Last Updated: 25th June 2025
The following terms and
conditions of service, together with any other documents expressly incorporated
herein, (collectively, the "Terms") constitute an
agreement between you ("you", "your" or "User")
and M2 Global Wealth Limited an international business company incorporated in
and pursuant to the laws of the Commonwealth of The Bahamas ("M2", "we", "our" or "us"),
or a Service Provider in respect of a Specified Service, and apply to your use
of:
(A) the Exchange and any
Specified Service that may be offered to you by a Service Provider
(collectively, the "Platform"), as a User to buy, sell,
exchange, hold, stake, lend, borrow, send, receive or otherwise transact in
(together, "transact in") or list Virtual Assets and/or
Futures Contracts;
(B) the M2 Application
Programming Interface ("API"); and
(C) any other services offered
through the M2 website (www.m2.com) (the "Site") or any
Mobile
Application,
(together, the "Services").
Except as expressly
provided herein, these Terms do not apply to any other products or services
provided by M2 or its Affiliates.
By registering for an
Account or using the Services, you agree that you have read, understand and
accept the Terms, including our Privacy Policy and Fee Schedule, and you acknowledge
and agree that you will be bound by and comply with the Terms. Do not proceed
with registering for an Account, or using the Services, if you do not
understand and accept the Terms in their entirety.
Section 22 (Right to
change, suspend or discontinue Services) and Section 24 (Updates to the
Terms) set out the terms on which we may, from time to time, change,
suspend, or discontinue any aspect of the Services and amend any part of the
Terms.
Our Services are not
offered to Restricted Persons (as defined in Section 3.3.1(B) below) or persons
who have their registered office or place of residence in the United States of
America (“US”) or any Restricted Location (as defined in Section 3.3.1(A) below).
M2's relationship with you
under the Terms is as a trading platform provider only. M2 does not act as
principal or counterparty with respect to trades entered
into on the Platform. Notwithstanding the foregoing, M2 may act as
a counterparty for limited trades made for the purpose of liquidating fees
collected on User trades.
Section 40.12(Arbitration)
requires all Disputes to be resolved by way of legally binding arbitration on
an individual basis only and not as a claimant or class member in a purported
class or representative action. There is no judge or jury in arbitration and
court review of an arbitration award is limited.
The laws of some
jurisdictions may limit or not permit certain provisions of the Terms, such as
arbitration, indemnification, the exclusion of certain warranties or the
limitation of certain liabilities. In such a case, such provisions will apply
only to the maximum extent permitted by the laws of such
jurisdictions.
In the Terms, unless the
context otherwise requires, the definitions and rules of interpretation set out
in Schedule 1 shall apply.
1 STRUCTURE OF
TERMS
1.1 The Terms comprise:
1.1.1 the general terms and
conditions set out below, in Sections 1 (Structure of Terms) to 40 (General),
and in Schedule 1 (Definitions and Interpretation), which apply
generally to you, your registration and use of an Account, and your use of the
Services ("General Terms");
1.1.2 the policies, schedules and
other documents of M2 and its Affiliates incorporated by reference into the
Terms, including our Privacy Policy and Fee Schedule ("M2 Policies");
1.1.3 the terms and conditions
set out in each Service Schedule, which shall also apply to the Specified
Service referred to therein; and
1.1.4 any other terms and
conditions that M2 may offer at any time.
1.2 To the extent there is any
conflict or inconsistency between the modules of the Terms, such conflict or
inconsistency shall be resolved in the following order of precedence, unless a
term or condition set out in a document of lower precedence is expressly
identified as taking precedence over a document of higher precedence: General
Terms, Service Schedules, Fee Schedule, Privacy Policy, and other M2
Policies.
1.3 IMPORTANT: You acknowledge
and agree that any Specified Service referred to in a Service Schedule shall be
provided to you by the Service Provider specified in that Service Schedule. In
such case, the Specified Service shall be provided to you on and subject to the
Terms, with references in these General Terms to "M2" (or
"we", "our" or "us") being read as references to
the Service Provider specified in the Service Schedule, unless the context
provides otherwise, and under no circumstances shall any other person,
including any Affiliate of the Service Provider, be liable to you for the
performance of any of the Service Provider's obligations under the Terms.
2 RISK DISCLOSURES
Before beginning to use the
Services, you should ensure you have read and understood (and you represent and
warrant that you have read and understood) the following risk disclosures and
the risk disclosures set out in the Service Schedules. You should note that
this is not an exhaustive list of all of the
risks associated with Virtual Assets, Futures Contracts and the Services.
2.1 Virtual Asset transfers and
volatility
2.1.1 Understanding Virtual
Assets requires advanced technical knowledge. Virtual Assets are often
described using highly technical language that necessitates a comprehensive
understanding of applied cryptography and computer code to appreciate the
inherent risks. The listing of a Virtual Asset on the Platform does not imply
M2's approval or disapproval of the underlying technology of any Virtual Asset
and should not be used as a substitute for your own understanding of the risks
specific to each Virtual Asset. We provide no warranty as to the suitability of
the Virtual Assets traded under the Terms and assume no fiduciary duty to you
in connection with such use of the Services.
2.1.2 Trading in Virtual Assets
can be highly risky and volatile. Unique features of Virtual Assets may make
their value more or less likely to fluctuate. Factors beyond M2's control, such
as regulatory activity or unexplained price volatility, may affect market
liquidity for a specific Virtual Asset. Blockchain networks may go offline due
to bugs, Forks (as defined in Section 18 below), or other
unpredictable reasons. Generally, you should not engage in active trading on
the Platform if you have limited trading experience or low risk tolerance.
Speculating on the value of Virtual Assets is high risk, and you should never
trade more than you can afford to lose.
2.1.3 You accept all consequences
of sending Virtual Assets to an address off the Platform. Virtual Asset
transactions may not be reversible. Once you send Virtual Assets to an address,
you accept the risk that you may lose access to your Virtual 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 a person
who will not return your Virtual Assets or may return your Virtual Assets but
first require action on your part, such as verification of your identity or
compensation.
2.2 No advice and no
reliance
2.2.1 M2 is not your broker,
intermediary, agent, or advisor and does not have a fiduciary relationship or
obligation to you concerning any trades, decisions, or activities you undertake
using the Services.
2.2.2 M2 does not provide
guidance on transaction merits, trading risks, tax consequences, or any
financial, investment, tax, or legal advice related to the Services. Any market
commentary or other information given by us or our representatives is
incidental to your relationship with us and should not be considered investment
or financial advice. Using the Services and transacting in Virtual
Assets/Futures Contracts is your independent decision. You agree not to rely on
any communication (written or oral) from us as investment advice or a
recommendation to use the Services and transact in Virtual Assets/Futures
Contracts. M2 is not liable for any losses suffered by you or a third
party.
2.2.3 You accept the risks of
trading Virtual Assets/Futures Contracts. When conducting any transaction on
the Platform, you are solely responsible for assessing and investigating the
transaction risks and the underlying Virtual Asset/Futures Contract. You have
enough knowledge, market sophistication, professional advice, and experience to
evaluate the merits and risks of any transaction on the Platform or any
underlying Virtual Asset/Futures Contract.
2.3 Supply and value of Virtual
Assets
2.3.1 The value of Virtual Assets
may be derived from the continued willingness of market participants to
exchange Virtual Assets for Fiat Currency and other Virtual Assets, which may
result in the permanent and total loss of value of a particular Virtual Asset
should the market for that Virtual Asset disappear.
2.3.2 You acknowledge and agree
that Virtual Assets and/or Services (in whole or in part) available in one
jurisdiction may not be available for trading, use, or access, as applicable,
in another.
2.4 Margin trading
2.4.1 Margin trading is HIGH
RISK. As a borrower, you may experience a total loss of Virtual Assets, Futures
Contracts, Fiat Currency, and E-Money (collectively, "Assets")
in your Account or owe Assets beyond what you have deposited in your Account.
When you lend Assets to other Users, you risk the loss of an unpaid principal
if the borrower defaults on a loan and liquidation of the borrower's Account
fails to raise sufficient Assets to cover the borrower's debt.
2.5 Complex products
2.5.1 Trading complex products,
such as Futures Contracts ("Complex Products"), may not be
suitable for all Users. Complex Product trading is designed for sophisticated
Users, like active traders using dynamic strategies. Exercise extreme caution
when trading Complex Products and only trade them if you understand how they work,
including risks related to margin trading, leverage, shorting, and the effect
of compounding and market volatility risks on leveraged products.
2.5.2 Complex Product trading
involves significant risk, and you may feel the effects of losses immediately.
Complex Product trading requires initial posting of collateral to meet initial
margin requirements. If market movements for a Complex Product or the
underlying Virtual Asset decrease your position's value, you may need to have
or make additional collateral available as margin to ensure maintenance margin
requirements are met. If your Account is under the minimum margin requirements,
your position may be liquidated at a loss, and you may lose all Assets in your
Account. If there are additional deficits in your Account, you will also be
liable for all such deficits.
2.5.3 USERS WHO DO NOT UNDERSTAND
LEVERAGE OR MARGIN TRADING, OR DO NOT INTEND TO ACTIVELY MANAGE THEIR
PORTFOLIO, SHOULD NOT ENGAGE IN COMPLEX PRODUCT TRADING.
2.5.4 M2 AND ITS AFFILIATES DO
NOT TAKE ANY RESPONSIBILITY WHATSOEVER FOR ANY LOSSES OR DAMAGE INCURRED AS A
RESULT OF YOUR USE OF ANY COMPLEX PRODUCT TRADING SERVICES OFFERED ON THE
PLATFORM OR YOUR FAILURE TO UNDERSTAND THE RISKS ASSOCIATED WITH COMPLEX PRODUCT
TRADING.
2.6 Software protocols and
operational challenges
2.6.1 The software protocols that
underlie Virtual Assets are typically open source projects or are otherwise
operated by third parties, which means that: (i) the
operations, functionalities, development, and control of such Virtual Assets
and their underlying networks are outside of M2'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 Virtual
Asset.
2.6.2 You are aware of and accept
the risk of operational challenges that may impact the Services. The Platform
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 M2 liable for
any related losses.
2.6.3 You understand that the
technology underlying Virtual Assets is subject to change at any time, and such
changes may affect your Virtual Assets stored on the Platform. You are fully
responsible for monitoring such technological changes and understanding their
consequences for your Virtual Assets.
2.6.4 Users conduct all trading
on their own account and M2 does not take any responsibility for any loss or
damage incurred as a result of your use of
any Services or your failure to understand the risks associated with Virtual
Assets use generally or your use of our Services.
2.6.5 Virtual Assets depend on
the availability and reliability of power, connectivity, and
hardware. Interruption
or failure of any of these things may disrupt the networks on which the Virtual
Assets rely or your ability to access or transact in Virtual Assets.
2.7 Blacklisted addresses and
forfeited Assets
2.7.1 M2 reserves the right to
"blacklist" certain addresses and freeze associated Assets
(temporarily or permanently) that it determines, in its sole discretion, are
associated with illegal activity or activity that otherwise violates the Terms
("Blacklisted Addresses"). If you send Assets to a Blacklisted
Address or receive Assets from a Blacklisted Address, M2 may freeze such Assets
and take steps to terminate your Account.
2.7.2 In certain circumstances,
M2 may deem it necessary to report such suspected illegal activity to
applicable law enforcement agencies and other Regulatory Authorities, and you
may forfeit any rights associated with your Assets, including the ability to
redeem or exchange your Virtual Assets for other Virtual Assets or Fiat
Currency. M2 may also freeze Assets held in your Account in the event that we receive a related order or request
from a legal or Regulatory Authority.
2.8 No deposit protection
Virtual Assets, Futures
Contracts, Fiat Currencies, or E-Money held in your Account are not eligible
for any public or private deposit insurance protection.
2.9 Virtual Asset Distributions
and Forks not supported
Certain Virtual Assets
operate on protocols that support Forks (as defined in Section 18.1 below) and/or
Virtual Asset Distributions (as described in Section 18.4 below),
including, but not limited to, Staking Rewards (as defined in Section 18.4 below) and Airdrops
(as defined in Section 18.4 below). M2 is
under no obligation to support any such Forks or Virtual Asset Distributions
for Users. By holding these Virtual Assets in your Account, you forfeit the
right to claim any Virtual Asset Distributions from M2. If you hold Virtual Assets
with proof-of-stake or delegated proof-of-stake consensus algorithms, M2 may,
at its sole discretion, stake these Virtual Assets without any obligation to
distribute Staking Rewards to you. Staking may expose your Virtual Assets to
additional risks, and M2 is not responsible for any losses you may incur
related to staking.
2.10 Compliance
You are accountable for
adhering to all Applicable Laws. You acknowledge that M2 is not liable for
determining the applicability or specifics of laws and regulations that may
pertain to your transactions, including but not limited to tax laws and regulations.
You alone are responsible for reporting and paying any taxes resulting from
your use of the Services.
2.11 Legislative and regulatory
changes
Changes or actions in
legislation and regulation, whether domestically or internationally, might
negatively impact the use, transfer, transaction capabilities, and value of
Virtual Assets/Futures Contracts, or your access to, and our capacity to
provide, the Services. You recognize and accept the risks associated with such
changes and agree that M2 is not responsible for any negative consequences you
may experience as a result.
2.12 Reliance on third
parties
Your utilization of the
Services and the value of certain Virtual Assets/Futures Contracts may depend
on the actions of third parties or the fulfillment of related obligations by
third parties. M2 is not accountable for the actions or inactions of such third
parties.
3 APPLICABLE LAWS AND
REGULATIONS
3.1 AML and CTF
procedures
Our anti-money laundering
(“AML”) and counter-terrorist financing (“CTF”) procedures adhere
to all applicable rules and regulations regarding AML and CTF. These standards
aim to prevent the Platform's use for money laundering or terrorist financing
activities. We take compliance seriously and are committed to taking necessary
steps to prohibit fraudulent transactions, report suspicious activities, and
actively engage in the prevention of money laundering, terrorist financing, and
other financial crimes.
3.2 Compliance with Applicable
Laws
3.2.1 By opening an Account and
using the Services in any capacity, you agree and understand that you will act
in compliance with all Applicable Laws. Failure to comply may result in the
suspension of your ability to use the Services or the closure of your
Account.
3.2.2 Your access to and use of
your Account and the Services, as well as the receipt of any fee discounts and
rebates, is subject to your continued compliance with all Applicable Laws,
including the rules and directions of any applicable Regulatory Authority and,
without limitation, all applicable tax, AML and CTF laws and regulations.
3.3 International Control and
Sanctions
(A) you are in a
Restricted Location;
(B) you are a Restricted Person;
(C) you intend to transact with
any Restricted Locations or Restricted Persons;
(D) you are located,
incorporated or otherwise established in, or a citizen or resident of a
jurisdiction where it would be illegal under Applicable Law for you (by reason
of your nationality, domicile, citizenship, residence or otherwise) to access
or use the Services; or
(E) the publication or
availability of the Services in the jurisdiction in which you are based is
prohibited or contrary to local law or regulation or could subject M2 to any
local registration or licensing requirements.
3.3.2 We may, at our sole
discretion, implement controls to restrict access to and use of the Services in
any of the Restricted Locations or in any of the circumstances referred to in
Section 3.3.1 above. If we
determine that you are accessing or using the Services from any Restricted
Location, or any of the circumstances referred to in Section 3.3.1 above apply, we
may suspend your ability to use the Services or close your Account at our
discretion.
4 QUALIFICATION
4.1 To open an Account or
utilize the Services (and to agree to the Terms), you must fulfill (and you
declare and guarantee that you do fulfill) the following eligibility
requirements:
4.1.1 You do not have your
registered office or place of residence in the US or any Restricted Location.
4.1.2 You are not a Restricted
Person nor are you a resident of a Restricted Location.
4.1.3 If you are an individual,
you must be at least 18 years old or the legal age of majority in the
jurisdiction in which you reside (whichever is higher), possess the ability to
accept the Terms, have not been previously suspended or barred from accessing
the Services or any other service or product provided by M2 or its Affiliates,
and be eligible to use the Services under Applicable Law.
4.1.4 If you are registering to
use the Services on behalf of a legal entity, then:
(A) you must be duly authorised
by such legal entity to act on its behalf for the purpose of entering
into the Terms;
(B) the legal entity must be
duly organised and validly existing under the laws of the jurisdiction of its
organisation; and
(C) the legal entity must not
have been (and each of its Affiliates must not have been) previously suspended
or removed from access to the Services or any other service or product offered
by M2 or any of its Affiliates and must be otherwise eligible to use the
Services under Applicable Law.
4.2 You will not be using the
Services for any illegal activity including, but not limited to, those
Restricted Activities listed in Section 15 below. You have
not: violated; been fined, debarred, sanctioned, the subject of economic
sanctions-related restrictions, or otherwise penalised under; received any oral
or written notice from any government concerning actual or possible violation
by you under; or received any other report that you are the subject or target
of sanctions, restrictions, penalties, or enforcement action or investigation
under, any Applicable Law (including but not limited to AML, CTF,
anti-corruption, or economic sanctions laws).
4.3 IF WE DETERMINE THAT YOU DO
NOT FULFIL ANY OF THE ABOVE CRITERIA, THEN WE MAY SUSPEND YOUR ABILITY TO USE
THE SERVICES OR CLOSE YOUR ACCOUNT AT OUR DISCRETION. WE DO NOT PROVIDE
SERVICES TO ANY RESTRICTED PERSON. IF YOU ARE A RESTRICTED PERSON, PLEASE IMMEDIATELY
STOP USING OUR SERVICES. IF YOU CONTINUE TO USE OUR SERVICES, YOU ACKNOWLEDGE
AND AGREE THAT YOU SHALL ASSUME ALL CORRESPONDING LIABILITIES UNDER THE
APPLICABLE LAWS, RULES AND REGULATIONS OF THE JURISDICTION THAT YOU ARE
RESIDENT AND/OR DOMICILED IN AND YOU SHALL INDEMNIFY US FROM UNDERTAKING ANY
LIABILITIES ARISING FROM YOUR SUCH USE BEHAVIOR, INCLUDING BUT NOT LIMITED TO
THE LOSSES, THE THIRD-PARTY CLAIMS OR ADMINISTRATIVE PENALTIES AGAINST US
INCURRED BY SUCH CONTRAVENTION, VIOLATION OR BREACH, AS WELL AS REASONABLE
LEGAL AND ADMINISTRATIVE COSTS, FEES AND EXPENSES, INCLUDING REASONABLE
ATTORNEY’S FEES.
5 REGISTRATION PROCESS;
IDENTITY VERIFICATION
5.1 During the Account
registration process, you must provide complete, accurate, current, and
non-misleading information for all required fields on the registration page,
including your full legal name. You also agree to supply us, during Account
registration and on an ongoing basis, with any additional information we
request for identity verification purposes and the detection of money
laundering, terrorist financing, fraud, or any other financial crime, such as a
copy of your government-issued photo ID or proof of residency like a lease or
utility bill. You grant us permission to retain this information and authorize
us to conduct any inquiries, directly or through third parties, that we deem
necessary to verify your identity or protect you and/or us against fraud or
other financial crime. 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 fully respond to our inquiries.
5.2 In certain situations, we
may require you to submit additional information about yourself, your business,
your source of wealth, or your transactions, provide records, and complete
other verification steps (such process, "Enhanced Due Diligence").
5.3 You represent and warrant
that any information provided to us in connection with registering your
Account, using the Services, pursuant to the Terms, or otherwise, is complete,
accurate, current, and not misleading in any way. If any such information
changes, it is your responsibility to update it promptly and provide the
updates to us.
5.4 Your access to the Services
and the limits that apply to your use of the Services may be adjusted based on
the information gathered about you on an ongoing basis.
5.5 If any information you
provided to us is deemed (or suspected to be) incomplete, inaccurate, outdated,
or misleading in any way, or you fail to promptly update any information to
ensure it remains complete, accurate, current, and not misleading, we reserve
the right to suspend your access to the Services or terminate your Account at
our discretion.
5.6 By accepting these Terms,
you expressly grant us permission to share your personal information with
select third parties. This sharing is intended to facilitate your access to
various products and services offered by M2.
5.7 We retain the right to keep
your Account registration information after you close your Account for business
and regulatory compliance purposes, subject to Applicable Laws.
5.8 We reserve the right to
maintain your Account registration information after you close your Account for
business and regulatory compliance purposes, subject to Applicable Laws.
6 YOUR ACCOUNT; SECURITY OF
USER INFORMATION
6.1 Access to your Account (and
the Services) can be obtained directly through the Site, a Mobile Application,
or any other access mode (including, but not limited to, APIs) as determined by
M2 from time to time. You can access your Account using the account names, User
IDs, passwords, and other security features ("User Credentials and
Security Passwords") provided to you by M2. You are responsible for
maintaining the confidentiality and security of all User Credentials and
Security Passwords, including enabling all relevant security features. It is
your responsibility to keep your email address up to date in your Account profile.
6.2 You must access your
Account using only your own User Credentials and Security Passwords, and ensure that no third party uses your
Account. You must not share your User Credentials and Security Passwords with
any third party. You are solely responsible for all activity on your
Account.
6.3 You agree to inform M2
immediately if you become aware of any security breach, loss, theft, or
unauthorized use of your User Credentials and Security Passwords, unauthorized
use of the Services through your Account, or any other security breach related
to the Services. M2 is not liable for any loss or damage resulting from your
failure to protect your Account or your User information. Regularly check your
Account balance and transaction history to ensure that any unauthorized or
incorrect transactions are identified and reported to us as soon as
possible.
6.4 M2 reserves the right to
suspend your use of the Services or close your Account if we suspect that the
person logged into your Account is not you or if we become aware of or suspect
any security breach, loss, theft, or unauthorized use of your User Credentials
and Security Passwords.
6.5 To access your Account (and
the Services), you must have the necessary equipment (e.g., computer or
smartphone) and internet access. You are solely responsible for your hardware
used to access the Services and are solely liable for the integrity and proper
storage of any data associated with the Services stored on your hardware. You
are responsible for protecting your hardware and data from viruses and
malicious software, as well as any inappropriate material. Except as provided
by Applicable Law, you are solely responsible for backing up and maintaining
duplicate copies of any information you store or transfer through our Services.
Neither M2 nor any other Indemnified Party (as defined in Section 31) is liable to you for: (i) hardware failures, damages, or destruction or corruption
or loss of any records or data stored on your hardware for any reason; (ii) any
damage or interruptions caused by computer viruses, spyware, or other malware
that may affect your computer or other equipment, or any phishing, spoofing, or
other attack; or (iii) your use of the internet to connect to the Services or
any technical problems, system failures, malfunctions, communication line
failures, high internet traffic or demand, related issues, security breaches,
or similar technical problems or defects experienced.
7 ACCOUNT FUNDING
7.1 Funding - General
7.1.1 To fund your Account and
start transacting in Virtual Assets using the Platform, you must first acquire
Virtual Assets (or deposit Virtual Assets that you already own into your
Account) and/or load Fiat Currency into your Account. To fund your Futures Account
or Earn Account, you must transfer Virtual Assets and/or Fiat Currency from
your Account to your Futures Account or Earn Account (as applicable).
7.1.2 You should be aware that
M2: (i) might not support the loading and/or storing
of Fiat Currency in your Account in all jurisdictions; and (ii) does not
support the use of all Fiat Currencies. A list of Fiat Currencies supported by
M2 can be found at the Site. This list may be amended from time to time by M2
at its sole discretion.
7.1.3 You can deposit Fiat
Currency and/or Virtual Assets into your Account in such manner as shall be
prescribed by M2 and published via the Platform or email for the purpose of
using the Services. Fiat Currency and/or Virtual Assets will be considered
deposited only after M2 has confirmed and approved the deposit.
7.1.4 Any available Assets in
your Account can be locked and utilized as collateral for margin trading or to finance
trades concerning any Services or parts thereof provided through the Platform
by M2 or its Affiliates.
7.2 Virtual Assets
7.2.1 The Platform supports
deposits and withdrawals of specific Virtual Assets, including certain U.S.
Dollar-pegged stablecoins (each a "USD Stablecoin"). You may
deposit Virtual Assets that you already own into your Account by generating an
address within your Account and sending your Virtual Assets to that address,
after which they should appear in your Account balance.
7.2.2 You may acquire Virtual
Assets in exchange for certain supported Fiat Currencies (depending on your
location) by connecting a valid payment method to your Account. In such cases,
you authorize us to debit the relevant amount of Fiat Currency using your chosen
payment method(s) to complete your purchase.
7.2.3 The Platform allows you to
exchange one Virtual Asset for another Virtual Asset, send Virtual Assets to
and receive Virtual Assets from other Users of the Services, or third parties
outside of the Platform (where permitted by M2 in its sole discretion).
7.2.4 You may sell Virtual Assets
in exchange for certain supported Fiat Currencies (depending on your location).
In such cases, you authorize us to debit your Account and send instructions to
credit your selected payment method(s) in settlement of sell transactions.
7.2.5 M2 makes no representations
or warranties regarding the time, transaction fees, or other requirements that
may be necessary to complete the transfer of your Virtual Assets to or from a
third-party wallet or other source and for said Virtual Assets to become
available in your Account.
7.2.6 All Virtual Assets are held
in your Account on the following basis:
(A) Title to your Virtual
Assets remains with you at all times and
does not transfer to M2. As the owner of Virtual Assets in your Account, you
bear all risk of loss of such Virtual Assets. M2 has no liability for fluctuations
in the Fiat Currency value of Virtual Assets held in your Account.
(B) None of the Virtual Assets
in your Account are the property of M2. M2 does not represent or treat Virtual
Assets in User’s Accounts as belonging to M2.
(C) You control the Virtual
Assets held in your Account. At any time, subject to outages, downtime, and
other applicable policies (including the Terms), you may withdraw your Virtual
Assets by sending them to a different blockchain address controlled by you or a
third party.
7.2.7 M2 is not obligated to
issue any replacement Virtual Asset if any Virtual Asset, password, or private
key is lost, stolen, malfunctioning, destroyed, or otherwise
inaccessible.
7.2.8 It is your responsibility
to ensure that you send all Virtual Assets to the correct address provided for
that specific Virtual Asset, including with respect to any Virtual Assets that
you send to the Platform. If you send a Virtual Asset to an address that does
not correspond to that exact Virtual Asset (such as an address not associated
with your Account or the specific Virtual Asset sent), such Virtual Asset may
be lost forever. By sending any Virtual Assets to the Platform, you attest that
you will only send a supported Virtual Asset to the Platform wallet address
provided to you. For example, if you select an ETH Platform wallet address to
receive funds, you attest that you are initiating an inbound transfer of ETH
alone, and not any other forms of Virtual Assets. You agree that M2 incurs no
obligation whatsoever with regards to sending unsupported Virtual Assets to an
address provided to you on the Platform. Similarly, if you send a Virtual Asset
from your Account to an external address that does not correspond to that exact
Virtual Asset, such Virtual Asset may be lost forever.
7.2.9 You assume all liability
for any Losses (as defined in Section 31) incurred as a result of sending Virtual Assets to an incorrect
address (such as typos, errors, copy-paste attacks, or an address not
associated with your Account, or an address not associated with the specific
Virtual Asset). You are solely liable for verifying the accuracy of any
external wallet address and the identity of the recipient. All outbound
transfers of Virtual Assets cannot be reversed once they are broadcast to the
underlying blockchain network. M2 does not control any blockchain network and
cannot guarantee that any transfer will be confirmed or transferred
successfully by the network. M2 is not responsible for any losses or for taking
any actions to attempt to recover any lost, stolen, misdirected, or
irrecoverable Virtual Assets. If the Virtual Assets are recoverable, we may in
our sole discretion attempt to recover them, but such recovery efforts are in
no way guaranteed. Please be aware that if you attempt to deposit ETH to your
Account by sending it via a smart contract, your ETH may not be automatically
credited, and may take time to recover, and may not be recovered at all.
7.2.10 When you elect to transfer
Virtual Assets from your Account to a third-party wallet address or other
location, it is always possible that the party administering the new location
may reject your transfer or that the transfer may fail due to technical or other
issues affecting the Platform. You agree that you shall not hold M2 liable for
any damages arising from a rejected or failed transfer.
7.2.11 You hereby represent and
warrant to us that any Virtual Assets used by you in connection with the
Services (including any Virtual Assets used to fund your Account) are either
owned by you or that you are validly authorized to carry out transactions using
such Virtual Assets, and that all transactions initiated with your Account are
for your own Account and not on behalf of any other person.
7.2.12 It is your responsibility
entirely to provide us with correct details of any withdrawal address. We
accept no liability resulting in you or any third party not receiving Virtual
Assets withdrawn by you due to you providing incorrect, erroneous, incompatible,
or out-of-date details.
7.3 Fiat Currency
7.3.1 As indicated on the Site or
in a Service Schedule, based on your location, the Platform may support various
Fiat Currencies for deposit, withdrawal, and/or trading via wire transfers,
credit cards, or other suitable methods.
7.3.2 Upon receiving Fiat
Currency that you deposit into your Account, we may issue you an equivalent
amount of electronic money ("E-Money") denominated in the
relevant Fiat Currency, which represents the deposited Fiat Currency. This
amount will be shown in your Account.
7.3.3 E-MONEY IS NOT LEGAL
TENDER. M2 IS NOT A DEPOSITORY INSTITUTION AND YOUR E-MONEY IS NOT A DEPOSIT OR
INVESTMENT ACCOUNT. YOUR E-MONEY ACCOUNT IS NOT INSURED BY ANY PUBLIC OR
PRIVATE DEPOSIT INSURANCE AGENCY.
7.3.4 Your Account will not
accrue any interest on the E-Money it holds. Your Account may contain E-Money
in multiple currencies, and the E-Money balance for each currency will be
displayed.
7.3.5 You may acquire Virtual
Assets using E-Money credited to your Account, depending on your location. To
execute a Virtual Asset purchase with E-Money, follow the relevant instructions
on the Site. You authorize us to deduct E-Money from your Account to complete
the purchase. Although we will strive to deliver Virtual Assets to you
promptly, E-Money may be deducted from your Account before Virtual Assets are
credited to your Account.
7.3.6 You may sell Virtual Assets
in exchange for specific Fiat Currencies, depending on your location. To
execute a Virtual Asset sale, follow the relevant instructions on the Site. You
authorize us to debit Virtual Assets from your Account and instruct us to
credit your Account with the appropriate amount of Fiat Currency. Upon
receiving the Fiat Currency, we will issue you an equivalent amount of E-Money
in the relevant Fiat Currency.
7.3.7 You may redeem any or all
E-Money in your Account at any time, subject to outages, downtime, and other
applicable policies (including the Terms), by choosing the appropriate option
on the Site and following the instructions. Unless otherwise agreed, funds will
be transferred to the bank account you have registered with us. You represent
and warrant that this bank account belongs to you and that you have full
control over it. Providing us with accurate withdrawal account details is
entirely your responsibility. We are not liable for any failure to receive
withdrawn amounts due to incorrect or outdated details provided by you.
7.3.8 If the Terms are
terminated, we may redeem any remaining E-Money in your Account and attempt to
transfer the equivalent Fiat Currency amount to the bank account you have
registered with us. Before redeeming E-Money from your Account, we may conduct
checks to prevent fraud, money laundering, terrorist financing, and other
financial crimes and comply with Applicable Law. This may delay or prevent you
from withdrawing E-Money until those checks are satisfactorily completed in
compliance with our regulatory requirements.
8 STATEMENTS
8.1 M2 will not physically send
out statements. Instead, you may view your near-real time statement at any time
upon logging into your Account. You may also download PDF statements of a
requested period via your Account.
8.2 Statements will include the
following:
8.2.1 your Available Balance
reported by reference to the Virtual Assets, Futures Contracts and/or Fiat
Currency held, or the relevant exchange rate if not reported in the currency in
which the money is held;
8.2.2 the amount, date and value
of each transaction during the past month;
8.2.3 any Fees that might from
time to time be charged on your Account since the previous statement.
8.3 Statements will be
accessible for up to 7 years after your Account is closed, however we recommend
that you download and store your statements locally on a regular basis.
9 UNCLAIMED OR ABANDONED
PROPERTY
9.1 If M2 holds Assets in
your Account and we cannot contact you for an extended
period of time of no less than 12 months, have no record of your use of the
Services for an extended period ("Unclaimed or Abandoned Assets"),
Applicable Laws may require us to report such Unclaimed or Abandoned Assets as
unclaimed property to the relevant jurisdiction. In this case, M2 will attempt
to locate you using the information in our records related to your Account. If
M2 cannot locate you, we may be required to deliver any Unclaimed or Abandoned
Assets to the relevant jurisdiction as unclaimed property. M2 reserves the
right to deduct dormancy fees or other administrative charges from such
Unclaimed or Abandoned Assets, as permitted by Applicable Laws.
9.2 If M2 holds Unclaimed or
Abandoned Assets in your Account and we cannot contact you, have no record of
your use of the Services for an extended period, or your Account is closed, and
Applicable Laws do not mandate us to report such Unclaimed or Abandoned Assets
as unclaimed property to the relevant jurisdiction, then you acknowledge and
agree that your Account may be transferred to M2 or an Affiliate of M2 as
trustee of the Unclaimed or Abandoned Assets. M2 or the Affiliate of M2 (as
applicable) will hold the Unclaimed or Abandoned Assets on your behalf as
trustee and shall, upon request, repay you the Unclaimed or Abandoned Assets,
subject to your payment of any dormancy fees or other administrative charges
that the trustee may deduct from the Unclaimed or Abandoned Assets. If you make
no such demand, the trustee may deposit the Unclaimed or Abandoned Assets with
the court in the applicable jurisdiction according to Applicable
Laws.
9.3 If we receive legal
documentation confirming your death or other information leading us to believe
you have died, we will freeze your Account, and during this time, no
transactions may be completed until: (i) your
designated fiduciary opens a new Account, as described below, and the entirety
of your Account has been transferred to such new account, or (ii) we have
received proof in a form satisfactory to us that you have not died. If we have
reason to believe you may have died but lack satisfactory proof of your death,
you authorize us to make inquiries, directly or through third parties, that we
deem necessary to determine whether you have died. Upon receipt of proof
satisfactory to us that you have died, the fiduciary you designated in a valid
will or similar testamentary document must open a new Account. If you have not
designated a fiduciary, we reserve the right to: (i)
treat as your fiduciary any person entitled to inherit your Account, as
determined by us upon receipt and review of the documentation we, in our sole
and absolute discretion, deem necessary or appropriate, including (but not
limited to) a will, a living trust, or other similar documentation, or (ii)
require a court order designating a fiduciary from a court having competent jurisdiction
over your estate. If we determine, in our sole and absolute discretion, that
there is uncertainty regarding the validity of the fiduciary designation, we
reserve the right to require a court order resolving such issue from a court of
competent jurisdiction before taking any action related to your Account.
Pursuant to the above, your designated fiduciary must open a new Account
following your death, and you agree that your fiduciary will be required to
open a new Account to access the contents of your Account.
10 DEBIT ACCOUNT BALANCE
10.1 If your Account has a debit
balance at any time, you agree to pay us: (i) the
applicable fees listed in the Fee Schedule; (ii) the total debit balance; and
(iii) other amounts specified in the Terms.
10.2 If you fail to pay these
amounts, we may suspend your use of the Services or close your Account. We also
reserve the right to debit your Account accordingly and/or withhold amounts
from Fiat Currency, Futures Contracts and Virtual Assets that you may transfer
to your Account.
10.3 If, following a demand from
M2, you have not paid the outstanding debit balance by the specified deadline,
then:
10.3.1 you authorize us to sell
any Virtual Assets or Futures Contracts or redeem any Fiat Currency or E-Money
in your Account to recover the outstanding debit balance;
10.3.2 you agree to indemnify us
and each other Indemnified Party against all Losses that we suffer or incur due
to your failure to pay the outstanding debit balance; and
10.3.3 you will be liable for all
costs we incur in relation to engaging a collection agency, law firm, or other
third party to assist with and advise on the collection of such outstanding
debit balance (where applicable).
11 ORDER BOOK AND
CONVERT
11.1 M2 operates Order Books
where Users can place Orders to be matched with Orders from other Users. M2 may
offer various Order types at its sole discretion, including but not limited to
"market," "limit," "stop-loss limit,"
"stop-loss market," "trailing stop," and "take profit
limit" orders. M2 may issue trading rules from time to time that apply to
Orders placed on the Order Book, in addition to these General Terms.
11.2 The “Convert”
function on the Platform also allows you to submit instructions ("Convert
Instructions") to exchange (buy or sell) one spot Virtual Asset for
another Virtual Asset or for Fiat Currency. Each Convert transaction is subject
to the applicable “Exchange Rate” quoted for the given transaction and the
applicable time limits for such quote. The "Exchange Rate"
means the price of a given Virtual Asset as quoted on your "Wallet"
page on the Site or any Mobile Application. The Exchange Rate is stated either
as a "Buy Price" or as a "Sell Price", which
is the price at which you may buy or sell the Asset, respectively.
11.3 The Exchange Rate provided
depends on market conditions, and you are not obligated to carry out a Convert
transaction at any Exchange Rate offered to you. You acknowledge that the Buy
Price Exchange Rate may differ from the Sell Price Exchange Rate at any given
moment, and that a 'spread' may exist in the quoted Exchange Rate. You agree to
accept the Exchange Rate when you authorize a Convert transaction.
11.4 We do not guarantee the
availability of any Exchange Rate and we do
not guarantee that you will be able to buy and/or sell your Assets using
Convert or on the Order Book at any specific price or time.
11.5 You are solely responsible
for accurately entering any Order or Convert Instruction, including but not
limited to all the required information in order for us
to execute any Order or Convert Instruction. M2 is not obligated to verify the
accuracy or completeness of any such information, Order, or Convert
Instruction.
11.6 You agree that any Order or
Convert Instruction received or carried out through your Account shall be
deemed final and conclusive, and that M2 may act upon such Order or Convert
Instruction. We are not required to verify the identity or authority of any person
providing any Order or Convert Instruction or the authenticity of such Order or
Convert Instruction.
11.7 Your Orders and Convert
Instructions are irrevocable and unconditional and are binding on you, and such
Orders and Convert Instructions may be acted or relied upon by us regardless of
any other circumstances. As a result, once you issue any Order or Convert
Instruction, you have no right to rescind or withdraw such Order or Convert
Instruction without our written consent.
11.8 Each of your Orders and
Convert Instructions will not be considered received by M2 until M2's server
has received it. M2's records of all Orders and Convert Instructions shall be
conclusive and binding on you for all purposes.
11.9 Under no circumstances will
any of the Indemnified Parties be responsible or liable to you for any Losses
incurred by you or any other person as a result of any of the
Indemnified Parties relying or acting upon any Order or Convert Instruction
given or purported to be given by you, regardless of the circumstances
prevailing at the time of such Order or Convert Instruction.
11.10 You authorize M2 to credit or
debit (or provide settlement information to third parties for the purposes of
the third party crediting or debiting) your
Assets from your Account following your Orders and Convert Instructions. We
reserve the right not to execute any transaction if you have insufficient
Assets in your Account.
12 EXECUTION ONLY SERVICE
12.1 Exchange Services are
provided on an execution only basis. M2 is not required to assess the
suitability of your investments when accepting instructions or Orders from you,
neither is it responsible for any loss or damage suffered by
you. You will instead rely on your own judgement, and you will need
to assess each transaction on your own and M2 will not assist you in that
assessment. In addition, by entering into the
transaction on an execution only basis, you expressly confirm that M2 made no
representations, recommendations, or suggestions to you and you have not relied
on any research or information you have received from M2 or any of our
Affiliates in connection with that transaction.
12.2 M2 will not provide
you with any investment, legal, regulatory or other form of advice and you will
not be entitled to ask us to provide you with investment advice relating to a
transaction or make any statement of opinion to encourage you to open a
particular transaction. You may wish to seek independent advice in relation to
any transaction you propose to enter into under
these Terms.
13 THIRD PARTY PERMISSIONS TO
CONNECT TO OR ACCESS YOUR ACCOUNT
If you provide explicit
authorization for a third party to access your Account, either via their
product or through the Platform, you recognize that allowing a third party to
perform specific tasks on your behalf does not exempt you from any obligations under
the Terms. Additionally, you acknowledge and agree that you will not hold M2
accountable for, and will indemnify M2 against, any liability resulting from
the actions or lack of action by such third party in relation to the
permissions you have granted.
14 ACCOUNT SUSPENSION AND
CLOSURE; SERVICE SUSPENSION AND TERMINATION
14.1 M2 reserves the right, at its sole and absolute
discretion and at any time, without liability to you or any third party, to:
14.1.1 refuse to let you open an
Account, suspend your Account, or terminate your Account;
14.1.2 decline to process any
instruction or Order submitted by you; and/or
14.1.3 limit, suspend or terminate
your use of one or more, or part of, the Services.
14.2 Such actions will not
relieve you from your obligations pursuant to the Terms.
14.3 Such actions may be
taken as a result of a
number of factors, including without limitation:
14.3.1 as a
result of account inactivity, your failure to respond to customer support
requests, our failure or inability to positively identify you;
14.3.2 as a
result of a court order or your violation of Applicable Laws or the Terms;
or
14.3.3 where we believe that a
transaction is suspicious or may involve fraud, money laundering, terrorist
financing or other misconduct
14.3.4 or
failure by you to meet any Minimum Requirements that M2 may establish
and communicate to you pursuant to Section 14.11 below.
14.4 If you do not agree with
any actions taken by us under Section 14.1, then your sole and
exclusive remedy is to terminate your use of the Services and close your
Account. You agree that neither we nor any other Indemnified Party shall be
liable to you or any third party for any Losses suffered as a
result of any actions taken by us under Section 14.1.
14.5 Without limiting the
foregoing, we may temporarily suspend access to your Account if technical
issues cause a system outage or Account errors until the problem is
resolved.
14.6 When required by Applicable
Laws, we will promptly notify you if we have suspended processing your Orders
or Convert Instructions, provide our reasons for doing so, and inform you of
any steps needed to rectify the situation causing the suspension.
14.7 You may request to close
your Account or terminate your access to and use of the Services at any time,
in accordance with the Terms, by contacting us for assistance. You cannot close
an Account if we determine, at our sole discretion, that such closure is an attempt
to evade legal or regulatory investigation or to avoid paying amounts due to M2
or its Affiliates.
14.8 We recommend withdrawing
any remaining balance of Assets before requesting to close your Account. We
reserve the right to limit or deny withdrawals from your Account if:
14.8.1 your Account has otherwise
been suspended or closed by us in accordance with the Terms;
14.8.2 to do so would be
prohibited by Applicable Laws or court order, or we have; or
14.8.3 determined that the Assets
in your Account were obtained fraudulently.
14.9 Upon closure or suspension
of your Account, you authorise M2 to cancel or suspend pending
transactions.
14.10 Notwithstanding that you or
M2 closes or deactivates your Account or terminates or suspends your access to
and use of any Services, or the termination or expiry of the Terms, you shall
remain liable for all activity conducted with or in connection with your
Account while it was open, and for all amounts due in connection with such
activity.
14.11Without
prejudice to any other provision in these Terms granting M2 the right to take
immediate action, M2 reserves the right, acting in its sole discretion, to
require you to maintain a minimum level of activity on the Platform or a
minimum balance in your Account (together, the “Minimum Requirements”).
Any applicable Minimum Requirements shall be determined and communicated to you
by M2 from time to time. If you fail to meet any applicable Minimum
Requirements, M2 may, at its sole discretion, provide you with notice and a period of time (to be determined by M2 but shall be no
less than 30 days) to bring your Account into compliance or to close your
Account. During this period, you must either satisfy such Minimum Requirements
or initiate the withdrawal of your Assets and request Account closure pursuant
to Section 14.7 above. If you fail to take either action within the specified
period, M2 reserves the right, without further notice, to: (i)
suspend or close your Account; (ii) restrict your deposits or withdrawals;
and/or (iii) charge applicable fees for maintaining your Account. The amount
and terms of such fees will be determined by M2 and may be updated from time to
time in accordance with Section 25 (Fees).
15 RESTRICTED ACTIVITIES
In connection with your use
of the Services, you agree that you will not:
15.1.1 breach or aid anyone in
breaching any Applicable Laws or rules of any self-regulatory or similar
organization that you are, or are required to be, a member of through your use
of the Services;
15.1.2 provide false, inaccurate,
incomplete, out-of-date or misleading information;
15.1.3 violate M2's or any third
party's copyrights, patents, trademarks, or other intellectual property rights;
15.1.4 participate in any illegal
activities, including but not limited to illegal gambling, money laundering,
fraud, blackmail, extortion, ransom activities, financing terrorism, other
violent actions, or any prohibited market practices;
15.1.5 distribute unsolicited or
unauthorized advertising or promotional content, press releases, public
statements and disclosures, junk mail, spam, or chain letters;
15.1.6 use a web crawler or
similar technique to access our Services or to extract data;
15.1.7 reverse engineer or
disassemble any aspect of the Site, the API, or the Services in
an effort to access any source code, underlying ideas and concepts
and algorithms;
15.1.8 perform any unauthorised
vulnerability, penetration or similar testing on the API or Services;
15.1.9 take actions that impose an
unreasonable or disproportionately large burden on our infrastructure, or
negatively interfere with, intercept, or expropriate any system, data, or information;
15.1.10 transmit or upload any
material to the Site that contains viruses, Trojan horses, worms, or any other
harmful or deleterious programs;
15.1.11 otherwise attempt to gain
unauthorised access to or use of the Site, the API, other M2 Accounts, computer
systems, or networks connected to the Site, through password mining or any
other means;
15.1.12 transfer any rights granted
to you under the Terms, except in accordance with Section 39;
15.1.13 engage in any activity
that, in our reasonable opinion, constitutes or may constitute market abuse,
including but not limited to fictitious transactions, wash trades,
front-running, or disorderly market conduct;
15.1.14 engage in any behaviour
which is unlawful, violates the Terms, or is otherwise deemed unacceptable by
M2 in its sole discretion; or
15.1.15 assist, facilitate or
encourage any third party in undertaking any activity otherwise prohibited by
the Terms.
16 ELECTRONIC TRADING
TERMS
16.1 M2 may, in its sole
discretion, choose to discontinue support for a currently listed or supported
Virtual Asset/Futures Contract at any time, including without limitation where
there are changes in the characteristics of such Virtual Asset or the underlying
Virtual Asset of such Futures Contract.
16.2 Several factors may cause a
transaction on the Platform to fail, including, but not limited to, price
changes, insufficient margin, or unexpected technical issues. M2 does not
guarantee that any transaction will be executed correctly. We are not liable for
any loss or damage caused by a transaction's failure to complete properly or
promptly. Although you can view any such failures through your Account, we are
not obligated to notify you of a transaction failure. You are solely
responsible for investigating and determining the cause of any failed
transaction you initiate.
16.3 If you receive any data,
information, or software through our Services that you are not entitled to
receive under the Terms, you must notify us immediately and refrain from using
such data, information, or software in any manner. If you request a withdrawal
of Virtual Assets and we cannot fulfill it without closing some of your open
positions, we will not comply with the request until you have closed enough
positions to allow the withdrawal.
16.4 We may, at any time and without
notice, refuse to execute a trade or impose trade amount limits or restrictions
at our sole discretion. Specifically, we reserve the right to refuse to
process, cancel or reverse any transaction, as well as revoke access to
a User's deposit address on the Platform, if we suspect the
transaction involves money laundering, terrorist financing, fraud, or any other
crime, or if we suspect the transaction is related to a prohibited use as
stated in the Terms. M2 reserves the right to halt deposit and/or withdrawal
activity at our sole discretion. A User cannot modify, withdraw, or cancel
their authorization to make a transaction, except for partially filled Orders.
16.5 M2 may correct, reverse, or
cancel any trade affected by a processing error in a User's transaction
or otherwise. The User's recourse in case of an error is limited to seeking the
cancellation of an Order or Convert Instruction or requesting a refund of any
charged amounts. M2 cannot guarantee that cancellations or refunds will always
be possible.
16.6 Orders placed on the Order
Book may be partially filled or may be filled by one or more Orders placed on
the Order Book by other Users on a price-time priority basis depending on the
trading activity on the Order Book when an Order is placed.
16.7 Virtual Assets available
for purchase through the Platform may experience high or low transaction
volume, liquidity, and volatility at any time, possibly for extended periods.
You acknowledge that while M2 uses commercially reasonable methods to provide
Exchange Rate information to you through the Platform, the Exchange Rate
information we provide may differ from prevailing exchange rates offered by
third parties. Likewise, the actual market rate at the time of your trade may
differ from the indicated Exchange Rate. You agree to assume all risks and
potential losses associated with price fluctuations or differences between
actual and indicated Exchange Rates.
17.1 This Section 17 applies only to the
extent you are permitted to engage in margin trading on the Platform. Margin
trading is prohibited in certain jurisdictions, and you may not be able to
engage in margin trading on the Platform. We reserve the right to amend and/or
remove margin trading functionality at any time.
17.2 Margin trading is HIGH
RISK. As a borrower, you may experience a total loss of Assets or owe Assets
beyond what you have deposited in your Account. High volatility and significant
illiquidity risks in markets may make it difficult to liquidate your position.
You agree to maintain sufficient Assets in your Account
at all times to meet our margin requirements, which may change
periodically. If the value of your Account's Assets falls below the margin
maintenance requirement or we decide, at our sole discretion, that your Account
is at risk of defaulting on a loan, we may seize and/or liquidate any or all of your positions and Assets in your Account to
reduce your leverage or repay your debt to other Users. In this case, you may
suffer a total loss of all Assets in your Account. If, after liquidation, your
Account still lacks sufficient Assets to repay your debts to other Users, you
are responsible for providing any additional Assets owed. Intentionally
defaulting on a loan may result in reporting your activities to authorities
and/or legal prosecution.
17.3 Certain market conditions
may make it difficult or impossible to liquidate a position. This could occur
if there is insufficient market liquidity or due to technical issues on the
Platform. Placing contingent Orders, such as "stop-loss" or "stop-limit"
Orders, may not limit your losses to the intended amounts, as market conditions
may prevent the execution of such Orders or result in slippage. In this
situation, our backstop liquidity provider program might come into play, but there
is no assurance or guarantee that any such program activities will be
sufficient or effective in liquidating your position. Consequently, you may
lose all your Assets or incur a negative balance in your Account. Additionally,
even if you have not experienced any liquidations or losses, your Account
balance may be subject to clawback due to losses suffered by other users.
17.4 The use of leverage can
work against you as well as for you and can lead to large losses as well as
gains. Users conduct all trading, margin trading, lending, and/or borrowing on
their own account and we do not take any responsibility for any loss or damage
incurred as a result of your use of any
Services or your failure to understand the risks associated with margin trading
on the Platform.
18.1 As a result of the decentralised and open-source
nature of Virtual Assets it is possible that sudden, unexpected, controversial
or other changes ("Forks") can be made to any Virtual Asset
that may change the usability, functions, compatibility, value or even name of
a given Virtual Asset. Such Forks may result in multiple versions of a Virtual
Asset and could lead to the dominance of one or more such versions of a Virtual
Asset (each a "Dominant Virtual Asset") and the partial or
total abandonment or loss of value of any other versions of such Virtual Asset
(each a "Non-Dominant Virtual Asset").
18.2 M2 is under no obligation
to support a Fork of a Virtual Asset that you hold in your Account, whether or not any resulting version of such forked
Virtual Asset is a Dominant Virtual Asset or Non-Dominant Virtual Asset or
holds value at or following such Fork. Forks of Virtual Assets can be frequent,
contentious and unpredictable, and therefore cannot be consistently supported
on the Platform. When trading or holding Virtual Assets using your Account, you
should operate under the assumption that the Platform will never support any
Fork of such Virtual Asset.
18.3 If M2 elects, in its sole
discretion, to support a Fork of a Virtual Asset, it may choose to do so by
making a public announcement through its Site or otherwise notifying customers
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 M2, in its sole discretion, does not elect to support a Fork of a
given Virtual Asset, including the determination to support, continue to
support, or cease to support any Dominant Virtual Asset or Non-Dominant Virtual
Asset, M2 assumes no responsibility or liability whatsoever for any losses or
other issues that might arise from an unsupported Fork of a Virtual
Asset.
18.5 In the event of a Fork of a
Virtual Asset, we may be forced to suspend all activities relating to such
Virtual Asset (including trades, deposits, and withdrawals) on the Platform for
an extended period of time, until M2 has
determined in its sole discretion that such functionality can be restored
("Downtime"). This Downtime may occur at the time that a Fork
of a given Virtual Asset occurs, potentially with little to no warning. During
such Downtime, you understand that you may not be able to trade, deposit, or
withdraw the Virtual Asset subject to such Fork. M2 does not bear any liability
for losses incurred during any Downtime due to the inability to trade or
otherwise transfer Virtual Assets.
19 ATTACKS ON BLOCKCHAIN
NETWORKS
19.1 M2 cannot prevent or
mitigate attacks on blockchain networks and has no obligation to engage in
activity in relation to such attacks. In the event of an attack, M2 reserves
the right to take (or to not take) actions, including, but not limited to,
immediately halting trading, deposits and withdrawals for a Virtual Asset if we
believe that the Virtual Asset's network is compromised or under attack. If
such an attack caused the Virtual Asset or an associated Futures Contract to
greatly decrease in value, we may discontinue trading in such Virtual
Asset/Futures Contract entirely.
19.2 Resolutions concerning
deposits, withdrawals and User balances for a Virtual Asset that has had its
network attacked will be determined on a case-by-case basis by M2 in its sole
discretion. M2 makes no representation and does not warrant the safety of the Services and you assume all liability for any lost
value or stolen property.
20 SITE; THIRD PARTY CONTENT
20.1 M2 strives to provide
accurate and reliable information and content on the Site, but such information
may not always be correct, complete, or up to date. You should always carry out
your own independent appraisal and investigations in relation to such information
and not rely on it in any way.
20.2 The Site may also contain
links to third party Sites, applications, events or other materials ("Third
Party Content"). Such information is provided for your convenience and
links or references to Third Party Content do not constitute an endorsement by
M2 of any products or services. M2 makes no representation as to the quality,
suitability, functionality or legality of Third Party Content,
or to any goods and services available from third party Sites, and M2 shall
have no liability for any losses incurred as a result of
actions taken in reliance on the information contained on the Site or in any Third Party Content.
20.3 We have no control over, or
liability for, the delivery, quality, safety, legality or any other aspect of
any goods or services that you may purchase from a third party (including other
Users of the Platform). We are not responsible for ensuring that a third party buyer or seller you transact with will
complete the transaction or is authorised to do so. If you experience a problem
with any goods or services purchased from, or sold to, a third party purchased
using Virtual Assets in connection with the Services, you must resolve the
dispute directly with that third party.
21 AVAILABILITY
21.1 We do not represent that
you will be able to access your Account or the Services 100% of the time. Your
Account and the Services are made available to you without warranty of any
kind, either express or implied. There are no guarantees that access will not
be interrupted, or that there will be no delays, failures, errors, omissions or
loss of transmitted information. This could result in the inability to trade on
the Platform for a period of time and may
also lead to time delays. We may, from time to time, suspend access to your
Account and the Services, for both scheduled and emergency maintenance.
21.2 You acknowledge and agree
that neither M2 nor any other Indemnified Party shall have any liability to you
or any third party for the correctness, quality, accuracy, security,
completeness, reliability, performance, timeliness, pricing or continued availability
of the Services or for delays or omissions of the Services, or for the failure
of any connection or communication service to provide or maintain your access
to the Services, or for any interruption in or disruption of your access or any
erroneous communications between M2 (or any other Indemnified Party) and you,
regardless of cause.
21.3 M2 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. In addition, M2
may determine not to make the Services, in whole or in part, available to you,
depending on your location. If you travel to a Restricted Location, our
Services may not be available and your access to our Services may be blocked.
You acknowledge that this may impact your ability to trade on the Platform
and/or monitor any existing Orders or open positions or otherwise use the
Services. You must not attempt in any way to circumvent any such restriction,
including by use of any virtual private network to modify your internet
protocol address.
22 RIGHT TO CHANGE, SUSPEND OR DISCONTINUE SERVICES
22.1 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 advise you of any such changes,
suspensions or discontinuations via your Account or the other contact details
that you have provided to us but shall have no obligation to do so.
22.2 If you do not agree with
any change, suspension, or discontinuance of any aspect of the Services, then
your sole and exclusive remedy is to terminate your use of the Services and
close your Account. You agree that neither we nor any other Indemnified Party
shall be liable to you or any third party for any Losses suffered as a result of any such changes, suspensions,
discontinuations or decisions.
23 INTELLECTUAL PROPERTY
23.1 You acknowledge and agree
that M2 is the sole owner (except to the extent owned by third-party licensors including
any third-party technology providers), of all rights, title and interest in and
to the IP Rights. You have, and will obtain, no rights in or to IP Rights,
except for those limited rights licensed to you.
23.2 You must not:
23.2.1 alter, maintain, enhance or
otherwise modify the Platform (or attempt to do so); or
23.2.2 disassemble, decompile,
reverse-engineer, copy, bug fix, correct, update, transfer, broadcast (or in
each case, attempt to do so) or create derivative works based on the Platform.
23.3 Subject to your compliance
with the terms and conditions of this Agreement, you are granted a limited,
revocable, non-exclusive, royalty-free and non-transferable license to access
and use the Platform to access and use the Services in a manner consistent
with, these Terms.
23.4 Unless otherwise specified,
all materials on or accessible via the Platform are the property of M2 and are
protected by copyright, trademark and other Applicable Laws. You may view,
print and/or download a copy of the materials from the Platform solely for your
personal, informational and/or non-commercial use, provided you comply with all
copyright and other proprietary notices.
23.5 The trademarks, service
marks and logos of M2 and others used in connection with the Platform are the
property of M2. The software, text, images, graphics, data, prices, trades,
charts, graphs, video and audio used on the Platform belong to M2. Trademarks
and materials must not be copied, reproduced, modified, republished, uploaded,
posted, transmitted, scraped, collected or distributed in any form or by any
means, whether manual or automated. The use of any such materials on any other
Site or networked computer environment for any other purpose is strictly
prohibited; any such unauthorised use may violate copyright, trademark and
other Applicable Law.
24.1 We reserve the right to
amend any part of the Terms, at any time, by posting the revised version of the
Terms on the Site, with an updated revision date. The changes will become
effective, and shall be deemed accepted by you, the first time you use the
Services after the initial posting of the revised Terms and shall apply on a
going-forward basis with respect to transactions initiated after the posting
date. You acknowledge that it is your responsibility to check the Terms
periodically for changes.
24.2 If you do not agree with
any amendments to the Terms, your sole and exclusive remedy is to
terminate yor use of the Services and close
your Account. You agree that neither we nor any other Indemnified Party shall
be liable to you or any third party for any Losses suffered as a result of any amendment of the Terms.
25 FEES
25.1 In consideration for the
use of the Services, you agree to pay to M2 the appropriate fees, as set forth
in our Fee Schedule displayed on the Site, which M2 may revise or update in its
sole discretion from time to time. Such fees may include, but are not limited
to, trading fees, deposit/withdrawal fees, transaction fees, account
maintenance fees, inactivity fees, and fees related to your failure to meet
Minimum Requirements as described in Section 14.11, including any fees
applicable after the expiry of a notice period as outlined in Section 14.11. If
you do not agree with any amendments to the Fee Schedule, your sole and
exclusive remedy is to terminate your use of the Services and close your
Account.
25.2 On request, M2 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 M2 in its sole discretion from time to
time.
25.3 You authorise M2 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. M2M2M2
26 TAXES
26.1 You will be able to see a
record of your transactions via your Account which you may wish to use for the
purposes of making any required tax filings or payments. It is your
responsibility to determine what, if any, taxes apply to your activities on the
Platform, and to collect, report, and remit the correct tax to the appropriate
tax authority.
26.2 M2 is not responsible for
determining whether taxes apply to your transaction, or for collecting,
reporting, or remitting any taxes arising from any transaction.
27 RIGHT TO USE SERVICES; API
USE; THIRD PARTY APPLICATIONS
27.1 License
27.1.1 M2 grants you a limited,
non-exclusive, non-sublicensable, and non-transferable license, subject to the
Terms, to access and use the Services solely for approved purposes as
determined by M2. Any other use of the Services is expressly prohibited. M2 and
its licensors reserve all rights in the Services, and you agree that the Terms
do not grant you any rights in, or licenses to, the Services except for the
limited license set forth above.
27.1.2 Except as expressly
authorised by M2, you agree not to modify, reverse engineer, copy, frame,
scrape, rent, lease, loan, sell, distribute, or create derivative works based
on the Services, in whole or in part. If you violate any portion of the Terms,
your permission to access and use the Services may be terminated pursuant to
the Terms.
27.1.3 "M2.com,"
"M2" and all logos related to the Services are either trademarks, or
registered marks of M2 or its licensors. You may not copy, imitate, or use them
without M2's prior written consent. All right, title, and interest in and to
the Site and any Mobile Application, any content thereon, the Services,
and any and all technology or content
created or derived from any of the foregoing is the exclusive property of M2
and its licensors.
27.2 API Use
27.2.1 Subject to your compliance
with the Terms and any other agreement which may be in place between you and M2
relating to your use of the API, M2 grants you a limited, revocable,
non-exclusive, non-transferable, non-sublicensable license, to use the API solely
for the purposes of trading on the Platform. You agree to not use the API or
data provided through the API for any other purpose. You agree your access and
use of the API shall be entirely at your own risk, and that M2 will not be
responsible for any liabilities that you incur as a
result of the use of the API or actions you take based on the API.
27.2.2 M2 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, M2 may moderate your activity or cease offering you access
to the API (or any other API offered by M2), each in its sole
discretion.
27.2.3 M2 may immediately suspend
or terminate your access to the API without notice if we believe you are in
violation of the Terms or any other agreement which may be in place between you
and M2 related to your use of the API.
27.3 Third Party
Applications
27.3.1 We offer our Services to
users both directly and via third party Sites, platforms, applications and
other access portals (collectively, “Third Party Portals”). If you are
accessing these Terms via a Third Party Portal, you agree (a) to comply with
all applicable terms of service of such Third Party Portal, (b) that you are
solely responsible for payment of any and all costs and fees associated with
such Third Party Portals, and (c) we do not owe you any duty of care with
respect to such Third Party Portals, nor do we accept any responsibility for
them.
27.3.2 If you grant express
permission to a third party to connect to your Account, either through the
third party’s product or through the Services, you acknowledge that granting
permission to a third party to take specific actions on your behalf does not
relieve you of any of your responsibilities under these Terms.
27.3.3 You acknowledge and agree
that you will not hold us responsible for, and will indemnify us from, any
liability arising from the actions or inactions of such third party in
connection with the permissions you grant. You expressly agree that your use of
any Third Party Portal is at your own risk and we will not be liable to you for any inaccuracies,
errors, omissions, delays, damages, claims, liabilities or losses, arising out
of or in connection with your use of Third Party
Portals.
27.3.4 In the event that access to
the Services via any Third Party Portal is
suspended, terminated or cancelled for any reason, you agree that you shall
remain bound by these Terms and our Privacy Policy as a user of the
Services.
28 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, which provides
details on how your personal information is collected, stored, protected, and
used.
29 CONFIDENTIALITY
29.1 You shall treat as strictly
confidential and not use or disclose any information or documents which you
receive (or have received) from us, whether before, during or after the term of
the Terms, and whether communicated orally, in writing, in electronic form or
otherwise, relating to our business, financial situation, products and services
(including the Services), expectations, processes and methods, customers or
employees, in each case which is designated as being "confidential"
or which by its very nature should obviously be treated as secret and
confidential (together "Confidential Information").
29.2 You may use the
Confidential Information solely to the extent necessary to receive the benefit
of the Services in accordance with the Terms.
29.3 The obligation to maintain
confidentiality under this Section 29 shall not apply to
any Confidential Information to the extent that such information
is:
29.3.1 in the public domain
through no breach of the Terms;
29.3.2 known to you at the time of
disclosure without restrictions on use, or independently developed by you, and
in each case, there is appropriate documentation to demonstrate either
condition; or
29.3.3 required to be disclosed to a Regulatory Authority
or by Applicable Laws.
29.4 If you are required under
Applicable Laws or by any Regulatory Authority to disclose Confidential
Information in the circumstances set out in Section 29.3.3 you shall give
us such notice as is practical in the circumstances of such disclosure and
shall provide all cooperation reasonably requested by us in relation to
mitigating the effects of, or avoiding the requirements for, any such
disclosure.
29.5 Any Confidential
Information shall remain the property of M2 and may be copied or reproduced
only with our prior written consent.
29.6 Upon request, you shall
return or destroy all materials containing our Confidential Information and,
where such materials have been destroyed, confirm such destruction in writing.
You shall be under no obligation to return or destroy such materials if and to
the extent you are required to retain such materials under Applicable Laws,
provided that you shall notify us in writing of such requirement, giving
details of the materials which have not been destroyed or returned, and this
Section 29 shall continue to
apply to such materials.
30 COOKIES
By accessing the Site, you
agree to use cookies in agreement with M2's Privacy Policy. The Site uses cookies
to enable us to retrieve User details for each visit, and to enable the
functionality of certain areas of the Site to make it easier for Users visiting
the Site to access and use the Services.
31 INDEMNIFICATION; RELEASE
31.1 You shall and agree to
defend, indemnify and hold harmless M2, its Affiliates and service providers
and, in each case, their Personnel (collectively, "Indemnified Parties"
and each an "Indemnified Party") from and against any and all
claims and liabilities, costs, expenses, damages and losses (including any
direct, indirect or consequential losses, loss of profit, loss of reputation
and all interest, penalties and legal and other reasonable professional costs
and expenses) ("Losses" or "Loss") which any
Indemnified Party may suffer or incur, arising directly or indirectly out of or
in connection with: (i) your use of your Account
and/or the Services; (ii) your breach or anticipatory breach of the Terms; or
(iii) your violation or anticipatory violation of any Applicable Laws.
31.2 You will cooperate as fully
required by the Indemnified Parties in the defence of any such claims and
Losses. The Indemnified Parties retain the exclusive right to assume the
exclusive defence and control of any claims and Losses. You will not settle any
claims and Losses without M2's prior written consent.
31.3 You hereby agree to release
each of the Indemnified Parties from any and all claims and demands (and waive
any rights you may have against any of the Indemnified Parties in relation to
any Losses you may suffer or incur), arising directly or indirectly out of or
in connection with any dispute that you have with any other User or other third
party in connection with the Services (including any Virtual Asset/Futures
Contract transactions) or the subject matter of the Terms.
32 LIMITATION OF LIABILITY; NO WARRANTY
32.1 NOTHING IN THE TERMS SHALL LIMIT OR EXCLUDE A
PARTY'S LIABILITY:
32.1.1 FOR DEATH OR PERSONAL
INJURY CAUSED BY ITS NEGLIGENCE;
32.1.2 FOR FRAUD OR FRAUDULENT
MISREPRESENTATION; OR
32.1.3 TO THE EXTENT SUCH
LIABILITY CANNOT BE EXCLUDED BY APPLICABLE LAWS.
32.2 SUBJECT TO SECTION 32.1, NEITHER M2 NOR ANY OF
THE OTHER INDEMNIFIED PARTIES SHALL BE LIABLE TO YOU IN CONTRACT, TORT
(INCLUDING NEGLIGENCE), EQUITY, STATUTE OR ANY OTHER CAUSE ARISING OUT OF OR IN
CONNECTION WITH THE TERMS (OR ARISING OUT OF OR IN CONNECTION WITH:
32.2.1 YOUR USE OR INABILITY TO
USE THE SERVICES; THE COST OF PROCURING SUBSTITUTE GOODS AND SERVICES IN
CIRCUMSTANCES WHERE YOU DO NOT OR ARE UNABLE TO USE THE SERVICES; ANY GOODS,
DATA, INFORMATION, OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS
ENTERED INTO THROUGH OR FROM THE SERVICES; UNAUTHORISED ACCESS TO OR ALTERATION
OF YOUR TRANSMISSIONS OR DATA; OR ANY OTHER MATTER RELATING TO THE SERVICES)
FOR: INCIDENTAL, PUNITIVE, EXEMPLARY OR OTHER SPECIAL LOSS OR
DAMAGE; OR LOSS OF PROFIT, LOSS OF REVENUE, LOSS OF GOODWILL, LOSS OF USE, LOSS
OF BUSINESS OR CONTRACT, LOST OPPORTUNITIES, INCREASED COSTS OR EXPENSES (OR
WASTED EXPENDITURE INCLUDING PRE-CONTRACT EXPENDITURE), LOSS OF SAVINGS, ANY
LIABILITY VOLUNTARILY ASSUMED BY YOU, OR LOSS OF OR DAMAGE TO DATA, IN EACH
CASE REGARDLESS OF WHETHER SUCH LOSS OR DAMAGE WAS DIRECT OR
INDIRECT, FORESEEABLE OR UNFORESEEABLE, OR WHETHER M2 OR ANY OF THE OTHER
INDEMNIFIED PARTIES HAD BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE;
OR
32.2.2 INDIRECT OR CONSEQUENTIAL
LOSS OR DAMAGE.
32.3 YOU ACKNOWLEDGE AND AGREE
THAT M2 AND ITS AFFILIATES MAY RELY ON ONE OR MORE THIRD PARTY INTERMEDIARIES
FOR THE PURPOSES OF PROVIDING THE SERVICES. THE THIRD
PARTY INTERMEDIARIES ARE INDEPENDENT THIRD PARTIES AND ARE NOT M2'S
AGENTS OR SUBCONTRACTORS. SUBJECT TO SECTION 32.1, M2 SHALL NOT BE
LIABLE FOR THE ACTS OR OMISSIONS OF ANY THIRD PARTY
INTERMEDIARY, OR ANY LOSSES ARISING FROM THE FAULT OF ANY THIRD
PARTY INTERMEDIARY, SUCH AS A FAILURE BY A THIRD PARTY
INTERMEDIARY TO COMPLY WITH APPLICABLE LAWS OR ANY REASONABLE INSTRUCTIONS
PROVIDED BY M2.
32.4 YOU ACKNOWLEDGE AND AGREE
THAT THE SERVICES ARE PROVIDED ON AN "AS IS" BASIS, WITHOUT ANY
WARRANTY OR REPRESENTATION OF ANY KIND AND, TO THE MAXIMUM EXTENT PERMITTED
BY APPLICABLE LAW, EACH OF M2 AND THE OTHER INDEMNIFIED PARTIES EXPRESSLY
DISCLAIM ANY WARRANTIES OR CONDITIONS, EXPRESS, IMPLIED, STATUTORY OR
OTHERWISE, WITH RESPECT TO THE SERVICES, INCLUDING, WITHOUT LIMITATION, ANY
IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE
OR NON-INFRINGEMENT. NEITHER M2 NOR ANY OTHER INDEMNIFIED PARTY MAKES ANY
WARRANTY THAT:
32.4.1 THE SERVICES WILL MEET
YOUR REQUIREMENTS;
32.4.2 THE SERVICES WILL BE
UNINTERRUPTED, TIMELY, SECURE, OR ERROR FREE; OR
32.4.3 THE QUALITY OF ANY
PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU
WILL MEET YOUR EXPECTATIONS.
32.4.4 SUBJECT TO SECTION 32.1, NEITHER M2 NOR ANY OF
THE OTHER INDEMNIFIED PARTIES WILL BE RESPONSIBLE OR LIABLE TO YOU FOR ANY LOSS
AND TAKE NO RESPONSIBILITY FOR, AND WILL NOT BE LIABLE TO YOU FOR, ANY USE OF
THE SERVICES, INCLUDING BUT NOT LIMITED TO ANY LOSSES, DAMAGES OR CLAIMS
ARISING FROM: USER ERROR SUCH AS FORGOTTEN PASSWORDS, INCORRECTLY CONSTRUCTED
TRANSACTIONS, OR MISTYPED WALLET ADDRESSES; SERVER FAILURE OR DATA LOSS;
CRYPTOCURRENCY WALLETS OR CORRUPT FILES; UNAUTHORISED ACCESS TO SERVICES; OR
ANY THIRD PARTY ACTIVITIES, INCLUDING WITHOUT LIMITATION THE USE OF VIRUSES,
PHISHING, BRUTEFORCING OR OTHER MEANS OF ATTACK AGAINST YOUR COMPUTER OR ANY
BLOCKCHAIN NETWORK UNDERLYING THE SERVICES.
33 TERMINATION
33.1 You may end these Terms for
any reason by giving at least 10 Business Days' notice. Notice must be given
via email to support@M2.com and must include details of any account or other
withdrawal destination to which the Assets remaining within your Account may be
returned following deduction of any Fees or other sums due to M2.
33.2 M2 may end these Terms
immediately in the following circumstances:
33.2.1 it is discovered that any
of the information that you have provided is materially false
or misleading;
33.2.2 where M2 is required to do
so to comply with any applicable regulations or legislation;
33.2.3 you commit a material
breach (as determined by us in our reasonable discretion) of any term of these
Terms, and if such breach is remediable you fail to remedy that breach within
fourteen (14) calendar days from the date of us notifying you to do so;
33.2.4 you are subject to material
legal, criminal or regulatory proceedings (including but not limited to,
bankruptcy, administrative or insolvency proceedings) which in our reasonable
opinion create actual or potential legal, regulatory, criminal or reputational
risk to us;
33.2.5 we reasonably suspect that
you are or have been carrying on, assisting in the commission of, or are
directly or indirectly connected to, illegal activities including financial
crime, or breaches of Applicable Laws, including carrying on activities without
the proper governmental authorizations or licenses;
33.2.6 there is a change in the
Applicable Laws which may limit our ability or make it illegal to provide you
with access to the Platform, or some or all of the Services;
33.2.7 we are required under the
Applicable Laws to terminate these Terms or are directed by any competent
court, authority or financial services regulator to do so;
33.2.8 (if as a natural person)
you die;
33.2.9 there is threatening, or
abusive behaviour made towards M2 employees;
33.2.10 you become bankrupt or
subject to any analogous insolvency procedure in any
relevant jurisdiction;
33.2.11 we are unable to give you
access to the Platform or provide the Services to you as a result of a Force
Majeure Event;
33.2.12 you have seriously or
persistently breached these Terms or M2 has reason to believe that you have
used, or intend to use, the Platform or your Account for fraudulent or other
unlawful purposes.
33.3 Ending this Agreement will
not affect your continuing liability to M2 in respect of any breach of this
Agreement, fraudulent or negligent use of your Account.
34 COMMUNICATIONS IN ENGLISH
The Terms are provided to
you and concluded in English. We will communicate with you in English for all
matters related to your use of our Services unless we elect, in our sole
discretion, to provide support for other languages.
35 FEEDBACK
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 to us or one of our social media
accounts, regarding the Services (collectively, "Feedback")
that are provided by you, whether by email, posting to the Site or social
channels, or otherwise, are non-confidential and will become the sole property
of M2. M2 will own exclusive rights, including all intellectual property
rights, in and to such Feedback, 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.
36 QUESTIONS AND CONTACT
INFORMATION
To contact us, please visit
one of the links or channels above. For support with your Account, you may
email us at support@M2.com. Please provide all relevant information,
including your Account username and transaction IDs of any related deposits.
Although we make no representations or provide no warranties as to the speed of
response, we will endeavour to get back to you as soon as possible.
37 PROMOTIONS
M2 does not, as a general rule, participate in promotions without an
official pronouncement, either on the Site 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 the Platform.
38 FORCE MAJEURE AND RELIEF
EVENTS
38.1 M2 shall not be responsible
(and shall have no liability) for any failure, interruption or delay in
relation to the performance of the Services or its obligations under the Terms
that results from any abnormal or unforeseeable circumstances outside our reasonable
control, including without limitation:
38.1.1 any Force Majeure Event;
or
38.1.2 any failure by you to
comply with your obligations under the Terms or Applicable Laws ("Relief
Event").
39 ASSIGNMENT AND SUBCONTRACTING
39.1 You may not assign, novate,
or otherwise transfer, any of your rights or obligations under the Terms, or
sub-contract the performance of any of your obligations under the Terms,
without the prior written consent of M2. Any attempted assignment, novation,
transfer or sub-contracting without our consent shall be void.
39.2 M2 may assign, novate, or
otherwise transfer any of its rights or obligations under the Terms to any
other person, or sub-contract the performance of any of its obligations under
the Terms (including the performance of the Services), at any time and without
your consent, and you hereby consent to such assignment, novation, transfer or
subcontracting, and agree to take all actions (including by way of executing
documents) and other assistance required by M2 to ensure that any such
assignment, novation, transfer or subcontracting is effective and enforceable.
If you object to such assignment, novation, transfer or sub-contracting you may
stop using our Services and terminate the Terms by contacting us and requesting us to close your Account.
40 GENERAL
40.1 Entire agreement
40.1.1 You agree that the Terms
constitute the entire agreement between you and M2 with respect to the use of
the Services.
40.1.2 You agree that in agreeing
to and entering into the Terms you have not been induced to do so by,
and have not relied on, any statement, representation, warranty, assurance,
covenant, indemnity, undertaking or commitment ("Representation")
which is not expressly set out in the Terms.
40.1.3 You agree that your only
right of action in relation to any innocent or negligent Representation set out
in the Terms or given in connection with the Terms shall be for breach of
contract. All other rights and remedies in relation to any such Representation
(including those in tort or arising under statute) are excluded.
40.2 Survival
Upon the later of the
closure of your Account and the termination of your access to and use of the
Services the Terms shall terminate. All rights and obligations of the Parties
that by their nature are continuing will survive the termination of the
Terms.
40.3 Severability
If any provision or part of
the Terms is void or unenforceable due to any Applicable Laws, it shall be
deemed to be deleted and the remaining
provisions of the Terms shall continue in full force and effect. If any
invalid, unenforceable or illegal provision of the Terms would be valid,
enforceable and legal if some part of it were deleted, the provision shall
apply with the minimum deletion necessary to make it valid, legal and
enforceable.
40.4 Successors and
assigns
The Terms shall be binding
on, and enure to the benefit of, the
Parties to the Terms and their respective personal representatives, successors
and permitted assigns, and references to any Party shall include that Party's
personal representatives, successors and permitted assigns.
40.5 Variation and waiver
40.5.1 Subject to Section 24, no variation of the
Terms shall be effective unless it is in writing (which for this purpose, does
not include email) and signed by, or on behalf of, each of the Parties. The
expression "variation" includes any variation, supplement, deletion
or replacement however effected.
40.5.2 No waiver by M2 of any
right or remedy provided by the Terms or by law shall be effective unless it is
in writing (which for this purpose, does not include email) and signed by, or
on behalf of, M2. The failure by M2 to exercise, or delay in exercising, any
right or remedy provided by the Terms or by law does not: (i)
constitute a waiver of that right or remedy; (ii) restrict any further exercise
of that right or remedy; or (iii) affect any other rights or remedies. A single
or partial exercise by M2 of any right or remedy does not prevent any further
or other exercise of that right or remedy or the exercise of any other right or
remedy.
40.6 No partnership or
agency
Nothing in the Terms or in
any matter or any arrangement contemplated by it is intended to constitute a partnership,
association, joint venture, fiduciary relationship or other cooperative entity
between the Parties for any purpose whatsoever. Except as expressly provided in
the Terms, neither Party has any power or authority to bind the other Party or
impose any obligations on it and neither Party shall purport to do so or hold
itself out as capable of doing so. Each Party confirms it is acting on its own
behalf and not for the benefit of any other person.
40.7 Set off
40.7.1 Notwithstanding that any
amount is from time to time payable by M2 to you under or by virtue of the
Terms or otherwise, you shall not set off such amount against any amount
payable by you to M2 under the Terms.
40.7.2 M2 may set off any amounts
which from time to time are payable by M2 to you under or by virtue of the
Terms or otherwise against any amounts payable by you to M2 under the
Terms.
40.8 Equitable
remedies
Without prejudice to any
other rights or remedies that M2 may have, you acknowledge and agree that
damages alone may not be an adequate remedy for your breach of the Terms. The
remedies of injunction and specific performance as well as any other equitable
relief for any threatened or actual breach of such provisions of the Terms may
be more appropriate remedies.
40.9 Third party rights
Save as otherwise expressly
provided in the Terms (such as in Sections 31, 32 and 40.12):
40.9.1 the Terms are not intended
and shall not be construed to create any rights or remedies in any parties
other than you and M2 and its Affiliates, which each shall be a third partybeneficiary of the Terms; and
40.9.2 no other person shall
assert any rights as a third party beneficiary
hereunder (notwithstanding any legislation to the contrary anywhere in the
world).
40.10 Electronic signature
The Terms may be entered
into by electronic means.
40.11 Governing law
The Terms and any Dispute
shall be governed by, and construed in accordance with, Bahamas law.
40.12 Arbitration
40.12.1 Any Dispute, claim,
controversy, or action arising out of or related to the Terms or the existence,
breach, termination, enforcement, interpretation or validity thereof; or your
account (including any subaccount or Virtual Assets wallet); or the operations
and Services of the Site; or your access to or use of the Services at any time
or otherwise, relating to these Terms:
A. shall be subject to the
exclusive jurisdiction of the Commonwealth of The Bahamas (“The Bahamas”);
B. if not resolved through
formal good faith discussion within thirty (30) days after
one Party has served a written notice on the other Party, describing the
matter(s) in dispute in reasonable detail, shall be referred to and finally be
settled by final and binding arbitration.
40.12.2 The Parties agree to submit
claims to the arbitrator regarding issues of arbitrability, the validity,
scope, and enforceability of these Terms, his or her jurisdiction, as well as
any gateway, threshold, or any other challenges to these Terms, including
claims that this Terms is unconscionable.
40.12.3 The Parties further agree:
A. Unless the Parties have
agreed in writing to a single arbitrator to be mutually appointed, the number
of arbitrators shall be three (3) with each Party appointing one and the
Parties together appointing the third;
B. The arbitrator(s) must be a
neutral party acceptable to all Parties.
C. The cost of the
arbitration, not including the legal fees of the Parties, shall be shared
equally by the Parties during an arbitration.
D. The prevailing Party in any
arbitration shall be entitled to recover its reasonable attorney’s fees and
costs.
E. The seat or legal place of
the arbitration shall be Nassau, New Providence, The Bahamas;
F. The language to be used in
the arbitral proceedings shall be English;
G. The UNCITRAL Model Rules on
Arbitration (as revised in 2010), and as further revised as may be, shall be
the rules for the conduct of the arbitration (subject to such modifications as
the Parties may agree); and
H. The Parties agree to waive
any right to an appeal of the award and that judgment on any award rendered by
the arbitrator may be entered and enforced by the Courts of The Bahamas.
40.12.4 For the avoidance of doubt,
and without limiting the generality of the foregoing, this provision expressly
applies to any claim, whether in tort, contract or otherwise. You irrevocably
and unconditionally agree and consent to the jurisdiction and venue of The
Bahamas, and you waive any objections thereto, including under the doctrine of
forum non conveniens or other similar
doctrines.
40.12.5 You and M2 agree that any
Party hereto may bring claims against the others only on an individual basis
and not as a plaintiff or class member in any purported class or representative
proceedings or action. To the fullest extent permitted by applicable law, the
Parties hereby waive any entitlement to seek and agree that no adjudicator may
consolidate or join more than one person’s or party’s claims and may not
otherwise preside over any form of a consolidated, representative, or class
proceeding. Any relief awarded to any one M2 user cannot and may not affect any
other M2 users.
40.12.6 TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, THE PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING OF ANY KIND
WHATSOEVER ARISING OUT OF OR RELATING TO THESE TERMS OR ANY BREACH THEREOF, ANY
USE OR ATTEMPTED USE OF THE SITE OR THE SERVICES BY YOU, AND/OR ANY OTHER
MATTER INVOLVING THE PARTIES.
SCHEDULE 1
DEFINITIONS AND
INTERPRETATION
1. DEFINITIONS
1.1 As
used throughout the Terms unless the context requires otherwise:
“Account” refers to the account set up in
your name when you apply for and are granted the right to access and use the
Platform. The Account may be referred to as the “Global Wallet” in the User
interface on the Site and which holds Virtual Assets and/or Fiat Currencies
that are intended to be the subject of certain permitted Transactions. Your
Available Balance reflects the Virtual Assets and/or Fiat Currencies in your
Account, and transactions are settled using the Virtual Assets and/or Fiat
Currency in your Account.
"Affiliate" means, in relation to
a Party, any person that directly, or indirectly through one or more
intermediaries, controls, is controlled by, or is under common control with,
such Party. A person shall be deemed to control another person if such person
possesses, directly or indirectly, the power to direct, or cause the direction
of, the management and policies of such other person, whether through the
ownership of voting securities, by contract or otherwise.
"Applicable Laws" means all laws,
including rules of common law, principles of equity, statutes, regulations,
directives, proclamations, ordinances, by-laws, rules, regulatory principles
and requirements, mandatory codes of conduct, writs, orders, injunctions, judgments
and any awards of other industrial instruments, which are applicable to the
provision, receipt or use of the Services or any products or other deliverables
provided, used or received in connection with the Services.
"Assets" means the Virtual Assets,
Futures Contracts, Fiat Currency and E-Money held in your Account.
“Available Balance” means in relation to your
Account and to the relevant sub-accounts the total amount of Assets available
for transactions.
“Business Day” means any day except any
Saturday, any Sunday and any day which is a legal holiday in The Bahamas.
"BTC" means the cryptocurrency
Bitcoin.
"Dispute" means any dispute, claim,
controversy or difference arising out of or in connection with the Terms,
including any question regarding its existence, validity, subject matter,
interpretation, negotiation, termination or enforceability, and any dispute,
claim, controversy or difference regarding any non-contractual obligations
arising out of or in connection with the Services.
“Earn Account” means
the account which may be referred to as the “Earn Wallet” in the User interface
on the Site and which holds Virtual Assets that are intended to be the subject
of certain permitted Transactions. Your Available Balance reflects the Virtual
Assets in your Earn Account, and transactions are settled using the Virtual
Assets in your Earn Account. Please note, you will only have an Earn Account if
you have elected to open an Earn Account on the Platform and agreed to the
terms and conditions applicable to a Earn Account.
“E-Money” means the equivalent amount
of electronic money that we may issue to you upon receiving Fiat Currency that
you deposit into your Account. E-Money is denominated in the relevant Fiat
Currency deposited and represents the deposited Fiat Currency.
"ETH" means the cryptocurrency
Ethereum.
"Exchange" means the trading platform
operated by M2 through which the Services may be offered to Users to transact
in Virtual Assets/Futures Contracts with other Users.
"Fiat Currency" means any government
issued national currency.
“Fees” refer to transaction
fees, costs and charges published on the Platform, as amended from time to
time, and payable to M2 in relation to your access to and use of the Services.
“Fee Schedule” means the fee schedule
displayed on the Site as may be amended from time to time.
"Force Majeure
Event" means any circumstance not within a Party's reasonable control
including:
(i) acts of God, flood,
drought, earthquake or other natural disaster;
(ii) epidemic or pandemic;
(iii) terrorist attack, civil
war, civil commotion or riots, war, threat of or preparation for war, armed
conflict, imposition of sanctions, embargo, or breaking off of
diplomatic relations;
(iv) nuclear, chemical or
biological contamination or sonic boom;
(v) any law or any action taken
by a Regulatory Authority, including the imposition of an export or import
restriction, quota or prohibition;
(vi) collapse of buildings,
fire, explosion or accident; and
(vii) any labour or trade
dispute, strikes, industrial action or lockouts (other than in each case by the
Party (or its Affiliates) seeking to rely on this clause).
“Futures Contracts”
means Perpetual Futures Contracts.
“Futures Account” means
the account which may be referred to as the “Futures Wallet” in the User
interface on the Site and which holds Virtual Assets and/or Fiat Currencies
that are intended to be the subject of certain permitted Transactions. Your
Available Balance reflects the Virtual Assets and/or Fiat Currencies in your
Futures Account, and transactions are settled using the Virtual Assets and/or
Fiat Currency in your Futures Account. Please note, you will only have Futures
Account if you have elected to open a Futures Account on the Platform and
agreed to the terms and conditions applicable to a Futures Account.
“Intellectual
Property (IP) Rights” refers to all (i)
patents, patent applications, patent disclosures and inventions, (ii)
trademarks, service marks, trade dress, trade names, logos and corporate names
and registrations and applications for registration thereof together with all
of the goodwill associated therewith, (iii) copyrights (registered and
unregistered) and copyrightable works and registrations and applications for
registration thereof, (iv) mask works and registrations and applications for
registration thereof, (v) computer software, data, data bases and
documentation thereof, (vi) trade secrets and other confidential
information (including, without limitation, ideas, formulas, compositions,
inventions (whether patentable or unpatentable and whether or not reduced to
practice), know-how, manufacturing and production processes and techniques,
research and development information, drawings, specifications, designs, plans,
proposals, technical data, financial and marketing plans and customer and supplier
lists and information), (vii) other Intellectual Property rights and (viii)
copies and tangible embodiments thereof (in whatever form or medium);
“Indemnified Party” as defined in section 31.
"Loss”;
“Losses” as defined in section 31.
“Minimum
Requirements” as defined in section 14.11.
"MMX" is
the exchange token of the Exchange ecosystem and is not offered in the US or to
US persons.
"Mobile
Application" means any mobile application developed or provided
by M2 and/or any of its Affiliates through which Users can access the
Platform.
"Order" means each
instruction placed by you on the Order Book to (1) purchase or sell a specified
quantity of a Virtual Asset at a specified price in the Virtual Asset in which
trading is denominated on the Order Book (i.e. the second Virtual Asset in a
trading pair (e.g. USD in the BTC/USD trading pair)) or (2) purchase or sell a
specified quantity of a Futures Contract.
"Order
Book" means the central limit order book operated by M2 on the Platform.
"Parties" means the parties to
the Terms, being you and M2 (or, where applicable, the Service Provider
responsible for providing a Specified Service to you as specified in a Service
Schedule, insofar as that Specified Service is concerned), and "Party"
shall mean any one of the foregoing (as the context requires).
“Perpetual Futures
Contracts” is
as defined in Schedule 4.
"Personnel" means the directors,
officers, employees, agents, joint venturers, and contractors or subcontractors
of a person.
“Platform” refers to M2's user
interface providing Users with access to the Services and includes the publicly
accessible Site, the MTF and the API as well as any other medium for provision
of Services by M2 and any online communication tool operated within the Platform
for notification to clients and for management of client information.
“Privacy Policy” means our privacy
policy which is publish on the Platform and which may be amended from time to
time.
"Regulatory
Authority" means any foreign, domestic, state, federal, cantonal, municipal
or local governmental, executive, legislative, judicial, administrative,
supervisory or regulatory authority, agency, quasi-governmental authority,
court, commission, government organisation, self-regulatory organisation having
regulatory authority, tribunal, arbitration tribunal or panel or supra-national
organisation, or any division or instrumentality thereof, including any tax
authority.
“Restricted Location” refers to where access to
the Platform or the use of the Services may be restricted by M2 or prohibited,
such as but not limited to: (a) the US; (b) the Chinese Mainland and Chinese
Macau Special Administrative Region; (c) any country or jurisdiction which may
be subject to economic sanctions under Applicable Laws or the laws, regulations
or rules of the US; (d) any other country or jurisdiction where the Applicable
Laws prevent us from having a business relationship with, or from providing the
Services to, persons located, domiciled, holding assets in, or in any way
linked to such countries or jurisdictions; (e) the countries or regions listed
by the Financial Action Task Force as “High-Risk Jurisdictions subject to a
Call for Action” or as “Other monitored jurisdictions” (other than the Bahamas
or United Arab Emirates) as published and amended from time to time; and (f)
any other country or jurisdiction which we, in our sole discretion, deem to be
a Restricted Location, and which we may publish on our Site or notify you from
time to time.
“Restricted Person” refers to either a US
Person, or a person resident, or a citizen of, a resident of, domiciled in, a
person incorporated or in any way established in, a Restricted Location or: (a)
otherwise prohibited under the Applicable Laws from using the Platform or receiving
the Services; or (b) subject to economic sanctions or designated as a terrorist
person or organization by a competent government or international body such as
but not limited to the United Nations Security Council, the European Union
Council, the United Arab Emirates Executive Office for Control &
Non-Proliferation, the US Office of Foreign Assets Control or the United
Kingdom Office of Financial Sanctions Implementation.
"Service
Provider" means the entity specified in a Service Schedule as
responsible for providing the Specified Service referred to in that Service
Schedule.
"Service
Schedule" means the Service Schedules set out in the
Schedules (other than this Schedule 1) to the General Terms.
"Specified
Service" means any service specified in a Service
Schedule.
"transaction" or "trade" means
each transaction or trade carried out (or to be carried out) via the Platform
relating to buying, selling, exchanging, holding, staking, lending, borrowing,
sending, receiving or otherwise transacting in a Virtual Asset/Futures
Contract.
“US Person” refers to a person located
in, or a citizen or resident of the US or any of the following: (a) a domestic
partnership (partnership organized in the US); (b) a domestic corporation
(corporation incorporated in the US); (c) any estate other than a foreign estate
or any trust (if: a court within the United States is able to exercise primary
supervision over the administration of the trust, and one or more US persons
have the authority to control all substantial decisions of the trust); or (d)
the US government, a State or the District of Columbia (including any agency,
instrumentality or political subdivision thereof).
"User" means a user of the
Services, including you.
"Virtual Assets" means BTC, ETH, MMX
and any other Virtual Asset, cryptocurrency, virtual currency, token, leveraged
token, stablecoin, tokenised stock, volatility token, tokenised futures
contract, tokenised option or other tokenised derivatives product that is supported
by and made available from time to time to transact in using the
Platform.
2. INTERPRETATION
2.1 References
to the Terms and other agreements
In the Terms, except where
the context otherwise requires:
2.1.1 a
reference to the Terms includes a reference to the Service Schedules and any
other Schedules to it, each of which forms part of the Terms;
2.1.2 a
reference to a Section or Schedule (other than to a schedule to a statutory
provision) is a reference to a Section or Schedule (as the case may be) of, or
to, the Terms and reference to a paragraph is to a paragraph of the
relevant Schedule;
2.1.3 the
headings are for convenience only and shall not affect the interpretation of
the Terms;
2.1.4 a
reference to the Terms includes the Terms as amended or supplemented in
accordance with its terms; and
2.1.5 a
reference to any agreement or other instrument (other than an enactment or
statutory provision) is to that agreement or instrument as from time to time
amended, varied, supplemented, substituted, novated or assigned otherwise than
in breach of the Terms.
2.2 Singular,
plural and gender
Words in the singular
include the plural and vice versa and a reference to one gender includes other
genders.
2.3 References
to persons and companies
In the Terms, except where
the context otherwise requires:
2.3.1 a
reference to a person includes a reference to any individual, firm,
company, government, state or agency of a state, local or municipal authority
or government body or any joint venture, association or partnership (whether or
not having separate legal personality);
2.3.2 a
reference to a company includes any company, corporation or other body
corporate wherever and however incorporated or established; and
2.3.3 a
reference to an individual includes that individual's estate and personal
representatives.
2.4 References
to time periods
In the Terms, except where
the context otherwise requires, any reference to a date or time is a reference
to that date or time in the principal financial centre of the country in which
the registered office of M2 (or the relevant Affiliate of M2) is located,
unless otherwise agreed in writing. A reference to a day means a period of 24
hours ending at midnight. Any period of timeshall
be calculated exclusive of the day from which the time period is expressed to
run or the day upon which the event occurs which causes the period to start
running.
2.5 References
to legislation and legal terms
In the Terms, except where
the context otherwise requires, a reference to an enactment or statutory
provision shall include a reference to any subordinate legislation made under
the relevant enactment or statutory provision, and is a reference to that enactment,
statutory provision or subordinate legislation as from time to time amended,
modified, incorporated or reproduced and to any enactment, statutory provision
or subordinate legislation that from time to time (with or without
modifications) re-enacts, replaces, consolidates, incorporates or reproduces
it.
2.6 Includes
and including
In the Terms, except where
the context otherwise requires:
2.6.1 the
words and phrases "includes", "including", "in
particular" (or any terms of similar effect) shall not be construed as
implying any limitation; and
2.6.2 general
words shall not be given a restrictive meaning because they are preceded or
followed by particular examples.
2.7 To
the extent that
In the Terms, except where
the context otherwise requires, the phrase "to the extent that" is
used to indicate an element of degree and shall mean "to the extent
that" and not solely "if", and similar expressions shall be construed
in the same way.
2.8 Writing
A reference to writing
includes any modes of reproducing words in any legible form and, except where
expressly stated otherwise, shall include email.
SCHEDULE 2
SERVICE SCHEDULE
|
Specified Service |
Spot Market |
|
Specified Service description |
The Spot Market is a
trading platform through which you can spot trade certain Virtual Assets with
other Users in exchange for Fiat Currency (depending on your location) or
Virtual Assets. |
|
Service Provider |
This Specified Service
forms part of the Services and is provided by M2, to all eligible Users other
than persons who have their registered office or place of residence in the US
or any Restricted Location. |
|
Specified Service specific terms (in addition to
the General Terms) |
The Virtual Assets that
are available for spot trading on the Spot Market are listed on the Site.
This list may be amended from time to time by the Service Provider at its
sole discretion. The Service Provider
reserves the right to final interpretation of this Specified Service. |
SCHEDULE 3
SERVICE SCHEDULE
|
Specified Service |
OTC |
|
Specified Service description |
The Service Provider
allows Users to request quotes for spot Virtual Assets. In response to a
request for a quote, the Service Provider may return with a quote in respect
of the Virtual Assets. You may decide whether or not you wish to
trade at the price quoted by the Service Provider. If you intend to trade at
the price quoted by the Service Provider, you may place an order at the
quoted price with the Service Provider. If your order is accepted by the
Service Provider, the trade is confirmed, and you will trade directly with
the Service Provider. The Service Provider will carry out post-trade clearing
and settlement of the trade. |
|
Service Provider |
The provision of a quote
by the Service Provider is at the Service Provider’s sole and absolute
discretion. Any quote provided by the Service Provider is indicative only and
valid only at the time it is provided by the Service Provider. Quotes are
subject to change and do not constitute offers to buy or sell Virtual Assets
at the prices quoted. A trade will only be
confirmed once your order has been accepted by the Service Provider. You may
amend or withdraw your order at any time so long as the Service Provider
receives notification of such amendment/withdrawal prior to its acceptance of
your order. The Service Provider has no obligation to accept your order and
may reject your order for any reason. The Service Provider
reserves the right to final interpretation of this Specified Service. |
|
Specified Service specific terms (in addition to
the General Terms) |
Except in the context of
the OTC Specified Service set out in Schedule 3, M2’s relationship with you
under the Terms is as a trading platform provider only, and M2 does not act
as principal or counterparty with respect to trades entered into on
the Platform. Notwithstanding the foregoing, when providing the Services, M2
may act as a counterparty for limited trades made for the purpose of
liquidating fees collected on User trades. |
SCHEDULE 4
SERVICE SCHEDULE
|
Specified Service |
Futures
Market |
|
Specified Service description |
The
Futures Market is a trading platform on which you can trade Perpetual Futures
Contracts on certain Virtual Assets and Virtual Asset indexes with other
Users, with or without leverage utilising your Futures Account. |
|
Service Provider |
This
Specified Service forms part of the Services and is provided by M2, to all
eligible Users other than persons who have their registered office or place
of residence in the US or any Restricted Location. |
|
Specified Service specific terms (in addition to
the General Terms) |
“Perpetual Futures
Contracts” represent obligations to buy or sell a Virtual Asset at a specific
price, at any time while the contract remains open. Perpetual Futures
Contracts do not have an expiry date but instead, continuously roll over,
i.e. every hour, each perpetual futures contract has a funding payment where
longs pay shorts equal to 1 hour TWAP of Premium / 24. You can trade Futures
Contracts on the Futures Market by posting collateral in the form of Fiat
Currency (depending on your jurisdiction) and Virtual Assets to cover initial
and maintenance margin. Instead of delivery of the
underlying Virtual Asset, your profit or loss is settled in
stablecoins. IMPORTANT: Section 17 of the General Terms
applies to this service. Futures Contracts are
Complex Products, and the trading of Futures Contracts is high risk. The
market price of any Futures Contract may not reflect the price of spot
markets in the applicable underlying Virtual Assets and may fluctuate
significantly in response to the value of the underlying Virtual Asset’s(s')
price, supply and demand, and other market factors. In order to trade Futures
Contracts on the Futures Market, you must post collateral. Depending on
market movements, your positions may be liquidated, and you may sustain a
total loss of the Assets in your Account. This is because Futures Contract
trading can be highly leveraged, with a relatively small amount of funds used
to establish a position in a Virtual Asset or index having a much greater
value. For instance, a small price decrease on a 20x leveraged Futures
Contact’s underlying Virtual Asset could result in 20x loss in your leveraged
position in the Futures Contract. Further, short positions will lose money
when the price of the underlying Virtual Asset rises, a result that is
opposite from holding the underlying Virtual Asset. YOU AGREE AND HEREBY
AUTHORISE THE SERVICE PROVIDER AND ITS AFFILIATES TO TAKE
ANY MEASURES IN THEIR SOLE DISCRETION, INCLUDING BUT
NOT LIMITED TO, FORCED POSITION REDUCTION AND LIQUIDATION
UNDER MARKET VOLATILITY, ILLIQUIDITY AND OTHER CIRCUMSTANCES,
FOR THE PURPOSES OF MITIGATING POTENTIAL LOSSES TO YOU, OTHER USERS, AND THE
SERVICE PROVIDER AND ITS AFFILIATES. By trading in Futures
Contracts on the Futures Market on the Platform, you acknowledge and agree
that you have sufficient investment knowledge, financial expertise, and
experience and the capacity to take on the increased risks arising from
Futures Contract trading. You further agree to independently assume all the
risks arising from conducting Futures Contract trading on your own account.
If you are uncomfortable with this level of risk, you should not trade
Futures Contracts. THE SERVICE PROVIDER AND
ITS AFFILIATES DO NOT TAKE ANY RESPONSIBILITY WHATSOEVER
FOR ANY LOSSES OR DAMAGE INCURRED AS A RESULT OF
YOUR TRADING FUTURES CONTRACTS ON THE PLATFORM
OR YOUR FAILURE TO UNDERSTAND THE RISKS ASSOCIATED WITH FUTURES CONTRACT
TRADING. The Service Provider
reserves the right to final interpretation of this Specified Service. |
|
Risk disclosures |
See Section 2 of the General Terms. |
SCHEDULE 5
SERVICE SCHEDULE
|
Specified Service |
Earn (Yield Products) |
|
Specified Service specific terms (in addition to
the General Terms) |
|
|
Service Provider |
This Specified Service
forms part of the Services and is provided by M2, to all eligible Users other
than persons who have their registered office or place of residence in the US
or any Restricted Location. |
|
Risk disclosures |
See Section 2 of the
General Terms. |
SCHEDULE 6
SERVICE SCHEDULE
|
Specified
Service |
Crypto Loan Services |
|
Specified Service
specific terms (in addition to the General Terms) |
|
|
Service
Provider |
This Specified Service forms part of the Services and is provided by
M2, to all eligible Users other than persons who have their registered office
or place of residence in the US or any Restricted Location. |
|
Risk Disclosures |
Default Risk You must ensure that you have the financial capacity to meet all
repayment obligations under the Crypto Loan Service Terms. Failure to make
timely repayments may result in: (i) acceleration
of the outstanding loan balance, making the full amount immediately due; (ii)
additional fees and charges; (iii) liquidation of your collateral or other
Virtual Assets in your Account; (iv) legal action; or (v) other enforcement
measures taken by M2, which may negatively impact your financial standing. Collateral Risk You may be required to provide your Virtual Assets as collateral to
secure your obligations under the Crypto Loan Service Terms. You acknowledge
and accept that: (i) the value of your collateral
is subject to market fluctuations and a decrease in the value of your
collateral may result in a margin call, requiring you to provide additional
collateral within a short timeframe; (ii) if you fail to respond to a margin call,
M2 may liquidate all or part of your collateral without further notice; (iii)
the risks of loss when financing a transaction by providing collateral are
significant and you may suffer losses exceeding the value of your collateral;
(iv) if the loss incurred exceeds the value of your collateral, you are
legally responsible for the shortfall and may be required to provide
additional assets within a short timeframe; (v) M2 reserves the right to
change collateral requirements at any time without prior written notice and
if the value of your collateral falls below the required threshold, or if M2
increases collateral requirements, your collateral may be liquidated without
prior notice; (vi) M2 is under no obligation to notify you before executing a
margin call or liquidation of your collateral and it is your sole
responsibility to monitor your Account, collateral requirements, and market
conditions to avoid liquidation; and (vii) you should actively manage your
risk and ensure that your positions and collateral align with your risk
tolerance, particularly in periods of high volatility. Market Risk Market conditions may impact your ability to meet loan obligations and
affect the value of your collateral. You acknowledge and accept that: (i) economic downturns, price volatility, and changes in
market sentiment may increase the risk of default; (ii) unexpected events,
including regulatory actions, liquidity shortages, or technological failures,
may influence financial markets and adversely affect your loan position;
(iii) price fluctuations in Virtual Assets are inherent, and high volatility
may result in changes to your financial position, increasing your exposure to
risk; (iv) during periods of market stress, liquidity may be limited, which
could delay loan repayments or affect the ability to liquidate collateral;
and (v) if collateral is liquidated, unfavourable market conditions may
result in low recovery values and increased losses. Regulatory Risk The legal and regulatory framework for Virtual Asset lending and
digital financial services is subject to continuous change. You acknowledge
that:(i) future legal or regulatory developments
may affect the terms of, or availability of, the Crypto Loan Services; (ii)
M2 may update compliance requirements periodically, and you may be required
to take additional steps to remain compliant with Applicable Law or M2
policy; (iii) changes in legal interpretations or government actions could
impact your rights, obligations, and continued access to the Crypto Loan
Services; and (iv) you are solely responsible for ensuring that your use of
the Crypto Loan Services complies with all Applicable Law in your
jurisdiction. Funding Risks You acknowledge and accept that: (i) when
your Virtual Assets are provided as collateral in connection with your use of
any Crypto Loan Services, you will not be able to trade, transfer, or
withdraw those Virtual Assets; and (ii) the risks associated with your
inability to access or trade any Virtual Assets provided as collateral in
connection with your use of any Crypto Loan Services and the potential
economic losses resulting from price fluctuations during this period. Technical You acknowledge and accept that: (i)
technical anomalies, including system failures, cyberattacks, or connectivity
issues, may delay or prevent you from using the Crypto Loan Services,
potentially resulting in losses; and (ii) market anomalies or disruptions may
occur, which could affect the execution of loan-related transactions and lead
to financial losses. Risk and Liability You are solely responsible for all risks and potential losses related
to the use of the Crypto Loan Services. You acknowledge and accept
that M2 expressly disclaims liability for any losses, damages, or liabilities
incurred due to your access to or use of the Crypto Loan Services. These risk
disclosures are not exhaustive and do not cover all risks associated with
Virtual Assets and the Crypto Loan Services. You should conduct your own due
diligence and seek independent professional advice before using the Crypto
Loan Services. |