At WEMX, we are committed to maintaining a robust and fair trading environment. The following rules have been established to ensure that all traders have a clear understanding of the expectations, risks, and operational guidelines that govern trading activities on our platform. Adherence to these rules is mandatory.
To participate in trading activities, users must complete the registration process, which includes a comprehensive Know Your Customer (KYC) verification. This process ensures the security of our platform and helps us comply with international regulatory standards.
1.1 Documentation: Users must provide valid identification documents, proof of address, and any additional documentation as required by WEMX. Failure to submit accurate information may result in account suspension.
1.2 Compliance Checks: WEMX performs periodic compliance checks to ensure ongoing adherence to legal and regulatory requirements. Users are required to cooperate fully during these checks.
While WEMX offers 24/7 trading access, certain markets and assets may be subject to specific operating hours, especially during periods of high volatility or system maintenance. It is the responsibility of the trader to be aware of these schedules.
2.1 Scheduled Maintenance: WEMX will notify users in advance of any scheduled maintenance that could impact trading activities. During these periods, trading may be paused, and no orders will be processed.
WEMX provides a variety of order types to accommodate different trading strategies, including market, limit, stop, and conditional orders. Understanding the characteristics and implications of each order type is crucial for successful trading.
3.1 Market Orders: Executed immediately at the current market price. These orders may result in slippage during periods of high volatility.
3.2 Limit Orders: Executed only at the specified price or better. These orders may not be filled if the market does not reach the limit price.
3.3 Stop Orders: Triggered when the asset reaches a specified price, turning into a market order. Used primarily for risk management.
3.4 Conditional Orders: Execute based on pre-defined criteria, allowing for advanced trading strategies. Traders must ensure that conditions are set accurately to avoid unintended executions.
WEMX applies a transparent fee structure based on the user's trading tier and the specific asset or market. It is important to review and understand these fees before placing trades.
4.1 Tiered Fees: Fees decrease as users progress through higher trading volume tiers. Refer to our Fees page for detailed information.
4.2 Hidden Costs: While WEMX strives for transparency, traders should be aware of potential hidden costs such as slippage, which can occur in fast-moving markets.
Trading with leverage allows users to control larger positions with a smaller amount of capital. However, it significantly increases the risk of loss, potentially exceeding the initial investment. Understanding margin requirements and implementing strict risk management strategies is essential.
5.1 Leverage Limits: WEMX sets maximum leverage limits based on the asset class and market conditions. These limits are subject to change to reflect market volatility and regulatory guidance.
5.2 Margin Calls: If the value of a leveraged position falls below the required margin level, WEMX may issue a margin call, requiring the trader to deposit additional funds or reduce their position. Failure to meet the margin call may result in automatic liquidation of the position.
WEMX strictly prohibits any form of market manipulation or unethical trading practices. This includes, but is not limited to, wash trading, spoofing, layering, and insider trading. We monitor trading activities to detect and prevent such behaviors.
6.1 Reporting Obligations: Traders are required to report any suspicious activity or breaches of these rules. Failure to report may be considered a violation of the trading rules.
6.2 Penalties: Violations of these rules can result in severe penalties, including account suspension, forfeiture of profits, and legal action.
In the event of a dispute, WEMX offers a structured process for resolution, prioritizing fairness and transparency. Users are encouraged to seek resolution through our support channels before pursuing external arbitration.
7.1 Internal Resolution: Most disputes can be resolved through our customer support team. For more complex issues, WEMX may appoint an internal mediator to facilitate a resolution.
7.2 External Arbitration: If a dispute cannot be resolved internally, it may be escalated to an external arbitration body, in accordance with our terms of service.
WEMX reserves the right to amend these trading rules at any time to reflect changes in market conditions, regulatory requirements, or platform policies. All changes will be communicated to users in a timely manner.
8.1 User Responsibility: It is the responsibility of each user to stay informed of any changes to the trading rules. Continued use of the WEMX platform constitutes acceptance of the updated rules.
All trading activities on WEMX must comply with applicable local, national, and international laws. This includes, but is not limited to, anti-money laundering (AML) regulations, counter-terrorism financing (CTF) laws, and any other relevant legal obligations.
9.1 Jurisdictional Restrictions: WEMX may restrict access to certain markets or services based on the user’s jurisdiction. It is the user’s responsibility to ensure that their trading activities are legal in their country of residence.
9.2 Reporting Obligations: WEMX complies with all applicable reporting obligations, including reporting suspicious activities to relevant authorities.
By participating in trading activities on WEMX, you agree to comply with these rules. Failure to do so may result in penalties, including but not limited to account suspension, financial penalties, and legal action.
For further clarification on any of these rules, or if you have any questions, please contact our Support Center.
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