Skip to main content

By using our service you accept it

ID.DEX User Agreement

Part 1 of 2
Last revised: May 7, 2019
IMPORTANT INFORMATION: This User Agreement contain information like: KYC, account registrations and similar terms. All that information is related only to professional trading systems and non-applicable to Basic ID.DEX customers.
Basic ID.DEX customers doesn't need any kind of KYC or full profiles registration.

Please find detailed information below:

ID.DEX User Agreement

THIS AGREEMENT CONTAINS A BINDING ARBITRATION CLAUSE AND CLASS ACTION WAIVER THAT IMPACT YOUR RIGHTS ABOUT HOW TO RESOLVE DISPUTES. PLEASE READ IT CAREFULLY.

This User Agreement (“Agreement”) is a contract between you and h ID.DEX, LLC11 or ID.DEX, JSC1 (“ID.DEX”, “we”, “us”, “our”) that applies to your use of ID.DEX as user (“User”, “you” or “your”) to buy or sell Digital Assets, hold Digital Assets, engage in margin trading (where permissible), use the ID.DEX Application Programming Interface (“API”) or use any other services offered through the Site (as defined below) or via the official ID.DEX mobile application (the “App”) (together, the “Services”). By registering for an account with ID.DEX (“Account”) or using any of the Services, you agree that you have read, understood and accept all of the terms and conditions contained in this Agreement as well as our Privacy Policy, Cookie Policy and E-Sign Consent and you acknowledge and agree that you will be bound by these agreements and policies.

Note that this Agreement uses the term “Digital Assets” to refer to bitcoin, ethereum or any other digital assets, cryptocurrencies, virtual currencies or tokens that are available for purchase and exchange through ID.DEX.

Section 30 of this Agreement governs how this Agreement may be changed over time. The text included in boxes throughout this Agreement is there to help you understand the Agreement but is not part of the Agreement. If after reading this Agreement in its entirety you are still unsure of anything or you have any questions, please feel free to contact Support.

Please print or save a copy of this Agreement for your records.

1. APPLICABLE LAWS AND REGULATIONS

Your conduct on the ID.DEX platform is subject to the laws, regulations, and rules of any applicable governmental or regulatory authority, including, without limitation, all applicable tax, anti-money laundering (“AML”) and counter-terrorist financing (“CTF”) provisions.
If your country of residence, as determined by your official identification document and verified residential address (“Country of Residence”), is based within the European Economic Area (“EEA”), your representative within the EEA for the purposes of the General Data Protection Regulation (EU) 2016/679 (“GDPR”) is ID.DEX. If your Country of Residence is outside of the EEA, provisions related to the GDPR shall not apply to your use of the Services.
You unequivocally agree and understand that by opening an Account and using the Services in any capacity, you shall act in compliance with and be legally bound by this Agreement and all applicable laws and regulations (including without limitation those stated in this Section 1, where applicable), and failure to do so may result in the suspension of your ability to use the Services or the closure of your Account. For the avoidance of doubt, continued use of your Account, and the receipt of all trading fee discounts and rebates, is conditioned on your continued compliance at all times with this Agreement and all applicable laws and regulations.

2. ELIGIBILITY

You must be at least 18 years old and have not previously been suspended or removed from ID.DEX to enter into this Agreement. By accessing or using ID.DEX, you further represent and warrant that you are not a Restricted Person nor are you resident of a Restricted Territory (each as defined in Section 37 below).
You represent and warrant that you will not be using ID.DEX for any illegal activity, including without limitation illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, the financing of terrorism, other violent activities or any prohibited market practices, including without limitation those listed under Section 22.
Notwithstanding the foregoing, ID.DEX may determine not to make the Services, in whole or in part, available in every market, either in its sole discretion or due to legal or regulatory requirements, depending on the User’s location.

3. REGISTRATION PROCESS, IDENTITY VERIFICATION

When registering your Account, you must provide current, complete, and accurate information for all required elements on the registration page, including your full legal name. You are the only person authorized to use your Account and you may not share your Account credentials with any other person. You also agree to provide us, when registering an Account and on an ongoing basis, with any additional information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime, including without limitation a copy of your government issued photo ID or evidence of residency such as a lease or utility bill. You permit us to keep a record of such information and authorise us to make the inquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full.
In certain circumstances, we may require you to submit additional information about yourself or your business, provide records, and complete other verification steps (such process, “Enhanced Due Diligence”).
You represent and warrant that any and all information provided to us pursuant to this Agreement or otherwise is true, accurate and not misleading in any respect. If any such information changes, it is your obligation to update such information as soon as possible.
From time to time we may be required to request further information regarding your transactions in order to comply with applicable law and regulation and our own policies. Failure to provide such information in a timely fashion may result in the suspension of your ability to use the Services (until you provide such information) or the closure of your Account.
We reserve the right to maintain your account registration information after you close your Account for business and regulatory compliance purposes, subject to applicable law and regulation. For example, we are subject to various AML and CTF regulations which, in a number of jurisdictions, require us to retain certain personal data for a minimum period of five (5) years following the closure of your Account.

4. AML AND CTF COMPLIANCE

Our AML and CTF procedures are guided by all applicable rules and regulations regarding AML and CTF. These standards are designed to prevent the use of the ID.DEX platform for money laundering or terrorist financing activities. We take compliance very seriously and it is our policy to take all the necessary steps to prohibit fraudulent transactions, report suspicious activities, and actively engage in the prevention of money laundering and any related acts that facilitate money laundering, terrorist financing or any other financial crimes.

5. INITIAL FUNDING, THIRD PARTY TRANSFERS

ID.DEX does not allow Users to exchange Digital Assets for fiat currency; Users can only exchange Digital Assets for other Digital Assets. In order to fund your Account and begin trading, you will need to first procure Digital Assets. Once procured, you must send the relevant Digital Assets to the address provided by ID.DEX and wait for the balance to appear in your Account. It is your responsibility to ensure you send the Digital Assets to the correct address provided for that particular Digital Asset, else your funds may never be recovered.
If you send a Digital Asset to a ID.DEX address that does not correspond to that exact Digital Asset, such Digital Asset may be lost forever. If you send a Digital Asset from your ID.DEX account to an external address that does not correspond to that exact Digital Asset, such Digital Asset may be lost forever. You assume all liability for any losses incurred as a result of sending a Digital Asset to an incorrect address.
You acknowledge and agree that certain Digital Assets have a minimum amount for deposits. Deposits below this may not be visible in your Account. You understand that you will be required to meet minimum deposit amounts in order to trade and to be able to withdraw these funds.
ID.DEX makes no representations or warranties regarding the amount of time that may be required to complete transfer of your Digital Assets from a third party wallet or other source and have said Digital Assets become available in your Account.
When you elect to transfer Digital Assets from your Account to a third party wallet or other location, it is always possible the party administering the new location may reject your transfer or that the transfer may fail due to technical or other issues affecting our platform. You agree that you shall not hold ID.DEX liable for any damages arising from a rejected transfer.

6. PRIVACY POLICY

We are committed to protecting your personal information and to helping you understand exactly how your personal information is being used. You should carefully read our Privacy Policy and Cookie Policy which provide details on how your personal information is collected, stored, protected, and used.

7. COMMUNICATIONS

By entering into this Agreement, you agree to receive electronic communications and notifications in accordance with our E-Sign Consent Policy.
Printing and mailing correspondence, disclosures, and account statements takes time and money, so we like to handle these matters electronically.
This Agreement is provided to you and concluded in English. We will communicate with you in English for all matters related to your use of our Services. Where we have provided you with a translation of the English language version of this Agreement, you agree that the translation is provided for your convenience only and that the English language version of the Agreement will govern your use of the Services.

8. SECURITY OF USER INFORMATION

You are responsible for maintaining the confidentiality and security of any and all account names, User IDs, passwords and any other security feature that you use to access the Services. You are responsible for (i) keeping your email address up to date in your Account profile and (ii) maintaining the confidentiality of your User information and the security of your Account, which includes the enabling of all relevant security features. You agree to notify ID.DEX immediately if you become aware of any unauthorized use of the Services or any other breach of security regarding the Services. ID.DEX will not be liable for any loss or damage arising from your failure to protect your Account or your User information.
We shall not bear any liability for any damage or interruptions caused by any computer viruses, spyware, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attack. We advise the regular use of a reliable virus and malware screening and prevention software. If you question the authenticity of a communication purporting to be from ID.DEX, you should login to your Account through the ID.DEX website (ID.DEX.com) (the “Site”) or via the App, not by clicking links contained in emails.
We go to great lengths to protect your Account, but we need you to do the same. It is important that you always protect not only your password but also the email account associated with your Account and any device used to access your Account. We strongly advise you to enable two-factor authentication: this offers you greater protection from possible attackers attempting to log in to your Account than password alone and in situations where your email and/or password is compromised by a third party data breach.

9. API USE

Subject to your compliance with this Agreement and any other agreement which may be in place between you and ID.DEX related to your use of the API, ID.DEX hereby grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license, to use the API solely for the purposes of trading on ID.DEX. You agree to not use the API or data provided through the API for any other commercial purpose. You access and use the API entirely at your own risk, and ID.DEX will not be responsible for any actions you take based on the API.
ID.DEX may, at its sole discretion, set limits on the number of API calls that you can make, for example, to maintain market stability and integrity. You acknowledge and agree that if you exceed these limits, ID.DEX may moderate your activity or cease offering you access to the API (or any other API offered by the Circle group), each in its sole discretion. ID.DEX may immediately suspend or terminate your access to the API without notice if it believes you are in violation of the terms of this Agreement (including, without limitation, Section 22) or any other agreement which may be in place between you and ID.DEX related to your use of the API.

10. ACCOUNT SUSPENSION & CLOSURE

We may, in our sole and absolute discretion, without liability to you or any third party, refuse to let you open an Account, suspend your Account, consolidate Accounts if you have more than one or terminate your Account or your use of one or more of the Services. Such actions may be taken as a result of a number of factors, including without limitation account inactivity, failure to respond to customer support requests, failure to positively identify you, a court order or your violation of the terms of this Agreement (including without limitation Section 22). ID.DEX may also temporarily suspend access to your Account in the event that a technical problem causes system outage or Account errors until the problem is resolved.
You may terminate this Agreement at any time by closing your Account in accordance with this Agreement. In order to do so, you should contact Support who will assist you in closing your Account. You should also contact Support if you are seeking to close an Account on behalf of a deceased User. You may not close an Account if ID.DEX determines, in its sole discretion, that such closure is being performed in an effort to evade a legal or regulatory investigation or avoid paying any amounts otherwise due to ID.DEX.
We encourage you to withdraw any remaining balance of Digital Assets prior to issuing a request to close your Account. We will be unable to close your Account at your request unless you have withdrawn your remaining balance of Digital Assets. We reserve the right to restrict or refuse to permit withdrawals from your Account if (i) your Account has otherwise been suspended or closed by ID.DEX in accordance with this Agreement; (ii) to do so would be prohibited by law or a court order or we have determined that the Digital Assets were obtained fraudulently; or (iii) you have not undergone the required identity verification procedure such that your identity has been verified, as indicated by your Account.
You can check whether or not your Account has been verified by reviewing your verification status under the “My Profile” section of your Account.
Upon closure or suspension of your Account, you authorize ID.DEX to cancel or suspend pending transactions.
In the event that you or ID.DEX terminates this Agreement or your access to the Services, or deactivates or cancels your Account, you remain liable for all activity conducted with or in connection with your Account while it was open and for all amounts due hereunder.

11. RISK DISCLOSURES

The following list of risks associated with Digital Assets and the Services is not exhaustive.
No advice ID.DEX provides an execution-only service and does not advise on the merits of any particular transactions, trading risk or their tax consequences, and ID.DEX does not provide any other financial, investment or legal advice in connection with the Services. To the extent that we or our representatives do provide trading recommendations, market commentary, or any other information, the act of doing so is incidental to your relationship with us and such information may not be considered as investment or financial advice and should not be construed as such. Any decision to buy or sell Digital Assets is the User’s decision and ID.DEX will not be liable for any loss suffered.
You accept the risk of trading Digital Assets. In entering into any transaction on ID.DEX, you represent that you have been, are, and will be solely responsible for making your own independent appraisal and investigations into the risks of the transaction and the underlying Digital Asset. You represent that you have sufficient knowledge, market sophistication, professional advice and experience to make your own evaluation of the merits and risks of any transaction or any underlying Digital Asset.
Digital Assets and transfers
Trading Digital Assets can be extremely risky. Each Digital Asset has unique features that make it more or less likely to fluctuate in value. In addition, factors beyond ID.DEX’s control may affect market liquidity for a particular Digital Asset, such as regulatory activity, market manipulation, or unexplainable price volatility. Blockchain networks may go offline as a result of bugs, Forks (defined below), or a number of other unforeseeable reasons. As a general matter, we advise Users with limited trading experience and low risk tolerance not to engage in active trading. Speculating on the value of Digital Assets is high risk and Users should never trade more than they can afford to lose.
Understanding Digital Assets requires advanced technical knowledge. Digital Assets are often described in exceedingly technical language that requires a comprehensive understanding of applied cryptography and computer science in order to appreciate inherent risks. Listing of a Digital Asset on ID.DEX does not indicate approval or disapproval of the underlying technology regarding any Digital Asset and should not be used as a substitute for your own understanding of the risks specific to each Digital Asset. We give you no warranty as to the suitability of the Digital Asset traded under this Agreement and assume no fiduciary duty in our relations with you.
Users accept all consequences of sending Digital Assets to an address off our platform. Digital Asset transactions may not be reversible. Once you send Digital Assets to an address, you accept the risk that you may lose access to your Digital Assets indefinitely. For example, an address may have been entered incorrectly and the true owner of the address may never be discovered, or an address may belong to an entity that will not return your Digital Assets, or an address belongs to an entity that may return your Digital Assets but first requires action on your part, such as verification of your identity.

Supply and value of Digital Assets
The ability for you to purchase Digital Assets using ID.DEX is contingent on there being a counterparty willing to sell the same Digital Asset, which is outside of ID.DEX’s control. ID.DEX makes no promises as to the timing or availability of the ability to purchase Digital Assets via the platform.
The value of Digital Assets may be derived from the continued willingness of market participants to exchange Digital Assets for Digital Assets, which may result in the potential for permanent and total loss of value of a particular Digital Asset should the market for that Digital Asset disappear.
You acknowledge and agree that Digital Assets and/or ID.DEX features available in one jurisdiction may not be available for trading or to access, as applicable, in another. Software protocols and operational challenges
The software protocols that underlie Digital Assets are typically open source projects, which means that (i) the development and control of such Digital Assets is outside of ID.DEX’s control and (ii) such software protocols are subject to sudden and dramatic changes that might have a significant impact on the availability, usability or value of a given Digital Asset.
You are aware of and accept the risk of operational challenges. ID.DEX may experience sophisticated cyber attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the Services. You understand that the Services may experience operational issues that lead to delays. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree not to hold ID.DEX accountable for any related losses.
Compliance
You are responsible for complying with applicable law. You agree that ID.DEX is not responsible for determining whether or which laws may apply to your transactions, including tax law. You are solely responsible for reporting and paying any taxes arising from your use of the Services. Legislative and regulatory changes
Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of Digital Assets.
No deposit protection
Digital Assets held in your Account are not subject to deposit insurance protection, including without limitation, where your Country of Residence is (i) the United States, Federal Deposit Insurance Corporation insurance or Securities Investor Protection Corporation protections; or (ii) outside of the United States, any equivalent scheme.

12. FORKS & ADVANCED PROTOCOLS

As a result of the decentralized and open source nature of Digital Assets it is possible that sudden, unexpected, or controversial changes (“Forks”) can be made to any Digital Asset that may change the usability, functions, value or even name of a given Digital Asset. Such Forks may result in multiple versions of a Digital Asset and could lead to the dominance of one or more such versions of a Digital Asset (each a “Dominant Digital Asset”) and the partial or total abandonment or loss of value of any other versions of such Digital Asset (each a “Non-Dominant Digital Asset”).
ID.DEX is under no obligation to support a Fork of a Digital Asset that you hold in your Account, whether or not any resulting version of such forked Digital Asset is a Dominant Digital Asset or Non-Dominant Digital Asset or holds value at or following such Fork. If ID.DEX elects, in its sole discretion, to support a Fork of a Digital Asset, it will make a public announcement through its Site and/or the App and/or by notifying customers via email, and shall bear no liability for any real or potential losses that may result based on the decision to support such Fork or the timing of implementation of support. If ID.DEX, in its sole discretion, does not elect to support a Fork of a given Digital Asset, including the determination to support, continue to support, or cease to support any Dominant Digital Asset or Non-Dominant Digital Asset, ID.DEX assumes no responsibility or liability whatsoever for any losses or other issues that might arise from an unsupported Fork of a Digital Asset.

Forks of Digital Assets can be frequent, contentious and unpredictable, and therefore cannot be consistently supported on ID.DEX. When trading or holding Digital Assets using your Account you should operate under the assumption that ID.DEX will never support any Fork of the supported Digital Asset.

ID.DEX also does not generally support any other distributions, dividends, or “airdrops” of Digital Assets to wallet addresses (collectively, “Airdrops”) regardless of whether or not you would have received such Airdrops if you held your Digital Assets outside of ID.DEX. ID.DEX may, at its sole discretion, elect to distribute and/or support an Airdrop, but it has no obligation to do so and shall bear no liability to Users for failing to do so. If we do not support an Airdrop, we will not claim such Airdrop for our own benefit (unless it is unavoidable or impractical to avoid based on the means of distribution).

Certain Digital Assets are built to operate on the Ethereum or other protocols or are distributed to holders of Ethereum or other protocols (often referred to as an “Airdrop”) without any action required by the User. As a general rule, ID.DEX does not support Forks or Airdrops, but will notify Users if it intends to support a specific Fork, Airdrop, or other distribution or creation of a Digital Asset.

Note that in the event of a Fork of a Digital Asset, ID.DEX may be forced to suspend all activities relating to such Digital Asset (including trading, depositing, and withdrawing) for an extended period of time until ID.DEX has determined in its sole discretion that such functionality can be restored (“Downtime”). This Downtime will likely occur immediately upon a Fork of a given Digital Asset, potentially with little to no warning, and during this period of Downtime you will not be able to trade, deposit, or withdraw the Digital Asset subject to such Fork.

13. ATTACKS ON BLOCKCHAIN NETWORKS

ID.DEX does not have any ability to prevent or mitigate attacks on blockchain networks. ID.DEX reserves the right to take the following commercially reasonable actions in the event of an attack: (i) if we are able to confirm that a Digital Asset active on ID.DEX been compromised or is under attack, we may immediately halt trading, deposits, and withdrawals for such Digital Asset; (ii) if it is determined that such an attack caused the Digital Asset to greatly decrease in value, we may discontinue trade activity in such Digital Asset entirely. ID.DEX does not have any obligation to engage in activity in relation to attacks on blockchain networks.
Resolutions concerning deposits, withdrawals and User balances for an attacked Digital Asset will be determined on a case-by-case basis by ID.DEX in its sole discretion. ID.DEX makes no representation and does not warrant the safety of ID.DEX and you assume all liability for any lost value or stolen property.

14. RIGHT TO CHANGE OR REMOVE FEATURES AND SUSPEND OR DELAY TRANSACTIONS

We reserve the right to change, suspend, or discontinue any aspect of the Services at any time and in any jurisdiction, including hours of operation or availability of any feature, without notice and without liability.
We may decline to process any order and may limit or suspend your use of one or more Services at any time, in our sole discretion. Suspension of your use of any of the Services will not affect your rights and obligations pursuant to this Agreement. We may, in our sole discretion, decline to process orders if (i) we believe the transaction is suspicious; (ii) the transaction may involve fraud or misconduct; (iii) it violates applicable laws; or (vi) it violates the terms of this Agreement. Where permitted by law, we will notify you by the end of the business day if we have suspended processing your orders and, if possible, provide our reasons for doing so and anything you can do to correct any errors leading to the stoppage.

15. FEES

In consideration for the use of the Services, you agree to pay to ID.DEX the fees for completed trades, as set forth in our fee schedule displayed on the Site (“Fee Schedule”) , which ID.DEX may revise or update in its sole discretion from time to time. On request, ID.DEX may make available an alternative fee schedule (“Alternative Fee Schedule”) to Users who satisfy certain criteria (such as in relation to trading volume), which are determined by ID.DEX in its sole discretion from time to time. You authorize ID.DEX to deduct any applicable fees from your Account at the time you make a given transaction. Changes to the Fee Schedule or Alternative Fee Schedule are effective as of the date set forth in any revision and will apply prospectively from that date forward.
You agree at all times to maintain a sufficient balance in your Account to meet any relevant withdrawal fees. We reserve the right to refuse to facilitate withdrawals of Digital Assets which fall below any applicable withdrawal fee.

16. PROMOTIONS

ID.DEX does not, as a general rule, participate in promotions without an official pronouncement, either on the Site, the App or elsewhere. You shall obtain prior written approval prior to releasing any statements, written media releases, public announcements and public disclosures, including promotional or marketing materials, relating to ID.DEX.

17. COPYRIGHT INFRINGEMENT

If you believe anything on the Site or on the App infringes upon any copyright which you own or control, you may file a notification of such infringement with our designated agent as set forth below.
ID.DEX, LLC / ID.DEX, JSC2
You should note that if you knowingly misrepresent in your notification that the material or activity is infringing, you will be liable for any damages, including costs and attorneys’ fees, incurred by us or the alleged infringer as the result of our relying upon such misrepresentation in removing or disabling access to the material or activity claimed to be infringing.

18. COPYRIGHT OF FEEDBACK MATERIALS

You acknowledge and agree that any materials, including without limitation questions, comments, feedback, suggestions, ideas, plans, notes, drawings, original or creative materials or other information or commentary you provide on our platform or one of our social media accounts, regarding ID.DEX or the Services (collectively, “Feedback”) that are provided by you, whether by email, posting to the Site, provided via the App or otherwise, are non-confidential and will become the sole property of ID.DEX. ID.DEX will own exclusive rights, including all intellectual property rights, and will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you.

Download in PDF

Continue reading