DIFX - General Terms and Conditions

General Terms of Use

Here you will find the more general terms and conditions (the "Terms") that apply to your use of our products and services, including how to communicate with us, how to manage your accounts, our anti-money laundering and anti-fraud policies, and our intellectual property rights.

1. Introduction.

Depending on the country where we are incorporated and with which your account is registered ("jurisdiction"), the terms "we", "us", and "our" mean or relate to one of the following:

1.1  DIFX Pty Ltd

2. Product Offering

The following is the business activities, license number, and their respective locations and regulators:

2.1 DIFX Pty Ltd, located in, is licensed and regulated by the Australian Securities & Investments Commission (ACN 668 081 945).

- To be eligible to use any of the services, you must reside in a country in which the said services are accessible in that country. By accessing or using this website, you represent and warrant that you have not previously been suspended or removed from the Site. You represent and warrant that you are not (a) located in, under the control of, or a national or resident of any country to which Singapore has embargoed goods or services. You further represent and warrant that you will not use the sites if the laws of your country prohibit you from doing so in accordance with these Terms.

3. Governing Laws and Jurisdiction

   3.1.   It is your responsibility as you access DIFX to make sure that you understand and fully follow the relevant laws and regulations of your own country. We do not support any offerings or make any solicitations that are illegal in your country, and you cannot use your DIFX account for such prohibited offerings. In some countries, we may not be permitted to offer our products and services to you unless you have taken proactive steps to solicit information about them and requested to be provided with our products and services. Access to DIFX and the offering of certain trades via DIFX may also be restricted in some jurisdictions. It is your responsibility to know about the restrictions that apply in your country of residence and to observe them, as in continuing to access our products and services you represent to us that you are doing so legally and that, where relevant, you have solicited information about our products and services and requested to be provided with them.

   3.2.   Depending on where you live, your account will be governed by the laws of the country of incorporation of the company that your account is registered with, as set out in Clause 3.4. below. If you have registered more than one account with more than one company, each account will be governed by the law of the country of incorporation of the company with which each individual account has been registered with. You agree to submit to the applicable jurisdiction's courts and bring any claim you may have before them. These courts will have sole authority to settle any disputes that may arise between you and us.

   3.3.   If a court or regulatory body of competent jurisdiction declares any provision of the Terms to be invalid or unenforceable, the rest of the Terms shall remain in full force and effect.

   3.4.   The applicable jurisdiction shall be one of the following:

   3.4.1.  DIFX Pty Ltd – Australia.

4. Communication with Us

   4.1.   You can contact us via our email, mobile applications, or online chat. Contact details can be found on the Contact Us page of our website.

   4.2.   It is your responsibility to make sure that you are able to receive the emails we send you.

5. Account Management

   5.1.  Account opening and maintenance.

To open a DIFX account, you need to meet all of the following conditions:

5.1.1.  You have read the Terms in full and have understood that you will be buying and selling trades subject to the Terms.

5.1.2.  You have read our Security and Privacy statement and are aware of how we process information.

5.1.3.  You are acting only for your own benefit and not for any other person or on behalf of anyone else.

5.1.4.  You are over 18 years old.

5.1.5.  You are not a resident of a Restricted Country.

5.2.  Account closure

5.2.1.  You can close your account yourself or ask us to close it for you. However, you can only close your account and withdraw any pending funds if you do not have any open trade positions and have complied with the requested Know Your Customer procedures.

5.2.2.  If you do not comply with these Terms, we may close your account and, where appropriate, withhold any funds accumulated in it.

5.3.  Dormant accounts.

5.3.1.  If your account has not recorded any transactions for a period greater than twelve months, it will be considered a dormant account, and we reserve the right to charge you a dormant fee of up to 25 USD/EUR/AUD/GBP or the equivalent of 25 USD in any other currency as calculated in accordance with the current exchange rate published by XE or any other recognized data provider as at the date the dormant fee is charged. We reserve the right to charge you a dormant fee for every six-month period that your account remains dormant.

5.3.2.  If your account has been locked or suspended and has not recorded any transactions for a period of twelve months or more, we reserve the right to rescind your account funds.

5.3.3.  Your account funds will be rescinded if your account has been inactive for 30 days with an account balance of 1 USD/AUD/EUR/GBP or less.

5.3.4.  If your account is closed or blocked, you must contact our Help Centre to recover funds from your account. If your account is dormant, you can still make withdrawals.

5.3.5.  Dormant DIFX MT5 and DIFX accounts.

5.3.5.1.  We have the right to delete your DIFX MT5 and DIFX demo accounts after 30 days of inactivity.

5.3.5.2.  We have the right to archive your DIFX MT5 and DIFX X real accounts after 30 days of inactivity. To reactivate a real account, you may contact our help center.

5.3.5.3.  Any pending funds in your DIFX MT5 or DIFX X accounts will be transferred to your DIFX account.

6. Know Your Customer

   6.1.  General

   6.1.1.  We may, at our sole discretion, or as otherwise required by law, conduct appropriate Know Your Customer (KYC) procedures, for which you will need to register in full and provide us with specific documents to prove your identity, address, and financial means.

   6.1.2.  During registration, you may need to provide your full name, address, date of birth, place of birth, country of residence, contact number, and email address.

   6.1.3.  Depending on applicable regulations that govern your account, the KYC documentation that we shall request may include, but may not be limited to, the following:

   6.1.3.1.  Proof of identity: a clear colored copy of an identity document, such as your national ID card, passport, or driving licence.

   6.1.3.2.  Proof of address: a formal document that contains your address, for example, your bank statement, tenancy agreement, or a utility bill (mobile phone bills are not accepted).

   6.1.3.3.  Proof of wealth: a formal document that shows your source of funds, for example, your pay slip or bank statement.

   6.1.4.   We may suspend your account until you provide satisfactory identification information, evidence of identity and address, source of funds, and/or source of wealth.

   6.1.5.   If any of your KYC documentation expires, we have the right to request additional non-expired KYC documentation.

   6.1.6.   You agree to allow your information to be disclosed to third parties for the purposes of KYC and any other checks.

   6.2.  Money laundering

   6.2.1.  You shall not use DIFX for the purpose of money laundering.

   6.2.2.  Funds that originate from criminal activity shall not be accepted.

   6.2.3.  We will report suspicious transactions to any relevant authorities.

   6.2.4.  We have the right to suspend, block, or cancel any account through which suspected money laundering has taken place.

   6.2.5.  We have the right to check all transactions to prevent money laundering. To comply with our anti-money laundering policy, make sure to follow the instructions below:

   6.2.5.1.  You must complete the account opening form and provide all requested details to establish your identities, such as valid identification, address, email address, and personal telephone number.

   6.2.5.2.  You must register personally.

   6.2.5.3.  You must give us all the necessary details so that we can process any withdrawal requests to the payment method of your choice.

   6.2.5.4.  Withdrawals may only be paid to the account holder.

   6.2.5.5.  You shall not hold or pool third-party funds in your DIFX account.

   6.2.5.6.  You shall not sell, transfer, and/or give your account to any other person.

   6.2.5.7.  You shall not acquire any DIFX account from any other person.

6.3   Fraud

6.3.1.  We may use the personal information that you provide to conduct anti-fraud checks.

6.3.2.  The personal information that you provide may be disclosed to identity verification, credit reference, or a fraud prevention agency, which may keep a record of that information.

6.3.3.  You must provide us with up-to-date, accurate, and complete information; otherwise, we have the right to reject any information you provide that does not appear to us to be up-to-date, accurate, or complete or request that you correct or verify any details provided.

6.3.4.   We have the right to ask you for information to verify that you are following the Terms. If you do not comply with our reasonable request for information, we may close, block, or suspend your account.

6.3.5.  Your telephone conversations and/or electronic communications related to your use of DIFX may be recorded. These recordings may be used for anti-fraud purposes in accordance with our Security and Privacy Policy.
 

6.4.  Warranties and indemnities

6.4.1.You warrant and represent to be fully and personally responsible for settling every transaction into which you enter through your account with us. You are responsible for ensuring that you alone control access to your account and that no minors are granted access to the DIFX website. You remain fully liable for any and all positions traded on your account and for any credit card or other transactions entered into through the DIFX website for your account. You agree to indemnify us against any and all costs and losses of any kind whatsoever that we may incur as a direct or indirect result of your failure to perform or settle any such transaction entered into through the DIFX website.

6.4.2.You are responsible for compensating us for any costs and losses that we might incur or bear as a result of your failure to comply with any of your obligations mentioned in these Terms. This includes indemnifying us against any costs that arise through the enforcement of any of our rights under the Terms.

6.4.3. We reserve the right to refuse or cancel any of our services, refuse or reverse any of your trades, and charge you the deposit and/or withdrawal fees for any reason, including but not limited to the following:

6.4.3.1.  Any instance where we believe that your activity on DIFX may be illegal in your country or state or that it may breach any laws, regulations, instruments, ordinances, or rules.

6.4.3.2.  Any instance where we believe that your activity on DIFX may breach any laws, regulations, instruments, ordinances, or rules that govern the operation of any exchange, financial market, or financial regulatory environment or where you make any false or misleading representation to us breaching Clause 3.1

6.4.3.3.  Any instance where legal authorities, law enforcement agencies, or regulators approach or contact us with a request preventing us from offering our services to you.

6.4.3.4. Any instance where we may suffer any pecuniary, fiscal, or regulatory disadvantage because of your activities on DIFX.

6.4.4.  We have the right to prohibit you from trading on DIFX and/or reverse any affected trades if, at our sole discretion, we determine that you are in possession of insider information, or have insider knowledge, relating to any financial market, issuer, or instrument, or have attempted to manipulate the market for any financial instrument.

7. Trading on the Market

7.1.  You may buy or sell a Virtual Asset by placing an instruction on the Platform (Order) in any of the following "Trading Pairs": fiat currency into Virtual Assets; Virtual Assets into fiat currency: or a Virtual Asset into another Virtual Asset.

7.2. Trading activity on the Market, which includes but is not limited to Order placement, confirmation, execution, cancellation, and the settlement or reversal of executed Trades, shall also be subject to the Market Rulebook. You should verify all transaction information prior to submitting an Order. You acknowledge and agree that it is your sole responsibility to ensure the validity and accuracy of your Order, including that of the recipient of any Assets, that and we shall not be liable for the consequences of you not providing valid and accurate information when placing an Order.

7.3. The Market is accessible 24 hours a day, 7 days a week, and 365 days a year, except for any period during which scheduled maintenance or upgrades are being carried out, or in the event that the Market encounters an interruption or outage that is unexpected or beyond its control.

7.4. We may, at our sole discretion and without prior notice close your Account, suspend your access or use of the Platform or the Services, refuse any Order you submit, or impose limits on your trading amounts on the Platform if we deem that you may have contravened the Market Rulebook.

7.5. You may only place an Order using the Platform if your Account contains sufficient Assets to cover your Order and any associated Fees. If your Account does not contain sufficient Assets to complete an Order on the Platform, you will not be able to complete such an Order on the Market.

7.6. When you place an Order, that quantity of the relevant Asset (including any applicable Fees) is placed on hold in the Account until the Order fills, expires, or is canceled. Any unfilled portion of your Order will remain on hold until it fills, expires, or is canceled.

7.7. You may withdraw or cancel an Order after it is submitted, as long as such Order has not been executed pending confirmation by the relevant Virtual Asset network. Virtual Assets which are the subject of a pending Trade shall not be reflected in your Account, and shall, therefore, not be available for you to Trade. You understand and agree that all:

7.7.1. Trades are irreversible once Orders are executed and

7.7.2. While we may, at our sole discretion, reverse a Trade under certain extraordinary conditions (including but not limited when we consider in our sole discretion that a Trade may be in breach of Applicable Laws and Regulations or is related to Financial Crime), you however, do not have a right to a reversal of a Trade.

7.8. We will send a confirmation to you by email, a Notice, or any other means of communication as provided for under this User Agreement, every time you place an Order, cancel an Order, and when that Order is partially or completely filled.

7.9. By entering into this User Agreement, you acknowledge and agree that:

7.9.1. By entering into a Trade on the Market, you are instructing DIFX to carry out the Trade at the buy price or sell price quoted on the Platform on the basis of which you placed the Order, and you agree to pay any associated Trade Fees and other Fees as published on our Website or notified to you from time to time. The price of a Trade shall be determined to be the price agreed between you and the other party to that Trade, and DIFX shall not be a party to such Trade or responsible for setting or negotiating the price of a Trade. You shall not claim against DIFX regarding such Trade. DIFX does not guarantee the completion of any attempted sale or purchase of Virtual Assets:

7.9.2. We carry out Trades based on price-time priority.

7.9.3. You are subject to the same price-time priority as any other Client on the Platform:

7.9.4. Orders submitted through the API are subject to the same price-time priority than Orders received otherwise from the Platform:

7.9.5. All filled Orders are settled immediately, by debiting and crediting the relevant balances of Assets in both parties' Accounts. You will receive immediate notification or your fill(s) via the Platform and/or via email or any other agreed means of communication and can be viewed in your trading history.

7.9.6. APIs enable you to stream live prices into their own user interface as well as to perform the same Trade or place and the same Order which is available to you on the Platform.

7.9.7. In order to maintain a fair and orderly market, we may restrict the number of Orders allowed through the API and monitor messages through the API in order to protect the API against denial-of-service attacks; prevent the abuse of an order book; and improve the overall trading experience on the Market.

7.9.8. We may limit the number of Orders placed through your Account, and that your use of the API will be for legitimate trading purposes, and any repeated violation of Order rate limits will result in us suspending or closing your account in accordance with this User Agreement.

7.9.9. The transaction history provided on the Platform is the true and accurate record of your transactions. It is your responsibility to remain up to date on your transaction history and any Notices with respect to your Account.

7.10. You understand and agree that there may be a delay in executing your Trade on the Market as the result of DIFX's secure trading protocols which require Virtual Asset private keys to be stored securely using a combination of online and offline storage for added security.

8. Custody Services

8.1. You may transfer funds and Virtual Assets to your Account from any of the bank accounts or External Wallets registered on the Platform. We may require you to verify that you control the bank account or External Wallet from which you transfer Assets to your Account. You may withdraw or transfer Assets from your Account, into a bank account or an External Wallet, as the case may be, which is under your control and registered with DIFX. You understand and agree that DIFX shall have sole discretion to accept to register on the Platform any such bank account or External Wallet you specify. It is your responsibility to ensure the timely and proper transfer to and from your bank account or External Wallet.

8.2. You acknowledge and agree that:

8.2.1. You are solely responsible for your use of your bank account and External Wallet, and any transfers of Assets from your bank account and External Wallet and your Account, and that we shall not be liable for any losses resulting from the delay in receiving Assets into your Account if such delay is not due to our gross negligence, fault or fraud:

8.2.2. You shall be responsible for ensuring that any inbound and outbound transfer of Assets is handled in compliance with our requirements, any relevant third party, or External Wallet provider requirements:

8.2.3. You shall be responsible for ensuring that the address to which any Virtual Assets are to be transferred is properly formatted and suitable for the type of Virtual Asset being transferred. We will not be able to reverse any transfer and shall not have any responsibility or liability if you instruct us to transfer a Virtual Asset to an address that is incorrect, improperly formatted, erroneous or intended for a different type of Virtual Asset; and

8.2.4. You shall be responsible for ensuring that there are no errors in any of the transfer instructions.

8.3. If you fail to comply with any requirements of Clause 2, the transferred Virtual Assets may be permanently lost. The timing for completing any transfer will depend on the acts of third parties that are outside of our control and we make no guarantee regarding the amount of time it may take to complete any such transfer.

8.4. You acknowledge and agree that we may impose limits on the amount of any inbound or outbound transfers, or suspend the ability to transfer assets into or out of your Account, or terminate this User Agreement:

8.4.1. In order to comply with Applicable Laws and Regulations;

8.4.2. In order to comply with an order from law enforcement or other governmental authority:

8.4.3. Otherwise, at our discretion for the security of the Platform or other appropriate reasons.

8.5. Segregation of Assets; DIFX shall hold:

8.5.1. Any funds credited to your Account in a bank account designated for that purpose; and

8.5.2. Any Virtual Assets you transfer to your Account in a combination of a "hot wallet" and a "cold wallet", which are protected by multi-signature authority requirements to reduce both internal and external risk factors. When DIFX holds Virtual Assets in custody on your behalf, you acknowledge that you shall be subject to the protection of the "Safe Custody Provisions" as provided for under the applicable Rules.

8.6. DIFX shall ensure that its own assets are held at all times separately from the Assets which it holds on your behalf or on behalf of its Clients.

8.7. Third-party custodians: You acknowledge and understand that any Assets we hold in custody on your behalf with third-party custodians may be held in an outside jurisdiction and the market practices, insolvency, and legal regime applicable in that jurisdiction may differ from the regime applicable in the relevant jurisdiction.

8.8. No Interest: Funds held in your Account shall not accrue interest.

8.9. Pooling of Assets: You understand and agree that any Assets you transfer to your Account may be pooled with other Clients' Assets but shall at all times remain segregated from DIFX's own assets.

8.10. Reconciliation: DIFX shall conduct a daily reconciliation of the bank accounts and the Virtual Asset wallets in which it holds Assets on your behalf.

8.11. Account statements: DIFX shall provide a near real-time information in relation to your Account through the Platform and shall send you a statement of your Account at least on a monthly basis. The statement of your Account shall, at a minimum, reflect the amount of funds, expressed in the currency in which they are held, and a list of Virtual Assets, which you hold in such Account. DIFX shall also provide you with the details of Trades you enter on the Market, and any transfers of Assets into or out of your Account.

8.12. Set-off: You hereby expressly and irrevocably agree that:

8.12.1. We may set-off any amounts due to us under this User Agreement, including any Fees, against any funds or Virtual Assets we hold on your behalf:

8.12.2. We shall first set-off against any such funds which are to the credit of your Account, and if these are not sufficient to cover the amount owed to us, we shall sell the appropriate amount of Virtual Assets at Market price to pay the balance of such amounts you owe to us.

9. Negative Balance Protection

9.1. Based on your country of residence, negative balance protection might apply to you according to local regulations. In that case, if your balance becomes negative due to Stop Out, automatic compensation will revert your balance to zero.

9.2. The provisions of negative balance protection do not apply in the following situations:

9.2.1. When you open a trade that is considered prohibited

9.2.2. When you are a professional client or eligible counterparty

9.2.3. When a negative balance results from your breach of any of the terms of this agreement

10. Force Majeure Events

10.1. Force majeure events are events beyond the control of either of the parties and are not reasonably foreseen. They may include but are not limited to acts of God, war, state or governmental actions, exchange controls, nationalizations, devaluations, forfeitures, natural disasters, terrorism, and other inevitable, unforeseeable, unanticipated, and unpredicted events that are not dependent upon the will of the parties.

10.2. If any of the parties fail to meet its obligations under the Terms because of a force majeure event, that party shall not be considered liable.

11. Intellectual Property Rights

    11.1.  We own all intellectual property rights in, and to all, DIFX businesses, information, technology, and other proprietary materials, including but not limited to the DIFX website and products (including but not limited to all software, concepts, methodologies, techniques, models, templates, algorithms, trade secrets, processes, information, materials, source codes, structure, sequence, organisation, images, text, graphics, illustrations, data, and know-how contained therein, all modifications, alterations, updates, upgrades, and enhancements thereof, all documentation and manuals related thereto, and all other aspects of such technology or product) or their derivatives, the name of DIFX or any of its derivatives, and any other names and logos and all related product and service names, design marks and slogans, trademarks (whether registered or not) which we own or control and make available to you through our website or otherwise. This intellectual property is under Copyright DIFX with all rights reserved, and the word DIFX and the DIFX logo are registered trademarks.

    11.2.  Copying and distributing such materials for non-commercial purposes are allowed only with our express written permission on a limited basis, provided that each copy of the material remains intact.

    11.3. To copy or redistribute such materials for commercial purposes or for compensation of any kind, you must: (a) obtain our prior written permission and (b) make sure that all copies include the following notice in a clearly visible position: 'Copyright DIFX. All rights reserved.'

    11.4. Copying and distributing such materials for non-commercial purposes are allowed only with our express written permission on a limited basis, provided that each copy of the material remains intact.

    11.5. To copy or redistribute such materials for commercial purposes or for compensation of any kind, you must: (a) obtain our prior written permission and (b) make sure that all copies include the following notice in a clearly visible position: 'Copyright DIFX. All rights reserved.'