These Rules provide explanations of permitted trading methods, terminology, fees, rules applicable to leveraged trades and other important matters so that users can understand the Digital Asset trading that can be performed whilst using the Services.
1. Trading Channels
Trades can be performed online through the Platform accessed using computers, tablets, smartphones, or other devices. Depending on the device, some services may not be available for use.
EQONEX does not accept orders through our customer support representatives via live chat, email, telephone or any other method not approved by EQONEX.
2. Trading Times
Trading Days: Monday to Sunday
Trading Hours: 24 Hours
Digital Asset Transactions may not be performed during scheduled system maintenance.
Trading times may be changed whenever necessary at EQONEX' sole discretion.
3. Trading Currency Pairs
A “Currency Pair” is a set of two Accepted Currencies, displayed side by side, that are traded in a Digital Asset Transaction.
Each Currency Pair, as shown on the Platform, indicates the amount of Accepted Currency displayed on the right side of the Currency Pair that is necessary to acquire one unit of the Accepted Currency on the left side of the Currency Pair. For example, ETH/BTC indicates the amount of BTC necessary to purchase one ETH and BTC/USD indicates the amount of USD necessary to purchase one BTC. The Currency Pairs available to you for trading are visible on the Platform after you log in.
4. Trading Overview
Users can perform spot trades for purposes of Digital Asset Transactions.
To place an order, you must have an available balance of the relevant asset in the Exchange Account which should sufficiently cover the total value of the order and all applicable fees.
B. Order Limits
All Other Digital Assets
Minimum order quanity for spot trades
Trade limit for spot trades
Maximim order quantity for spot trade
5. Order Types
A. Limit Orders
Limit orders are orders with conditions set to buy if the price falls to or below a specified point or to sell if the price rises to or surpasses a specified point. There are instances in which only part of a limit order is executed; in these cases, the remaining order will remain active until executed or until cancelled by the user. In certain circumstances, including scheduled maintenance, limit orders may be cancelled by EQONEX.
B. Market Orders
This is an order method in which the user does not specify a price. When a market buy order is placed, the order quantity is filled beginning with the lowest-priced sell order currently available. Likewise, when a market sell order is placed, the order quantity is filled beginning with the highest-priced buy order currently available.
C. Stop-Loss Orders
Stop-loss orders are market orders with conditions set to buy if the price surpasses a specified point or to sell if the price falls below a specified point.
Slippage refers to a situation in which there is a difference between the price seen by the user (the price displayed on screen when placing an order) and the actual execution price due to reasons such as market changes after an order is placed. In some cases, slippage may be beneficial to the user, but it may also be detrimental; however, EQONEX bears no liability whatsoever in relation to slippage. Slippage can occur with market orders and stop-loss orders. After the order placement, the price requested by the user and the actual contract price might differ, but EQONEX will not be liable for that difference.
7. Depositing and Withdrawing Currencies and Digital Assets
A. Depositing currency
Currency deposited by users must be in a currency supported by EQONEX. Currency deposits must be transferred to the bank account designated by EQONEX and must be transferred from a verified bank account added by the user under their name. Currency funding options are subject to change from time to time. Currency transferred to EQONEX' designated bank accounts will be reflected in the Exchange Account once payment is confirmed. You need to be aware that it may take time for transferred amounts to be reflected in the Exchange Account.
B. Withdrawing currency
Users can have all or part of the withdrawable amount in their Exchange Account returned to them where "withdrawable amount" means the amount deposited in their Exchange Account minus fees and unrealized losses. Therefore, users cannot request withdrawal if the withdrawable amount is less than the withdrawal fee.
To withdraw currency, users must submit a withdrawal request through their Exchange Account on the Platform. Withdrawals will be transferred to a verified bank account nominated by the user under their name.
All users are subject to a daily & monthly withdrawal limit.
C. Depositing Digital Assets to Exchange Accounts
When depositing Digital Assets into a Exchange Account, users must transfer the Digital Asset to the Digital Asset address provided by EQONEX. Digital Assets transferred to the Digital Asset address provided by EQONEX will be reflected in the user's Exchange Account once the transfer is confirmed during business hours. It may take time for Digital Asset transfers to be reflected in user Exchange Account.
D. Withdrawing Digital Assets from Exchange Accounts
Users can withdraw all or part of the Digital Assets deposited in their user Exchange Account. To withdraw Digital Assets, users must submit a withdrawal request through their Exchange Account on the Platform. The withdrawal of Digital Assets generally takes two (2) business days from the date of the request, except in cases where EQONEX notifies the user otherwise.
8. Trading Fees, Charges and Rebates
Trading fees, charges, and rebates, as adjusted from time to time at EQONEX' discretion, are shown on the Fee Schedule.
9. Employee Access & Trading
EQONEX Group prohibits all agents from using inside, corporate, or proprietary information to trade Digital Assets.
EQONEX employees who engage in trading activity on the EQONEX platform are subject to EQONEX trading rules.