Futures Service Agreement
1. Introduction
This Futures Service Agreement ("Agreement") outlines the terms and conditions under which users ("User" or "You") may engage in futures trading on XchangeOn ("Platform"). By enabling and participating in futures trading, you acknowledge that you have read, understood, and agreed to be bound by this Agreement.
2. Risk Disclosure
Futures trading is a high-risk financial activity that involves significant potential for gains and losses. By engaging in futures trading, you acknowledge and accept the following risks:
- Market Volatility: Cryptocurrency markets are highly volatile. Price fluctuations can result in substantial profits or significant losses.
- Leverage Risks: Futures trading involves leverage, which can amplify both gains and losses. A small market movement can lead to proportionally larger losses.
- Liquidation Risk: In extreme market conditions, your entire margin balance may be liquidated if losses exceed your account’s available margin.
- Regulatory Restrictions: Futures trading is restricted for users in certain jurisdictions. You are responsible for ensuring compliance with local laws and regulations before engaging in futures trading.
3. Eligibility
To enable and participate in futures trading on the Platform, you must:
- Be at least 18 years old or of legal age in your jurisdiction.
- Not be a resident of a restricted jurisdiction where futures trading is prohibited.
- Successfully complete all identity verification and compliance checks as required by the Platform.
4. Account and Margin Requirements
- Margin Balance: Users must maintain an adequate margin balance to open and sustain positions.
- Liquidation: If the margin balance falls below the maintenance margin level, the system will automatically liquidate open positions.
- Funding Fees: Users acknowledge that funding fees may apply and are subject to periodic changes.
5. Trading Rules and Execution
- All futures contracts are subject to the Platform’s trading rules, including leverage limits, order execution policies, and settlement mechanisms.
- Orders may not be executed at the expected price due to slippage, market gaps, or high volatility.
- The Platform reserves the right to adjust or cancel trades in cases of system failures, market manipulation, or regulatory requirements.
6. Prohibited Activities
Users must not engage in any of the following activities:
- Market manipulation, including wash trading, spoofing, or layering.
- Unauthorized account access or trading on behalf of another user.
- Circumventing or attempting to bypass platform security measures.
7. Liability and Indemnification
- The Platform is not responsible for any trading losses incurred by Users.
- Users agree to indemnify and hold harmless the Platform and its affiliates from any claims, damages, or losses arising from their use of the futures trading service.
8. Termination and Suspension
- The Platform reserves the right to suspend or terminate a User’s futures trading privileges at any time without prior notice if a violation of this Agreement occurs.
- Users may disable futures trading through account settings, but outstanding positions must be closed before deactivation.
9. Amendments and Modifications
The Platform may modify this Agreement at any time. Users will be notified of any significant changes, and continued use of futures trading services constitutes acceptance of the revised terms.
10. Governing Law and Dispute Resolution
This Agreement is governed by the laws of the jurisdiction where the Platform operates. Any disputes shall be resolved through arbitration or in accordance with applicable legal procedures.
By enabling futures trading, you acknowledge that you have read, understood, and agreed to the terms outlined in this Agreement.