Account |
Accounts opened and maintained on ECmarkets for users to use services and conduct transactions on the ECmarkets platform, including any digital asset sub-accounts that reflect the users digital asset balance. In these Terms, "your account" means your account and/or any account that you have control over or access to, or if you are a representative, agent or any account in which you have similar authority or role. |
Extra services |
Perpetual contracts, options, index tracking and margin loans provided by Aux Cayes FinTech Co. Ltd., a registered company in Seychelles. |
Anti-Money Laundering Program |
Reasonably prevent money laundering and terrorist financing activities through a risk-based multi-level management and control system. |
API |
Application interface, a connectivity feature that allows users to operate their accounts on the ECmarkets platform. |
Applicable laws and regulations |
Apply to the laws, regulations and rules promulgated, replaced, revised, extended, merged, replaced and/or re-promulgated from time to time by any competent authority in any relevant jurisdiction for ECmarkets, the ECmarkets Platform and/or users. |
applicant |
A person who applies to open an account at ECmarkets to conduct transactions on the ECmarkets platform. |
Assets |
Digital assets or fiat currency |
authorized body |
Any governmental, regulatory, judicial, law enforcement or public authority (whether in the Bahamas, Hong Kong, Brazil, Singapore, Seychelles or any relevant jurisdiction) having jurisdiction over ECmarkets, the ECmarkets Platform or the activities of any user. |
Contract |
CFD |
Service |
A team that provides our customers and potential customers with prompt responses and solutions to questions, feedback or complaints |
Darknet |
A hidden services marketplace or any other service or website that acts as a marketplace for illegal goods |
digital assets |
Any digital asset based on a computer network cryptographic protocol that can be (i) centralized or decentralized, (ii) closed or open source, and (iii) used as a medium of exchange and/or store of value. In addition, digital assets are expressed in units; capable of being transferred, stored and traded on a peer-to-peer basis with or without conditions or restrictions; and used for trading from time to time with the approval of ECmarkets. For the avoidance of doubt, any Digital Asset: (x) is transferred on any additional layer on top of a blockchain related to another Digital Asset or any side chain; (y) is a derivative of another Digital Asset, with enhancements Features or functions that can supplement or interact with another digital asset; will be regarded as a digital asset that is different from such other digital assets, and its use in connection with the service will be subject to the approval of ECmarkets. Digital assets also include NFTs and other digital collectibles. |
Enhancing due diligence |
Users designated as high-risk projects receive enhanced review and due diligence. |
Event of Default |
Any of the following events: (a) You cease or suspend payment of any of your debts, loans, lines of credit, facilities or any equivalent when due, or are unable or admit to being unable to pay a debt when due, a loan, line of credit, extension of credit or any equivalent; (b) you commence negotiations or enter into any settlement, compromise, assignment or arrangement with one or more of your creditors to reschedule any of your debts ( due to actual or anticipated financial difficulty); (c) declare a moratorium on any of your debts; (d) any action, proceeding, process or Steps: (i) Your debts, insolvency, bankruptcy, judicial administration, winding up, dissolution, receivership or reorganization (using a voluntary arrangement, scheme of arrangement or otherwise) (as the case may be) (each, a "Insolvency Event"); (ii) a suspension or moratorium on payments in preparation for, in anticipation of, or in connection with any Insolvency Event; (iii) ) any settlement, compromise, assignment or arrangement with any of your creditors; (iv) the appointment of a liquidator, receiver, administrative receiver, trustee in respect of you or any of your assets (or business, as applicable) person, judicial administrator, administrator, compulsory administrator or other similar administrator; or (v) protect your creditor rights. (e) the value of your assets is less than the value of your liabilities (taking into account contingent and anticipated liabilities); (f) you breach any provision of these Terms ; (g) if you are not a natural person, you cease or threaten to cease your business; (h) you are unable to lawfully perform or comply with any of your obligations under these Terms; < br>(i) Implement, enforce or apply for attachment, seizure, execution, expropriation, confiscation or other similar legal proceedings against your assets, and such legal proceedings are not lifted or stopped within 21 days; (j) any security relating to an indebtedness on your assets (the "Security") becomes enforceable; (k) any security, which may include but is not limited to a security deposit: < br> (i) ceases to be fully valid; or (ii) is alleged to be invalid by the relevant secured creditor; (l) you reject, revoke or indicate your intention to reject or revoke Any financing agreement to which you are a borrower; and/or (m) any event occurring in any jurisdiction that is similar to the events set out in the above clauses under this definition that occurs in any jurisdiction with respect to you. |
fiat currency |
Government-issued currency that is designated as legal tender by government decree, regulation, or law in the country in which it is issued. |
make a deal |
The complete or partial matching of two orders on the ECmarkets platform results in the generation of a transaction |
Financial crime |
Money laundering, terrorist financing, evasion of economic sanctions, tax evasion, bribery and corruption, including but not limited to money laundering and terrorist financing crimes, and conduct that may constitute "market abuse", as applicable to ECmarkets Bahamas, ECmarkets Hong Kong, ECmarkets Brazil, ECmarkets as defined by the applicable laws and regulations of Singapore or Aux Cayes (as the case may be and as may be amended from time to time). |
force majeure |
Events beyond the reasonable control of ECmarkets or the user, which will prevent or seriously hinder ECmarkets or the user from performing any of its obligations, including but not limited to: (a) Acts of God, fire, storm, storm, explosion, Flood, earthquake, subsidence or any other natural disaster; (b) Acts of war, terrorism, riot, civil strife, military action, insurrection, rebellion or revolution and any other similar act; (c) Epidemics; (d) Failures or disruptions in electricity, communication channels, hardware, software, Internet connections and information systems; (e) Actions of states or governments, Political Interference, Sanctions and Embargoes (f) Any other similar acts or events, interruptions, errors, distortions or delays, provided that such events are not the result of fraud, gross negligence or willful breach of contract by a party. |
perpetual contract |
A legal contract to buy or sell cryptocurrency at a later date |
hard fork |
Occurs when the blockchain protocol changes so fundamentally that it is incompatible with older versions. Parties involved in transactions on the old blockchain must upgrade to the new blockchain to continue validating transactions. However, parties not upgrading can continue to independently support and verify transactions on the old blockchain protocol. Hard forks can be planned or unplanned (controversial). |
Indirect loss |
Any loss related in any way to special, indirect, incidental, exemplary, punitive, multiple or consequential damages, including loss of business or opportunity, customers or contracts, loss of overhead expenses, management or employee time, anticipated profits or loss of revenue or other financial profits, loss of use of hardware or software, loss of data or information or corruption of data (including losses arising out of or in connection with any inaccuracies, defects or omissions in digital currency price data; any error or delay; and/or any interruption of any such data), or loss of business interruption, loss of reputation or goodwill, whether or not: (a) A party has been advised of the restoration of such data The possibility or likelihood of loss; or (b) arising under contract, tort, strict liability or any other legal theory. |
loss |
Any claim, demand, suit, proceeding, liability, expense (including legal and professional fees), costs, charges, injury, damages, fines, penalties or diminution in value. |
Margin |
The amount you need to pay to open and maintain a Transaction, as set out in clause 1 above |
Margin Loan |
Peer-to-peer lending service that allows users to borrow/lend digital assets to each other and earn rewards |
natural person |
Any individual and his or her property and personal representatives. |
Notice |
ECmarketss binding communications to users are required from time to time to inform users of specific matters related to the normal operation of the ECmarkets platform and users use of services, including but not limited to policies, fees or any other changes related to matters. |
Notice of Arbitration |
A document stating that a party intends to submit a dispute to one or more arbitrators who will make a binding decision on the dispute |
ECmarkets |
ECmarkets Bahamas, ECmarkets Hong Kong, ECmarkets Brazil, ECmarkets Singapore or Aux Cayes (as applicable to the respective user). |
ECmarkets PLATFORM |
Access the online platform through [ECmarkets.online](http://ECmarkets.online/), API or mobile applications operated by ECmarkets. |
Order |
Instructions related to a transaction |
C2C |
Peer-to-peer matching service that allows users to exchange their fiat and digital assets with each other. |
Prohibited business |
Prohibited business listed in Article 3 |
Related party |
ECmarketss affiliates, subsidiaries, sister companies, associated companies and/or related companies. |
Restricted areas |
As stated in Section 2.2, ECmarkets may update the list of locations where ECmarkets does not provide or only provides limited services from time to time. |
Risk Statement |
ECmarketss statement to users regarding the risks of trading on the ECmarkets platform stipulated in Article 6 |
Serve |
The services provided by ECmarkets to users in accordance with these Terms include transactions on the ECmarkets platform and custody of user digital assets. |
Ready stock |
ECmarkets provides spot trading of digital assets via (a) C2C (peer-to-peer) or (b) centralized trading platform. |
Stop loss order |
Refers to the stop-loss function described in clause 6.74 |
These Terms |
These Terms of Service and all schedules, product details, any supporting documentation referred to and any amendments thereto. For the avoidance of doubt, this Agreement supersedes and replaces any customer agreement previously in effect between you and us. |
Trade |
A transaction resulting from the execution of two orders on the ECmarkets platform |
User |
A natural person or legal entity (such as a business or institutional client) who uses the ECmarkets platform, to whom ECmarkets provides services in accordance with these Terms, and who agrees to these Terms. For the avoidance of doubt, Users may include related parties engaged in the trading activities described in Section 4.6. |