Derivatives Trading Terms

Last Updated: 11 March 2025

These Derivatives Service Specific Terms (“Agreement”) shall apply to all users of the Derivatives Trading Services (defined below) on the Trading Platform. Your access to and use of the Derivatives Trading Services shall constitute your agreement to the terms of this Agreement.

All capitalised terms and references used in this Agreement that are defined and construed in the Flipster Terms of Use (the “Terms of Use”) but are not defined or construed in this Agreement shall have the same meaning and construction in this Agreement. For the avoidance of doubt, where a term is defined both in the Terms of Use and in this Agreement, the definition provided in this Agreement shall (for the purposes of this Agreement only) apply.

The terms in this Agreement shall be supplemental to and are to be read together with the Derivatives Trading Rules (defined below). In the event of any conflict or inconsistency between the terms in this Agreement and the Derivatives Trading Rules or the terms of this Agreement, the terms in this Agreement shall prevail with respect to the services contemplated hereunder unless expressly stated otherwise.

Unless otherwise expressly agreed by us in writing, this version of this Agreement shall replace and supersede all previous versions of this Agreement that may have been accepted by you or otherwise made available on the Trading Platform.

Risk Disclosure

Our Trading Platform provides access to Derivatives on cryptocurrencies. Derivatives are leveraged products which are complex and may not be suitable for inexperienced investors. Please also refer to clause 20 of our Terms of Use for full disclosure on all the risks related to the use of the Trading Platform.

BY TRADING ON THE TRADING PLATFORM, YOU CAN LOSE UP TO YOUR ENTIRE DEPOSIT IN A VERY SHORT PERIOD OF TIME. The amount you may lose is potentially unlimited and can exceed the amount which you originally deposit with us. This is because Derivatives trading is highly leveraged. Be cautious of claims that you can make large profits from trading Derivatives. You should seek advice from an independent and suitably licensed financial advisor and ensure that you have the risk appetite, relevant experience and knowledge before you decide to trade.

When trading on our Trading Platform, it is your responsibility:

  • To familiarise yourself with cryptocurrencies and our Trading Platform’s cryptocurrency Derivatives before you start trading.

  • To monitor your open positions and/or to reduce your position or deposit additional margin (where applicable) to avoid a losing position being closed out.

  • Not to deposit more than you can afford to lose.

  • Not to build positions that are beyond your financial capacity to maintain.

  • By using the Trading Platform, you acknowledge that you have understood the associated risks and that you accept these risks, in particular that:

    • Cryptocurrency is a highly volatile asset class and is based on decentralised monetary protocols which are still in experimental stage and may change at any time.

    • Trading Derivatives exposes you to market risk. This is the risk that you suffer a loss as a result of a position in Derivatives moving against you. If you hold a long position and the cryptocurrency price declines or if you hold a short position and the cryptocurrency price increases, you can lose all of your assets.

    • Trading Derivatives exposes you to credit risk. This is the risk that one or more of your counterparties have deposited insufficient collateral into their account such that you may not receive some or all of the cryptocurrency they owe you.

    • Trading Derivatives exposes you to liquidity risk. This is the risk that you suffer a loss because you cannot close out a Derivatives position because there is no demand to take the other side of that trade.

    • Trading Derivatives exposes you to platform parameters risk. This is the risk that you suffer a loss because we have had to change parameters on the platform such as the margin requirements.

    • Trading Derivatives exposes you to operational risk. This is the risk that you suffer a loss because of a malfunction of the Trading Platform, for example resulting from scheduled or unscheduled downtimes, matching system failure, database failure, cryptocurrency transfer or storage failure, failure or malfunction of the Application Programming Interface (“API”), hacker attacks or other failure or malfunction.

    • Trading Derivatives exposes you to regulatory risk. This is the risk that you suffer a loss because we have to restrict or terminate elements of our service in response to regulatory action.

1. Definitions and Interpretation

1.1. The following definitions are applicable to the terms of this Agreement:

  • “Confirmation” means written confirmation (including email or other electronic means from which it is possible to produce a hard copy) of the specific terms of a Transaction entered into by you pursuant to the Derivatives Trading Services.

  • “Derivatives” means any digital currency derivative instruments that we may allow at our sole discretion to be traded on the Trading Platform, including any Perpetual Futures Contracts.

  • “Derivatives Trading Rules” shall have the meaning given to it in Clause 2.1 of this Agreement.

  • “Derivatives Trading Services” means all services relating to Transactions in Derivatives, in each case whether provided through the Trading Platform or otherwise.

  • “Digital Assets” means a digital representation of value or rights which may be transferred and stored electronically, using distributed ledger technology or similar technology, including, but not limited to, cryptocurrencies, stablecoins, non-fungible tokens and any other digital asset.

  • “Insurance Fund” shall have the meaning given to it in Clause 4.1.6 of this Agreement.

  • “Initial Margin” in respect of a Transaction, shall be the minimum amount of Margin that we may from time to time in our sole discretion determine is required to be deposited in your Account in order to open a leveraged position in respect of that Transaction.

  • “Liquidation” shall have the meaning given to it in Clause 4.1.5 of this Agreement.

  • “Liquidation Price” means, in relation to an open position maintained in Derivatives, the price at which liquidation occurs that is calculated by us in our sole and absolute discretion.

  • “Loss” means any and all losses, damages, costs, charges and/or expenses, including, but not limited to, legal fees on a full indemnity basis, cost of funding, losses or costs incurred as a result of the terminating, liquidating or re-establishing of any hedge or related trading position, loss of profit, loss of revenue, loss of opportunity, consequential, unforeseeable, special or indirect damages or expenses.

  • “Maintenance Margin” in respect of a Transaction, shall be the amount of Margin that we may from time to time in our sole discretion determine to be required to keep the relevant leveraged position in respect of the applicable Transactions open.

  • “Manifest Error” means any error, omission or misquote (whether an error of ours or of any third party) which is manifest or palpable, including a misquote by any representative of us taking into account the current market and currently advertised quotes, or any error or lack of clarity of any information, source, commentator, official, official result or pronunciation. The fact that you may have entered into, or refrained from entering into, a corresponding financial commitment, contract or trade in reliance on a Transaction entered into through the Derivatives Trading Services (or that you have suffered or may suffer any loss whether direct, indirect, consequential or otherwise) is deemed irrelevant as a factor and shall not be taken into account in determining whether a situation amounts to a Manifest Error.

  • “Margin” in respect of Transactions means any Digital Assets of the type that we have specified as satisfying Margin Requirements, that are deposited with or held by or on behalf of us in your Account as security or credit support for your obligations under such Transactions.

  • “Margin Balance” means the sum, from time to time (as determined by us in our sole discretion) of: (i) Margin held in your Account; and (ii) any Unrealised P/L connected to your Account. Information relating to your Margin Balance from time to time is made available through the Trading Platform.

  • “Margin Requirements” means any Initial Margin and/or Maintenance Margin required to open and/or maintain a position with respect to a Transaction, as specified by us on our Guides and/or the Trading Platform, in our sole discretion from time to time.

  • “Mark Price” in respect of Perpetual Futures Contracts, means the fair market value of the relevant Perpetual Futures Contract, as calculated by us in our sole discretion.

  • “Perpetual Futures Contracts” means futures contracts (which we allow to be traded on the Trading Platform) without a set expiry date. Accordingly, Perpetual Futures Contracts can be held indefinitely, unlike a traditional futures contract that has an expiry date.

  • “Remaining Margin” in respect of a Transaction, means the sum of the Initial Margin and the Unrealised P/L of a given Transaction.

  • “Unrealised P/L” means (i) profits that have not yet been realised; or (ii) the losses that have not yet been realised, in each case with respect to open Transactions before closure or expiry.

1.2. The headings of each provision in this Agreement are inserted for convenience only and shall not affect the construction of this Agreement. Expressions in the singular form shall include the plural and vice versa, and all references to the masculine genders shall include the female and neuter genders and vice versa.

1.3. The words “include” or “including” shall be deemed to be followed by “without limitation” or “but not limited to” whether or not they are followed by such phrases or words of like import, and “otherwise” shall not be construed as limited by words with which it is associated.

2. Derivatives Trading Rules and provision of the Derivatives Trading Services

2.1. By accessing your Account and using the Derivatives Trading Services, you agree to be bound by (i) the terms of this Agreement; (ii) the Terms of Use; and (iii) any rules that apply in relation to the Derivatives Trading Services provided by us from time to time (the “Derivatives Trading Rules''). The Derivatives Trading Rules shall include, without limitation, any applicable Guides, terms of service, and/or trading protocols that we determine to form part of this Agreement in our sole and absolute discretion (as available here or on such other webpage as notified by us from time to time).

2.2. You acknowledge and agree that the Derivatives Trading Rules shall supplement and form part of this Agreement and the Terms of Use. In the event of any direct conflict between the provisions of any of the Derivatives Trading Rules and the provisions of this Agreement, the provisions contained in such Derivatives Trading Rules, as they relate to the relevant Derivatives Trading Service(s) referred to therein, shall control.

2.3. We may, from time to time, amend the Derivatives Trading Rules in our sole discretion, including, but not limited to, amending the trading pairs available as part of the Derivatives Trading Services and the leverage available for particular Transactions.

2.4. Nothing in this Agreement or otherwise obliges us to provide any Derivatives Trading Services to you and we may change, suspend, terminate, restrict or discontinue any of the Derivatives Trading Services or any information, features or functions available through the Trading Platform, and may delist any Digital Asset trading pairs from the Trading Platform either temporarily or on a permanent basis, in each case, at any time in our sole and absolute discretion, without providing any reason or any Notice to you thereof.

2.5. Nothing contained on the Trading Platform is to be construed as an offer, an invitation to offer or a recommendation to enter into any Transaction (in each case, from us) which can be accepted by you to create contractual obligations without further action by us. You acknowledge that no advice is provided by us to you with respect to your use of the Trading Platform (including, without limitation, advice relating to the execution of any transaction, or any legal, tax or accounting advice regarding the suitability or profitability of any security, investment or transaction). You also acknowledge that the Trading Platform provides you with information which is general in nature, and that such information shall not be construed as financial advice from us to you, or as an offer, solicitation or recommendation of securities or other financial products from us to you. Such information is not personalized or in any way tailored to reflect your particular investment objectives, financial situation or needs. You acknowledge that any transaction(s) or products(s) available on the Trading Platform may not be appropriate for all investors and that you should take steps to ensure that, before entering into any transaction, you fully understand the transaction and have made an independent assessment (and/or have sought third party advice from your own advisors) of the appropriateness of the Transaction(s) in light of your own objectives and circumstances (including the possible risks and benefits of entering into such Transaction). If you decide to enter into any Transaction, you shall do so in reliance on your own judgement.

2.6. You acknowledge that there are legal requirements in various countries which may restrict the products and services that we can lawfully provide in connection with the Derivatives Trading Services. Accordingly, some products and services and certain functionality within the Trading Platform may not be available or may be restricted in certain jurisdictions or regions or to certain users. You shall be responsible for understanding and observing any restrictions and/or requirements imposed with respect to the access to and use of the Trading Platform and the Derivatives Trading Services in each jurisdiction from which the Trading Platform and the Derivatives Trading Services are accessed by you or on your behalf. We reserve the right to change, modify or impose additional restrictions with respect to the access to and use of the Trading Platform and/the Derivatives Trading Services from time to time in our sole discretion without Notice.

3. Perpetual Futures Contracts - Orders

3.1. To enter into a Transaction, provide any instructions with respect to a Transaction, “flipping” a long position to a short position (and vice versa), or close-out any open position (including any partial close-outs of an open position) with respect to a Transaction, you may do so by placing a relevant Order on the Trading Platform in accordance with clause 9 of the Terms of Use.

3.2. In the event that we assume the role of the counterparty to any Transaction, we shall be entitled to all gains, profits and benefits derived from such Transaction.

3.3. Nothing in this Agreement or otherwise obliges us to accept any Order or enter into any Transaction with you, and we may refuse to enter into any Transaction, accept or otherwise act on any Order without giving any reason or any Notice to you.

3.4. We are entitled to rely on, and you are bound by, all Orders submitted and Transactions executed through your Account on the Trading Platform. You are solely responsible for any Order made through the Trading Platform, including to ensure that your Order is properly submitted and has been executed by the Trading Platform. You further acknowledge and agree that the Trading Platform and Our Services are provided “as is” and without warranty as to their features, functionality or operation. In particular, by using Our Services you specifically accept the risk that there could be interruption of service or delays in service, and that we shall not be liable to you for any alleged or actual interruption or delay in Transactions on our Trading Platform.

3.5. We retain the right to refuse to act in accordance with any Order which purports to dispose of or deal with any Digital Assets which are not held in any Account or which purports to violate any Applicable Law.

3.6. We shall not be liable for any Loss or other liability whatsoever incurred by you or any third party which arises from or in connection with any failure by us to comply with any of your Orders or from any exercise by us of (or failure by us to exercise) any discretion, power or authority conferred upon us under this Agreement. Further, we shall not be liable for any Loss or other liability incurred by you or any third party which arises from or in connection with any failure or delay in the transmission of, or any wrongful interception of, any Order submitted through any equipment or system, including any equipment or system owned and/or operated by or on behalf of us.

3.7. We may implement certain trading risk controls to the Derivatives Trading Services from time to time based on certain thresholds and criteria. Such risk control measures may include, without limitation, (i) taking such actions deemed necessary by us in accordance with clause 12 of the Terms of Use; (ii) adjusting any risk matrices in accordance with market situation; and (iii) prohibiting transfers, trading, and other operations for high-risk users. We reserve the right to update our risk control measures from time to time, subject to factors such as (but not limited to) market conditions.

4. Margin Balance, Margin Calls and Liquidation

4.1. Without prejudice to the generality of clause 12 of the Terms of Use, unless otherwise directed by us:

  • 4.1.1. You agree to allocate the required Initial Margin to your Account in accordance with clause 12.8 of the Terms of Use before entering into any Transaction. If you do not allocate the required Initial Margin to your Account, you will not be permitted to enter into a Transaction;

  • 4.1.2. You agree to maintain sufficient Maintenance Margin at all times for outstanding Transactions. You acknowledge and agree that it is your sole responsibility to monitor the Margin Balance of your Account and applicable Margin Requirements from time to time, particularly in (but not limited to) periods of high volatility, in order to avoid Liquidation. If you fail to meet the relevant maintenance margin requirements, we shall be entitled to exercise any of our rights in accordance with clause 12.12 of the Terms of Use;

  • 4.1.3. We may amend the maximum leverage, Initial Margin and/or Maintenance Margin requirements with respect to Transactions from time to time in our sole discretion;

  • 4.1.4. You acknowledge that we calculate the profit and loss of your open positions in Perpetual Futures Contracts based on a proprietary model and that we have the sole discretion to choose and amend the specification of such proprietary model in order to reflect our view of the fair market price of the Perpetual Futures Contracts at the relevant time;

  • 4.1.5. With respect to open positions in Perpetual Futures Contracts, you acknowledge that if the Mark Price of the relevant position hits the Liquidation Price, we will automatically close out the relevant position (“Liquidation”). We are not required to provide Notice before commencing Liquidation and a liquidation fee will be imposed on your Account balance of an amount equivalent to half of the Maintenance Margin for the Liquidated position (“Liquidation Fee”);

  • 4.1.6. If the Remaining Margin on the relevant Liquidated position is a sum greater than the Liquidation Fee, the difference between the Remaining Margin and the Liquidation Fee shall be deposited into an Insurance Fund maintained by us. For the purposes of this Clause 4, “Insurance Fund” means a fund established by us with the primary purpose of limiting the occurrences of counterparty liquidations;

  • 4.1.7. If the Remaining Margin on the relevant Liquidated position is less than the Liquidation Fee, the Insurance Fund will be used to offload the relevant Liquidated position;

  • 4.1.8. To the extent that the Insurance Fund is unable to accept any Liquidated positions (due to, but not limited to, extreme market volatility and/or depletion), counterparty liquidation will occur and we may close a profitable position in accordance with clause 12.17 of the Terms of Use to limit other customers’ losses on the Trading Platform;

  • 4.1.9. You acknowledge and agree that we may apply the Insurance Fund for any purposes we deem necessary in our sole discretion, including but not limited to, managing market volatility or managing losses from Liquidation processes; and

  • 4.1.10. You acknowledge and agree that whilst the Margin Balance of your Account takes into account the value of Digital Assets allocated as Margin to your Account together with any Unrealised P/L and Unrealised P/L is relevant for determining Margin Calls, you shall not have any claim with respect to any Unrealised P/L and shall not be entitled to request the withdrawal of any Unrealised P/L.

4.2. As Digital Asset markets are open 24 hours a day, 7 days a week, Margin Calls and Liquidations may occur at any time, including outside of normal business hours. You further agree and acknowledge that the prices of Digital Assets are volatile and may experience sharp declines in value, from time to time, which could contribute to triggering Margin Calls and/or Liquidations.

4.3. We shall be entitled (but shall not be obliged) to make Margin Calls to you in respect of your Transactions in accordance with clause 12.10 of the Terms of Use. Any failure to satisfy a Margin Call or any failure to otherwise maintain sufficient Margin in your Account may lead to your positions being subject to Liquidation and/or to exercising our rights as set out in clause 12.12 of the Terms of Use.

4.4. In no event shall we be liable to you for any Losses or damages incurred by you in relation to any alleged or actual omission or delay in the sending of any Margin Call, or as a result of any contents included or omitted from the Margin Call.

5. Termination

5.1. Without prejudice to clause 22 of the Terms of Use, we shall be entitled to impose restrictions on your Account, or to immediately suspend and/or terminate your Account and/or any Transactions without Notice if any of the following events occur:

  • 5.1.1. any representation, warranty, agreement or undertaking made by you to us whether under or in connection with this Agreement (including without limitation Clause 7 of this Agreement, the Derivatives Trading Rules, the Terms of Use) or otherwise, or any other material statement made by you in or in connection with the same is untrue, inaccurate, incomplete or misleading in any respect at the time when made by you or thereafter at any time becomes untrue, inaccurate, incomplete or misleading in any respect and you fail to inform us of the true position as soon as reasonably practicable;

  • 5.1.2. you have failed to comply with or perform any of your obligations in this Agreement, whether in respect of your Account, any Transaction or otherwise, or under the Derivatives Trading Rules and/or you have failed to comply with or perform any obligation under the Terms of Use, or any other agreement with us relating to services provided by us (including without limitation your failure to make, when due, any payment or delivery required to be made by you under this Agreement, the Terms of Use or otherwise);

  • 5.1.3. you fail to promptly provide us with any documentation requested for the purposes of any: (i) “know your customer” checks, including, without limitation, documentation required for the purposes of verifying your identity, place of address, legal authority/capacity and client classification status and/or (ii) credit checks, anti money laundering requirements or any other internal assessments conducted by us and/or we determine that you have failed to successfully pass or otherwise satisfy any “know your customer” checks, credit checks, anti money laundering requirements or any other internal assessments conducted by us;

  • 5.1.4. (in the event that you are an individual), you become deceased or bankrupt, or you have commenced an action (or have any action commenced against you) to place you into bankruptcy or personal insolvency or you are otherwise unable to pay your debts as and when they fall due;

  • 5.1.5. (in the event that you are acting on behalf of a partnership) any of the partners thereof has become deceased or bankrupt, or such partners have commenced an action (or have any action commenced against them) to place them into bankruptcy or personal insolvency or are otherwise unable to pay their debts as and when they fall due or if any action is commenced to dissolve the partnership;

  • 5.1.6. (in the event that you are acting on behalf of a corporation) the corporation is unable to pay its debts as and when they fall due, or an action is commenced to place the corporation in insolvency, judicial management, receivership, administrative management, or any similar or analogous proceedings;

  • 5.1.7. any investigation, claim, action or proceeding of any nature is commenced against you (including without limitation investigation into suspected market abuse, manipulation or other criminal conduct), you have breached Applicable Laws, or steps are taken by any person to enforce any security interest against you;

  • 5.1.8. you convene a meeting of your creditors or propose or make any compromise or arrangement with, or any assignment for the benefit of, your creditors;

  • 5.1.9. we have reasonable concerns in relation to your creditworthiness, financial status or the verification of your identity (including, without limitation, any verification of your place of residence or place(s) from which you are accessing the Derivatives Trading Services);

  • 5.1.10. we determine in our sole and absolute discretion that you have acted in an abusive manner to any of our representatives;

  • 5.1.11. we reasonably believe that any of the circumstances set out under this Clause 5.1 are likely to occur; or

  • 5.1.12. a credible allegation of fraud, misconduct, embezzlement, money laundering, insider trading, market manipulation abuse or other material illegality, breach of regulation or impropriety is made against you (whether by us or a third party) or we otherwise reasonably believe that you have used the Derivatives Trading Services with improper intent, which we determine, acting in good faith and in a commercially reasonable manner, could reasonably result in reputational harm to us, compromise the integrity of the markets maintained by us and/or result in losses being sustained by other users of our Trading Platform.

5.2. To the extent permitted under Applicable Law, you will be responsible for any reasonable costs and expenses of collection of any unpaid deficiency in your Account including, but not limited to, legal fees incurred and payable or paid by us, and you shall be responsible for any other reasonable costs and expenses incurred by us in exercising any of our rights under this Clause 5.

6. Statements and Confirmations

6.1. You shall verify all statements and/or Confirmations with respect to (i) your Account; and (ii) Transactions entered into, that are provided by us to you from time to time, as against your own records. Any and all objections by you shall not be valid unless accompanied by supporting evidence. If no objection is raised by you within 7 days of the date of the relevant statement or Confirmation (or such other time period set out in such statement or Confirmation), such statement or Confirmation shall (in the absence of Manifest Error or clear evidence to the contrary) be deemed conclusive and binding as against you, and you shall not be entitled to object thereto. Notwithstanding the foregoing, we may (but we are not obliged to) at any time in our sole discretion choose to rectify any error on any entry, statement or Confirmation which has been proven to its satisfaction to be incorrect, and may demand immediate repayment from you of any Digital Assets erroneously transferred to you as a result of any error. We do not make any representations or warranties regarding the availability, accessibility, accuracy, currency or completeness of any information contained in any statement or Confirmation provided by us or otherwise presented on the Trading Platform.

6.2. You shall immediately notify us if a statement or Confirmation is not received by you within the usual time frames provided in the ordinary course of business or your use of our services.

6.3. Subject to the provisions of this Clause 6, a Confirmation which does not accurately reflect the relevant Transaction entered into via the relevant Trading Platform:

  • 6.3.1. does not affect the validity of the Transaction which the Confirmation evidences; and

  • 6.3.2. where there is Manifest Error, does not entitle you to enforce whatever is inaccurately recorded in the Confirmation.

6.4. We reserve the right to void, cancel or reverse any Transaction involving or deriving from a Manifest Error or to amend the details of such Transaction to reflect what we reasonably consider to be the correct or fair details of such a Transaction.

6.5. Without prejudice to the generality of the other terms in this Agreement, and in the absence of fraud or bad faith on our part, we shall in no circumstances be liable to you for any Loss or demand of whatsoever nature which you may suffer or incur in connection with any Manifest Error howsoever arising, whether such Loss or demand is direct or indirect, special or consequential (including, but not limited to, loss of profit, loss of opportunity, in each case, notwithstanding that we may be been advised of the possibility of the same arising or that the same was reasonably foreseeable).

7. Representations, Warranties, Agreement and Undertakings

7.1. You represent, warrant, agree and/or undertake (as applicable) that:

  • 7.1.1. you have full capacity and authority, and you have obtained (and will maintain) and are in compliance with all necessary authorisations, consents, licences or approvals (whether under Applicable Law or otherwise) required to: (i) accept and agree to the terms of this Agreement; (ii) receive the Derivatives Trading Services; (iii) enter into Transactions; (iv) open, maintain and/or continue to maintain an Account; (v) transfer or allocate Margin to Transactions; and (vi) issue Orders on our Trading Platform;

  • 7.1.2. you have made your own independent decision to: (i) accept the terms of this Agreement; (ii) open and maintain an Account; (iii) receive the Derivatives Trading Services; (iv) enter into Transactions from time to time; and (v) determine that the Derivatives Trading Services and Transactions are suitable or appropriate for you or the entity for whom you are acting, based on your own judgment and/or advice from your advisors.

  • 7.1.3. you are not relying on any communication (whether written or oral) from us: (i) as investment advice; (ii) as a recommendation to enter into any Transaction; or (iii) as an assurance or guarantee of any expected results of a Transaction;

  • 7.1.4. you have read and understood the Derivatives Trading Rules and accept the conditions and limitations for each service available to you in connection with the Derivatives Trading Services;

  • 7.1.5. you are not: (i) an employee of any governmental or self-regulatory organization in any jurisdiction, including any exchange or a member firm thereof; (ii) engaged in the business of dealing (either as agent or principal), which prohibits you from establishing a relationship with us; or (iii) otherwise engaged in the business of dealing in any of the Digital Assets traded in connection with your Account, and you shall, in each case, promptly notify us if you become so employed or engaged;

  • 7.1.6. you do not reside in the Prohibited Jurisdictions as set out in Terms of Use, or in any other jurisdictions in which we have restricted the offering of any service provided under this Agreement;

  • 7.1.7. except with our express written consent, no person other than you has an interest in your Account;

  • 7.1.8. except with our express written consent, no person has or will have any security or other encumbrance over your Account and/or any Digital Asset held in your Account, other than any security or encumbrance created in this Agreement or the Terms of Use;

  • 7.1.9. any Order placed or any other dealings with respect to your Account is solely and exclusively based on your own judgement, independent appraisal and investigation into the risk associated with such Orders, as well as your independent determination of the Order being specifically suitable to you based on your own assessment of your financial resources, financial objectives and ability and willingness to take relevant risks;

  • 7.1.10. we shall not be under any duty or obligation to inquire into the purpose or propriety of any Order and shall be under no obligation to accept or execute any Order;

  • 7.1.11. any person(s) empowered to act on your behalf have been duly authorised;

  • 7.1.12. you have complied and shall comply with all Applicable Laws in all jurisdictions relevant to your Account, any Transaction or other service or facility provided or made available by us to you;

  • 7.1.13. all information and/or documents provided by you or on your behalf to us in connection with the services contemplated under this Agreement are true, accurate, complete and not misleading in any and all respects, and nothing has been concealed from us which may have a material effect on our decision to provide or continue to provide any of the services under this Agreement; and

  • 7.1.14. you shall not knowingly or recklessly permit the use of our services, facilities or membership in a manner which may, in our opinion, bring us into disrepute, impair the dignity or degrade our good name. You shall not knowingly or recklessly create or maintain or exacerbate manipulations (or attempted manipulations), corners (or attempted corners) or violate any Applicable Laws (or arrangements, provisions or directions made or given thereunder), or otherwise act in a manner which is substantially detrimental to our interests or welfare or any of our other users.

7.2. The above representations, warranties, agreement and undertakings shall be deemed repeated whenever you place any Order, enter into any Transactions or log in to the Trading Platform.

8. General Indemnity

8.1. In addition and without prejudice to any other right or remedy we may have under Applicable Laws, the Terms of Use or otherwise, you shall at all times indemnify, keep indemnified, and hold us harmless from and against any and all Loss suffered or incurred by us arising (whether directly or indirectly) out of, in the course of or in connection with:

  • 8.1.1. any failure by you to comply with any provision of this Agreement or Applicable Laws;

  • 8.1.3. our acting in accordance with your Orders or in any manner permitted under this Agreement and/or the Terms of Use;

  • 8.1.3. any changes in any Applicable Laws that impact the provision of the Derivatives Trading Services to you (or use thereof); and/or

  • 8.1.4. any act or thing done or caused to be done by us in connection with or referable to this Agreement, the Terms of Use or your Account.

8.2. You shall further indemnify, keep indemnified and hold us harmless from any and all expenses, costs and legal fees (on a full indemnity basis) incurred, including but not limited to expenses, costs and legal fees incurred for producing records, and information, or payment made (whether such payment is or is to be made in settlement of any proceedings or in connection with any ruling, judgement, order or award) by any of them in connection with any investigations or proceedings (whether legal, regulatory, arbitration or other proceedings) brought against us in connection with Clause 8.1 above. You shall provide any and all reasonable assistance to us in connection with such investigations or proceedings.

9. General Exclusion

9.1. Derivatives trading is not suitable for everyone. You should examine your investment objectives, financial resources and risk tolerance to determine whether borrowing against your assets held with us is appropriate for you. You acknowledge that Derivatives trading with respect to Digital Assets is a highly speculative activity involving highly leveraged and rapidly fluctuating markets. You further understand and accept the significant risks associated with the use of Margin and leverage and have determined that the use of Margin and/or leverage is consistent with your investment objectives. Despite such risks, you acknowledge, understand and agree that you are willing and able to assume the financial risks and other hazards of Derivatives trading with respect to Digital Assets and agree that you will in no manner hold us responsible for Losses incurred by you under or in connection with this Agreement, the Derivatives Trading Rules, the Terms of Use or otherwise. You acknowledge that trading in Derivatives involves the potential for profit as well as the risk of losing substantially more than your initial capital. You do not own or have any rights to the underlying instruments, which include Digital Assets and any rewards or yields generated from such Digital Assets.

9.2. In addition and without prejudice to any other right or remedy which we may have under this Agreement, the Derivatives Trading Rules, the Terms of Use, Applicable Laws or otherwise, we shall not be liable to you in any respect for any Loss suffered by you if we have acted in good faith. We shall only be liable to you if a court of competent jurisdiction has determined that we have been fraudulent or acted in wilful default.

9.3. Notwithstanding anything in this Agreement, we shall not be liable to you for any indirect or consequential Loss, or for any loss of anticipated profits or any punitive damages.

10. Applicable Laws

Your relationship with us, the operation of your Account and the Trading Platform, the provision of the Derivatives Trading Services and the implementation of any Transaction shall be subject to Applicable Law. We may take or refrain from taking any action whatsoever, and you shall comply with, and shall do all things required by us in order to procure or ensure compliance with all Applicable Law. You agree that we shall not be liable to you as a result of any action taken to comply with any Applicable Law.