restrictions. In addition, the Company ensures that physical separation and relevant protocols (electronic means) are established such as - access rights in the trading platforms, restricted access to certain databases, electronic controls, practices and communication protocols - to prevent and control the simultaneous or sequential involvement of a relevant person in separate investment or ancillary services or activities where such involvement may impair the proper management of conflicts of interest, for the following business units: * Compliance Department * Back Office Function * Accounting Department * Brokerage Department * Trading and own account * Marketing Function All control functions (i.e. the Compliance Officer, Risk Manager, Internal Auditor, External Auditor) are reporting directly to the Board of Directors and Four Eyes Committee and are strictly prohibited from making their annual and/ or other reports available to any employee, from any Department, prior to communicating the reports to the Board and Four Eyes Committee (if applicable) and obtaining their consent. Additionally, the Company has in place non-disclosure and confidentiality agreements with all its Service Providers in relation to Clients’ personal data and information. Specifically, the dissemination of confidential information between the Company, its related parties and Services Providers is at all times subject to established information barriers. ## 6. Personal Transaction of Employees All employees of the Company that are involved in activities that the Company is authorised to provide must be aware of the restrictions on personal transactions detailed below. This section also includes personal transactions which may be performed by persons who are employed by companies which perform an outsourced activity to the Company, if any. If any personal transactions are entered into by a relevant person as indicated above, the Company must be notified promptly. For the purpose of this section, a personal transaction shall be a trade in a financial instrument effected by or on behalf of a relevant person, where at least one of the following criteria are met: * the relevant person is acting outside the scope of the activities they carry out in their professional capacity; * the trade is carried out for the account of any of the following persons: * The relevant person; * Any person with whom they have a family relationship, or with whom they have close links; * A person in respect of whom the relevant person has a direct or indirect material interest in the outcome of the trade, other than obtaining a fee or commission for the execution of the trade. Employees of the Company that are involved in the provision of investment services or other activities must not enter into the personal transactions which will cause the following: * Enter into a transaction prohibited under the provisions of the Market Abuse Regulation, * Misuse or cause improper disclosure of confidential information, * Enter in a transaction that is likely to conflict with any obligations of the Company, or the employee, that are stated under the Law. Where the employee has come into contact with information which is not publicly available to Clients or cannot readily be inferred from information that is so available, the employees must not act or undertake personal transactions or trade in the execution of an unsolicited client order, on behalf of any other person, including the Company. The employees must not disclose any opinion other than in the normal course of business, if the person who is given the opinion is likely to enter into a transaction which is contrary to the above. The employee also should not provide advice or provide to anyone any information, other than in the proper course of their employment, especially if it is clear that the person who is receiving such information will advise another party who might acquire or dispose of financial instruments to which that information relates. Any client’s orders that have been relayed to any employees of the Company must not be disclosed to another party. An employee of the Company who has knowledge of a potential client’s order must not carry out a personal transaction that is the same as the client order, if this will cause a conflict of interest. The Company shall keep records of the personal transactions notified to or identified by the Company, including any authorization or prohibition in connection with such transaction. ### 6.1 Disclosure of conflict of interest When the measures taken by the Company to manage conflicts of interest are not sufficient to ensure, with reasonable confidence that risks of damage to Clients’ interest will be prevented, the Company proceeds with the disclosure of conflicts of interest to the client. Prior to carrying out a transaction or providing an investment or an ancillary service to a client, the Company must disclose any actual or potential conflict of interest to the client. The disclosure will be made in sufficient time and in a durable means and shall include sufficient detail, considering the nature of the client, to enable him to take an informed decision with respect to the investment or ancillary service in the context of which the conflict of interest arises. Clients will be given the opportunity to decide on whether or not to continue their relationship with us with no unreasonable obstacles. The Company shall ensure that disclosure to clients pursuant to this section is a measure of last resort that shall be used only where the effective arrangements established by the Company to prevent or manage its conflicts of interest are not sufficient to ensure, with reasonable confidence, that risks of damage to the interests of the client will be prevented. The disclosure should: * clearly state that the organizational and administrative arrangements established by the Company to prevent or manage that conflict are not sufficient to ensure, with reasonable confidence, that the risks of damage to the interests of the client will be prevented; * include specific description of the conflicts of interest that arise in the provision of investment and/or ancillary services, considering the nature of the client to whom the disclosure is being made. The description shall explain in sufficient detail to enable that client to take an informed decision with respect to the investment or ancillary service in the context of which the conflicts of interest arise: * the general nature and sources of conflicts of interest; * the risks to the client that arise as a result of the conflicts of interest; and * the steps undertaken to mitigate these risks. In the event that the Company is unable to deal with a conflict of interest situation it shall revert to the client and in the cases where the line management cannot resolve a conflict to the satisfaction of all parties, the Head of Compliance, shall have the final say for the decision. ### 6.2 Record Keeping The Company’s Head of Compliance keeps and regularly updates a record of the kinds of investment and ancillary service or investment activity carried out by or on behalf of the Company in which a conflict of interest entailing a risk of damage to the interests of one or more Clients has arisen or, in the case of an ongoing service or activity, may arise. The following documentation shall be maintained for a minimum period of five (5) years: ● This Policy, any functional variations if applicable; * The internal Conflicts Log and the Conflicts Identification and Management Report; * Rules, procedures and processes; * Training material and training records; * Conflicts of Interest Notification Forms; * Details of any review work carried out (including any decisions made on conflicts management); and * Any other documentation used to demonstrate the management of conflicts of interest. Senior management shall receive on a frequent basis, and at least annually, written reports on situations referred to in this section. ### 6.3 Responsibilities The Company’s Executive Directors are responsible for clearly allocating responsibility and delegating authority to accountable individuals to ensure that those involved are aware of their involvement and that the Conflict Officer has a sufficient level of authority and independence in order to carry out their responsibilities effectively. The Company’s Senior Management is required to: * fully engage in the implementation of policies, procedures and arrangements for the identification, management and ongoing monitoring of conflicts of interest; * adopt a holistic view to ensure the identification of potential and emerging conflicts within and across business lines; * raise awareness and ensure compliance of relevant individuals by ensuring: regular training (including to contractors and third-party service providers’ staff) both at induction and in the form of refresher training; the clear communication of policies, procedures and expectations; that awareness of conflicts procedures forms part of the performance review/ appraisal process, and that the best practice is shared throughout the Company; * sponsor robust systems and controls and effective regular reviews to ensure that strategies and controls used to manage and mitigate risks remain appropriate and effective and that appropriate warnings and disclosures are issued to clients where necessary; * utilize management information to remain sufficiently up-to-date and informed; and * support an independent review of the processes and procedures in place. Individuals are required to identify new conflicts of interest arising out of the activities/services that they perform and engage in the process to notify line management upon identifying any potential conflict. The Company’s Head of Compliance who is responsible for the day to day management of the implementation of this policy. In particular, he, or his delegate, is responsible for: * establishing the policy in relation to conflicts of interest; ● providing training oversight and aid; * monitoring compliance with arrangements; * the oversight of conflicts management; ● maintaining records in relation to conflicts of interest; * whether a conflict of interest should be disclosed in line with the principles of this policy; * reviewing and challenging the identification of conflicts and implementing any management actions; and * providing appropriate internal reporting to the Board of Directors. Overall, the Compliance Officer will monitor the application and effectiveness of the present Policy on a regular basis and may amend the current Policy at any time if it is deemed appropriate and necessary. The review will be carried out at least annually and the Company’s Senior Management shall take all appropriate measures to address any deficiencies which might be identified by the Compliance Officer. ## 7. Clients’ Consent During the procedure of the Company entering into an agreement with the clients, for the provision of Investment and/or ancillary services, requests the clients’ consent to the application of the present Policy. Following the clients’ consent, the Company is authorized and able to deal with the clients in any manner the Company considers appropriate, notwithstanding any conflicts of interest or the existence of any material interest within transactions, without prior reference to the clients. ## 8. Review of the Policy The Company reserves the right to amend the current Policy at its discretion and at any time it considers is suitable and appropriate. *** **Risk warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all of your capital. Please consider our** [**Risk Disclosure**](broken://pages/zocmYdja4LPbWq71klPZ)**.** **Legal**: This website is operated by Trek Labs Europe Ltd, registration number HE335683, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. Trek Labs Europe Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 273/15. The company operates through [https://eu.backpack.exchange](https://eu.backpack.exchange/) and uses the trade name Backpack EU. # Complaints Handling Policy Trek Labs Europe Ltd. dba Backpack EU COMPLAINTS HANDLING POLICY *** ## 1. Introduction \ Backpack EU is a brand name owned and operated by Trek Labs Europe Ltd (hereinafter referred to as the “Company,” “Backpack EU,” “us,” or “we”), a company incorporated in Cyprus with registration number HE 335683 and authorised by the Cyprus Securities and Exchange Commission (“CySEC”) under license no. 273/15, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. This Policy and procedures detail how Trek Lab Europe Ltd (the “Company”) will deal with complaints when carrying out its business. The Company is authorised by the Cyprus Securities and Exchange Commission (“CySEC”) as a Cyprus Investment Firm (CIF) and, as such, will act in accordance with the applicable framework relating to complaints handling from time to time. ## 2. General Framework The Policy has been prepared in accordance with the following laws, regulations, directives and guidelines (the “Regulatory Framework”): * Law 87(I)2017 regarding the provision of Investment Services, the exercise of investment activities and the operation of regulated markets (the “Law”); * Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms; * CySEC Circular C338 - Guidelines on complaints-handling for the securities sector - Handling of client’s complaints by CIFs ## 3. General Scope of the complaints handling Procedure The Company acting as a Cyprus Investment Firm and in accordance with the relevant provisions of the Law is required to have in place and disclose to its clients a Complaints Handling Procedure which is described in this document. \ The Complaints Handling Procedure ('the Procedure') describes a fair and quick process of dealing and handling client's complaints that may arise from our relationship with clients. The purpose of the Procedure is to set out the internal complaint resolution mechanism which the Company has established, maintains and follows towards the resolution of complaints. ## 4. General Definition of an inquiry and complaint \ If you are disappointed with the Company’s services, or you have any inquiries regarding your account or trading activity with us, you may contact our Customer Support Department via live chat, email or telephone. The Company’s Customer Support Department shall determine if your inquiry can be resolved immediately or if it will require further investigation. In case your inquiry requires further investigation, we remain committed in addressing it and/or providing an outcome without undue delay. If you are dissatisfied with the outcome of the inquiry, then you may raise this further with the Compliance Department following the process indicated in the following section. An official complaint is an expression of dissatisfaction by a client regarding the provision of investment and/or ancillary services provided by the Company. Only a complaint submitted via the procedure outlined below shall be recorded as a Complaint by the Company and will be handled as such. The Company considers important and essential to pay the proper attention to each and every complaint made by a client, irrelevant of the subject matter of the complaint. ## 5. Procedure The Company shall establish a complaints management function responsible for the investigation of complaints. The client may submit a complaint addressed to the Customer Support Department which will assist the Compliance Department to resolve the complaint based on the procedure mentioned in the following paragraphs, and by liaising with all departments/personnel that are connected with the complaint(s) received. The client is encouraged to submit a complaint to the Company regarding the products and the services offered by the Company in any of the following ways: * a) By sending by post or delivering in person a letter which will include all of the following information: * The client's full name * The client's trading account number * The Client's address and email address * The affected transaction(s) number (if applicable) * Date and time that the issue causing the complaint arose * A full and clear description of the issue causing the complaint/content of the complaint * The extent in financial terms of the potential loss that the Client claims has suffered * Reference to any correspondence exchanged between the Company and the client (such correspondence should be attached) * b) By completing the Complaints Form, which can be found in Appendix A of this Procedure, and to be submitted via email at Once a complaint is received by the Customer Support Department, and fulfils the above\ requirements, the following shall apply: * A written acknowledgment from the Customer Support Department shall be sent to the\ client within five (5) days confirming receipt of the complaint and the estimated time under which the client shall be given a reply, and providing a unique reference number to the client for the specific complaint in accordance with CySEC's Circular C338; the client is advised to save his/her unique reference number to be used in all future contact with the Company, the Financial Ombudsman and/or the CySEC regarding the specific complaint; * The Customer Support Department shall register the complaint directly to the Company's internal register, as soon as possible and in an appropriate manner (by including inter alia, the unique reference number provided to complaints); * Within two (2) months of receipt, the Company shall investigate and send to the client a Final Response or a holding response, which will explain why it is not yet in a position to resolve the complaint and give an indication of when further contact shall be made. In such case a final answer to the Complaint shall be given within three (3) months from the date of reception of the complaint; Upon completion of the investigation the Company shall send a written notice to the complainant informing him/ her of the outcome of the investigation along with the reasons for reaching such a decision or – if applicable – the nature and terms of any offer and/ or settlement. * Please note that the Company shall consider complaint as closed when a period of three (3) months has elapsed from the date of submission of the complaint. The responsible Departments shall thoroughly examine complaints taking into account all available relevant information including but not limited to the information contained in the books and records of the Company and the client's trading account journal and reach a fair and reasonable outcome. Clients or potential clients can submit complaints to the Company free of charge. When handling a complaint, communication with clients or potential clients shall be clear, in plain language that is easy to understand. All complaints will be treated with confidentiality. ## 6. Records and Reporting The Company shall keep and continuously update records of all the complaints received by clients with details of the investigation conducted, the final outcome of these, any measures taken for their resolution and all the communication with the clients. The Company maintains an internal registry where all relevant details/information are maintained and the Customer Support Department is responsible to duly complete and/or update such accordingly.
Furthermore, the Company shall report on a monthly basis to CySEC information regarding Client complaints filed to the Company and how these are being handled, as per the requirements of CySEC's Circular C338. ## 7. Review of the policy This policy shall be regularly reviewed and updated by the Compliance Function in line with\ applicable legislation updates and when considered necessary and each updated version shall be approved by the Company's Board of Directors. The Company will inform its clients of any material changes to this procedure by posting the\ updated version of the policy on its Website. ## 8. Client’s dissatisfaction In cases where a client is dissatisfied with the Company's approach and final response, the client may directly submit his/her complaint to the Financial Ombudsman Service or to the Cyprus Securities and Exchange Commission (CySEC). Please refer to the information provided below. If you are an individual, or a legal entity, trust or charitable entity that can be categorized as a consumer under the legislation governing the creation and operation of an Alternative Dispute Resolution framework in Cyprus (Financial Ombudsman), you are entitled to escalate the complaint to the Financial Ombudsman if the solution or action taken / provided by the Company is not to your satisfaction or if the Company does not respond at all. In addition, clients may address their complaints to the Financial Ombudsman of Cyprus, provided that each complaint does not exceed the amount of two hundred and fifty thousand euro (250.000) within four (4) months from either the date of receipt of the reply from the Company or the deadline of the three (3) month period during which the Company had to respond to the client.
**Contact Details of the Financial Ombudsman of the Republic of Cyprus:**
Website: Email: Postal Address: P.O. BOX: 25735, 1311 Nicosia, Cyprus Telephone: +35722848900 Fax: +35722660584, +35722660118
**Contact Details of the Cyprus Securities and Exchange Commission:** Website: General email: Postal Address: P.O. BOX 24996, 1306 Nicosia, Cyprus Telephone: +35722506600 Fax: +35722506700 For any further questions of information, do not hesitate to contact us at: . *** ## Appendix A If you need to submit a complaint, please download and complete the Complaints Form provided below. {% file src="/files/UXO4NMJvfZIdRyhxElpF" %} *** **Risk warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all of your capital. Please consider our** [**Risk Disclosure**](broken://pages/zocmYdja4LPbWq71klPZ)**.** **Legal**: This website is operated by Trek Labs Europe Ltd, registration number HE335683, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. Trek Labs Europe Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 273/15. The company operates through [https://eu.backpack.exchange](https://eu.backpack.exchange/) and uses the trade name Backpack EU. # Reward Points Trek Labs Europe Ltd. dba Backpack EU **REWARD POINTS** **1. Reward Points** Through interaction with the Services, you may be eligible to earn rewards points (“Points”) for your participation and use of the Services. **POINTS DO NOT HOLD ANY INTRINSIC MONETARY VALUE, DO NOT CONSTITUTE PERSONAL PROPERTY OF THE USER, AND SHOULD NOT BE TREATED AS SUCH. THERE IS NO GUARANTEE THAT ANY POINTS WILL HAVE ANY VALUE WHATSOEVER. ANY POINTS YOU ACCRUE ARE HONORIFIC AND DO NOT GUARANTEE YOU ANY RIGHTS, UTILITY OR VALUE.** **2. Changes to Rewards Points** The number of Points earned may vary depending on the nature, type and amount of your interaction with the Services, as determined by us in our sole discretion. We reserve the right to determine, in our sole discretion, the number of Points awarded, if any, for any given interaction. We expressly reserve the right, in our sole and absolute discretion, to modify, alter, or change the calculation of Points at any time and for any reason without notice. Such modifications, alterations, or changes may include, but are not limited to, increasing or decreasing the number of Points awarded for a specific interaction, changing the activities for which Points may be awarded, starting or stopping the awarding of Points, modifying the cadence of awarding Points, changing the requirements or availability of any particular rewards ranking or division, changing the amount of Points awarded for any given time period, or imposing limits on the accumulation of Points. **3. Limitations; No Guarantee of Availability or Continued Availability. Restrictions** Some countries, regions or geographical areas may not be eligible to access or receive, or take certain other actions with respect to the Points. We do not guarantee the continued availability of any Points. Trek Labs Europe LTD reserves all rights to modify or cancel any Points previously awarded or accrued by any User or all Users, and may cease awarding Points at any time or from time to time.
Last update: July 2025 # Client Categorization Policy Trek Labs Europe Ltd. dba Backpack EU ## 1. Introduction Backpack EU is a brand name owned and operated by Trek Labs Europe Ltd (hereinafter referred to as the “Company,” “Backpack EU,” “us,” or “we”), a company incorporated in Cyprus with registration number HE 335683 and authorised by the Cyprus Securities and Exchange Commission (“CySEC”) under license no. 273/15, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. Following the implementation of the Markets in Financial Instruments Directive 2014/65/EU **(MiFID II**) and in accordance to the provisions of the Investment Services and Activities and Regulated Markets Law of 2017 (Law 87 (I)/2017) (hereinafter called the “**Law**”), the Company is required to categorise its Clients into one of the following three categories, each with different levels of protection and rights: (a) **Retail**, (b) **Professional** or (c) **Eligible Counterparty**, depending on the information provided by each Client during the account opening process. ## 2. General Principles The Company, prior to engaging in business relationship with its potential clients, it shall inform clients about their categorisation, their rights to request a different categorisation and about any limitations to the level of client protection that such change of categorisation would entail. It should be noted that each category entails a different level of client protection - maximum degree of protection is given to **Retail Clients** while minimum protection is given to **Eligible Counterparties**. It is stated that the Company has the right to review the current Policy and if changes need to be made herein, the Company shall accordingly change the categorisation of a Client if this is deemed necessary subject to applicable Regulations. ## 3. Categorisation Criteria The categorisation criteria set by the Law (as amended from time to time) are the following: ### 3.1 Retail Clients ‘**Retail Client’** is a client who is not a Professional Client or an Eligible Counterparty. ### 3.2 Professional Clients ‘**Professional Client**’ is a client who possesses the experience, knowledge and expertise to make his own investment decisions and properly assess the risks that he incurs. Certain categories of clients are considered to be Professional Clients on the basis of the provisions of MiFID II and the Law. These are also referred to as “per se” professional clients. Other clients may be treated as Professional Clients on request provided that the relevant criteria and procedures provided in MiFID II and the Law are satisfied. Those are referred to as “Elective” professional clients. ### 3.2.1. Categories of clients who are considered to be professionals - Per se Professional Clients The following should all be regarded as professionals in all investment services and activities and financial instruments for the purposes of MiFID II and the Law: a) Entities which are required to be authorised or regulated to operate in the financial markets. The list below should be understood as including all authorised entities carrying out the characteristic activities of the entities mentioned: entities authorised by a Member State under a Directive, entities authorised or regulated by a Member State without reference to a Directive and entities authorised or regulated by a non-Member State: ○ Credit institutions. ○ Investment firms. ○ Other authorised or regulated financial institutions. ○ Insurance companies. ○ Collective investment schemes and management companies of such schemes. ○ Pension funds and management companies of such funds. ○ Commodity and commodity derivatives dealers. ○ Local enterprises. ○ Other institutional investors. b) Large undertakings meeting two of the following size requirements on a company basis: ● balance sheet total of minimum EUR 20,000,000; ● net turnover of at least EUR 40,000,000; ● own funds of at least EUR 2,000,000. c) National and regional governments, public bodies that manage public debt, Central Banks, international and supranational institutions such as the World Bank, the International Monetary Fund (IMF), the European Central Bank (ECB), the European Investment Bank (EIB) and other similar international organisations. d) Other institutional investors whose main activity is to invest in financial instruments, including entities dedicated to the securitisation of assets or other financing transactions. The entities mentioned above are considered to be professionals. However, they are allowed to request non-professional treatment and we may agree to provide a higher level of protection. Where a Client is an undertaking referred to above, the Company must inform the Client, prior to any provision of services that, on the basis of the information available to us, the Client is deemed to be a Professional Client, and will be treated as such unless the Company and the Client agree otherwise. The Company must inform the Client that he may request a variation of the terms of the agreement in order to secure a higher degree of protection. It is the responsibility of the Client, considered to be a Professional Client, to ask for a higher level of protection when it deems it is unable to properly assess or manage the risk involved. This higher level of protection will be provided when a Client who is considered to be a Professional Client, enters into a written agreement with us to the effect that it shall not be treated as a Professional Client for the purposes of the applicable conduct of business regime. Such agreement shall apply across all services, types of products, and transactions offered by the Company. ### 3.3.2. Eligible Counterparties ‘Eligible Counterparty’ is any of the following entities to which a credit institution or an investment firm provides the services of reception and transmission of orders on behalf of clients and/or execution of such orders and/or dealing on own account: a) Cyprus Investment Firms and remaining investment firms; b) credit institutions; c) insurance undertakings; d) UCITS and their management companies; e) pension funds and their management companies; f) other financial institutions authorised by a Member State or regulated under the laws of Cyprus or under the European Union law; g) national governments and their corresponding offices including public bodies that deal with public debt at national level, central banks and supranational organisations. ## 4. Request for Different Categorisation The following requests may be submitted to the Company: a) Retail Clients can request to be categorized and treated as Professional Clients in which case they will be afforded a lower level of protection. b) Professional Clients can request to be categorized and treated as Retail Clients in which case they will be afforded a higher level of protection. c) Eligible Counterparties can request to be categorized and treated as either Retail or Professional Clients in which case they will be afforded a higher level of protection. It is noted that the Company will assess specified quantitative and qualitative criteria in accordance with the provisions of the Law and the change of categorization will depend on its absolute discretion. In this respect, the Company reserves the right to decline any of the above requests for different categorisation. ## 5. Procedure for Change of Categorisation ### 5.1 Retail Clients who may be treated as professional clients on request (i.e. Elective Professional Clients) Clients who may be classified as Professional Clients upon request (“Elective Professional Clients”) are those other than the categories referred to in paragraph 3.2.1 above, including public sector bodies, local public authorities, municipalities, and private individual investors. Such Clients may be permitted to waive certain protections afforded under the conduct of business rules. The Company may classify any such Client as a Professional Client upon receipt of a relevant request, in which case the procedure set out below shall be followed. The Company may classify such Clients as Professional Clients upon receipt of a relevant request, in which case the procedure outlined below will be followed. However, these Clients will not be presumed to have the same level of market knowledge and experience as Per Se Professional Clients. Any waiver of the protections afforded under the standard conduct of business regime will only be valid where the Company, following an appropriate assessment of the Client’s expertise, experience, and knowledge, reasonably determines—taking into account the nature of the proposed transactions or services—that the Client is capable of making informed investment decisions and understanding the associated risks. Clients who have been initially classified by the Company as Retail Clients are allowed to request to be treated as Professional Clients, if an adequate assessment of the expertise, experience and knowledge of the client undertaken by the Company gives reasonable assurance, in light of the nature of the transactions or services envisaged, that the client is capable of making investing decisions and understanding the risks involved. An example of the assessment of expertise and knowledge with regards to entities licensed under directives in the financial field could be the fitness test applied to the managers and directors of such entities. In the case of small entities, the person subject to that assessment shall be the person authorised to carry out transactions on behalf of the entity. In the course of that assessment, as a minimum, two of the following criteria shall be satisfied: ● The client has carried out transactions, in significant size, at an average frequency of 10 per quarter over the previous four quarters. ● The size of the client’s financial instrument portfolio exceeds EUR 500.000. ● The client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged. Those clients may waive the benefit of the detailed rules of business conduct only where the following procedure is followed: ● they must state in writing to the Company that they wish to be treated as a professional client, which shall apply to all investment services, transactions, and types of products offered by the Company.; ● the Company must give them a clear written warning of the protections and investor compensation rights they may lose; ● they must state in writing, in a separate document from the contract, that they are aware of the consequences of losing such protections. Before deciding to accept any request for waiver, the Company must take all reasonable steps to ensure that the client requesting to be treated as a professional client meets the relevant requirements stated above. The Company shall notify in writing all Clients who request a change in their categorisation, in accordance with the above, as to whether such request has been approved or rejected. The Company reserves the right to reject any such request where it determines that the Client does not meet the criteria for the requested client classification. Professional clients are responsible for keeping the Company informed about any change, which could affect their current categorisation. Should the Company become aware however that the client no longer fulfils the initial conditions, which made him/her eligible for a professional treatment, the Company shall take appropriate action. Where the appropriate action involves re-categorising that client as a Retail Client, the Company shall notify that client of its new categorization. ### 5.2 Professional Clients who may be treated as Retail Client on request A Professional Client is allowed to request non-professional treatment and the Company may agree to provide a higher level of protection. In this respect, the Company notifies its clients, prior to the provision of services, in a written form, of their option to be classified as retail clients and secure a higher degree of protection. The Company proceeds in this action, in order to offer a uniform level of protection to all of its clients. The higher level of protection will be provided by the Company when the client enters into a written agreement with the Company, to the effect that it shall not be treated as a professional. Such agreement shall apply across all services, types of products, and transactions offered by the Company. It is the responsibility of the client who is classified as a professional client to ask for a higher level of protection when he is not in a position to properly assess and manage the risks involved in the transactions. It should be pointed out to all the clients that Professional Clients are not covered by the Investor Compensation Fund for clients of investment firms. The Company shall be entitled to assume that a client who requested to be classified as a Professional Client has the necessary experience and knowledge in order to understand the risks involved in relation to all investment services, transactions, and types of products offered by the Company, and that the client is financially able to bear any related investment risks. The Company is not required to prioritize the overall costs of a transaction as being the most important factor, when providing Professional Clients with best execution. ### 5.3 Eligible Counterparties who may be treated as Retail or Professional Clients on request An Eligible Counterparty is allowed to request, either on a general form or on a trade-by-trade basis, treatment as client whose business with the Company is subject to Sections 25, 26, 28 and 29 of the Law 87(I)/2017 and the Company may agree to provide a higher level of protection. In this respect, the Company notifies its clients, prior to the provision of services, in a written form, of their option to request such treatment. The relevant request to the Company must be made in writing and shall apply to the Client’s classification across all investment services, transactions, and types of products offered by the Company. Where an Eligible Counterparty requests treatment as a client whose business with an investment firm is subject to Sections 25, 26, 28 and 29 of the Law 87(I)/2017, but does not expressly request treatment as a Retail Client, the Company shall treat that Eligible Counterparty as a Professional Client. Where the Eligible Counterparty expressly requests treatment as a Retail Client, the higher level of protection will be provided by the Company when the client enters into a written agreement with the Company, to the effect that it shall not be treated as a Professional. Such agreement shall apply across all services, types of products, and transactions offered by the Company. It is the responsibility of the client to ask for a higher level of protection when it deems unable to properly assess or manage the risks involved. ## 6. Waiver of Certain Rights and Protections for Professional Clients and Eligible Counterparties: ### 6.1 Protections waived by Professional Clients: When a client is categorised as a Professional Client, they waive certain protections that are otherwise afforded to Retail Clients under applicable law. The waived rights include, but are not limited to, the following: a) The Company may communicate with Professional Clients in a way that differs in simplicity and frequency from its communications with Retail Clients. Although the Company will ensure that all communications and information provided to Clients are fair, clear, and not misleading, it is not required to comply with the rules governing the content and restrictions of such communications. In particular, the Company must provide Retail Clients with additional information regarding transactions in complex financial instruments, including detailed risk warnings and notices, whereas this requirement does not apply to Professional Clients. b) The information the Company provides about itself, its services, products, and remuneration differs between Retail Clients and Professional Clients. Specifically: i. Although the Company is required to provide such information to all Clients, the level of detail, format, and timing may be less extensive for non-Retail Clients; ii. Certain restrictions on staff remuneration that may apply when servicing Retail Clients may not apply to staff dealing with Professional Clients; and iii. Information regarding the costs and charges of the Company’s services and products may be less comprehensive for Professional Clients compared with Retail Clients. c) When providing Professional Clients with best execution, the Company is not required to treat the overall consideration—i.e., the price and costs of the transaction—as the primary factor in achieving best execution. While price remains an important consideration, the relative importance of other factors, such as speed, costs, and fees, may vary. Unless the Professional Client provides the Company with specific instructions, we will deliver best execution in accordance with the Law, regardless of your client classification. For details on how we seek to achieve best execution, please refer to our [Order Execution Policy](https://eu.support.backpack.exchange/legal-documentation/order-execution-policy#id-3.4.1-nature-of-the-order). d) When executing orders on behalf of Retail Clients, the Company is obliged to inform them of any material difficulties encountered in carrying out those orders. This requirement may not apply to Professional Clients. e) The Company is required to assess the appropriateness of its products when dealing with Retail Clients. For Professional Clients, however, the Company may generally assume that they possess the necessary knowledge, experience, and expertise to understand the risks associated with the products and services offered by the Company. Notwithstanding this, Elective Professional Clients cannot be assumed to have the same level of knowledge, experience, and expertise as Per Se Professional Clients. f) Regarding the Company’s reporting obligations to Clients, the timeframe for confirming that an order has been executed is more stringent for Retail Clients than for Professional Clients. g) Retail Clients of the Company are covered by the [Investor Compensation Fund](https://eu.support.backpack.exchange/legal-documentation/investor-compensation-fund-notice) (“ICF”), which aims to protect the claims of eligible clients of regulated Cyprus Investment Firms (“CIFs”) that are members of the Fund, up to the amount specified by the relevant Law, in the event that a CIF is unable to meet its financial obligations. Professional Clients, however, are not eligible for compensation under the ICF. h) Professional Clients may forfeit their right to refer complaints to either CySEC or the Financial Ombudsman. Certain Professional Clients and Eligible Counterparties—such as large institutions and firms regulated by CySEC—will not be considered eligible complainants for referral to the Financial Ombudsman. i) The Company has a greater duty of care and liability toward Retail Clients than toward Professional Clients. j) The requirements under the applicable Client Money rules are more prescriptive and provide greater protection for Retail Clients than for Professional Clients. Nevertheless, we will treat all Client funds in accordance with these rules, regardless of client classification, unless otherwise agreed in writing. ### 6.2 Protections waived by Eligible Counterparties: When the Company classifies a Client as an Eligible Counterparty, the Client will receive a lower level of protection under the Law than they would as a Professional Client. In particular, and in addition to the points outlined above: a) The Company is not obligated to provide Eligible Counterparties with best execution when executing their orders. b) The Company is not required to provide Eligible Counterparties with information about the Company, its services, or the remuneration arrangements in place. c) The Company is not required to assess the suitability of any product or service for Eligible Counterparties and may assume that they have the expertise to select the most appropriate product or service, as well as the financial capacity to bear the associated risks in line with their investment objectives. d) The Company is not required to disclose to Eligible Counterparties any details regarding fees or commissions it pays or receives. e) The Company is not required to provide risk disclosures to Eligible Counterparties for the products or services they choose. f) The Company is not required to provide reports to Eligible Counterparties regarding the execution of their orders. g) Any claims of Eligible Counterparties are not covered by the Investor Compensation Fund. ## 7. Record – Keeping The Company must keep records of each notice provided and each agreement entered into in accordance with the present Policy. The Company shall keep records in relation to each client in relation to (a) the categorization established for the client, including sufficient information to support that categorization; (b) evidence of despatch to the client of any notice required under this Policy and a copy of the actual notice provided; and (c) a copy of any agreement entered into with the client under this Policy. *** **Risk warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all of your capital. Please consider our** [**Risk Disclosure**](broken://pages/zocmYdja4LPbWq71klPZ)**.** **Legal**: This website is operated by Trek Labs Europe Ltd, registration number HE335683, with registered address at Aiolou & Panagioti Diomidous 9, Katholiki, 3020 Limassol, Cyprus. Trek Labs Europe Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 273/15. The company operates through [https://eu.backpack.exchange](https://eu.backpack.exchange/) and uses the trade name Backpack EU. # Disclosure and Market Discipline Report for 2024 (Pillar III) The below document contains Trek Labs Europe Ltd's (Backpack EU) annual Pillar III Disclosure and Market Discipline Report for 2024, providing detailed information about our risk management framework, capital adequacy, and regulatory compliance as a licensed Cyprus Investment Firm regulated by CySEC under license number 273/15. {% file src="/files/v1b8kNEQ7U3jWcgg9w1j" %} # Disclosure and Market Discipline Report for 2025 (Pillar III) The below document contains Trek Labs Europe Ltd's (Backpack EU) annual Pillar III Disclosure and Market Discipline Report for 2025, providing detailed information about our risk management framework, capital adequacy, and regulatory compliance as a licensed Cyprus Investment Firm regulated by CySEC under license number 273/15. {% file src="/files/AnAYF5aKt3dYQsD2Vm6M" %} # General Legal # User Agreement * View our [**User Agreement regarding the use of Backpack Exchange**](https://drive.google.com/file/d/1fIBseUcW2bFfyVIo5l0E0e66ZCI4x69h/view?usp=sharing) * View our [T**erms of Service for Borrow and Lending Services**](https://cdn.prod.website-files.com/66963c7e9afe8660c7aa7526/67790552ad8b4863b4e0e46e_Backpack%20Borrowing%20Lending%20Terms%20of%20Service.pdf) * View our [**Terms of Service for Margin Trading Services**](https://cdn.prod.website-files.com/66963c7e9afe8660c7aa7526/6779055266397d01f38d4ab2_Backpack%20Margin%20Trading%20Terms%20of%20Service.pdf) * View our [**Terms of Service for Line of Credit**](https://cdn.prod.website-files.com/66963c7e9afe8660c7aa7526/6790b5de8dbc101455aff2cb_Line%20of%20Credit%20Terms%20of%20Service.pdf) * View our [**Terms of Service for Staking Services**](https://drive.google.com/file/d/1rRNi9LTH7WSHd8wkPETx6t6KQ4_UcVVF/view?usp=sharing) # Privacy Policy Privacy policy for the processing of personal data on the Backpack Exchange regarding the use of our services, products, website or mobile application. * View our [Privacy Policy](https://drive.google.com/file/d/1Px54z5VVD0EaouPJ1WVnR-qb9fCqzr-3/view?usp=sharing) *** **For Backpack Europe Users** * View our [Backpack Europe Privacy Policy](https://cdn.prod.website-files.com/66963c7e9afe8660c7aa7526/677e065a0d8f675554b146b2_Privacy%20Policy.pdf) # Cookie Policy Learn about our Cookie Policy for the collection and management of user information when using Backpack Exchange services, products, website, or mobile application. {% file src="/files/tv0Fnzo1OHt1cp9W9fWi" %} # VARA Disclosures # Virtual Asset Standards Virtual Asset Standards (VA Standards) for the Backpack Exchange in according with requirements set by the Dubai Virtual Assets Regulatory Authority (VARA). ‍ At Trek Labs Ltd FZE d/b/a Backpack Exchange (**Backpack Exchange**), we take our regulatory obligations seriously, and as such, we have established a set of VA Standards in accordance with the requirements set out by our regulator, the Dubai Virtual Assets Regulatory Authority (**VARA**). These Virtual Asset Standards (**VA Standards**) are designed to ensure that all Virtual Assets (**VA**) supported by Backpack Exchange meet appropriate regulatory requirements and are suitable for our clients. Our VA Standards are disclosed on our website, and we take all reasonable steps, including relevant due diligence, to ensure that all Virtual Assets we support meet these standards. ‍ Our VA Standards are set forth below. ‍ For any VA to be listed, or remain listed, on the Backpack Exchange: * it must be sufficiently liquid and meet minimum market capitalization and fully diluted value requirements. * it must have clear features, use cases, utility or community interest. * it must not be a “privacy coin” or contain any anonymity features that prevent traceability of transactions. * It must not be predominantly used for money laundering or terrorist financing activities. * it must comply with all laws, regulations, rules and directives applicable to it. * it must not be prohibited by VARA or any other appropriate authorities. ‍ Furthermore, when considering the listing of any VA on, or keeping any VA listed on, the Backpack Exchange; * We will take into consideration any guidance as to the regulatory treatment of a VA by VARA and other appropriate authorities. * We will assess the security and immutability of the underlying DLT protocol, considering factors such as 51% attack likelihood, uptime, frequency and severity of transaction backlogs/ability to make transfers effectively, and any hacks or protocol errors. * We will take into consideration the future development of the VA as communicated by the Issuer and/or relevant developers, whether this exists and to what extent, as well as the content of it. * We will assess any previous instances of price manipulation, as well as the potential susceptibility of price manipulation, considering factors like team and holder concentration, and market liquidity, and any relevant mitigants that could be put in place. * We will assess any potential or actual conflicts of interest, and any relevant mitigants to such conflicts that could be put in place. * We will assess the background of the issuer of the VA, including their experience in the VA sector, any adverse media, and any investigations or claims in relation to fraud, deceit, market manipulation or other illicit behaviour. * We will consider any rights related to the VA, including whether they represent rights to any other assets (such as real world assets or airdrops of other VAs), and the enforceability of those rights. * we will assess the availability of sufficient assets in order that we are able to satisfy any obligation we have with respect to the VA and any relevant VA Activities. * We will, if the VA has an underlying physical market, assess and form an understanding of the underlying physical market and assess whether, and to what extent, the VA in question can have adverse impacts on such a market. * We will, if applicable, review, and periodically review, any terms and conditions for appropriate correlation with any physical market to ensure conformity with standards and practices in that physical market. * We will take into consideration any other factors, benefits and risks we may deem relevant, to our clients and to the exchange. ‍ As part of Backpack Exchange’s VA Listing Policy, VA Standards will all be assessed when any VA is being considered for listing on Backpack Exchange. The information gathered, analysis performed and decision on whether to list will be documented, with such documentation kept on file for eight years and available to VARA upon request. ‍ Similarly, Backpack Exchange reviews listed VAs to ensure they continually meet the VA Standards every six months, or as soon as possible if Backpack Exchange becomes aware of any developments, related to the VA in question, that would potentially result in the VA no longer meeting the VA Standards. The information gathered, analysis performed and any decisions reached on whether the VA remains listed or not will be documented, with such documentation kept on file for eight years and available to VARA upon request. ‍ Backpack Exchange shall regularly, and on an ongoing basis, assess relevant information to ensure that a Virtual Asset that it provides VA Activities in relation to continues to meet its VA Standards. A Virtual Asset that initially meets Backpack Exchange’s VA Standards may no longer fulfil such standards in the event of certain events, such as evidence of market manipulation by the issuer, lack of sufficient assets to satisfy the issuer’s obligations, treatment of a Virtual Asset as a regulated financial instrument by VARA or other appropriate authorities, fraud, or other similar events. In the event that a Virtual Asset no longer meets our VA Standards, we may suspend support for such Virtual Assets. We have necessary operational procedures and controls in place for such suspensions, and we will notify the appropriate regulators as soon as possible after becoming aware of any such issues. We take all necessary steps as directed by regulators to minimise any adverse impact on our clients arising as a result. --- [Next Page](/llms-full.txt/1)