Terms and Conditions for Pre-Market Trading Service

These Terms and Conditions for Pre-Market Trading Service (the “Terms”) govern your use of the PMT Service (as defined below) and related services provided by BingX or its affiliates on this website, which constitute a binding agreement between you (the “user” or “you”, or “your”) and BingX (the “platform”, “we”, “us” or “our”).

These Terms serve to supplement the Customer Agreement as published and may be updated from time to time at the Customer Agreement. In case of any conflict or inconsistency between these Terms and the Customer Agreement, these Terms shall prevail. All other provisions of our Customer Agreement not modified by these Terms shall remain in full force and effect.

BY ACCESSING, USING OR ATTEMPTING TO USE THE PMT SERVICES IN ANY CAPACITY, YOU ACKNOWLEDGE THAT YOU ACCEPT AND AGREE TO BE BOUND BY BOTH THE CUSTOMER AGREEMENT AND THESE TERMS AND ALL OTHER TERMS AND CONDITIONS AND OPERATIONAL RULES RELATING TO THE PMT SERVICE THAT WE MAY PUBLISH FROM TIME TO TIME. IF YOU DO NOT AGREE, DO NOT ACCESS OR USE THE PMT SERVICES.

Ⅰ. DEFINITIONS

Unless otherwise defined below, all terms and references used in the Terms shall have the same meaning as given in the Customer Agreement.

Buyer means a user who makes or takes an Order to buy PMT Assets with Designated Assets.

Collateral means a pre-determined sum of Designated Assets provided by you as a Seller at the time of placing or taking an Order as security for the Settlement of a Concluded Order.

Collateral Penalty means a penalty (nett of Fees) deducted from your Collateral for payment to the Buyer in the event that there is a Default on your side as a Seller.

Concluded Order means an Order that has been taken.

Default means a failure to perform the obligations of a Concluded Order.

Designated Asset means USDT or such other assets as determined by the platform.

Fees means the applicable fees at the prevailing rate stipulated by us through the Platform as amended from time to time for the provision of the PMT Services.

Maker means a user who places or makes an Order.

Operational Rules mean all relevant rules as determined by BingX and as may be amended from time to time at our sole discretion in relation to Pre-Market Trading and the placing, taking, conclusion, and settlement of an Order.

Order(s) means an offer given by a user to buy or sell a certain amount of PMT Assets at a certain unit price, where the amount and unit price of the relevant PMT Assets shall be specified by the user who places the order.

Order Value means the total value of PMT Assets to buy or sell in an Order as denominated in Designated Asset, which equals to the quantity of PMT Assets multiplying the unit price as specified in an Order.

Pre-Market Trading or PMT means the over-the-counter manual trading of a PMT Asset with Designated Asset before such PMT Asset is listed for automated orderbook trading on the platform.

PMT Asset(s) means the selected digital asset that is available for Pre-Market Trading.

PMT Service means the services that enables you to place or take an Order and publish a placed Order on the platform so that other users can view and take your Order.

Seller means a user who makes or takes an Order to sell PMT Assets for Designated Assets.

Settlement means, with respect to a Concluded Order, the delivery of the sold PMT Assets to the Buyer and transferring the relevant Designated Asset to the Seller.

Settlement Date means the time and date of the Settlement of an Concluded Order.

Taker means a user who takes an Order.

Ⅱ. PMT SERVICES

PMT Services enable users to trade PMT Assets with other users on a over-the-counter basis before such PMT Assets get listed for automated orderbook trading on the platform. With respect to each PMT Asset, the PMT Services may be accessible at different time periods (“PMT Period”) that may vary from days to weeks. The start date and end date of a PMT Period will be determined by the platform based on the circumstances of each PMT Asset. During the PMT Period of a PMT Asset, you may make or take Orders to buy or sell such PMT Asset at the specified Order Price.
When you make an Order, you will be required to specify the quantity of PMT Assets you wish to buy or sell and the unit price that you wish to buy or sell PMT Assets. In case you make an Order to sell PMT Assets, you will be required to place Collateral as security for your obligations to deliver the PMT Assets upon Settlement. In case you make an Order to buy PMT Assets, you will be required to put up an amount of Designated Assets equal to the Order Value (“Pre-Payment”) at the time of placing such Order. Both Pre-Payment and Collateral will be subject to restriction from use or withdrawal until the Settlement is completed.
As a Maker, you may cancel an Order you placed without incurring any Fees or Collateral Penalty at any time before such Order is taken and once the Order is successfully canceled, you will receive a refund of the Pre-Payment or Collateral (as is applicable) you previously put up with the platform. When your Order is taken by another user, it becomes a Concluded Order and you will not be able to cancel your Order.
If you take an Order, the Order must be taken entirely and no partial fills of an Order is allowed. That means, if you are a Taker of an Order, you are deemed to have accepted the Order entirely.
With respect to certain PMT Assets that the total supply has not become public, Orders may be placed or taken based on a given estimated total supply (“Estimate Total Supply”) as preset by the platform before the PMT Period. All Orders that are placed or taken based on the Estimate Total Supply of a PMT Assets and their unit prices and amounts will be subject to adjustment at the time when the actual total supply of such PMT Asset has become public, according to the ratio of the Estimate Total Supply to the actual total supply, as if such Orders have been placed or taken on the basis of the actual total supply.
Concluded Orders will be settled on or before the Settlement Date. The Settlement Date for each PMT Asset will be determined by BingX based on the circumstances of such PMT Asset and will be published on the platform around the date when the PMT Period ends.
Once you have taken an Order or your Order has been taken, you are obligated to perform the Concluded Order before or on the Settlement Date. With respect to each Concluded Order,
- a) if you are a Seller, you are obligated to deliver the relevant PMT Assets to the Buyer on or before the Settlement Date; and in case of Default as a Seller, you will have to pay to the Buyer a Collateral Penalty comprised of the full amount of your Collateral on the Settlement Date and the relevant Fees will not be refunded.
- b) if you are a Buyer, you are obligated to transfer the relevant Designated Assets to the Seller upon Settlement, and the platform will have the Pre-Payment automatically transferred to the Seller upon Settlement.
You understand and accept that each Order may be subject to certain restrictions (“Order Restrictions”) in terms of Order Value and the number of Orders that you may place or take on the platform. You acknowledge and agree that if you place an Order in violation of the Order Restrictions, we reserve the sole discretion to reject the Order.
Prior to the Settlement of an Order, you will be notified of the following while requiring confirmation of:
- a) Collateral / Pre-Payment respectively.
- b) The quantity and unit price of PMT Assets, sold / bought respectively.
- c) Collateral Penalty (to be deducted from your Collateral and transferred to the Buyer), in the event of a Default.
- d) Settlement Date (if available).
By placing or taking an Order, you are deemed to have fully understood and have accepted all the terms of the Order without dispute unless the Order is revoked before it is Concluded. If you do not accept the terms of an Order, you should not place or take the Order.
You will be able to view your account history on the platform. You must review your account history carefully and notify us as soon as possible if you find any entries of transactions in your account history are inaccurate, in any case no later than 14 days after the date that your account history is made available to you.

Ⅲ. FEES

You acknowledge and agree that BingX may charge service fees for the PMT Services based on the fee rates as set forth at the “project detail” webpage of each PMT Asset, as may be updated from time to time at the sole discretion of BingX. Any such updated fees will apply prospectively to any Pre-Market Trading that takes place following the effective date of such updated fees.

Ⅳ. RIGHTS AND OBLIGATIONS

You shall comply with all applicable laws and regulations and make sure your use of the PMT Service is not in violation of any applicable laws. If you are prohibited from using the PMT Service under any applicable laws, you shall cease using the PMT Service.
You shall not directly or indirectly participate in the PMT Service with more than one account. If discovered, we reserve the right to terminate your access to the PMT Service and suspend access to your account.
In order to maintain the market integrity of the platform and protect the interests of our users and the platform, you agree that we reserve the right to revoke, reject or reverse any transaction under an Order and/or suspend or terminate the PMT Services at our sole discretion in any of the following circumstances:
- a) if facilitating or continuing a transaction under an Order is likely to adversely affect the market integrity and security of the platform;
- b) if facilitating or continuing a transaction under an Order contradicts or is likely to contradict our compliance obligations under applicable laws and regulations, including without limitation when you are from a Restricted Jurisdiction where we do not provide our services;
- c) if a user or any Order is found in violation of the Order Restrictions; or
- d) in other circumstances where we reasonably consider it is essential to do so.
We reserve the right to, without prior notice, (a) temporarily or permanently prohibit you from accessing or using the PMT Service; (b) impose limits on the use of the PMT Service; (c) suspend or terminate the PMT Service; and (d) delay certain transactions in the PMT Service. You understand and agree that to the largest extent permitted by applicable laws, we shall not be liable to you for any losses caused by such prohibition, suspension or termination.

Ⅴ. RISK DISCLOSURE

You acknowledge and agree that there are risks associated with trading of cryptocurrency including the Pre-Market Trading of the PMT Assets, including, without limitation, risks associated with the following facts:
- a) While the platform will determine the Settlement Date at the earliest possible as it could, Settlement Date may be uncertain at the time when you place or take an Order.
- b) The Pre-Payment and Collateral may be restricted from using and/or withdrawal for a time longer than you expect.
- c) There is possibility that PMT Assets may not be eventually delivered to the Buyer on the Settlement Date, and a Seller may not actually hold the PMT Assets at the time when the Seller places or takes an Order, or a Seller may commit a Default.
- d) The price of cryptocurrency, including the PMT Assets, the Designated Assets and the assets as Collateral, may be volatile and may vary across different markets.
- e) Technical anomalies may occur and may delay or prevent you from using the PMT Service or performing related transactions and result in losses of your digital assets.
- f) Market anomalies may occur and result in losses of your cryptocurrency.
- g) In order to maintain an orderly market, BingX may need to add, remove, or change the Operational Rules, any of these Terms or other relevant service agreements or terms from time to time without prior notice to you. Any changes may benefit or harm individual customers like yourself.
By using the PMT Service, you agree that (a) you have fully understood and have accepted all the terms, conditions, and Operational Rules in relation to Pre-Market Trading; (b) you have been fully aware of and have accepted all the risks and consequences of using the PMT Services and participating in Pre-Market Trading; and (c) you will be solely responsible for any losses that you may suffer as a result of such risks or from participating in Pre-Market Trading; and (d) in no case shall BingX be responsible for your losses in Pre-Market Trading.
You acknowledge and fully understand the risks involved in participating in PMT Services and unconditionally accept the potential risks and benefits of your trading decisions. You also further understand and confirm that you have sufficient and substantial experience and knowledge necessary to participate in trading of cryptocurrency and the Pre-Market Trading.

Ⅵ. DISCLAIMER

The PMT Services are provided on an “as is” and “as available” basis. We expressly disclaim, and you waive, any and all other warranties of any kind, whether express or implied, including, without limitation, implied warranties of merchantability, fitness for a particular purpose, title or non-infringement or warranties arising from course of performance, course of dealing or usage in trade.
We are not intended to provide tax, legal, insurance or investment advice, and nothing on the platform should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security or cryptocurrency by BingX. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. If you are not sure, you should consult an attorney or tax professional regarding your specific legal or tax situation.
We do not represent or warrant that the PMT Services, the content of this site, or the relevant information and materials on the platform are accurate, complete, reliable, current, error-free, or free of viruses or other harmful components. For the avoidance of doubt, historical returns are not indicative of future returns. You agree and accept that any statement concerning possible returns displayed on the platform is based on theoretical estimate and just for information purpose only. Actual returns may vary from the expected returns. We do not make any guarantee or promise as to the actual returns that you may receive from the Pre-Market Trading. You hereby acknowledge and agree that you have not relied upon any other statement or understanding, whether written or oral, with respect to your use and access of the PMT Services.
We do not guarantee that any Order will be executed, accepted, recorded or remain open. You understand and agree that the Settlement Date may vary or be delayed in some circumstances, including but not limited to events of extreme market volatility, network delays, a significant number of simultaneous instructions to redeem from other users, or any other unanticipated events. We shall not be liable for any losses caused by the differences in arrival time.
You agree and accept that we have the right to amend the content of these Terms at any time in our sole discretion. We shall not be liable for any losses due to your misunderstanding of the Terms or your failure to know any amendments of the Terms as may be made from time to time.

Language of Use

These terms and conditions may be published in different languages. In case of any discrepancy, please refer to the English version.