Overview
The Australia Terms of Service will be amended in full on 2 July 2025. By accessing or using OKX.com, you agree to be bound by these terms. These services are available exclusively to Australian users.
Key Sections
1. About These Terms and Our Services
- The OKX Platform facilitates services provided by designated Service Providers.
Services include:
- Digital Currency Exchange (Part B)
- Derivatives Trading (Part C, for wholesale clients only)
- On-Chain Earn (Part D)
2. Contract Between Us and You
- By using the Services, you agree to these terms.
- We may update terms periodically; continued use constitutes acceptance.
3. Changes to Terms
- Changes will be communicated via email or platform notifications.
- Disagreeing with changes requires immediate cessation of Services.
Part A: General Terms
1. Eligibility
- Users must establish an Account and meet eligibility criteria.
2. Account Management
- Registration: Provide accurate, current information.
- Security: Safeguard passwords; notify unauthorized access immediately.
- Closure: Assets returned per clause 2.13 upon closure.
3. Asset Handling
- Assets are held as we deem appropriate; not protected by deposit insurance.
- Withdrawals may be withheld for unresolved disputes or liabilities.
4. User Obligations
- Comply with laws; avoid prohibited activities (e.g., commercial promotions).
- No use for Prohibited Activities (e.g., gambling, unlicensed money services).
5. Trading on OKX Platform
- Orders valid until executed or canceled.
- Derivative Trades are executed by OKX Australia Financial as counterparty.
6. Counterparty in Transactions
- Spot Services match users via Matching Service.
- Derivatives involve direct transactions with OKX Australia Financial.
7. Prohibited Activities
- Includes unlicensed financial services, adult content, and illegal goods.
- Violations may result in account suspension and reporting to authorities.
Part B: Digital Currency Exchange
18. Fiat Transactions
- Deposits/withdrawals via Third-Party Payment Providers (e.g., Bano Pty Ltd).
- Fees may apply per provider policies.
19. Crypto Conversions
- Convert Service: Fixed-rate, over-the-counter trades.
- Spot Service: Order-book matching with potential slippage.
20. Trading Bots
- Automated trading tools; user-configurable parameters.
- Risks: Market volatility, technical failures, and misconfiguration.
Part C: Derivatives (Wholesale Clients Only)
21. Overview
- Services: Futures, Options, Perpetual Swaps.
- Governed by Trading Rules (see details).
22. Key Definitions
- Derivative Trade: Contract to buy/sell VFAs (e.g., BTC, ETH) at future dates.
- Margin Trading: Requires collateral; liquidation risks apply.
23. Eligibility
- Only for Wholesale Clients (per Corporations Act).
24. Derivative Services
- Futures: Fixed-price contracts expiring on set dates.
- Options: Right (not obligation) to buy/sell at future prices.
- Perpetual Swaps: No expiry; funding fees every 8 hours.
25. Risks
- Leverage: Amplifies gains/losses.
- Liquidation: Market downturns may trigger total loss of margin.
- Counterparty Risk: Default by OKX Australia Financial.
FAQs
1. How do I close my account?
Submit a request via the platform. Pending orders must be canceled first.
2. Are my assets insured?
No. Digital assets are not covered by deposit insurance.
3. What happens if I breach terms?
We may suspend accounts or freeze assets for violations.
4. How are fees calculated?
Fees vary by service (e.g., 0.1% for Spot Trades). Details here.
5. Can I dispute a trade?
Contact Support within 48 hours of trade execution.
👉 Explore OKX Derivatives
👉 Learn about Trading Bots
Note: This document is governed by NSW, Australia law. For disputes, arbitration via HKIAC applies.
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