The following Terms of Service outline the legal agreement between you and the OKX entities providing services to Australian users. By accessing or using the OKX platform—via okx.com, mobile applications, or API—you agree to be bound by these terms. These provisions apply exclusively to users located in Australia.
About These Terms and Our Services
The OKX information technology platform (the OKX Platform) enables access to a range of digital asset services facilitated by designated service providers. These services include cryptocurrency exchange, derivatives trading, and on-chain earning opportunities, each governed by specific sections below.
Where a service on okx.com is not covered in this document, it is provided under either:
- Aux Cayes FinTech Co. Ltd., in accordance with the global Terms of Service; or
- OKX Technology Services Pte. Ltd., under the OKX Web3 Ecosystem Terms of Service.
In the event of any conflict, the terms outlined here take precedence for Australian users.
| Part | Services | Service Provider |
|---|---|---|
| Part A | General Terms | All Services |
| Part B | Digital Currency Exchange (Crypto/Fiat, Fiat/Crypto, Crypto/Crypto) | OKX Australia Pty Ltd |
| Part C | Derivatives Trading (Futures, Options, Margin) | OKX Australia Financial Pty Ltd |
| Part D | On-Chain Earn Services | OKX Australia Pty Ltd |
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Key Regulatory Notes
- Part B and Part D Services: Not regulated under the Australian financial services licensing regime and not supervised by ASIC.
- Part C Services: Regulated and available only to wholesale clients as defined under the Corporations Act. These are the only OKX services subject to ASIC oversight.
Contractual Agreement Between You and Us
These terms constitute a binding legal agreement between you and the relevant OKX entity. By accessing or using the Services, you confirm your acceptance of these terms. Continued use after any updates implies acceptance of those changes. We recommend reviewing these terms periodically.
If you do not agree with any revisions, discontinue use immediately and consider closing your account.
Changes to These Terms
We reserve the right to modify these terms at any time. When changes occur, we will notify you via email or platform alerts. However:
- If an order is placed before a change but executed afterward, the original terms apply.
- If you disagree with updated terms (including fee changes), cease using the platform and close your account if necessary.
How to Interpret These Terms
Certain capitalized terms have defined meanings in the Glossary, included at the end of this document. References to “OKX,” “we,” “us,” or “our” refer to either OKX Australia Pty Ltd or OKX Australia Financial Pty Ltd, depending on the service in question.
Inconsistency of Terms
In case of conflict between Part A (General Terms) and any other section, Part A prevails unless explicitly overridden by another part.
Questions or Support?
For assistance navigating the OKX Platform, visit our help center or contact customer support directly through your account dashboard.
Other Services and Availability
Other products offered by the OKX group may not be available to Australian users. These are not regulated under Australian financial services laws and are not subject to ASIC supervision.
For full details on Web3 and global services, refer to the applicable terms on our website.
Privacy and Marketing Preferences
Your personal information is handled in accordance with our Privacy Policy. You may opt out of marketing communications at any time using the unsubscribe link in emails or by contacting customer service.
Part A: General Terms
This section applies to all services provided under these Terms.
1. Eligibility
To use the OKX Platform, you must create an account and meet eligibility criteria communicated by us from time to time.
2. Your Account
Registration
- You must register for an OKX Profile to access services.
- Only one profile per individual is allowed unless acting in different legal capacities (e.g., personal vs. trustee).
- Provide accurate, current, and complete information during registration and update it as needed.
- Upon registration, you receive login credentials.
Protecting Your Account
- Safeguard all passwords, API keys, and access credentials.
- Do not reuse passwords across login types.
- Immediately report unauthorized access or security breaches.
- We are not liable for losses due to compromised credentials unless caused by gross negligence or fraud.
- Authorizing third parties to use your credentials exposes your account to risk—you remain fully responsible for their actions.
Password Recovery
- Lost passwords can be reset through the platform’s recovery process.
Closing Your Account
- You may request closure at any time.
- We may delay closure if required by law or regulatory authorities.
Before closure:
- Cancel all open orders.
Assets will be returned:
- Fiat to linked bank accounts.
- Digital assets to specified wallet addresses.
- You bear associated fees (e.g., transfer costs). If fees exceed your balance, you must reimburse the difference.
3. Your Assets
- Assets are held as deemed appropriate by OKX.
- No deposit protection or insurance applies.
- In case of insolvency or shortfall, you may not recover all assets.
You represent that:
- You are the legal and beneficial owner of deposited assets.
- You do not act as nominee or trustee.
- You do not pledge or encumber assets held in your account.
- We never request private keys or initiate unsolicited asset transfers.
- We may delist digital assets without notice.
- Once credited, you are solely responsible for managing digital assets.
- Wrong transfers to internal accounts may be reversed, less applicable fees.
Withdrawing Assets
- We may convert digital assets to fiat to meet bank recalls.
Withdrawal requests may be withheld if:
- You owe fees or have unresolved liabilities.
- A dispute exists between you and OKX.
4. Your Obligations
You must:
- Provide accurate information upon request.
- Avoid damaging or impairing platform accessibility.
- Not use the platform for unauthorized commercial activity.
- Comply with all applicable laws, including tax regulations in your jurisdiction.
- Seek independent legal or tax advice—we do not provide such guidance.
5. Trading on the OKX Platform
- Orders are valid until filled, canceled, or expired.
- You are responsible for order accuracy; we do not verify reasonableness.
- Derivative trades are executed with OKX Australia Financial as counterparty—no matching service applies.
- Matching services apply only to spot trades; price is set by market interaction—we are not liable for trade outcomes.
- Orders require sufficient funds for settlement and fees.
- Placing orders via bots constitutes a future service contract.
- Partially filled orders remain on hold until completion or cancellation.
- Orders can be canceled before execution confirmation—but trades are irreversible once confirmed.
- Trade confirmations are sent via email or viewable in your account history.
We may:
- Limit order volumes.
Cancel, correct, or reverse transactions in cases of:
- System errors or market disruptions.
- Suspicious activity or regulatory requirements.
- Potential fraud or violation of laws.
We are not liable for actions taken under these circumstances unless due to gross negligence or misconduct.
6. Who You Trade With
- In spot trading, you trade against matched users or OKX itself (Matching Service).
- Related parties of OKX may trade on the platform as principals—orders are not distinguished from others.
- You acknowledge that related parties may act as counterparties and have no duty to act in your interest.
- No objection may be raised against transactions involving OKX or its affiliates.
- Derivative trades are conducted directly with OKX Australia Financial as principal.
7. Prohibited Activities
The following activities are strictly prohibited:
- Unlicensed money services
- Shell banking
- Adult content or pornography
- Illegal weapons sales
- Gambling platforms
- Ponzi schemes
- Market manipulation (wash trading, front-running)
- Darknet marketplace transactions
- Transactions involving protected species
- Sanctioned entities or jurisdictions
If we detect or suspect involvement in prohibited activities:
- Your account may be suspended or terminated.
- Assets may be frozen or converted to fiat and returned to originators or authorities.
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8. Acknowledgements, Representations, and Warranties
You confirm that:
- If an individual: you are at least 18 years old.
You accept full responsibility for:
- Input errors (“fat finger” trades).
- Misplaced passwords or device compromise.
- Wrong transfers or third-party access.
- Network or system issues affecting trades.
If acting for a legal entity:
- The entity is validly formed and authorized.
- You have authority to bind it.
- The entity agrees to be liable if you breach these terms.
You further represent that:
- You are not a proscribed person (sanctioned individual/entity).
- Your funds originate from lawful sources.
Written certification of compliance may be requested at any time.
9. Service Restrictions and Suspensions
We may restrict, suspend, or terminate services if we reasonably believe:
- Information provided is false or incomplete.
- You engaged in prohibited activities.
- There’s a breach of these terms or applicable laws.
- Security risks exist (e.g., unauthorized access).
- Regulatory compliance requires action.
- API misuse occurs (e.g., spamming orders).
We act fairly and reasonably when enforcing these measures.
If suspended:
- Your assets remain held unless restricted by law.
10. Risk Statement
Trading digital assets involves significant risk. Losses can exceed deposits. Consider your financial situation before trading.
Key risks include:
Market Volatility
Prices fluctuate rapidly—assets can lose value quickly.
No Government Backing
Digital assets are not guaranteed by governments or backed by physical assets.
Liquidity Risk
Illiquid markets may prevent timely entry/exit at desired prices.
Technology Risk
Hacks, bugs, forks, or system failures can lead to loss.
Irreversible Transactions
Once sent, digital assets cannot be recovered if sent incorrectly.
Regulatory Uncertainty
Changes in laws may affect availability or legality of services.
Tax Implications
Tax treatment varies—seek professional advice.
Operational Risk
System outages or cyberattacks may disrupt access.
For full details on forward-looking statements and disclaimers, refer to Section 10.20.
11. Fees
Fees apply for using services and vary based on transaction type. Details are available upon login.
We may update fees with reasonable notice unless required by law. Fees may be automatically deducted from your account balance.
12. Event of Default
Upon default:
- All obligations become immediately due.
- We may close positions, liquidate assets, or transfer funds to comply with legal requirements.
13. Unclaimed Property
After 12 months of inactivity:
- We will attempt to contact you.
- If unsuccessful, your account may be closed and assets returned per Clause 2.13.
14. License Grant
We grant you a limited, non-exclusive license to use the OKX Platform for permitted purposes only.
You must not:
- Copy, modify, reverse engineer, or distribute any part of the platform.
- Create derivative works or exploit intellectual property without permission.
All rights remain with OKX.
15. Limitation of Liability and Disclaimers
Exclusion of Liability
We are not liable for losses arising from:
- Disputes with other users.
- Your breach of terms.
- Violation of laws.
- Acts of third parties using your account (unless due to our fault).
Limitation of Liability
To the extent permitted by law:
- No liability for indirect, consequential, or special damages (e.g., lost profits).
- No guarantee of system performance or error-free operation.
- Not liable for events beyond our control (e.g., natural disasters, cyberattacks).
Indemnity
You agree to indemnify OKX and related parties against claims arising from:
- Fraudulent activity.
- False information.
- Breach of obligations.
- Violation of laws or third-party rights.
We may control defense and settlement decisions in related legal actions.
Disclaimer of Warranties
Services are provided “as is” and “as available.” We do not warrant:
- Accuracy or completeness of data.
- Execution of orders.
- Freedom from viruses or security flaws.
We take reasonable steps to secure data but cannot guarantee absolute confidentiality over electronic transmission.
User-generated content (e.g., comments) does not reflect our views—we assume no responsibility for it.
We do not control blockchain protocols—no guarantees about their functionality or security.
Outdated app versions may lack new features—it is your responsibility to update regularly.
Consumer Rights (Australian Consumer Law)
Under Australian Consumer Law:
- You have rights regarding acceptable quality and proper performance of services.
These cannot be excluded but our liability is limited to re-performance or cost reimbursement.
Part B: Digital Currency Exchange
Applies to crypto/fiat conversions via Convert or Spot services—provided by OKX Australia Pty Ltd.
18. Fiat Deposits and Withdrawals
Fiat is handled through third-party providers (e.g., Bano Pty Ltd). You agree to their terms. No interest is paid on fiat balances. Withdrawals go via selected providers—fees may apply externally. We are not liable for third-party errors.
19. Conversions
Convert Service
Over-the-counter conversions with fixed rates—no slippage. No fee charged; spread built into rate.
Spot Service
Order-book based matching. Subject to slippage depending on liquidity. Fees apply per standard schedule.
Part C: Derivatives
Regulated service offered only to wholesale clients by OKX Australia Financial Pty Ltd.
Includes:
- Futures
- Options
- Perpetual Swaps
- Margin Trading
Precedence: Part C > Part A > Trading Rules > Other Policies
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Frequently Asked Questions (FAQ)
Q: Are my funds protected under Australian law?
A: No—digital assets and fiat balances are not covered by deposit insurance schemes like APRA protections. You assume custody risk when using our platform.
Q: Can retail investors use derivatives?
A: No—derivatives services are available exclusively to wholesale clients as defined under the Corporations Act. Retail users cannot access futures, options, or leveraged margin trading.
Q: What happens if I lose my password?
A: You can reset it via the platform’s recovery process. However, if you lose private keys for external wallets, recovery is generally impossible due to blockchain immutability.
Q: How does OKX handle market manipulation?
A: We actively monitor for suspicious behavior such as wash trading or spoofing. Violators face suspension, asset freezing, and potential reporting to authorities.
Q: Can I use automated trading bots?
A: Yes—bots are available but operate on an execution-only basis. You are fully responsible for configuration, monitoring, and associated risks including slippage and fees.
Q: Is tax reporting handled by OKX?
A: No—we do not provide tax advice nor report transactions to tax authorities. It is your responsibility to track gains/losses and comply with local tax laws.