Last Updated: November 1, 2023
Thank you for visiting OKX.com. By visiting, accessing, or using OKX.com and associated application program interface or mobile applications (“OKX Platform”), you (“User”, “user”, “You” or “you”) consent to the Terms of Service (these “Terms”), so please read them carefully.
The Terms constitute the agreement and understanding regarding the use of any or all of the Services, and any manner of accessing them, between you and the following service providers (“we,” “us” or “our”) depending on your residency and date of registration:
OKX Bahamas FinTech Company Limited, a Bahamas registered company (“OKX Bahamas”), for Users who are residents of Mexico and who registered between November 16, 2022 and August 28, 2023, and institutional Users who are registered on or after August 29, 2023;
OKX Hong Kong FinTech Company Limited, a Hong Kong registered company (“OKX HK”), for Users who are residents of Hong Kong and who registered on or after May 15, 2023;
OKX Serviços Digitais Ltda., a Brazil limited liability company (“OKX Brazil”), for Users who are residents of Brazil and who registered on or after June 15, 2023;
OKX SG Pte. Ltd., a Singapore limited liability company (“OKX Singapore”), for Users who are residents of Singapore and who registered on or after October 13, 2023;
Aux Cayes FinTech Co. Ltd., a Seychelles registered company (“Aux Cayes”), for all other Users eligible to access and use OKX’s Services.
Where the term “OKX” is used in these Terms, it shall mean either OKX Bahamas, OKX HK, OKX Brazil, OKX Singapore, or Aux Cayes as the case may be for their respective Users.
1 PREAMBLE
1.1 By clicking on the “Create Account” button or by visiting the OKX Platform, we may provide you with access and utility through our trading platform via software, API (application program interface), technologies, products and/or functionalities. A description of the Services provided by us is contained in Clause 4 of these Terms. A list of defined terms and their meaning is contained in Clause 22 of these Terms.
1.2 As described in these Terms, you agree to be legally bound by these Terms and all terms incorporated by reference. If you do not agree to be bound by these Terms, do not access or use the Services. Certain clauses in these Terms will be different depending on whether you are a User of OKX Bahamas, OKX HK, OKX Brazil, OKX Singapore, or Aux Cayes. Where this is the case, the relevant Clause will set out which User the Clause applies to.
1.3 To the fullest extent permissible pursuant to Applicable Laws and Regulations and in accordance with Clause 16, we reserve the right to change or modify the Terms, and any policy or guideline of the OKX Platform, at any time and at our sole discretion.
1.4 To the fullest extent permissible pursuant to Applicable Laws and Regulations, you agree to the Terms in effect when you access or use the platform, you must stop using our Services. We encourage you to frequently review the Terms to ensure that you understand the terms and conditions that apply to your access to, and use of, the Services. If you have any questions regarding the use of the OKX Platform, please go to Support Center.
1.5 The Terms and any terms expressly incorporated herein apply to your access to, and use of, any services provided by us. The Terms take precedence over and do not alter in any way the terms or conditions of any other agreement you may have with us for products, services or otherwise. If you are using the Services on behalf of a legal entity, you represent and warrant that (a) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization and (b) you are authorized to accept the Terms on such entity’s behalf and that such entity agrees to be responsible to us if you violate the Terms.
1.6 You should read the Terms, and any document referred to in them very carefully. If there is anything that you do not understand in the Terms and any document referred to herein, you should discuss this matter with us and seek the necessary clarification.
1.7 Any formal communication with you will be undertaken through electronic mail unless otherwise instructed. Documents will be sent to you by electronic mail and you should seek to send any documents to us by the same means. Please visit Support Center for assistance.
1.8 Any formal communication with you will, unless otherwise agreed, be made in the English language. In the event of any discrepancy between the English language version of the Terms or any such communications and any translation of the Terms or such communications (as applicable) in a foreign language, the respective English version shall prevail.
2 ELIGIBILITY AND PROHIBITION OF USING OUR SERVICES & BUSINESS
2.1 The Services are intended solely for Users who are Natural Persons aged 18 or older. If you are a Natural Person, by accessing or using our Services, you represent and warrant that you are at least 18 years old. If you are registering to use the Service(s) on behalf of a legal entity (e.g. corporate or institutional customers), you represent and warrant that such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; you are duly authorized by such legal entity to act on its behalf, such legal entity agrees to be responsible to us if you violate these Terms, and you have not previously been suspended or removed from the OKX Platform or Services. You also represent and warrant that you are not on and that you will not transact with anyone on any trade or economic sanctions lists of any Competent Authority, which includes without limitation: Terrorism and terrorist financing - Islamic State in Iraq and the Levant (Da’esh), Al-Qaida, the Taliban, and associated individuals, groups, undertakings, and entities, any individual or entity designated by the United Arab Emirates ("Local Terrorism List"); and the financing of proliferation of weapons of mass destruction (WMDs) - Democratic People’s Republic of Korea: nuclear-related, other weapons of mass destruction-related, and ballistic missile-related programs; Islamic Republic of Iran: nuclear program; and other sanction lists that may be promulgated by a Competent Authority, including but not limited to the United Nations Security Council, European Union, the Monetary Authority of Singapore, Hong Kong Monetary Authority, Hong Kong Customs and Excise Department, or Office of Foreign Asset Control. You agree to provide written certification of your compliance of this Clause 2.1 as soon as reasonably practicable when requested by us.
2.2 Note that we may not make all of the Services available in all markets and jurisdictions, and may restrict or prohibit use of all or a portion of the Services from Restricted Locations, which at this time include Hong Kong (specifically regarding our derivatives-related Services), Belgium, Cuba, France, Iran, Japan, North Korea, Crimea, Malaysia, Singapore (specifically regarding our Margin and derivatives related Services), Syria, United States of America including all U.S.A. territories like Puerto Rico, American Samoa, Guam, Northern Mariana Island, and the US Virgin Islands (St. Croix, St. John and St. Thomas), the Bahamas, Canada, the Netherlands, the United Kingdom (specifically regarding our derivatives-related Services for retail users), Ireland, Bangladesh, Bolivia, Donetsk, Luhansk and Malta. The content of the Terms shall not be excluded from the laws of the country or region under which the user belongs. As a result, if you do not meet these eligibility requirements, do not use our Services. Residents of Belgium, France, Ireland, Japan, the Bahamas and the Netherlands are not permitted to open new accounts at OKX or access the Services if they have not yet opened an account.
3 PROHIBITED BUSINESSES
3.1 Any use of our Services in connection with any of the following categories of activities or businesses is prohibited (“Prohibited Businesses”), and we reserve the right at all times to monitor your transactions or accounts that are related to any of the following Prohibited Businesses:
(a) unlicensed money service businesses, including but not limited to payment services providers, the sale of money orders or cashier’s checks or any money transmitter activities;
(b) prohibiting any business relationships with banks or financial institutions that do not maintain a physical presence in any country (i.e., a prohibited “Shell Bank'') or that have financial activities or services that do not comply with, or would cause OKX Bahamas, OKX HK, OKX Brazil, OKX Singapore, or Aux Cayes, as applicable, to not be in compliance with any laws, regulations, or other legal authority applicable to us or applicable to the regulated financial services or activities in question.
(c) adult content and services, including but not limited to any types of pornography and other obscene materials (including literature, imagery and other media), sites offering any sexually-related services such as prostitution, escorts, pay-per view, and adult live chat features;
(d) deceptive marketing and false advertising services;
(e) religious and/or spiritual organizations;
(f) unlicensed sale of weapons of any kind, including but not limited to firearms, ammunition, knives, explosives, or related accessories;
(g) certain regulated products and services, including but not limited to marijuana dispensaries and related businesses; sale of tobacco, e-cigarettes, and e-liquid; online prescription or pharmaceutical services; age restricted goods or services; and toxic, flammable, and radioactive materials;
(h) pseudo-pharmaceuticals - companies manufacturing and or selling untested or unapproved pharmaceuticals;
(i) drugs and drug paraphernalia, including but not limited to, sale of narcotics, controlled substances, and any equipment designed for making or using drugs, such as bongs, vaporizers and hookahs
(j) gambling activities, including but not limited to sports betting, casino games, horse racing, dog racing, lotteries, games of chance, sweepstakes, games of skill that may be classified as gambling (i.e. poker), or other activities that facilitate any of the foregoing;
(k) money-laundering, fraud, terrorist financing, or any other type of financial crimes;
(l) any sort of Ponzi scheme, pyramid scheme, or multi-level marketing program;
(m) goods or services that infringe or violate any copyright, trademark, or proprietary rights under the laws of any jurisdiction;
(n) layaway systems, or annuities;
(o) counterfeit or unauthorized goods, including but not limited to the sale or resale of fake or “novelty” IDs and the sale of goods or services that are illegally imported or exported or which are stolen;
(p) wash trading, front-running, insider trading, market manipulation or other forms of market-based fraud or deceit;
(q) purchasing goods of any type from hidden service markets or “Darknet” markets, or any other service or website that acts as a marketplace for illegal goods (even though such marketplace might also sell legal goods);
(r) any other matters, goods, or services that from time to time we deem to be unacceptable or of high risk, and which, for example, may be restricted by our and your bank or payment partners;
(s) any other unlawful activities which would, in our sole discretion, violate, or assist in violation of, any law, statute, ordinance, or regulation, sanctions programs administered in the countries where we conduct business, or which would involve proceeds of any unlawful activities;
(t) Shell Banks or financial institutions that have customers that are Shell Banks;
(u) entities with bearer share ownership;
(v) defense industry, firearms & munitions manufacturers;
(w) nuclear energy;
(x) restricted financial services, including but not limited to credit repair, debt settlement, refinance, bail bonds, collections agencies; or
(y) transactions or business involving ivory and protected species.
3.2 In the event that we learn or reasonably suspect, in our sole discretion, that your account is or may be associated with any of the Prohibited Businesses as set forth above, we will consider it to be a violation of these Terms and may suspend or terminate your account, and/or block transactions or freeze your funds immediately without notice, and we reserve the right to report any such suspected or actual Prohibited Businesses to the law enforcement authorities.
4 DESCRIPTION OF OUR SERVICES
4.1 We provide an online trading platform for Users to hold and trade Digital Assets (“Digital Assets” as defined below, and also known as virtual financial assets, cryptographic tokens, digital tokens and/or cryptographic currency) and derivatives linked to Digital Assets or indices thereof. Users may request the withdrawal of their Digital Assets at any time, subject to the limitations as stated in the Terms.
4.2 We provide the User with trading services including:
(a) an order matching platform that automatically, and according to pre-established criteria, matches Users’ trades with open orders from other Users in respect of Digital Assets or Digital Asset linked products;
(b) Spot Services that permit you to trade one type of Digital Asset for another type of Digital Asset with another User through an order-matching engine. You will not be able to predetermine or undertake a trade with a predetermined user. Similarly, an order may be partially filled or may be filled by multiple matching orders arising from different users;
(c) Additional Services that permit you to trade derivative products linked to Digital Assets or indices composed of them with other users. These trades are via an order matching platform that automatically, and according to pre-established criteria, matches users’ trades with open orders from other users. You will not be able to predetermine or undertake a trade with a pre-determined user.
4.3 To the extent permitted by Applicable Laws and Regulations, Margin is permitted, at our discretion, to be employed when using our Services. The parameters of Margin and leverage permitted for each of these products are set and may be varied by us in accordance with the actual market conditions at our discretion and depend upon the type of service, type of asset, and amount of collateral used in the transaction. Eligible users may select the amount of Margin or leverage they desire to use within those parameters (subject to it being offered by us). When utilizing Margin, users acknowledge, in all cases, that use of margin and other leverage products is high-risk that may result in a loss larger than the funds in their accounts and which may require liquidation of their assets, as specified by the terms governing Margin for each product. The specific leverage amounts permitted for each product can be found at the following links for indicative purposes only:
(a) Spot Margin; (b) Perpetual Swap Margin; (c) Futures Contract Margin; (d) Option Margin
4.4 Other Services include, but are not limited to:
(a) P2P – a Peer to Peer matching service, allowing users to exchange their Fiat Currency and Digital Assets with each other. Users are able to buy and sell Digital Assets from each other without the need of a centralized trusted third party such as an exchange;
(b) Margin Lending – a lending service allowing users to borrow/lend Digital Assets to one another and earn rewards; and
(c) Digital Wallet – a digital wallet, maintained by us on each user’s behalf, enabling each user to store any Digital Assets that are traded via the exchange services, or any P2P Digital Assets that are deposited or acquired by you through the P2P platform which allows users to buy and sell digital assets directly between users, not directly with OKX.
4.5 Not every Service offered by OKX is addressed in these Terms. Aside from the core spot trading and other Services addressed herein, additional Services are subject to other agreements specific to those Services on the OKX Platform. Additionally, certain Services mentioned in these Terms are subject to additional terms on the OKX Platform. For the terms governing those services, please refer to the “FAQs” section of the Website, available here.
4.6 In general, our Services facilitate transactions that match users with other users. In certain limited circumstances, OKX's Related Parties may trade on the OKX Platform or use other Services on a proprietary basis, as principal, or on behalf of others. Such trading activity may include, but is not limited to, buying or selling Digital Assets or derivatives, placing Orders to buy or sell Digital Assets or derivatives, acting as a market maker for certain Digital Assets or derivatives, and trading as a principal in Digital Asset transactions or derivatives. Orders submitted and trades executed by OKX's Related Parties are not distinguished from other trades on the OKX Platform. OKX's Related Parties thus may act as a counterparty to any trade executed by you or other Users. The trading activity of OKX's Related Parties, as described herein, may include OKX's Related Parties engaging in transactions with multiple counterparties, including other Users, where interests may differ. OKX and its Related Parties have no duty to act solely on your behalf and undertakes no responsibility to do so. You agree and understand that OKX's Related Parties may use the OKX Platform and other Services. You agree not to object to or otherwise bring a claim against OKX and its Related Parties related to any transaction conducted by OKX and its Related Parties.
4.7 By accepting the Terms, you expressly agree to the pooling of your Digital Assets with the Digital Assets of other users. Digital assets of users are not protected by deposit protection or deposit insurance scheme. In the case of an irreconcilable shortfall, you may not receive some or any of your deposited assets or funds.
4.8 You represent and warrant that you are the ultimate and effective legal and beneficial owner of any Digital Assets transferred to your account or wallet on the OKX Platform, that you shall not act as nominee or trustee for any other person and that you shall not transfer, assign, pledge, charge or otherwise create any security interest or encumbrance whatsoever over such Digital Assets.
4.9 We shall not be obliged to accept orders unless sufficient Digital Assets are available on the account for (a) the settlement of the relevant order, (b) the provision of Margin as may be required in respect of a relevant transaction in derivatives, and (c) the payment of any related charges and expenses as applicable.
4.10 While we have made every effort to ensure the accuracy of the information on our OKX Platform, the information and content on the OKX Platform is subject to change without notice and is provided for the sole purpose of assisting users to make independent decisions. We have taken reasonable measures to ensure the accuracy of the information on the OKX Platform; however, we do not guarantee the accuracy, suitability, reliability, completeness, performance and/or fitness for purpose of the content of any Services or products available through the OKX Platform, and will not accept liability for any loss or damage that may arise directly or indirectly from the content or your inability to access the OKX Platform, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through our platform. We will not have any liability for the use or interpretation of such information.
4.11 Users shall prepare devices and bear costs as follows: 1) internet-connected device, including but not limited to computer or other internet-connected terminals; and 2) internet-accessing costs, including but not limited to internet fees, rental charges for internet-connected equipment, cellular data fees, etc.
4.12 You hereby authorize us to send you communications relating to your Account via email, SMS, mobile notification, or mailing address. You may also opt-out of certain communications by changing relevant settings on the OKX Platform.
4.13 You acknowledge and consent that the Services are provided by us according to their current technological capacity and other conditions. While we have made every effort to ensure continuity and security of the Services, we are unable to completely foresee and hedge legal, technological and other risks including but not limited to force majeure, virus, hacker attack, system instability, flaws in third-party services, acts of government, or government agency etc. that may result in service interruption, data loss and other losses and risks.
4.14 When the OKX Platform is unable to operate properly because of the following circumstances and the user is unable to access the Services or place or cancel an order, we assume no liability for damages. These circumstances include, but are not limited to:
(a) system downtime during maintenance as announced by the OKX Platform;
(b) telecom or networking equipment issues;
(c) typhoon, earthquake, tsunami, flood, power failure, war, terrorist attacks, and other force majeure factors;
(d) any other issues, including hacker attacks, computer virus intrusion or attack, website or backend maintenance and upgrade, banking related issues, government regulation or mandates, freezing order imposed by any Competent Authority and any other third party issues; and
(e) damages to users or other third parties caused by third parties.
4.15 In relation to the Services provided by OKX on the OKX Platform:
(a) we reserve the right to process, cancel, correct, clawback, and/or reverse, any Digital Asset transaction or transfers or cancel abnormal transaction results in our sole discretion, even after funds may have been debited from your account(s) upon the occurrence of abnormal transactions, market interruption and other abnormal conditions caused by , arising from, or related to system failure, platform system bug(s), network failure, distributed denial of service attacks (DDos) and other hacker attacks and other unexpected factors; or in response to a subpoena, court order, or other government order; or if we suspect the transaction may: involve money laundering, terrorist financing, fraud, or any other type of financial crime; be erroneous; or relate to a prohibited use in accordance with these Terms. For Futures, P2P, and Margin Lending, we reserve the right to rollback all the transactions of a certain period of time as described in the respective user agreement. In such instances, OKX will reverse the transaction and debit the corresponding Digital Assets from your account(s) to recover the Losses arising from such transaction, and we are under no obligation to reinstate any purchase or sale order at the same price or on the same terms as the canceled transaction; and/or
(b) we strictly prohibit unfair trading behaviors. OKX reserves the right to enact, under its sole discretion, and take control over your account, if you: (i) are involved in price manipulation, insider dealing, market manipulation, market distortion or any other malicious wrongdoings to the market; (ii) might be harming other users or OKX by exploiting the Service’s vulnerabilities or by other unreasonable means; (iii) are involved in any other activities that OKX deems harmful to the overall well-being of the market.
We also reserve the right to take actions, including but not limited to, close your accounts, limit trading, halt trading, cancel transactions, rollback transactions and return the relevant Digital Assets to any complainant so as to eliminate any adverse effects to the overall well-being of the market. In no event shall we be liable to you for any loss incurred when such action against you happens.
4.16 We shall not ask for any password or private keys from our users, nor shall we ask users to transmit any funds or Digital Assets, as applicable. Accordingly, we shall not be responsible for any losses caused by your transmittal of funds or Digital Assets, as applicable.
4.17 Users acknowledge that we may delist any Digital Asset from the OKX Platform at our sole discretion.
4.18 With regard to abnormal transaction handling, while using the Services, you agree to and acknowledge the possibility of discontinuity and disruption of the Services due to connectivity problems of the Digital Asset networks or other force majeure. Users shall make sure to provide only correct information. We do not assume any responsibility for any losses caused by the aforementioned situations due to you providing incorrect information that results in our inability to reach out and to explain to you the handling procedures.
4.19 We have the right to know the purpose and background of the users who use our products or services. Users should provide comprehensive and accurate information as required. If we have reasonable grounds to suspect that the User has provided false information, we are entitled to restrict the User from the use of some or all of Services temporarily or permanently.
4.20 Any Digital Asset you purchase using a debit or credit card will be credited to your Account and our obligation in this regard will be deemed complete when the Digital Asset purchased by you is reflected in your Account. We are not responsible for any losses that may occur after that point. You are solely responsible for the management of those Digital Assets once credited.
5 TRADING ON THE OKX PLATFORM
5.1 A User may buy or sell a Digital Asset by placing an instruction on the OKX Platform (an “Order”) in one (1) Digital Asset into another Digital Asset.
5.2 Users should verify all transaction information prior to submitting an Order. Users acknowledge and agree that it is the sole responsibility of the User to ensure the validity and accuracy of an Order, including the details of the recipient of any Assets. OKX shall not be liable for the consequences of the User not providing valid and accurate information when placing an Order.
5.3 The OKX Platform is accessible twenty-four (24) hours a day, seven (7) days a week and three hundred and sixty-five (365) days a year, except for any period during which scheduled maintenance or upgrades are being carried out, or in the event that the OKX Platform encounters an interruption or outage that is unexpected or beyond its control.
5.4 OKX may, at its sole discretion and without prior notice close a User’s Account, or suspend a User’s access or use of the OKX Platform or the Services, refuse any Order submitted, or impose limits on trading amounts on the OKX Platform, if OKX deems that a User may have contravened Applicable Rules and Regulations.
5.5 A User may only place an Order using the OKX Platform if the User’s Account contains sufficient Assets to cover the Order and any associated fees. If the Account does not contain sufficient Assets to complete an Order on the OKX Platform, the User will not be able to complete such Order on the OKX Platform.
5.6 When a User places an Order, that quantity of the relevant Asset (including any applicable Fees) is placed on hold in the Account until the Order fills, expires, or is canceled. Any unfilled portion of an Order will remain on hold until it fills, expires, or is canceled.
5.7 A User may withdraw or cancel an Order after it is submitted, as long as such Order has not been executed pending confirmation by the relevant Digital Asset network. Digital Assets which are the subject of a pending Trade shall not be reflected in a User’s Account, and shall therefore not be available for the User to trade. Users understand and agree that:
(a) Trades are irreversible once Orders are executed; and
(b) while OKX may, at its sole discretion, reverse a Trade under certain extraordinary conditions (including but not limited to breaches of the Applicable Laws and Regulations or Financial Crime), a User does not have a right to a reversal of a Trade.
5.8 OKX will send a confirmation to the User by email, a Notice, or any other means of communication as provided for under these Terms, every time a User places an Order, cancels an Order, and when that Order is partially or completely filled.
5.9 By entering into these Terms, Users acknowledge and agree that:
(a) by entering into a Trade on the OKX Platform, a User is instructing OKX to carry out the Trade at the buy price or sell price quoted on the OKX Platform on the basis of which the User placed the Order, and the User agrees to pay any associated fees. The price of a Trade shall be determined to be the price agreed between the User and the other party to that Trade, and OKX shall not be a party to such Trade or responsible for setting or negotiating the price of a Trade, except as set out specifically in these Terms. Users shall not claim against OKX regarding such Trades. OKX does not guarantee the completion of any attempted sale or purchase of Digital Assets;
(b) OKX carries out Trades based on price-time priority;
(c) they are subject to the same price-time priority as any other Users of the OKX Platform;
(d) Orders submitted through the API are subject to the same price-time priority as Orders received from the OKX Platform;
(e) all filled Orders are settled immediately by debiting and crediting the relevant balances of Assets in both parties’ Accounts. Users will receive immediate notification of their fill(s) via the OKX Platform and/or via email or any other agreed means of communication and they can be viewed in a User’s trading history;
(f) APIs enable a User to stream live prices into their own user interface as well as to perform the same Trade or to place the same Order that is available to the User on the OKX Platform;
(g) For Users of OKX Singapore specifically, the counterparty to every User’s Trade shall be OKX Singapore.
(h) in order to maintain a fair and orderly OKX Platform, OKX may restrict the number of Orders allowed through the API and monitor messages through the API in order to:
(i)protect the API against denial of service attacks;
(ii)prevent the abuse of an order book; and
(iii)improve the overall trading experience on the OKX Platform.
5.10 OKX may limit the number of Orders placed through a User’s Account.
5.11 Use of the API will be for legitimate trading purposes and any repeated violation of Order rate limits will result in OKX suspending or closing the User’s account in accordance with these Terms.
5.12 The transaction history provided on the OKX Platform is the true and accurate record of a User’s transactions. It is a User’s responsibility to remain up to date on its transaction history and any Notices with respect to the User’s Account.
5.13 Users understand and agree that there may be a delay in executing a Trade on the OKX Platform as a result of OKX’s secure trading protocols which require Digital Asset private keys to be stored securely using a combination of online and offline storage for added security.
Scheduled downtime
5.14 The User agrees and understands that part of or all of the Services may be periodically unavailable during scheduled maintenance.
5.15 Downtime may be communicated in advance to the User via a Notice published on the OKX Platform or by other means.
Suspension of Services
5.16 The User acknowledges and agrees that OKX shall have, at OKX’s sole discretion, the right to suspend all or part of the Services, or the User’s access to all or part of the Services, whenever OKX determines in OKX’s sole discretion that:
(a) the User may have breached these Terms; or
(b) the proper functioning of the OKX Platform is in jeopardy.
5.17 For the purposes of Clause 5.16(b), the proper functioning of the OKX Platform will be in jeopardy in the following circumstances:
(a) when a computer or telecommunications network ceases to operate or function as a result of an accident;
(b) in the event of a Force Majeure Event which affects the provision of the Services;
(c) when OKX’s assets or the User’s Assets, or the OKX Platform, are the subject of an attempted or actual malicious attack which may, among other things, result in the theft or loss of such assets;
(d) when an event affects the proper functioning of critical systems relied upon by the OKX Platform, including the pricing system or any other system necessary for the provision of the Services;
(e) when OKX suspects unauthorized use of the OKX Platform, or a breach of these Terms or Applicable Laws and Regulations;
(f) when OKX determines that it is necessary, in its sole discretion, to conduct investigations in light of its requirements under Applicable Laws and Regulations or to ensure the proper functioning of the OKX Platform;
(g) when OKX decides to cease handling a Digital Asset based on the results of a Hard Fork that causes a chain split or changes to a Digital Asset;
(h) when OKX deems that the provision of the Services cannot continue due to changes in Applicable Laws and Regulations, social conditions, or factors outside OKX’s control, including but not limited to when a Digital Asset is no longer deemed an “Acceptable Digital Asset” by the Competent Authorities; or
(i) when for any other reason, OKX determines in its sole discretion that the suspension is necessary.
6 RISK DISCLOSURE
Introduction
6.1 This Clause 6 provides Users with information about the risks associated with trading in Digital Assets and any other Services provided by OKX. Applicants and Users should read this Risk Statement carefully before applying to open an Account and executing Trades. This Risk Statement should be read in conjunction with the Risk and Compliance Disclosure.
6.2 This Clause 6 is not intended to disclose or discuss in detail all of the risks associated with trading or holding Digital Assets or the use of the Services provided by OKX. This Risk Statement is not exhaustive and only outlines the general nature of the risks involved. Users should ensure that their decisions are made on a well-informed basis, and they should undertake their own assessment as to the suitability of trading in Digital Assets in the light of their experience, objectives, financial resources and their specific needs and requirements.
6.3 By opening an Account and undertaking Trades, a User is deemed to have reviewed, understood and accepted the risks associated with the Services provided by OKX.
6.4 The market for Digital Assets is very new and rapidly developing and the risks of trading such assets are not fully understood. As such, OKX may update this Risk Statement periodically, as notified to Users from time to time, to list additional risks in transacting in Digital Assets, but accepts no liability whatsoever in the event that any risk is not addressed in the risk statement.
6.5 Users acknowledge and agree that it is the User’s responsibility to stay up to date with the updated Risk Statement published by OKX from time to time.
Overview of risks
6.6 This Risk Statement addresses the following risks associated with transacting in Digital Assets in respect of the following matters:
(a) the nature of Digital Assets;
(b) value of Digital Assets and the risk of loss;
(c) past performance;
(d) suitability;
(e) availability of Digital Assets.
(f) currency risk;
(g) risk of Financial Crime and cybercrime;
(h) technology risk;
(i) legal risk;
(j) regulatory risk;
(k) stop risk; and
(l) Margin, gearing and leverage.