Terms and Conditions
Last updated September 14, 2023
These Terms and Conditions contain an electronic agreement between you (also referred to as “User”, “you”, “your”, as appropriate), DXS (also referred to as “Service”), the brokerage web application for self-directed financial traders, managed by DXS Brokerage LLC, incorporated under registered number 2853 LLC by the Registrar of Limited Liability Companies, registered by the Financial Services Authority of Saint Vincent and the Grenadines, First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines, and the Open Liquidity Protocol (also referred to as “Protocol”), the software managed by DXS Brokerage LLC, incorporated under registered number 2853 LLC by the Registrar of Limited Liability Companies, registered by the Financial Services Authority of Saint Vincent and the Grenadines, First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.
The Service operates on top of the Protocol. The Service is responsible for web application and customer support. The Protocol autonomously operates the trading engine and handles liquidity settlement at the end of a trading session.
The User is solely responsible for understanding and complying with any and all laws, rules and regulations of his/her specific jurisdiction that may be applicable to the User in connection with the use of any and all services, products and content of the Service. The User should be aware that the risk of loss in trading or holding trading positions can be high.
IF THE USER DOES NOT ACCEPT AND/OR UNDERSTANDS THESE TERMS AND CONDITIONS, THE USER SHALL NOT ACCESS THIS SITE AND SHALL NOT USE ANY OF DXS SOFTWARE, SERVICES, PRODUCTS AND CONTENT.
These Terms and Conditions are in addition to any other agreements between you, the Service and the Protocol, including any user or account agreements and any other agreements that govern your use of software, products, goods, services, content, tools, and information provided by the Service and the Protocol, including, without limitation, the Prohibited Persons policy available on the Service.
The Service may include or make available certain content (or “Content”). Content includes, without limitation: (1) account positions, balances, transactions, confirmations, and order history; (2) general news and information, commentary, research reports, educational material and information and data concerning the financial markets, securities and other subjects; (3) market data, provided by third party services, such as quotations for securities transactions and/or last sale information for completed securities transactions; (4) financial and investment interactive tools, such as price charting tools provided by third party services; (5) account management tools; (6) company names, logos, product and service names, trade names, trademarks and service marks (collectively, Marks) owned by the Service, and Marks owned by third party services; and (7) any other information, content, services, or software.
The Service and the Protocol guarantee that trading activity of its Users and information about their trading positions will not be used by the Service or any other entity or individual for any purposes.
The Service and the Protocol are experimental technologies and trading here, at this early stage, involves respective risks and limited profit potential. Trading liquidity is generated automatically by settling trading losses against trading profits via mutual margin and insurance pools. Lack of losses required to settle profits means that profits will be rebated or deducted. The Service and the Protocol do not guarantee availability of liquidity required to take trading profits.
The Protocol is programmed to automatically settle profits against losses at certain predefined rules as laid out in the Liquidity Mechanism information note available on the Service. The Protocol is designed to run on the Bitcoin SV blockchain and governed by a distributed network of unpredictably selected servers via multi-signature access (or “Network”). At the time of publishing these Terms and Conditions the Protocol is hosted on a single server, maintained by the Company. The Company is responsible for keeping rules programmed in the Protocol, unchanged, until the Network is rolled out.
The Content and the Services are provided on an “as is” and “as available” basis. To the fullest extent permitted under applicable law, the Service expressly disclaims all warranties of any kind with respect to the Content and the Service, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement. The Service does not guarantee the accuracy, timeliness, completeness or usefulness of any Content on the platform. You agree to use the Content and the Services only at your own risk.
The Content is not intended to provide financial, legal, tax or investment advice or recommendations. You are solely responsible for determining whether any trading, trading strategy or related transaction is appropriate for you based on your personal objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation.
THE SERVICE AND THE PROTOCOL AND THE THIRD PARTY SERVICES WILL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, REVENUE, INCOME, GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES (EVEN IF THE SERVICE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), RESULTING FROM: (1) THE USE OF OR THE INABILITY TO USE THE CONTENT OR THE SERVICE; (2) THE COST OF PROCUREMENT OF SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY GOODS, DATA, INFORMATION, SERVICES PURCHASED OR OBTAINED, MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO, THROUGH OR FROM THE SERVICE; (3) ACCESS TO OR ALTERATION OF YOUR ACCOUNT, TRANSMISSIONS OR DATA DUE TO YOUR CONDUCT, INACTION OR NEGLIGENCE; OR (4) ANY OTHER MATTER RELATING TO THE CONTENT OR THE SERVICE.
The Service provides self-directed traders with brokerage services and does not make recommendations or offer trading advice of any kind. You are solely responsible for evaluating the merits and risks associated with the use of any Content provided through DXS before making any decisions based on such Content. You agree not to hold the Service or the Protocol liable for any possible claim for damages arising from any decision you make based on the Content or other information made available to you through the Services offered. Past performance data should not be construed as indicative of future results.
Content posted on the Service is published as of its stated date or, if no date is stated, the date of first posting. The Service has not undertaken any duty to update any such information. The Service does not prepare, edit, or endorse the Content. The Service does not guarantee the accuracy, timeliness, completeness or usefulness of the Content, and is not responsible or liable for any content, advertising, products, or other materials on or available from third-party sites. You will not hold the Service liable in any way for (a) any inaccuracy of, error or delay in, or omission of the Content; or (b) any loss or damage arising from or occasioned by i) any error or delay in the transmission of such Content; ii) interruption in any such Content due either to any negligent act or omission by any party to any “force majeure” (e.g., flood, extraordinary weather conditions, earthquake or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications or power failure, equipment or software malfunction), or iii) to any other cause beyond the reasonable control of the Service, or iv) non-performance.
Any price quotes may be delayed 20 minutes or longer, according to the rules and regulations applicable to exchanges and third-party services. DXS does not make any representations, warranties or other guarantees as to the accuracy or timeliness of any price quotes. Content is provided exclusively for personal and noncommercial access and use. No part of the Service or Content may be copied, reproduced, republished, uploaded, posted, publicly displayed, encoded, translated, transmitted or distributed in any way (including mirroring) to any other computer, server, web site or other medium for publication or distribution or for any commercial enterprise, without the team behind DXS express prior written consent. You acknowledge that the Service and other Marks are the property of their respective owners. You agree that you will not use any Marks for any purpose without the prior express written consent of the respective owners.
You agree that the Service may freeze and/or terminate accounts as well as reclaim margin, realized profits, unrealized profits and accrued profit deduction balances without notice in the event that the User manually constructs and broadcasts transactions compliant with the Protocol allowing them to bypass the Service’s UI.
You agree that the Service may freeze and/or terminate accounts as well as reclaim margin, realized profits, unrealized profits and accrued profit deduction balances without notice in the event that the User trades from multiple unlinked accounts for the purposes of bypassing the Service’s limits/restrictions.
You agree that the Service may freeze and/or terminate accounts as well as reclaim margin, realized profits, unrealized profits and accrued profit deduction balances without notice in the event that the User colludes with other Users for the purposes of replicating trades beyond the Service’s limits/restrictions or so-called copy trading.
Currently, the Service does not allow copy trading but the implementation of such a feature is planned along with special conditions in the future.
You agree that the Service may freeze and/or terminate accounts as well as reclaim margin, realized profits, unrealized profits and accrued profit deduction balances without notice in the event that the User uses one-time phone number services for phone number verification on the Service.
You agree that the Service may cancel realized and unrealized profits as well as accrued profit deduction balances that result from price feed malfunction.
You agree that the Service may pause a price feed and/or delist an asset without notice under conditions of price feed instability and/or extreme price volatility. You agree that the Service may without notice forcibly close existing positions on assets that have been paused and/or delisted at the most recent quoted price. The Service shall not be liable for any missed potential profits.
You agree that the Service may freeze and/or terminate accounts and reclaim margin and unrealized profits without notice in the event that the User trades with automated processes (also referred to as “trading bots”).
You agree that the Service may freeze and/or terminate accounts and reclaim margin and unrealized profits without notice in the event that the User exploits an error, flaw or fault in the design of the Service (software bug).
You agree to refund to the Service any profits taken as a result of an error, flaw or fault in the design of the Service (software bug).
IMPORTANT: By trading with your Bounty Balance you accept the Terms and Conditions and understand that your Bounty Balance can be nullified in the case of prolonged inactivity.
Bounty Trading is available to majority of Users, but is not guaranteed. If available, Bounty Trading can be accesses by following the instructions as presented in the pop-up windows on the Service or under the Bounty Trading section in the menu of the Service.
Bounty Money is credited to User's Bounty Balance on the Service and may only be used for trading on the Service. Any profits earned through Bounty Trading using Bounty Money belong to the User and are automatically transferred to the User's private wallet at the end of the corresponding trading session.
You agree that the Service may freeze and/or terminate accounts as well as reclaim margin, realized profits, unrealized profits and accrued profit deduction balances without notice in the event that the User trades from multiple unlinked accounts for the purposes of obtaining multiple Bounty Balances.
Reclaimed, cancelled, frozen, nullified or terminated Bounty Money amounts cannot be refunded.
Bounty Trading liquidity is generated automatically by settling Bounty trading losses against Bounty trading profits via mutual margin and insurance pools. Lack of losses required to settle profits means that profits will be rebated or deducted. The Service and the Protocol do not guarantee availability of liquidity required to take Bounty trading profits. In addition to this, the Service reserves the right to impose Bounty Money open interest limits (market limits) as well as Bounty Money profit limits on both a global level and User level.
The Service reserves the right to cancel or amend the Bounty Trading promotion at any time or for any reason. The Service may add or remove activities for earning Bounty Money to or from the promotion, and/or change the amount of the Bounty Money reward for each activity.
You agree that, without notice, the Service may terminate these Terms and Conditions, or suspend your access to the Service or the Content, with or without cause at any time and effective immediately. These Terms and Conditions will terminate immediately without notice from the Service if you, in the Service’s sole discretion, fail to comply with any provision of these Terms and Conditions. The Service shall not be liable to you or any third-party for the termination or suspension of the Service or the Content, or any claims related to such termination or suspension. The Service and/or the Third-Party Providers may discontinue or modify the Content, or any portion thereof, at any time. You release and agree to indemnify and hold harmless the Service for any loss or damages arising from or relating to such discontinuation or modification.
DXS may provide links to other websites or resources. The Service has no control over such sites and resources, you acknowledge and agree that the Service is not responsible for the availability of such external sites or resources. The Service does not endorse and is not liable for any content, advertising, products, or other materials on or available through such sites or resources. You further acknowledge and agree that the Service shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such site or resource.
You will indemnify and hold harmless the Service and the Protocol, and the officers, directors, agents, partners, employees, licensors, distributors, and representatives, from and against any and all claims, demands, actions, causes of action, suits, proceedings, losses, damages, costs, and expenses, including reasonable attorneys' fees, arising from or relating to your access and/or use of, or interaction with the Content, or any act, error, or omission of your use of your account or any user of your account, in connection therewith, including, but not limited to, matters relating to incorrect, incomplete, or misleading information; libel; invasion of privacy; infringement of a copyright, trade name, trademark, service mark, or other intellectual property; any defective product or any injury or damage to person or property caused by any products sold or otherwise distributed through or in connection with the Service; or violation of any applicable law.
DXS may at any time revise these Terms and Conditions by updating this document. You agree to be bound by subsequent revisions and agree to review these Terms and Conditions periodically for changes.
You agree that these Terms and Conditions shall be governed by and interpreted in accordance with the laws of Saint Vincent and the Grenadines, without giving effect to principles of conflicts of law. Any legal action or proceeding arising under these Terms and Conditions will be brought exclusively in courts located in Saint Vincent and the Grenadines, and you hereby irrevocably consent to the personal jurisdiction and venue therein. If any provision of these Terms and Conditions is deemed unlawful, void or for any reason unenforceable, then that provision will be deemed severable from these Terms and Conditions and will not affect the validity and enforceability of the remaining provisions.