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Home » Announcements » OKEX Terms of Service (Terms) Add New Post

OKEX Terms of Service (Terms)

Moderator published on OKCoin Announcements Announcements 2017-05-27 16:09 947
PLEASE READ THESE TERMS OF SERVICE (TERMS) CAREFULLY. BY CLICKING THE "CREATE ACCOUNT" BUTTON OR BY ACCESSING OR USING THE SERVICES, 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.
OKEX reserves the right to change or modify the terms and conditions contained in these Terms, including but not limited to any policy or guideline of the Site, at any time and at its sole discretion. We will provide notice of these changes by posting the revised Terms to the Site and changing the "Last Revised" date at the top of the Terms, or by emailing users at their provided email addresses, or by any other means as determined by OKEX at its sole discretion.  Any changes or modifications will be effective immediately upon posting the revisions to the Site or at the instant that OKEX transmits the information. These changes will apply at that instant to all then current and subsequent uses of the Site. You waive any right you may have to receive specific notice of such changes or modifications. Your continued use of this Site acts as acceptance of such changes or modifications. If you do not agree to the Terms in effect when you access or use the Site, you must stop using the Site.  We encourage you to frequently review the Terms to ensure you understand the terms and conditions that apply to your access to, and use of, the Services. If you have any question regarding the use of the Site, please contact [email protected]
These Terms and any terms expressly incorporated herein apply to your access to, and use of, any services provided by OKEX Technology Company Limited (“OKEX,” “we,” “us” or “our”), and , including but not limited to our websites located at https://www.okex.com (the “Site”) and mobile applications and the exchange services provided by us as described in these Terms (collectively, the “Services”). These Terms do not alter in any way the terms or conditions of any other agreement you may have with OKEX for products, services or otherwise. If you are using the Services on behalf of any 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 these Terms on such entity’s behalf and that such entity agrees to be responsible to us if you violate these Terms.
OKEX Technology Company Limited operates https://www.okex.com and is a digital asset-only  virtual trading platform incorporated under the International Business Companies Act Chapter 270 of the Laws of Belize, Revised Edition 2000, of Belize City, Belize with a company number of 166,480.
I.           ELIGIBILITY AND PROHIBITION OF USING OUR SERVICES
The Services are intended solely for users who are 18 or older. By accessing or using our Services, you represent and warrant that you are at least 18 years old and have not previously been suspended or removed from the Site or Services. You also represent and warrant that you are not on any trade or economic sanctions lists, such as the United Nations Security Council Sanctions List, nor restricted or prohibited from engaging in any type of trading platforms by the International Financial Services Commission of Belize. Also, OKEX 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 Cuba, Iran, North Korea, Syria, Sudan, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, and United States of America. As a result, if you do not meet these eligibility requirements, do not use our Services.  
II.         DESCRIPTION OF OUR SERVICES
We provide an online digital asset-only trading platform to trade spot, futures and other derivatives of digital assets (or also known as cryptographic tokens or digital tokens or cryptographic currency) and facilitate margin lending.  Traders conduct trading on our platform with each other; OKEX as the platform provider is not a buyer or seller in these trades.  Traders must open an account and upload digital assets prior to commencement of trading.  OKEX does not accept fiat currencies nor settle in fiat currencies, hence we are a digital asset-only trading platform.  Traders may request the withdrawal  of their digital asset at anytime, subject to the limitations as stated in the Terms.
While OKEX has made every effort to ensure the accuracy of the information on our website, the information and content on the website is subject to change without notice and is provided for the sole purpose of assisting users to make independent decisions. OKEX has taken reasonable measures to ensure the accuracy of the information on the website; 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 website, 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 Web site, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through our platform.  OKEX will not have any liability for the use or interpretation of such information.
Users shall prepare devices and bear costs as follows: 1) internet-connected device, including but not limited to computer or other internet-connected terminals; 2) internet-accessing costs, including but not limited to internet fees, rental charges for internet-connected equipments, cellular data fees, etc.
While using the Services, you accept the information services provided by OKEX. You hereby authorize OKEX to send commercial information to you via e-mail, SMS, mailing address. You can opt out such services by changing relevant settings on the website.
You acknowledge and consent that the Services are provided by OKEX according to its current technological capacity and other conditions. While OKEX has 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, flaw in third-party services, act of government, etc. that may result in service interruption, data loss and other losses and risks.
Fees may be incurred for part of the Services provided by OKEX to its users. You shall abide by relevant agreements while use such services. OKEX may change the fee models and structures of such services as the case may be. OKEX may also start charging fees on free services. We shall release an announcement or put up a notice on respective page before the above mentioned changes, modifications are made and starting to charge. You shall stop using the service if they disagree on the above mentioned changes, modifications or paid content.
OKEX shall not ask for any password from its users, nor shall we ask users to transmit any funds, bitcoins and litecoins to bank accounts, bitcoin and litecoin addresses that are not listed on the trading platform. Please do not trust any discount or promotion related information. OKEX shall not be responsible for any losses caused by transmitting funds, bitcoins and litecoins to bank accounts, bitcoin and litecoin addresses that are not listed on the trading platform.
Transaction abnormity handing: While using the Services, you agree 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. OKEX does not assume any responsibility of any losses caused by the above mentioned situations due to users providing incorrect information that results in the inability for OKEX to reach out to its users and explain the handling procedures.
You agree, in accordance with operational and security needs, OKEX may suspend or restrict part of the Services, or start providing additional services. By continuing using the Services, after any changes, additions and deductions of the Services, you continue to agree to the Terms and any other Terms added subsequently.
III.        RISKS OF TRADING DIGITAL ASSETS
Trading of digital assets involves significant risk.  The risk of loss in trading or holding digital assets can be substantial. You should therefore carefully consider whether trading in digital assets or any levered or derivative digital assets is suitable for you in light of your financial condition.
OKEX believes that digital assets should not be called money nor fiat currency, as they are NOT  backed by any government or central bank.  There is no assurance that the OKEX trading market for digital assets will be orderly and stable.  You should exercise prudence in trading in digital assets (as well as any other assets).  Prices can and do fluctuate on any given moment.  Due to such price fluctuations, you may increase or lose value in your assets at any given moment.  Any digital asset or trading position may be subject to large swings in value and may even become worthless.
2. the use of the service, if the user or user's transaction instructions error (including but not limited to price, quantity and other factors),which cause the user's transaction loss, if it is not the reasons for the trading rules of this platform, then the user own the responsibility of loss.
3. The use shall bear any loss resulted in his/her own fault or error, including but not limited to: not in accordance with the transaction prompts operation, not timely trading operations, forgetting or leakage of passwords, passwords are cracked, the user's computer is invaded by others.
4. In the use of the service, if because there is some potential loophole in the trading rules which has not been discovered, which makes the user to get some unjust enrichment, we will contact the user to recover it, the user must effectively cooperate, or we will take actions, including, but not limited to restrictions on account transactions, freezing account funds, to  prosecute the user in a court with right of jurisdiction and other recourse measures, because the user does not effectively cooperate with the OKEX, and the recourse costs will also be borne by the user.
 
IV. CREATING AN ACCOUNT
In order to use any of the Services, you must first register by providing your name, e-mail and password, along with affirming this Terms of Service.  You agree to not enable anyone to use or direct your account, and to update OKEX of any information change or if your account has been compromised. You are responsible for keeping, protecting and safeguarding any keys, certificates, passwords, access codes, user IDs or other credentials and login information (collectively "Passwords") that have been provided to you or that are generated in connection with your use of the Services. If you lose your Passwords, you may not be able to access your account. You agree to notify OKEX immediately of any unauthorized use of your Passwords. OKEX will not be responsible for any liabilities, losses, or damages arising out of the unauthorized use of your Passwords. Due to OKEX’s nature of being a trading platform, and to avoid potential security risks, the login password, administration password and any other passwords shall not be set in a same one. Relevant responsibilities shall be borne by the users.
Users who lost their passwords can reset it after being verified through their resigered email addresses or phone numbers. You shall immediately report to OKEX if any unauthorized operations or security breaches are found.
V. USERS’ RIGHT AND LIMITATIONS TO LICENSE USE
We grant you a limited, nonexclusive, nontransferable license, subject to these Terms, to access and use the OKEX website and Services, solely for approved purposes as permitted by OKEX.  You agree you will not copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the OKEX’s content.
You agree that
1. All right, title and interest in the Services and associated software, website and technology, including all intellectual property rights therein, are and shall remain with OKEX;
2. No right or interest in the Services is conveyed other than the limited licenses granted herein; and
3. The Services are protected by the copyright and other intellectual property laws. All rights not expressly granted in these Terms are reserved.
4. This website has the right to inquire, freeze or deduct the items and accounts of the user in according to the requirements of the judicial organs, administrative organs and military organs, including but not limited to public security organs, procuratorial organs, courts, customs, tax authorities and so on.
5. Users have the right, in according to the relevant provisions of the site, after the release of information and other contributions, to obtain OKEX’s reward;
6. The user has the right to modify the individual account and the information, choose their own nickname and enter the introductory text, to decide whether to provide non-essential items of content;
7. Users have the right to participate in OKEX’s online and offline activities;
8. Users have the right to enjoy OKEX’s other types of services according to OKEX website requirements.
9. If you disagree or are unsatisfied on the changes of the Services, you shall exercise the rights below:
(1) Stop using the Services;
(2) Require termination of the Services OKEX provided to you through customer support or other channels. After termination, your right to use the Services shall be terminated. Under such circumstances, OKEX is no longer obligated to deliver any unprocessed information or unfinished services to its users or any other third parties without direct relationship.
 
VI. USER OBLIGATIONS
1. User shall not use OKEX to endanger national security, disclosure of state secrets, shall not violate the national community and the legitimate rights and interests of citizens, shall not use this site to produce, copy and disseminate the following information:
(1) incitement to resist, undermine the implementation of constitution, laws and administrative regulations;
(2) inciting subversion of state power and overthrowing the socialist system;
(3) incitement to split the country and undermine national unity;
(4) incite national hatred, ethnic discrimination, destruction of national unity;
(5) fabricating or distorting facts, spreading rumors and disturbing social order;
(6) to promote feudal superstition, obscenity, pornography, gambling, violence, murder, terror, abetting the crime;
(7) blatantly insulting others or fabricating facts to slander others, or carry out other malicious attacks;
(8) damage to the credibility of state organs;
(9) other violation of constitutional and legal administrative regulations;
(10) to conduct commercial advertising behavior.
2. the user shall not  by any means maliciously register OKEX website account, including but not limited to profit-making, speculation, cash out, winning and so on for the purpose of multiple account registration. Users may not use other user’s accounts.
If the user violates the above requirements, the OKEX network has the right to take all necessary measures directly, including but not limited to deleting the content posted by the user, canceling the customer's star rating, honor and virtual wealth, pausing or seizing the user's account, Illegal gains, and even through the form of action to prosecute the user legal responsibility.
3. Prohibit users in any form to utilize OKEX network as the place, platform or media to engage in a variety of illegal activities. Without the authorization or permission of the OKEX Network, the User shall not use any of the commercial activities in the name of this site or in any form of the OKEX Network as a place, platform or medium for engaging in commercial activities.
If the user violates the above requirements, the OKEX network has the right to take all necessary measures directly, including but not limited to deleting the content posted by the user, canceling the customer's star rating, honor and virtual wealth, pausing or seizing the user's account, Illegal gains, and even through the form of action to prosecute the user legal responsibility.
4. All the information released in all forms by the user in OKEX network should comply with national laws and regulations and other relevant provisions of the relevant provisions of the site, in line with social order and vulgar, does not infringe the legitimate rights and interests of any third party, or the user shall bear the responsibility of all the legal consequences by themselves., and if OKEX therefore suffered losses, OKEX has the right to recover from the user.
 
VII. SERVICE FEES
1. the user to use the service, the company has the right to the appropriate rules to the user service charges. OKEX has the right to formulate and adjust the service fee, the specific service charge to the user to use the service OKEX online listed on the charges or users OKEX network to reach other written agreement shall prevail.
2. unless otherwise stated or agreed, the user agrees that the OKEX network has the right to deduct the above-mentioned services directly from the assets of the user account.
VIII. CHANGE OF SERVICE, INTERRUPTION, TERMINATION, RESTRICTION, FREEZING
1. OKEX may change the service content and/or may also interrupt, suspend or terminate the service.
2. At the time of transfer, OKEX may transfer the relevant assets under this service to the third party; OKEX may also transfer part or all of the services under this agreement to a third party to operate or fulfill after our unilateral notice. The specific transferee is subjected to OKEX’s notice.
3. In any of the following circumstances, OKEX reserves the right to discontinue or terminate the services provided to you without notice:
(1) if the personal information you have provided is not true, or inconsistent with the information at the time of registration and failed to provide reasonable proof (please remember, according to the laws or regulations you should submit the true information);
(2) if you violate the relevant laws and regulations or this agreement;
(3) if required by any provisions of the laws and regulations, as well as the requirements of the competent government authorities; and/or
(4) if for security reasons or other necessary circumstances.
4. OKEX has the right to charge any fees or outstanding due in accordance with this agreement. If you do not pay in full and on time, OKEX reserves the right to interrupt, suspend or terminate the service.
5. You may close your account at any time. You will still be obligated to fulfill your responsibilities on any pending transactions. In addition, you are responsible to OKEX for any fees incurred before the closure. OKEX may also terminate your account at any time and at our sole discretion, upon notice to you by email or other communication. OKEX may also suspend your access to the Services if it suspects that you have failed to comply with these Terms, pose an unacceptable fraud or regulatory risk to OKEX, or if you provide any false, incomplete, inaccurate or misleading information. OKEX will not be liable to you for any losses incurred in connection with OKEX's closure or suspension of your account.
6. You agree, to safeguard the security of your account and the digital assets within, OKEX reserves the rights to freeze part or all of your assets (or in other words, to restrict you from accessing part or all of the Services) under the circumstances that OKEX thinks your account is exposed to potential risks according to these Terms, laws, regulations, legal instruments, government requests dependent on administrative functions and powers and other conditions that OKEX thinks fit. The reverse process is called “unfreeze”, which means OKEX stops freezing the frozen account. OKEX reserves the right to determine whether to unfreeze partially or wholly when users request to unfreeze. You shall fully understand the request to unfreezing account may not be necessarily accepted, and before unfreezing the account, you shall cooperate with us on identity verification or other relevant requirements, and provide including but not limited to identity information, identity card, passport, other valid identity documents and other documents or information required by us.
IX. COMPLIANCE WITH YOUR LOCAL LAWS
It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. Additionally, you agree to comply with all relevant local laws of your jurisdiction.  OKEX’s business activity does not fall within the definition of an international financial service under the Belize IFSC Act and as such does not require a license given that OKEX’s customers cannot use (nor bring in) any fiat currency to purchase/trade bitcoin or any other digital assets nor can they sell or cash in their bitcoin or any other digital assets for any fiat currency on our platform.  Regarding the prevention of terrorist financing and anti-money laundering (AML), while OKEX is not a “reporting entity” under the First Schedule of the Belize Money Laundering and Terrorism (Prevention) Act, OKEX discretionarily undertakes due diligence to prevent money laundering and terrorism financing and will work with local authorities.  When using our Services, you acknowledge that your actions are in a legal and proper manner and your sources of digital assets are not from illegal activities.  OKEX may discretionarily or in coordination with local law enforcement authorities seize, restrict or close-out your account and digital assets.
X. PRIVACY POLICY
OKEX respects the privacy of its users. The OKEX Privacy Policy, available separately, describes how OKEX collects, stores, discloses and uses information that pertains to Your privacy. You consent to OKEX’s use of your information under the terms of the OKEX’s Privacy Policy.
OKEX’s users information in these Terms means information that is in compliance with laws and regulations and conforms to the following scopes.
1. Information provided to OKEX by users during account creation.
2. Automatically recorded information (including but not limited to IP address, cookies, browsing history, etc.) while users accessing the Services through website and mobile apps.
3. Information legally acquired from business partners.
4. Information acquired through other legal channels.
OKEX undertakes that we will not disclose any name, password, phone number and other information to any third party without acquiring user’s permission beforehand or legal causes.
1. User information will be partially or wholly disclosed under below circumstances accord to legal requirements.
2. Required by user, disclose to user himself/herself or other third parties; Required by administrative and judicial authorities, and other third parties as prescribed by law, according to laws and regulations;
3. Other disclosure according to laws and regulations.
XI. INDEMNITY
You shall indemnify OKEX and our agents (if any), employees, officers, directors, affiliates, subsidiaries and successors, and hold them harmless from and against all third-party claims except those resulting solely from OKEX’s breach of these Terms. Similarly, OKEX shall indemnify and hold harmless You and your agents, employees, officers, directors, affiliates, subsidiaries and successors from and against all third-party claims except those resulting solely from your breach of these Terms.
 
XII. REFUSAL TO GUARANTEE AND DISCLAIMER
1. OKEX network, as a third party platform for "network service provider", does not guarantee the information and services provided in this the site platform can fully meet the needs of users. OKEX.com shall not be liable for errors, insults, defamation, nonfeasance, obscenity, pornography, or blasphemy that may occur during the process of acceptance of the OKEX web service.
2. Based on the special nature of the Internet, OKEX network does not guarantee that the service will not be interrupted, and the timeliness of the service, security are also not guaranteed, and OKEX network do not bear the responsibility which is not caused by OKEX network.
OKEX network tries to provide a safety network environment to the users, however, OKEX network does not guarantee that the site or its servers are free of viruses or other potentially harmful factors; therefore, the user should use the industry's recognized software to check and kill any virus in the files downloaded from OKEX network.
3. OKEX network is not responsible for the failure of preservation, modification, deletion or storage of the information released by the user. Nor will OKEX network be liable for the   typographical errors, negligence, etc. not intentionally caused by OKEX network.
OKEX net has the right but no obligation to improve or correct any omission, error of any part of this site.
4. Unless the OKEX network is expressly agreed in writing, the OKEX Network shall not guarantee the accuracy, completeness, reliability of any content, such as, but not limited to, advertising from the Site in any manner( including but not limited to, containing, connecting, by way of, or downloading) from the Site; OKEX network is not responsible for any products, services, information or materials purchased or obtained by the user according to the content information on this website. The user bears the risk of using the content of this website.
5. The user comments published by users in OKEX network, are only on behalf of the user's personal point of view, it does not mean that this site agree with their views or confirm their description, this site does not bear any legal responsibility caused by any user comments.
6. OKEX has the right to delete all types of information which does not meet the requirements of the laws or agreement, and OKEX retains the right not to inform the user.
7. All notices issued to the users, OKEX network will deliver these notices through a formal page announcement, station letter, e-mail, customer service phone call, SMS or regular mail delivery. OKEX network does not bear any legal responsibility for any winning, discount activities or information which are delivered not by above channels.
8. OKEX has the right to adjust the recharge, commission, transaction and other fees according to market conditions, and have the right to decide the termination of the free promotion period.
XIII. APPLICABLE LAW AND VENUE
These Terms and your use of the Services will be governed by and construed in accordance with the laws of Belize, without resort to its conflict of law provisions. You agree that any action at law or in equity pursued by you and arising out of or relating to these Terms not subject to arbitration (as set forth below) will be filed only in Belize and you hereby irrevocably and unconditionally consent and submit to the exclusive jurisdiction of such courts over any suit, action or proceeding arising out of these Terms.
XIV. ARBITRATION
You and OKEX agree to arbitrate any dispute arising from these Terms or relating to the Services, except that you and OKEX are not required to arbitrate any dispute in which either party seeks equitable or other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents. ARBITRATION PREVENTS YOU FROM SUING IN COURT OR FROM HAVING A JURY TRIAL. You and OKEX agree that you will notify each other of any dispute within thirty (30) days of when it arises, that you will attempt informal resolution prior to any demand for arbitration, that any arbitration will occur in Belize and that arbitration will be conducted confidentially by a single arbitrator. You and OKEX also agree that the courts in Belize have exclusive jurisdiction over any appeals of an arbitration award and over any suit between the parties not subject to arbitration. In any arbitration, the parties will not seek discovery from each other, and the arbitrator shall not allow parties to engage in discovery; rather, each party shall disclose the evidence supporting their positions at some mutually agreeable time and date prior to the final hearing. Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court. Neither you nor we will participate in a class action or class-wide arbitration for any claims covered by these Terms. You also agree not to participate in claims brought in by a private attorney general or representative capacity, or consolidated claims involving another person, if OKEX is a party to the proceeding. If the prohibition against class actions and other claims brought on behalf of third parties contained above is found to be unenforceable, then that language shall be deemed to have been dropped from these Terms and the remaining obligations relating to arbitration shall continue in full force and effect.
 
XV. SEPARABILITY
If any provision of this Agreement is deemed to be unlawful, invalid or unenforceable for any reason, such provision shall be deemed to be divisible and shall not affect the legal effect of any other provision.
 
XVI. COMPLAINTS
If you have any complaints, feedback or questions, please contact our Customer Service at [email protected]  When you contact us please provide us with your name and email address and any other information we may need to identify you, and the transaction on which you have feedback, questions, or complaints.
XVII. MISCELLANEOUS
These Terms set forth the complete understanding of the parties with respect to the subject matter hereof and supersedes all prior understandings and communications relating thereto. No term or condition of any other document provided to OKEX which is different from, inconsistent with, or in addition to the terms and conditions set forth herein will be binding upon OKEX. You represent and warrant that all information disclosed to OKEX in connection with these Terms are true, accurate and complete.
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