AUS Terms of Service Update for 23 Jan 2025

Veröffentlicht am 16. Jan. 2025

The AUS Terms of Service will be amended on 23 Jan 2025 to include the content shown below:

20. Trading Bots

General terms for Bots

20.1 This clause 20 applies if we make available to you the Spot Grid Bot and/or Spot DCA Martingale Bot (collectively referred to as the Bots) as Services on the OKX Platform and governs the use of the Bots.

Spot Grid Bot

20.2 (Purpose and Functionality)

(a) The Spot Grid Bot is an automated trading tool that facilitates the execution of buy and sell orders at predefined intervals within a user-specified range (Trading Range).

(b) The core strategy of the Spot Grid Bot is to capitalise on price fluctuations within the Trading Range by systematically buying at lower prices and selling at higher prices.

20.3 (Risk Acknowledgement)

(a) You acknowledge that the Spot Grid Bot does not guarantee profits and may incur losses, including in scenarios of significant market downturns, low liquidity, or sudden price movements.

(b) You should not interpret Bot tools or documentation as tailored financial advice, and acknowledge that our Bots only service you on an execution-only basis. Consultation with a licensed financial advisor is recommended to determine the suitability of automated trading strategies.

(i) technical failures beyond our reasonable control, including delays in execution or system outages;

(ii) misconfiguration of bot parameters leading to suboptimal performance or unintended losses;

(iii) high market volatility causing buy or sell orders to remain unexecuted or executed at unfavourable prices;

(iv) incremental trading fees due to frequent transactions in volatile markets;

(v) limitations in our ability to fill certain orders, depending on the available liquidity and pricing; and

(vi) any API or third party assistance you employ in conjunction with the bot.

(d) You further acknowledge that:

(i) the Spot Grid Bot relies on market conditions to execute predefined trades. A lack of sufficient liquidity in the selected trading pair may cause delays or failures in completing orders;

(ii) during periods of rapid price movement, trades executed under take-profit (TP) or stop-loss (SL) settings, which use market orders, may result in in diminished profitability or unintended losses due to slippage or unfavourable execution prices;

(iii) fees associated with executing frequent orders within a grid can accumulate significantly, potentially reducing overall returns. You are responsible for reviewing the fee structure prior to enabling the bot; and

(iv) external disruptions, such as exchange downtimes or market suspensions, may render the bot inoperable without prior notice.

20.4 (Operational Conditions)

(a) The Spot Grid Bot will cease operations under the following conditions:

(i) the market price moves outside the specified Trading Range;

(ii) your configured stop-loss (SL) or take-profit (TP) levels are triggered;

(iii) you manually stop the Bot;

(iv) your order, placed through the Bot, does not meet our minimum order amount, as updated from time to time;

(v) fail-state conditions, such as low liquidity preventing order execution or the underlying cryptocurrency being delisted or suspended from trading, which are updated by us from time to time; and

(vi) for Wholesale Clients using our Derivatives Services under Part C of these terms and operating in cross margin mode, if a forced liquidation event occurs that results in the depletion of required available Assets in your Account.

(b) For Wholesale Customers using our Derivatives Services under Part C of these terms, Assets allocated to the Spot Grid Bot are segregated from your other trading accounts, which may reduce available margin and impact your ability to maintain other open positions. This could result in forced liquidation of your open position if there’s insufficient margin. It is your responsibility to closely monitor the risk levels of your other open positions, as this could affect your ability to maintain them.

Spot DCA Martingale Bot (DCA Bot)

20.5 (Purpose and Functionality)

(a) The DCA Bot is designed to facilitate the periodic purchase of digital assets at predefined intervals and amounts, aiming to achieve an average price over time.

(b) The DCA Bot includes features such as incremental buying during price downturns and selling at user-defined profit thresholds.

20.6 (Risk Acknowledgement)

(a) You acknowledge that the DCA Bot can be a risky strategy and does not guarantee profits. Losses may occur, especially in declining markets or if stop-loss levels are triggered.

(b) You should not interpret Bot tools or documentation as tailored financial advice, and acknowledge that our Bots are available to you on an execution-only basis. Consultation with a licensed financial advisor is recommended to determine the suitability of automated trading strategies.

(i) market volatility causing unexecuted or unfavourable orders;

(ii) increased exposure due to incremental buying during downturns;

(iii) technical issues beyond our reasonable control, including delays or failures in bot execution; and

(iv) higher transaction fees resulting from frequent safety orders or profit taking trades.

(d) You further acknowledge that:

(i) the periodic purchase approach used by the DCA Bot may amplify exposure to declining markets, especially if the asset price continues to drop after successive buys;

(ii) automated sell triggers (e.g., take-profit settings) may fail to execute as expected during illiquid or volatile market conditions, potentially leaving users exposed to greater risk;

(iii) the effectiveness of the DCA strategy depends on careful planning of buy intervals, price thresholds, and budget allocation. Inaccurate parameter settings may result in suboptimal trading performance; and

(iv) you have the option to forgo reserving the necessary funds for the DCA Bot’s strategy during setup. However, this may increase the risk of insufficient funds being available for purchases, potentially disrupting the bot’s strategy and resulting in suboptimal trading performance;

20.7 (Operational Conditions)

(a) The DCA Bot will cease operations under the following conditions:

(i) your defined Stop-Loss (SL) level is reached;

(ii) you manually stop the DCA Bot;

(iii) failures due to insufficient funds or low market liquidity;

(iv) your order, placed through the DCA Bot, does not meet our minimum order amount, as updated from time to time;

(v) fail-state conditions, such as the underlying cryptocurrency being delisted or suspended from trading, which are updated by us from time to time; and

(b) For Wholesale Customers using our Derivatives Services under Part C of these terms, Assets allocated to the DCA Bot are segregated from your other trading accounts, which may reduce available margin and impact your ability to maintain other open positions. This could result in forced liquidation of your open position if there’s insufficient margin. It is your responsibility to closely monitor the risk levels of your other open positions, as this could affect your ability to maintain them.

General Provisions applicable to Bots

20.8 We reserve the right to suspend or terminate the DCA Bot and/or Spot Grid Bot in accordance with clause 9 of these terms.

20.9 You agree to the following responsibilities when using the Bots:

(a) you must personally carefully review and configure the operational parameters of the Bot, including but not limited to initial order amount, safety order amount, price steps, and maximum safety orders, in the case of the DCA Bot, and the Trading Range, grid quantity, and investment amount, in the case of the Spot Grid Bot;

(b) you are responsible for monitoring the performance of the Bot, and reviewing and updating the Bot’s parameters to align you’re your financial goals and risk tolerance; and

(c) you should actively monitor the Bot's activity to ensure alignment with personal investment goals and market conditions.

20.10 We take no responsibility for the parameters input by users (or make any suggestion as to appropriateness of the parameters) or monitoring of the Bot trading performance.

20.11 You acknowledge that:

(a) the Bots do not facilitate the transfer, remittance, or settlement of funds or digital assets between users or third parties. The Bots do not give you additional functionality to enable, manage, or control the movement of fiat currency or stablecoins (including USDT and USDC), nor do they create or maintain a right for you to receive or redeem such instruments;

(b) the Bots operate solely on an execution-only basis, interacting with order books within the OKX Platform to execute market trades as specified by you alone. All functionalities provided by the Bots are limited to facilitating algorithmic trading based on your parameters; they do not include or involve:

(i) the provision or operation of a payment system, including clearing, settling, or authorising payment transactions involving fiat currency or stablecoins;

(ii) the establishment of a non-cash payment facility, as defined under section 763D of the Corporations Act, since the Bots do not facilitate the payment or receipt of money or any other value between parties; or

(iii) custodial or depository functions, as the Bots do not hold, control, or transfer user funds or digital assets in any capacity outside the trading functions provided on the OKX platform;

(c) the potential integration of stablecoins in your trading strategies through the Bots does not alter this characterisation. Any use of such stablecoins is incidental to executing spot digital asset trades and remains subject to your direct control and authorisation through the OKX Platform’s trading account infrastructure;

(d) while the Bots are free to create and use, trading fees apply to each transaction executed by the Bots. These fees will be automatically deducted from your account balance and may cumulatively impact returns, especially in high-frequency trading scenarios; and

(e) you acknowledge that orders placed via the Bots may not execute at the intended price due to slippage, fee deductions or rapid market fluctuations. This includes scenarios where partially filled orders are completed at varying price points, potentially increasing costs or reducing returns;

(f) you have read and understood the FAQs pertaining to the Bots and this clause 20;

(g) you accept the risks associated with automated trading, and it is your responsibility to assess whether automated trading aligns with your financial objectives and risk tolerance, and continue to do so throughout the Bots lifecycle;

(h) you are solely responsible for configuring and monitoring the Bots, and ensuring its parameters remain appropriate as market conditions evolve;

(i) the Bots operate based on algorithmic trading, which may encounter unforeseen anomalies or errors. It is your responsibility to implement appropriate risk management controls, such as setting stop-loss orders and regularly reviewing Bot performance, to mitigate potential adverse outcomes; and

(j) for Wholesale Customers using our Derivatives Services under Part C of these terms, Assets allocated to the Bots will be segregated from your trading account and reduce your available margin. As such:

(i) you are responsible for monitoring the relevant thresholds (such as margin calls and liquidation thresholds); and

(ii) margin and derivatives trading is subject to high market risk, and you should be capable of accepting a full loss of the amounts traded as a result of or in connection with any order and any additional loss over and above the initial amounts traded that may become payable.

20.12 Without limiting clause 15, we make no representations or warranties regarding the performance of the Bots and disclaim all liability for any losses incurred through their use.

20.13 You agree to hold us harmless for losses arising from:

(a) user misconfiguration;

(b) technical failures or outages beyond OKX’s reasonable control;

(d) market conditions, including volatility or illiquidity.

20.14 Without limiting clause 9, we reserve the right to:

(a) suspend Bot operations or cancel outstanding orders during periods of high market stress, or if another material risk is identified to protect the overall platform stability and users; and

(b) to update Bot-related features to comply with regulatory or reasonable commercial requirements without prior user notice, where reasonably necessary.

20.15 We endeavour to execute instructions in connection with the Bots, but do not guarantee that the instructions will be wholly or partially executed or will be executed by a certain time or at a certain price. Without limiting clause 15, we shall not be liable for any loss which may arise due to unfulfilled Bot orders or instructions due to technical issues, faults or other errors.

20.16 Bots are subject to technical constraints, including but not limited to:

(a) delays caused by network congestion or exchange server interruptions;

(b) unintended behaviour arising from software updates or third-party API malfunctions;

(d) loss of data or transaction records due to unforeseen technical failures.

We will take reasonable steps to mitigate such issues but disclaim liability for losses stemming from technical limitations beyond our reasonable control, without limiting the provisions set out in clause 15.

20.17 Without limiting your obligations under clause 15, you agree to indemnify and hold harmless OKX (and each of our officers, directors, members, employees, agents and affiliates) from any claim, demand, action, damage, loss, cost or expense, including without limitation reasonable legal fees, arising out or relating to your use of, or conduct in connection with, the Bots and/or your violation of any rights of any other person or entity or of any laws and regulations including but not limited to anti-money laundering and countering the financing of terrorism laws and regulations.

20.18 Without limiting your obligations under clause 4.5, you are solely responsible for ensuring compliance with all applicable tax, legal, and regulatory requirements arising from their use of Bots, including reporting gains or losses under local tax laws.

20.19 Any tutorial, FAQs, videos, guidelines or templates made available on our platform is for illustration purposes only and should not be treated as personal and/or financial advice.

20.20 Examples or past performance of any trading strategies deployed by the Bots are not indicative of future Bot performance and results. We do not represent that the use of a Bot will be profitable.