Last Updated: August 28, 2024
Welcome to WEMX. These Terms of Service ("Terms") govern your access to and use of the WEMX platform ("Platform") operated by WEMX Holdings and its subsidiaries ("We," "Us," or "Our"). By accessing or using the Platform, you agree to be bound by these Terms. If you do not agree with any part of these Terms, you must not use our services.
WEMX is a cryptocurrency exchange platform operated by WEMX Holdings and its subsidiaries. WEMX Holdings is a holding company registered in the United Kingdom, responsible for the operation, development, and maintenance of the WEMX platform and providing strategic oversight to its subsidiaries. While WEMX Holdings controls the platform's technological infrastructure and defines overall policies and standards, it does not directly provide any services to users.
All services, including but not limited to AI Trading, Binary Trading, Spot Trading, Staking, custodial services, and related financial services, are provided exclusively by WEMX’s subsidiaries. These subsidiaries are distinct legal entities operating in various jurisdictions and are responsible for complying with local laws and regulations. Users engage directly with these subsidiaries, not with WEMX Holdings itself, for the provision of services.
By accessing or using the WEMX platform, you agree to be bound by these Terms of Service ("Terms") and all policies referenced herein, including our Privacy Policy and Risk Warning. If you do not agree with any part of these Terms, you must immediately stop using our services.
By accessing, registering, or using any part of the Platform, you agree to comply with and be legally bound by these Terms and all policies referenced herein. You also agree to WEMX’s Privacy Policy, which is incorporated by reference. If you do not agree with these Terms, you must immediately stop using the Platform.
WEMX: The cryptocurrency exchange platform operated by WEMX Holdings and its subsidiaries.
Subsidiaries: Legal entities owned or controlled by WEMX Holdings that operate in different jurisdictions.
Services: The services provided by WEMX’s subsidiaries, including cryptocurrency trading, custodial services, and other related services.
User: Any person or entity accessing or using the Platform.
Account: A unique user account registered with WEMX.
Cryptocurrencies: Digital or virtual currencies that utilize cryptography for security.
Fiat Currencies: Government-issued currencies, such as the US dollar or the euro.
Transaction: Any activity involving the buying, selling, exchanging, or transferring of Cryptocurrencies or Fiat Currencies on the Platform.
Intellectual Property Rights: Copyright, patents, trademarks, trade secrets, and other proprietary rights.
Restricted Countries: Countries where WEMX services are prohibited or restricted due to legal or regulatory reasons.
Force Majeure Event: An event beyond the reasonable control of WEMX, such as natural disasters, war, or government actions, that prevents WEMX from fulfilling its obligations under these Terms.
Platform: The WEMX website and any related mobile applications and services.
API: Application Programming Interface, a set of protocols for building and interacting with software applications.
KYC: Know Your Customer, a process of verifying the identity of clients.
AML: Anti-Money Laundering, measures to prevent money laundering activities.
To access and use the Platform, you must:
1. Be at least 18 years old or the legal age of majority in your jurisdiction.
2. Not be a resident or citizen of a Restricted Country.
3. Not have previously been suspended or removed from the Platform.
4. Comply with all applicable laws and regulations of your jurisdiction.
5. Have the legal capacity to enter into a binding agreement.
6. Provide accurate and complete information during account registration and comply with KYC and AML requirements.
Access to and use of the WEMX Platform and Services are restricted in certain countries due to legal, regulatory, or compliance reasons. The following countries are currently restricted, and users from these jurisdictions are not permitted to access or use the Platform or the Services:
This list may be updated from time to time based on changes in international sanctions, local regulations, or internal policies. It is your responsibility to ensure that you are not accessing or using the Platform from a restricted country. If you are found to be in violation of this restriction, your account may be suspended or terminated, and you may face legal consequences.
WEMX and its subsidiaries offer a range of services, including but not limited to:
Trading: Buying, selling, and exchanging various cryptocurrencies.
AI Trading: Automated trading services using artificial intelligence, designed to optimize trading strategies and performance.
Binary Trading: Short-term, high-risk trading options involving a fixed payout or loss.
Spot Trading: Trading of cryptocurrencies at current market prices, with immediate settlement.
Staking: Locking up cryptocurrencies to support network operations and earn rewards in return.
Custodial Services: Secure storage and management of cryptocurrencies on behalf of users, including insurance for stored assets where applicable.
Fiat Services: Conversion of fiat currencies to cryptocurrencies and vice versa (where available), including deposits and withdrawals.
API Access: Providing API access for developers and institutional clients to interact with the Platform programmatically.
Note: The availability of specific services may vary depending on the subsidiary operating in your jurisdiction and may be subject to additional terms and conditions.
To use our services, you must create an account by providing accurate and complete information, including undergoing KYC (Know Your Customer) and AML (Anti-Money Laundering) verifications as required by law. You are responsible for maintaining the confidentiality of your account information and for all activities that occur under your account. WEMX may request additional information or documentation to verify your identity or comply with applicable laws and regulations. You must promptly update your account information if any changes occur. WEMX reserves the right to suspend or terminate your account if any suspicious activity is detected, if you fail to comply with these Terms, or if required by law or regulation. WEMX also reserves the right to verify the information provided and to request further documentation if necessary.
Users are responsible for:
1. Ensuring that their use of the Platform complies with all applicable laws, rules, and regulations.
2. Not engaging in any illegal, fraudulent, or manipulative activities, including but not limited to money laundering, terrorism financing, or market manipulation.
3. Keeping their account information and credentials secure and confidential.
4. Understanding the risks associated with cryptocurrency trading and investing, including market volatility and the potential for loss.
5. Not using the Platform for any prohibited activities, such as those related to gambling, illegal substances, or weapons.
6. Not attempting to circumvent any restrictions or limitations imposed by WEMX, including those related to geographic location or service availability.
7. Complying with all applicable KYC and AML regulations.
WEMX charges fees for various services provided on the Platform, including trading fees, withdrawal fees, and other applicable charges. Fees may vary depending on the service, the cryptocurrency involved, and the jurisdiction and are subject to change. Users will be notified of any fee changes through the Platform or via email. You are responsible for paying all applicable fees associated with your use of the Platform and the Services. Additional charges may apply for certain services, including but not limited to API access, premium features, and expedited transactions.
Trading cryptocurrencies involves significant risk, including the risk of loss of your invested funds. Cryptocurrency prices can be highly volatile and subject to rapid and unpredictable fluctuations. WEMX is not liable for any losses incurred and does not provide investment advice. You acknowledge that you are fully aware of the risks involved and are solely responsible for your investment decisions. You should carefully consider your financial situation and risk tolerance before engaging in any cryptocurrency-related activities. WEMX does not guarantee the performance of any trading strategies or the returns on your investments.
You agree not to use the Platform or the Services for any of the following prohibited activities:
1. Violating any applicable laws or regulations.
2. Engaging in fraudulent, deceptive, or manipulative practices.
3. Attempting to gain unauthorized access to the Platform or other users' accounts.
4. Interfering with the proper functioning of the Platform or the Services.
5. Using the Platform or the Services for any illegal or harmful purposes.
6. Impersonating any person or entity or falsely stating or otherwise misrepresenting your affiliation with a person or entity.
7. Utilizing the Platform or Services for high-risk trading strategies or activities not explicitly covered by our terms.
WEMX and its licensors own all intellectual property rights in the Platform and the Services, including copyrights, trademarks, and trade secrets. You are granted a limited, non-exclusive, non-transferable license to access and use the Platform and the Services for your personal, non-commercial use. You may not copy, modify, distribute, sell, or lease any part of the Platform or the Services without WEMX's prior written consent. This includes any proprietary software, design elements, and content provided through the Platform.
To the maximum extent permitted by law, WEMX and its subsidiaries, officers, directors, employees, and agents shall not be liable for any indirect, incidental, consequential, special, or punitive damages arising out of or related to your use of the Platform or the Services. In no event shall WEMX’s total liability to you exceed the amount of fees paid by you for the Services in the six months preceding the event giving rise to the claim. This limitation of liability does not affect any statutory rights that cannot be waived or excluded under applicable law.
Any disputes arising out of or in connection with these Terms or your use of the Platform shall be resolved through binding arbitration in accordance with the rules of the International Chamber of Commerce (ICC). The arbitration proceedings shall be conducted in English, and the place of arbitration shall be London, United Kingdom. These Terms shall be governed by and construed in accordance with the laws of England and Wales, without regard to its conflict of law principles.
WEMX reserves the right to terminate or suspend your account or access to the Platform at any time, with or without cause, and with or without notice, including if you breach any provision of these Terms or engage in any prohibited activities. Upon termination, your right to access and use the Platform and the Services will immediately cease, and you must stop using the Platform and the Services. Any outstanding obligations, including payment of fees, will remain in effect.
WEMX reserves the right to modify or update these Terms at any time. Any changes will be posted on the Platform, and your continued use of the Platform following such changes constitutes your acceptance of the revised Terms. It is your responsibility to review these Terms periodically for any updates or changes. Significant changes will be communicated through the Platform or via email.
Force Majeure: WEMX shall not be liable for any failure to perform its obligations under these Terms due to a Force Majeure Event.
Severability: If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
Waiver: The failure of WEMX to enforce any provision of these Terms shall not constitute a waiver of such provision or of the right to enforce it.
Entire Agreement: These Terms constitute the entire agreement between you and WEMX regarding your use of the Platform and the Services and supersede all prior agreements and understandings.
Third-Party Services: The Platform may include links to third-party websites or services that are not owned or controlled by WEMX. We have no control over, and assume no responsibility for, the content, privacy policies, or practices of any third-party websites or services. You acknowledge and agree that WEMX shall not be responsible or liable, directly or indirectly, for any damage or loss caused by or in connection with the use of any third-party websites or services.
If you have any questions or concerns about these Terms or the Platform, please contact us at:
Email: compliance@wemx.io
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