These Terms of Service (“Terms”) govern your access to and use of the Market X platform, website, mobile applications, APIs, and related services (collectively, the “Services”) provided by Market X LTD, a company duly incorporated under the laws of the Federal Republic of Nigeria (“Market X,” “we,” “us,” or “our”).

By accessing or using the Services, you acknowledge that you have read, understood, and agree to be legally bound by these Terms. If you do not agree, you must not access or use the Services.

1. ELIGIBILITY & ACCEPTANCE

1.1 You must:

• Have the legal capacity to enter into a binding contract
• Not be prohibited from using the Services under applicable law

1.2 You represent and warrant that:

• You are acting on your own behalf or with proper authority
• Your use of the Services complies with all applicable laws and regulations
• You are not subject to sanctions or located in a jurisdiction restricted by Market X

Market X may refuse, suspend, or terminate access at its sole discretion.

2. ACCOUNT REGISTRATION & KYC

2.1 Account Creation

You must create an account and successfully complete identity verification before accessing trading or custodial services.

2.2 KYC / AML Compliance

You authorize Market X to:

• Collect, verify, process, and retain personal and transactional data
• Conduct KYC, AML, counter-terrorist financing, sanctions, and fraud checks
• Perform ongoing monitoring and request updated information at any time
• Share information with regulators, law enforcement, or counterparties where legally required

2.3 Failure to Comply

Failure to provide or maintain accurate information may result in account suspension, restrictions, or termination, including freezing of assets.

3. CUSTODY OF USER FUNDS

3.1 Custodial Relationship

Market X acts as a custodian of digital assets and fiat funds deposited by users solely for the purpose of providing the Services.

3.2 Ownership of Assets

You retain beneficial ownership of assets credited to your account, subject to:

• This Terms
• Applicable law
• Market X’s security, compliance, and risk management controls

3.3 No Use of User Funds

Market X does not:

• Lend user assets
• Stake user assets
• Rehypothecate, pledge, or encumber user assets
• Use user assets for proprietary trading or operational purposes

User assets are held solely to facilitate trading and withdrawals.

3.4 Wallet Structure & Storage

Assets may be held in:

• Omnibus wallets
• Hot and cold storage
• Accounts with third-party infrastructure or technology providers

On-chain segregation and insurance coverage are not guaranteed.

4. DEPOSITS & WITHDRAWALS

4.1 Deposits

• Deposits are credited after required blockchain confirmations
• Transfers sent to incorrect addresses or unsupported networks may be permanently lost

4.2 Withdrawals

Market X may delay, limit, or block withdrawals due to:

• Security or fraud reviews
• Compliance or legal obligations
• System maintenance
• Risk management procedures

4.3 Account Freezes

Market X may freeze or restrict access to assets where required by law or reasonably necessary to prevent fraud, financial crime, or regulatory breaches.

5. TRADING SERVICES (SPOT & DERIVATIVES)

5.1 Available Products

Market X provides access to:

• Spot digital asset trading
• Derivatives trading, including perpetual contracts or futures, where permitted by law

Not all products may be available in all jurisdictions.

5.2 Third-Party Execution via Bybit

All order execution, liquidity provision, and matching are conducted exclusively through Bybit, acting as a third-party execution and infrastructure provider.

5.3 Execution Disclaimer

Market X does not control and shall not be responsible for:

• Matching engine logic
• Margin requirements or calculations
• Liquidation mechanisms
• Slippage, latency, or pricing discrepancies
• Downtime, outages, or failures of Bybit systems

5.4 Liquidations

Derivative positions may be liquidated automatically and without prior notice due to margin shortfalls, risk limits, or actions taken by Market X or Bybit.

6. FEES

6.1 You agree to pay all applicable:

• Trading fees
• Funding rates (for derivatives)
• Withdrawal, network, or blockchain fees

6.2 Fees may be updated at any time and become effective when published on the Platform.

7. RISK DISCLOSURES

You acknowledge and accept that trading digital assets involves significant risk, including but not limited to:

• Extreme price volatility
• Total or partial loss of funds
• Derivatives amplifying losses beyond initial margin
• Blockchain forks, re-organizations, or protocol failures
• Smart contract vulnerabilities
• Cybersecurity incidents
• Failure or disruption of third-party providers (including Bybit)
• Changes in law, regulation, or regulatory enforcement

Digital assets are speculative and are not legal tender or government-backed.

8. PROHIBITED ACTIVITIES

You may not:

• Violate any applicable law or regulation
• Engage in fraud, manipulation, spoofing, or wash trading
• Evade KYC, AML, or sanctions controls
• Use unauthorized bots or automation
• Interfere with platform security or integrity
• Use the Services for unlawful or abusive purposes

Market X may take immediate enforcement action.

9. SUSPENSION & TERMINATION

Market X may, at its sole discretion and where permitted by law:

• Suspend or terminate accounts
• Restrict or freeze assets
• Cancel, reverse, or close positions

Such actions may occur without prior notice.

10. INTELLECTUAL PROPERTY

All intellectual property related to the Services is owned by or licensed to Market X. No rights are granted except as expressly stated.

11. DISCLAIMER OF WARRANTIES

The Services are provided “AS IS” and “AS AVAILABLE.” Market X disclaims all warranties, express or implied, including uninterrupted or error-free operation.

12. LIMITATION OF LIABILITY

To the maximum extent permitted by law:

• Market X shall not be liable for indirect, incidental, special, or consequential damages
• Aggregate liability shall not exceed the total fees paid by you to Market X in the 12 months preceding the claim

13. INDEMNIFICATION

You agree to indemnify and hold harmless Market X from any claims, losses, or damages arising from:

• Your use of the Services
• Breach of these Terms
• Violation of applicable law or third-party rights

14. GOVERNING LAW & DISPUTE RESOLUTION

14.1 Governing Law

These Terms are governed by the laws of the Federal Republic of Nigeria, without regard to conflict-of-law principles.

14.2 Dispute Resolution

Any dispute shall be resolved by:

• Courts of competent jurisdiction in Nigeria, and/or
• Binding arbitration, at Market X’s election

Class or representative actions are waived to the extent permitted by law.

15. AMENDMENTS

Market X may amend these Terms at any time. Continued use of the Services constitutes acceptance of the revised Terms.

16. CONTACTING US

You may contact us via email at [email protected]