Welcome to the comprehensive guide outlining the Terms of Service for users accessing our services within the European Union (EU) and European Economic Area (EEA). This document details your rights, responsibilities, and the regulations governing your use of our platform and its associated services.
Service Provider Information
The services offered within the EU and EEA are provided by OKcoin Europe LTD, a limited liability company registered in Malta. This entity is licensed as a Crypto-Asset Service Provider by the Malta Financial Services Authority under the Markets in Crypto-Assets Act (Chapter 647, Laws of Malta). The licensed activities include, but are not limited to:
- Executing orders for crypto-assets on behalf of clients.
- Exchanging crypto-assets for funds and for other crypto-assets.
- Providing custody, administration, and transfer services for crypto-assets.
- Operating a trading platform for crypto-assets.
- Offering portfolio management, crypto-asset placement, and the reception/transmission of orders.
Acceptance of Terms
By accessing our website or mobile application (collectively, the "Site"), you acknowledge that you have read, understood, and agree to be bound by these Terms of Service, our Privacy Policy, and any other referenced policies. These terms apply to any account you open or are an authorized signatory for.
If you do not agree with any part of these terms, you must discontinue your use of the Site and services immediately.
We reserve the right to modify these Terms at our sole discretion. Updated Terms become effective upon posting on the Site, indicated by a revised "Last updated" date. Your continued use of the services after such changes constitutes your acceptance of the new Terms.
Scope of Services Offered
Our platform provides a suite of services related to crypto-assets, which are digital representations of value or rights that can be transferred and stored electronically using distributed ledger technology.
Exchange Services
We operate an online platform for spot trading of crypto-assets. It is important to understand that when you trade on our exchange, you are typically trading with other users; we act as the facilitator matching buy and sell orders, not as the direct counterparty in every trade.
Off-Exchange Services (OTC Trading)
Users may engage in over-the-counter trading, either directly with us as principal or with other third-party counterparties, subject to specific additional terms.
Portfolio Management
For eligible clients, we offer discretionary portfolio management services. This involves us managing your crypto-assets based on your defined knowledge, experience, financial situation, and investment objectives.
Custody and Transfer Services
We provide secure custody for your crypto-assets, holding them separately from our own assets. Our transfer services facilitate the movement of crypto-assets between blockchain addresses on your behalf.
Other Services
Additional services include the placement of new crypto-assets and the reception and transmission of orders to third parties for execution.
User Eligibility and Account Registration
Eligibility Requirements
To use our services, you must be at least 18 years old. If registering on behalf of a legal entity, you warrant that you have the authority to bind that entity to these Terms.
You must not be on any trade or economic sanctions lists (e.g., OFAC SDN lists), a resident of a sanctioned region, or reside in a jurisdiction where the use of our services is prohibited.
Account Registration and Security
You agree to provide accurate, current, and complete information during registration and to promptly update it as necessary. You are solely responsible for safeguarding your account credentials and for all activities that occur under your account. We will never ask you for your password or to send assets to an unverified address.
👉 Explore secure account management strategies
Risk Disclosure
Trading and holding crypto-assets carry significant risk. Prices are highly volatile, and you could lose your entire investment. Crypto-assets are not legal tender, are not backed by any government, and are not covered by investor compensation or deposit guarantee schemes like those in the EU.
Key risks include:
- Market Risk: The value of crypto-assets can fluctuate dramatically.
- Liquidity Risk: You may be unable to sell or convert assets immediately or without loss.
- Operational Risk: Losses from input errors, forgotten passwords, network issues, or transferring to wrong addresses are your responsibility.
- Third-Party Risk: We are not liable for losses incurred from interactions with fraudulent third parties outside our platform.
You should carefully consider your financial situation and risk tolerance before engaging in crypto-asset activities.
Prohibited Activities
Your use of our services must not be connected to any illegal or prohibited businesses. Prohibited activities include, but are not limited to:
- Unlicensed money services, fraudulent schemes, or money laundering.
- Terrorist financing or any other financial crimes.
- Illegal adult content or services.
- Unlicensed sales of weapons, tobacco, or pharmaceuticals.
- Gambling activities or related enterprises.
- Infringement of intellectual property rights.
- Transactions involving stolen goods or counterfeit items.
- Market manipulation tactics like wash trading or insider trading.
We may suspend or terminate accounts suspected of involvement in prohibited activities and report such activity to the relevant authorities.
Fees, Taxes, and Liabilities
You agree to pay all applicable fees for the services you use, as detailed in our fee schedule available on the Site. You are solely responsible for determining and paying any taxes that apply to your transactions.
Our liability is limited to the maximum extent permitted by law. We provide services on an "as is" and "as available" basis without warranties of any kind, except as expressly stated in these Terms.
Frequently Asked Questions
What laws govern these Terms of Service?
These Terms are governed by and construed in accordance with the laws of Malta. Any disputes arising from these Terms will be settled by arbitration in Malta under the UNCITRAL Rules.
How can I close my account?
You may close your account at any time by contacting customer support. You must cancel any open orders and may need to provide transfer instructions for remaining assets. Note that closing your account does not necessarily result in the deletion of your personal data, which we may retain to comply with legal obligations.
What happens if I send crypto to the wrong address?
Transactions on blockchain networks are typically irreversible. If you send crypto-assets to an incorrect address, those assets may be permanently lost. If the address is controlled by us, we may, at our sole discretion, attempt to recover them, less any applicable fees, but are under no obligation to do so.
Are my fiat deposits insured?
Fiat currency deposits are held in segregated custodial accounts with licensed third-party banking institutions for the benefit of users. However, these deposits are not covered by the EU’s deposit guarantee schemes (DGS) as they are held for the purpose of trading crypto-assets, not as traditional bank deposits.
How does the platform ensure the security of my crypto assets?
We employ a robust custody policy designed to protect client assets. This includes holding client crypto-assets separately from our own operational assets, utilizing secure cold storage solutions, and implementing industry-standard security protocols to minimize risks like theft, fraud, and cyber threats.
What should I do if I suspect unauthorized activity on my account?
If you suspect any unauthorized access or activity, you must contact our customer support team immediately at [email protected]. We recommend enabling all available security features, such as two-factor authentication (2FA), to protect your account.