1. Overview
1.1 The options trading service governed by this User Agreement (the "Service") is provided by OKX entities based on your onboarding as a customer under OKX Terms of Service.
1.2 This Agreement constitutes a legally binding contract between you ("User") and OKX governing Service usage. By accessing the Service, you confirm understanding and acceptance of these Terms, including OKX's right to unilaterally modify them.
1.3 These Terms incorporate by reference:
- OKX system specifications
- Related agreements/rules
- All applicable service policies and announcements
1.4 The Terms represent the entire agreement regarding Service usage between you and OKX.
1.5 These Terms supplement OKX's Terms of Service. In case of conflict, these Terms prevail.
2. Eligibility to Use the Service
2.1 You acknowledge that:
- You meet OKX Terms of Service requirements
- You have experience with high-risk crypto investments
- You can evaluate financial risks independently
- You have internet operational capability
- Your activities comply with local laws
- You legally own all deposited Digital Assets
2.2 You agree not to use the Service for:
- Illegal activities (gambling, money laundering, etc.)
- Market manipulation
- Any prohibited business activities
3. Risk Management
3.1 Risk control measures include:
👉 Tiered maintenance margin ratios
👉 Auto-deleveraging (ADL)
👉 Forced Repayment Mechanisms
3.2 OKX reserves right to cancel orders/close positions that pose systemic risks.
4. Using the Service
4.1 The Service enables:
- Options trading (buy/sell contracts)
- Margin Trading (borrowing Digital Assets)
4.2 Order execution:
- Orders placed via web/client/API are irreversible once filled
4.3 Settlement occurs automatically:
- ITM options exercised at expiration
- ATM/OTM options expire worthless
4.4 Interest accrues hourly on borrowed assets.
4.5 Forced repayment may occur if liabilities exceed limits.
4.6 OKX may liquidate Margin assets to cover deficiencies.
4.7 OKX may adjust settlement timing during market anomalies.
4.8 Standard trading fees apply to all orders.
4.9 OKX may suspend accounts violating Terms.
4.10 Margin serves as collateral for potential losses.
4.11-4.13 Leverage terms and adjustments explained.
5. Repayment and Margin Return
5.1 Early repayment permitted at any time.
5.2 Margin released upon full repayment.
5.3 OKX may deduct assets to cover obligations upon service termination.
6. Security Interests
6.1 Margin secures performance of obligations.
6.2 First-priority security interest granted to OKX.
6.3 Continuing security applies to ultimate balance.
6.4 User must execute documents to perfect OKX's security.
7. Representations and Warranties
7.1 You represent/warrant regarding:
- Margin legality and ownership
- Asset encumbrance status
- Non-infringement of OKX rights
- Sanctions compliance
- Ongoing accuracy of representations
7.2 Breach consequences include service termination.
8. Limitation of Liability
8.1 Risk disclosures include:
- "AS IS" service provision
- Digital Asset volatility
- Trading risks
- Technical/market abnormalities
- Force majeure events
8.2 User bears full responsibility for trading activities.
8.3 Receipt timing of redeemed assets may vary.
8.4 OKX may amend Terms unilaterally.
8.5 OKX not liable for service interruptions from:
- Maintenance
- Cyberattacks
- Telecom failures
- Force majeure
- Technical issues
8.6 Software protocol risks disclosed.
8.7 OKX prohibits/manages unfair trading practices.
8.8 OKX not liable for described risks.
8.9 User bears all market risks.
9. Indemnification
9.1 User must protect OKX from damages.
9.2 User agrees to defend OKX against claims.
10. No Advice Provision
OKX provides no business, legal, financial, or tax advice. Users should consult professionals.
11. Third-Party Links
Linked sites not endorsed by OKX. Users subject to third-party terms.
12. Governing Law
English/Welsh law governs these Terms.
13. Dispute Resolution
13.1 Mediation required before arbitration.
13.2 HKIAC arbitration follows unsuccessful mediation.
13.3 Hong Kong seat; 3 arbitrators.
13.4 Limited discovery permitted.
13.5 Awards final and binding.
14. Miscellaneous
14.1 Incorporated documents listed.
14.2 OKX may modify Terms unilaterally.
14.3 Formal communications via email.
14.4 Severability clause.
14.5 No waiver of rights.
14.6 Assignment terms.
14.7 Headings non-substantive.
14.8 English version prevails.
14.9 OKX has final interpretation authority.
FAQs
Q: What happens if my option expires ITM?
A: ITM options automatically exercise at expiration (08:00 UTC), with payouts credited to your account.
Q: Can OKX change leverage offered?
A: Yes, OKX reserves right to adjust leverage levels at its discretion with reasonable notice.
Q: How are disputes resolved?
A: First through HKIAC mediation, then binding arbitration if unresolved within 90 days.
Q: What risks should I consider before trading?
A: Key risks include market volatility, liquidation risks, technical failures, and regulatory changes in your jurisdiction.
Q: Can OKX modify these Terms?
A: Yes, OKX may unilaterally amend Terms with continued service use constituting acceptance.
Q: How is Margin used?
A: Margin serves as collateral for positions and may be liquidated to cover deficiencies.