Please review our updated terms and conditions for:
Independent Reserve is bound by Australian law to take steps to ensure that it is not involved in the facilitation of money laundering or terrorist financing.
Various AML measures are in place designed to articulate our commitment to detecting, preventing and reporting attempts to use our financial services platform to launder money, to finance illegal activities such as terrorism and drug trafficking, or to commit fraud.
The following is a list of some of these measures:
Independent Reserve is bound by Singapore law to take steps to ensure that it is not involved in the facilitation of money laundering or terrorist financing.
Various AML measures are in place designed to articulate our commitment to detecting, preventing and reporting attempts to use our financial services platform to launder money, to finance illegal activities such as terrorism and drug trafficking, or to commit fraud.
The following is a list of some of these measures:
Independent Reserve 新加坡私人有限公司（“Independent Reserve”）受新加坡法律约束，必须采取措施确保自身不参与洗钱或恐怖主义融资。
我方已采取多项反洗钱（AML）措施，旨在明确我方的坚定承诺：发现、预防和报告试图利用我方的金融服务平台洗钱、资助恐怖主义和贩毒等非法活动或实施欺诈行为。
以下是部分措施的列表：
bitcoin.com.au is bound by Australian law to take steps to ensure that it is not involved in the facilitation of money laundering or terrorist financing.
Various AML measures are in place designed to articulate our commitment to detecting, preventing and reporting attempts to use our financial services platform to launder money, to finance illegal activities such as terrorism and drug trafficking, or to commit fraud.
The following is a list of some of these measures:
We also use your personal information to:
We also use your personal information to:
Independent Reserve Pty. Ltd. (we, us or Independent Reserve) is bound by the Privacy Act 1988 (Cth), including the Australian Privacy Principles. This Policy describes our policies and practices for collecting, handling, storing, using and disclosing personal information for the purposes of our functions and activities. It also deals with how you can complain about a breach of the privacy laws, access the personal information we hold about you and have that personal information corrected (where necessary).
'Personal information' is information or an opinion about an identified individual, or an individual who is reasonably identifiable, whether the information or opinion is true or not and whether the information or opinion is recorded in a material form or not. Examples include an individual name, address, contact number and email address.
‘Sensitive information’ is a special category of personal information. Sensitive information includes health information and information about an individual’s race or ethnic origin, philosophical beliefs, membership of a professional or trade association, membership of a trade union, religious or philosophical beliefs.
We collect and hold a range of personal information in carrying out our business and functions as a cryptocurrency and Bitcoin exchange. The kinds of personal information we collect and hold about you will depend upon the nature of our relationship with you and the circumstances of collection, including whether we collect the information from you as a customer, supplier, job applicant or some other capacity.
For example, if you are a customer:
If you apply for a job with us, we may collect your name and contact details as well as information in relation to your past or current employment. If you are or become an employee, the handling of your personal information may be exempt from the APPs if it’s directly related to your current or former employment relationship with us.
If you deal with us in some other capacity, we may collect your name and contact details and any other information you choose to provide to us.
We do not generally collect sensitive information and we will only collect sensitive information about you with your consent (unless we are otherwise required or authorised by or under law to do so).
If you provide us with personal information about another person, please make sure that you tell them about this privacy policy.
We collect personal information in a variety of ways, including:
We collect, hold, use and disclose personal information for a range of purposes including:
As a part of verification processes for the purpose of complying with the Anti-money Laundering and Counter-terrorism Financing Act 2006 (Cth) (AML/CTF Act) and associated rules and regulations, we may need to disclose your full name, residential address and date of birth to a service provider, who may provide such information to a credit reporting agency for the purpose of providing an assessment of whether this identification information matches (in whole or in part) personal information held by the credit reporting agency. Further document verification services may be conducted involving personal details being checked with the document issuer or official record holder. The credit reporting agency may compare your details with personal information held by the agency (being the names, residential address and dates of birth of other individuals) for the purposes of making this assessment. The assessment will be provided to Independent Reserve, or its agent, for the sole purpose of verifying your identity. If Independent Reserve, or its agent, is unable to verify your identity using information held by a credit reporting agency, Independent Reserve will provide you with a notice that an alternative means of verifying your identity may be required for the purposes of complying with the AML/CTF Act. By proceeding with your application, you are confirming you have read and accept the Privacy Policy and provide your express consent to Independent Reserve disclosing your personal information to a credit reporting agency or document issuer or official record holder for the purposes of the AML/CTF Act.
We may use and disclose your personal information for other purposes required or authorised by or under law (including purposes for which you have provided your consent).
We may use your personal information so we can contact you with information about our products and services, special offers, promotions and events that may be of interest to you.
We may contact you by email, mail or telephone .If you do not wish to receive promotional offer you may unsubscribe from receiving these communications at any time by contacting us at support@independentreserve.com.
If you do not provide us with some or all the personal information that we ask for, we may not be able to verify your identity and as such you may not be able to open an account with Independent Reserve or use our Platform.
You can contact us to make a general query without using your name or by using a pseudonym. However we may need your name or contact details to respond to you.
If you ask us to, we will share your personal information with your financial adviser, or other professional and business advisers (such as lawyers and auditors). This could include making information held in your Independent Reserve account available for viewing by your advisers through the Iress Platform.
We will share your personal information with any secondary user granted access to your account in accordance with our Terms and Conditions.
In conducting our business, we may disclose your personal information to third parties for the purposes outlined above. These third parties may include, where appropriate:
our contracted service providers, including:
We may disclose your information to law enforcement agencies in Australia if requested as part of an investigation or to other third parties and for other purposes where we are required or authorised by or under law to do so (including where you have provided your consent).
We do not sell, trade, or rent your personal information to others.
Some of our service providers and related companies are located outside Australia. As a result, personal information collected and held by us may be transferred to recipients in other countries. In particular, we may disclose personal information to our related companies located in Singapore. We may also use service providers located in a range of countries to conduct identity verification.
We may disclose personal information to external service providers located overseas in New Zealand and the United States so that they can provide us with services in connection with the operation of our business, such as marketing services and data storage.
We generally hold personal information in computer systems, including computer systems operated for us by our service providers. We take reasonable steps to protect personal information from misuse, interference, loss, and unauthorised access, modification or disclosure. This includes taking appropriate security measures to protect electronic materials and requiring our service providers to do so.
We store hardcopy files in offices and cupboards within an access controlled premises. Under our records managements system, access to files is appropriately limited. We may apply additional security measures limiting access to information about files or store files in locked cupboards or access restricted rooms as necessary or desirable based on our clients' needs.
We store electronic records within our own secure network and through third party data storage providers. Personal information within our network is password protected and access is appropriately limited.
Our third party data storage providers are required to protect personal information in accordance with applicable laws and take appropriate technical and organisation measures against unauthorised or unlawful use of personal information or its accidental loss, destruction or damage.
You have a right to request access to personal information that we hold about you and request its correction if it is inaccurate, out of date, incomplete, irrelevant or misleading.
To protect your privacy and the privacy of others, we may require evidence of your identity before we can give you access to information about you or change it.
If you wish to access or correct your personal information, you should contact us via the Support screen or by contacting us at support@independentreserve.com. We do not charge for receiving a request for access to personal information however we may charge you for our reasonable expenses incurred in providing you with access to your information. Charges will include the cost of our staff to compile the records requested, any postage charges and development costs for any bespoke data requests.
In some limited situations, we may need to refuse access to your personal information or refuse a request for correction. We will advise you as soon as possible after your request if this is the case and the reasons for our refusal.
We use technology to collect, store and use anonymous data about how you use our website / mobile technology. For example, when you browse our website our service provider logs your server address, the date and time of your visit, the pages and links accessed and the type of browser used. We use this information to recognise you as a customer and user of the Independent Reserve’s platform, and to improve the content and functionality of our website, to better understand our clients and markets and to improve our services. This information alone cannot be used to discover your identity.
Cookies are small pieces of information which are sent to your browser and stored on your computer’s hard drive. Cookies allow websites and browsers to operate more efficiently, improve your browsing experience as well as to provide anonymised information to the owners of the site.
We may use cookies on our website to recognise you as a customer and user of Independent Reserve’s Platform, to customise our services and advertising, and to collect information in order alleviate the risk of fraud and illegal conduct.
We may also utilise cookies to assist in delivering targeted advertising campaigns at certain times through third party sites.
You can set your browser to notify you when you receive a cookie so that you can decide if you want to accept it. You can also de-activate the use of cookies if you do not want to receive targeted advertising however; although this may impact the operation of the website. In order to provide a more user-friendly experience and enhance security, cookies will also be used to allow our website to recognise your computer when you return in the future.
We welcome your questions and comments about how we manage your privacy. If you have any concerns about whether we have complied with the Privacy Act, the Australian Privacy Principles or this Privacy Policy, please contact our Privacy Officer at support@independentreserve.com.
We will consider your complaint through our internal complaints resolution process and we will try to respond with a decision within 30 days of you making the complaint. If you are not satisfied with our response, you can contact us to discuss your concerns or lodge a complaint with the Australian Information Commissioner (oaic.gov.au).
If you would like to complain about a breach of the Australian Privacy Principles, you may contact our Privacy Officer at the details below. We will respond to complaints within a reasonable period of time (usually 30 days). If you disagree with our decision, you may refer your complaint to the Office of the Australian Information Commissioner by visiting www.oaic.gov.au, calling 1300 363 992 or by emailing enquiries@oaic.gov.au.
We may from time to time vary this Privacy Policy. Please check our website regularly for an up-to-date version of our Privacy Policy.
Independent Reserve SG PTE. LTD (“Independent Reserve”, “we”, “us” or “our” or us) works together with banks and financial institutions that are required by law to take steps to prevent fraud, money-laundering and terrorist-financing. Given the nature of our core business, we take the privacy and security of an individual’s personal information very seriously.
This Privacy Policy has been drafted solely in accordance with the laws of Singapore and the Personal Data Protection Act (PDPA). We do not represent or warrant that this Privacy Policy complies with the privacy laws of any other jurisdiction. The PDPA governs the way in which we may collect, use and disclose personal data about any individual (you). This Privacy Policy sets out the manner in which we comply with our obligations under the PDPA.
We are committed to protecting your personal information and your right to privacy.
If you have any queries or concerns about our policy or our conduct pertaining to your personal information, please contact us.
This Privacy Policy governs the privacy policies and practices of this website (“the Site”).
Please read our Privacy Policy carefully as it will help you make informed decisions about sharing your personal information with us.
“Personal Information” shall mean personally identifiable information relating to yourself that Independent Reserve shall require from time to time in order to comply with its “Know Your Client/Client Due Diligence” policy and/or any relevant law, regulation, notice or guideline issued by any competent authority, relating to money laundering and the prevention of terrorist financing.
You expressly acknowledge, agree and understand that we shall retain your Personal Information on our electronic database and in respect of which, you expressly agree as follows:
That we, our employees, representatives, and/or our affiliates shall, insofar as shall be necessary to enable the Personal Information to be utilised in accordance with the clause above, be released from any and all laws and regulations in Singapore, related to our legal and professional secrecy obligations in connection with such Personal Information, in so far as we, our employees, representatives and/or any of our affiliates protect your Personal Information in accordance to the same standards as that accorded under the Personal Data Protection Act 2012.
We understand and acknowledge that to the extent that performance of our obligations hereunder involves or necessitates the processing of your Personal Information we shall, and shall procure that our employees, representatives, affiliates and/or subcontractors, if any, shall act only on instructions or directions received from us (or, in the case of processing by our subcontractors, directions from us) and shall comply promptly with all such instructions or directions received from us from time to time and shall take and implement, and procure the taking and implementing by subcontractors of, such reasonable security procedures and measures as may be necessary or appropriate to preserve the security and confidentiality of such Personal Information processed and to protect such Personal Information against unauthorized or unlawful access, processing, accidental loss, destruction or damage. We may from time to time transfer Personal Information that we process under these terms of services outside Singapore for processing either by our affiliates, subcontractors and/or third parties, and you the user acknowledge that you are aware of such proposed data transfers in respect of all data processing activities by Independent Reserve and our employees, representatives, affiliates and/or subcontractors under the Personal Data Protection Act 2012.
We will notify you as soon as reasonably practicable upon becoming aware of any adverse event involving the use of your Personal Information, including but not limited to, events which may disrupt normal operations leading to potential prolonged service failure or disruption and breaches of confidentiality.
We collect personal data from customers for identity verification purposes under anti-money laundering and fraud prevention laws and for establishing your account in accordance to your preferred usage, which may involve telegraphic transfers, SWIFT, FAST and PayNow.
We only use and disclose personal data collected in this manner insofar as necessary in order to provide our services to you, which may involve (amongst others) integration with identity verification and related services, establishing a payment gateway account for you, or as otherwise required by law, including compliance with the laws governing transfers of virtual assets to unhosted wallets and/or hosted wallets with third party Virtual Asset Service Providers.
There are also a few limited circumstances in which we may collect personal data directly from you. This is limited to circumstances where you make direct contact with us by telephone or in writing, or via our website at independentreserve.com/sg. We will only use personal data collected in this manner for the purpose of communicating with you (and/or your elected secondary users) or otherwise in accordance with the purpose for which you provided your personal data.
The type of personal data which we may collect from customers includes your name, current and previous addresses, date of birth, telephone number, National Registration Identity Card (NRIC) number, driver licence number, passport number and any other data which may be relevant for the purposes of accurately verifying your identity. We require our third party providers and corporate customers to comply with all relevant privacy and data protection laws (including, where necessary, obtaining the appropriate express or implied consent from you at the time your personal data is collected) in order for such information to be lawfully used for identity verification and related purposes.
We do not collect, use or disclose any sensitive data about any person beyond that which has been accorded for within this Privacy Policy. This includes a person’s racial or ethnic origin, political opinion, political association (except in so far as this constitutes you being deemed a Politically Exposed Person), religious belief or affiliation, philosophical belief, trade union or association, sexual preference or health information.
We do not use or adopt as our own identifier any individual identifier assigned by any other organisation.
We take all reasonable steps (including the employment of appropriate security systems and procedures) to ensure all data held by us is safe and secure. Such security measures include physical protection and electronic encryption to prevent any unauthorised access.
We take all reasonable steps to ensure that any personal information that we collect and use is accurate, complete and up-to-date.
You have a right to access your personal information, subject to some exceptions allowed by law. If you wish to access your personal data, you should contact us via the Support screen. We reserve the right to charge a fee for searching for and providing access to your information.
Where we determine, acting reasonably, that personal data held in respect of an individual is no longer needed for our functions or the services we provide, we will permanently destroy or de-identify that data, subject to prevailing record retention periods as prescribed under applicable regulatory requirements in Singapore.
We collect anonymised data, through the use of "cookies". Cookies are small pieces of information which are sent to your browser and stored on your computer’s hard drive. We may use cookies to recognise you as a customer and user of Independent Reserve’s Service, to customise our services and advertising, and to collect information in order to alleviate the risk of fraud and illegal conduct.
We may also utilise cookies to assist in delivering targeted advertising campaigns at certain times through third party sites. Personally identifiable data is not captured by the cookies used for advertising.
You may opt-out of receiving targeted advertising by visiting the NAI and AdChoices opt-out pages.
We may update this Privacy Policy from time to time. Please check our website regularly for an up-to-date version of our Privacy Policy.
Independent Reserve 新加坡私人有限公司（“Independent Reserve”, “我方”） 与法律要求的银行和金融机构合作，采取措施以预防欺诈、洗钱和恐怖主义融资。鉴于我方核心业务的性质，我方非常重视个人信息的隐私和安全。
本隐私政策完全根据新加坡法律和《个人资料保护法令》（PDPA） 拟定。我方不声明或保证本隐私政策符合任何其他司法管辖区的隐私法。PDPA 规定了我方收集、使用和披露任何 （贵方）个人数据的方式。本隐私政策规定了我方遵守 PDPA 义务的方式。
我方致力于保护贵方的个人信息和隐私权。 若贵方对我方的政策或我方与贵方的个人信息有关的行为有任何疑虑，敬请与我方联系。
本隐私政策适用于本网站的隐私政策和惯例。 请仔细阅读我方的隐私政策，它将帮助贵方做出明智决定，确定是否与我方共享个人信息。
个人信息”是指与贵方相关的可识别个人信息，Independent Reserve 可能会不时要求贵方提供，以便符合“了解您的客户/客户尽职调查”政策和/或由任何主管机构发布的与反洗钱和防止恐怖主义融资相关的任何相关法律、法规、通知或指导方针。 贵方明确承认、同意并理解，我方将在我方的电子数据库中保留贵方的个人信息，贵方明确同意如下内容：
为使个人信息能够根据上述条款使用，只要我方、我方员工、代表和/或任何我方关联公司在保护贵方个人信息方面符合 2012 年通过的《个人资料保护法令》（PDPA）所规定的标准，那么我方、我方员工、代表和/或我方关联公司应在必要范围内免除所有与此类个人信息相关的法律和专业保密义务的新加坡法律和法规。
我方理解并承认，在履行本协议项下的义务涉及或需要处理贵方个人信息的情况下，我方应当确保我方及我方员工、代表、关联公司和/或分包商（如有）仅根据我方接收到的指示或指令行事（或在我方分包商进行处理时，根据我方指示行事），并应及时遵守我方不时收到的所有此类指示或指令，并采取和执行必要或适当的合理安全程序和措施，以保护经处理的个人信息的安全性和机密性，并保护此类个人信息免受未经授权或非法访问、处理、意外丢失、破坏或损害。我方可能会不时将根据本服务条款处理的个人信息转移至新加坡境外进行处理，无论是由我方关联公司、分包商和/或第三方进行处理，贵方作为用户应知悉，根据 2012 年《个人资料保护法令》，贵方了解在 Independent Reserve 以及我方员工、代表、关联公司和/或分包商进行的所有数据处理活动中，存在此类拟议的数据转移。
一旦发现任何涉及使用贵方个人信息的不利事件，包括但不限于可能扰乱正常运营，导致潜在长期服务故障或中断的事件以及保密性违规事件，我方将在合理可行的情况下尽快通知贵方。
我方收集客户的个人数据，用于根据反洗钱和欺诈预防法进行身份验证，并根据贵方的首选方式创建贵方账户，其中可能涉及电汇、SWIFT、FAST 和 PayNow。 我方仅在必要时使用和披露以此方式收集的个人数据，以便为您提供服务，其中可能涉及身份验证和相关服务的集成，为贵方建立支付网关账户，或根据法律要求的情况下使用和披露，包括遵守有关将虚拟资产转移至非托管钱包和/或第三方虚拟资产服务供应商托管钱包的法律。
在某些有限的情况下，我方可能会直接从贵方处收集个人数据。这仅限于贵方通过电话或书面形式，或通过我方网站 www.independentreserve.com/sg/zh 与我方直接联系的情况。我方仅将以这种方式收集的个人数据用于与贵方（和/或您指定的子用户）沟通，或按照贵方提供个人数据的目的使用。
我方可能从客户处收集的个人数据类型包括：贵方姓名、当前和之前的地址、出生日期、电话号码、国民注册身份证（NRIC） 号码、驾照号码、护照号码，以及可能与准确验证贵方身份相关的任何其他数据。我方要求我方的第三方供应商和公司客户遵守所有相关的隐私和数据保护法律（包括在必要时收集贵方个人数据时，获取贵方的适当明示或暗示同意），以便将此类信息合法地用于身份验证和相关目的。
我方绝对不会收集、使用或披露本隐私政策规定之外的任何人的任何敏感数据。这包括个人的种族或族裔、政治观点、政治关联（构成被视为政治公众人物的情况除外）、宗教信仰或隶属关系、哲学信仰、工会或协会、性取向或健康信息。
我方不使用或采用任何其他组织分配的任何个人标识符作为我方自己的标识符。
我方采取一切合理措施（包括采用适当的安全系统和程序）以确保我方持有的所有数据安全可靠。此类安全措施包括物理保护和电子加密，以防止任何未经授权的访问。
我方采取一切合理措施确保我方收集和使用的任何个人信息均为准确、完整和最新。
贵方有权访问贵方的个人信息，但法律允许的某些例外情况除外。若贵方想访问贵方的个人数据，请通过 Support 页面与我方联系。我方保留对搜索和访问贵方信息收取费用的权利。
在我方合理确定我方的职能或提供的服务不再需要个人持有的个人数据，我方将永久销毁或取消识别该数据，但仍会遵守新加坡适用监管要求规定的现行记录保留期限。
我方通过使用 “Cookie” 收集匿名数据。Cookie 是发送至浏览器并存储于计算机硬盘驱动器中的小段信息。我方可能会使用 Cookie 将贵方识别为 Independent Reserve 服务的客户和用户，定制我方服务和广告，并收集信息以降低欺诈和非法行为的风险。
我方还可能利用 Cookie 协助在特定时间通过第三方网站进行有针对性的广告活动。用于广告的 Cookie 不会捕获个人身份数据。
通过访问 NAI 和 AdChoices 选择退出页面，贵方可以选择退出接收目标广告。
我方可能会不时更新本隐私政策。请定期查看我方网站，获取隐私政策的最新版本。
bitcoin.com.au. (we, us or bitcoin.com.au) is bound by the Privacy Act 1988 (Cth), including the Australian Privacy Principles. This Policy describes our policies and practices for collecting, handling, storing, using and disclosing personal information for the purposes of our functions and activities. It also deals with how you can complain about a breach of the privacy laws, access the personal information we hold about you and have that personal information corrected (where necessary).
'Personal information' is information or an opinion about an identified individual, or an individual who is reasonably identifiable, whether the information or opinion is true or not and whether the information or opinion is recorded in a material form or not. Examples include an individual name, address, contact number and email address.
‘Sensitive information’ is a special category of personal information. Sensitive information includes health information and information about an individual’s race or ethnic origin, philosophical beliefs, membership of a professional or trade association, membership of a trade union, religious or philosophical beliefs.
We collect and hold a range of personal information in carrying out our business and functions as a cryptocurrency and Bitcoin exchange. The kinds of personal information we collect and hold about you will depend upon the nature of our relationship with you and the circumstances of collection, including whether we collect the information from you as a customer, supplier, job applicant or some other capacity.
For example, if you are a customer:
If you apply for a job with us, we may collect your name and contact details as well as information in relation to your past or current employment. If you are or become an employee, the handling of your personal information may be exempt from the APPs if it’s directly related to your current or former employment relationship with us.
If you deal with us in some other capacity, we may collect your name and contact details and any other information you choose to provide to us.
We do not generally collect sensitive information and we will only collect sensitive information about you with your consent (unless we are otherwise required or authorised by or under law to do so).
If you provide us with personal information about another person, please make sure that you tell them about this privacy policy.
We collect personal information in a variety of ways, including:
We collect, hold, use and disclose personal information for a range of purposes including:
As a part of verification processes for the purpose of complying with the Anti-money Laundering and Counter-terrorism Financing Act 2006 (Cth) (AML/CTF Act) and associated rules and regulations, we may need to disclose your full name, residential address and date of birth to a service provider, who may provide such information to a credit reporting agency for the purpose of providing an assessment of whether this identification information matches (in whole or in part) personal information held by the credit reporting agency. Further document verification services may be conducted involving personal details being checked with the document issuer or official record holder. The credit reporting agency may compare your details with personal information held by the agency (being the names, residential address and dates of birth of other individuals) for the purposes of making this assessment. The assessment will be provided to bitcoin.com.au, or its agent, for the sole purpose of verifying your identity. If bitcoin.com.au, or its agent, is unable to verify your identity using information held by a credit reporting agency, bitcoin.com.au will provide you with a notice that an alternative means of verifying your identity may be required for the purposes of complying with the AML/CTF Act. By proceeding with your application, you are confirming you have read and accept the Privacy Policy and provide your express consent to bitcoin.com.au disclosing your personal information to a credit reporting agency or document issuer or official record holder for the purposes of the AML/CTF Act.
We may use and disclose your personal information for other purposes required or authorised by or under law (including purposes for which you have provided your consent).
We may use your personal information so we can contact you with information about our products and services, special offers, promotions and events that may be of interest to you.
We may contact you by email, mail or telephone .If you do not wish to receive promotional offer you may unsubscribe from receiving these communications at any time by contacting us at support@bitcoin.com.au.
If you do not provide us with some or all the personal information that we ask for, we may not be able to verify your identity and as such you may not be able to open an account with bitcoin.com.au or use our Platform.
You can contact us to make a general query without using your name or by using a pseudonym. However we may need your name or contact details to respond to you.
We will share your personal information with any secondary user granted access to your account in accordance with our Terms and Conditions.
In conducting our business, we may disclose your personal information to third parties for the purposes outlined above. These third parties may include, where appropriate:
our contracted service providers, including:
We may disclose your information to law enforcement agencies in Australia if requested as part of an investigation or to other third parties and for other purposes where we are required or authorised by or under law to do so (including where you have provided your consent).
We do not sell, trade, or rent your personal information to others.
Some of our service providers and related companies are located outside Australia. As a result, personal information collected and held by us may be transferred to recipients in other countries. In particular, we may disclose personal information to our related companies located in Singapore. We may also use service providers located in a range of countries to conduct identity verification.
We may disclose personal information to external service providers located overseas in New Zealand and the United States so that they can provide us with services in connection with the operation of our business, such as marketing services and data storage.
We generally hold personal information in computer systems, including computer systems operated for us by our service providers. We take reasonable steps to protect personal information from misuse, interference, loss, and unauthorised access, modification or disclosure. This includes taking appropriate security measures to protect electronic materials and requiring our service providers to do so.
We store hardcopy files in offices and cupboards within an access controlled premises. Under our records managements system, access to files is appropriately limited. We may apply additional security measures limiting access to information about files or store files in locked cupboards or access restricted rooms as necessary or desirable based on our clients' needs.
We store electronic records within our own secure network and through third party data storage providers. Personal information within our network is password protected and access is appropriately limited.
Our third party data storage providers are required to protect personal information in accordance with applicable laws and take appropriate technical and organisation measures against unauthorised or unlawful use of personal information or its accidental loss, destruction or damage.
You have a right to request access to personal information that we hold about you and request its correction if it is inaccurate, out of date, incomplete, irrelevant or misleading.
To protect your privacy and the privacy of others, we may require evidence of your identity before we can give you access to information about you or change it.
If you wish to access or correct your personal information, you should contact us via the Support screen or by contacting us at support@bitcoin.com.au. We do not charge for receiving a request for access to personal information however we may charge you for our reasonable expenses incurred in providing you with access to your information. Charges will include the cost of our staff to compile the records requested, any postage charges and development costs for any bespoke data requests.
In some limited situations, we may need to refuse access to your personal information or refuse a request for correction. We will advise you as soon as possible after your request if this is the case and the reasons for our refusal.
We use technology to collect, store and use anonymous data about how you use our website / mobile technology. For example, when you browse our website our service provider logs your server address, the date and time of your visit, the pages and links accessed and the type of browser used. We use this information to recognise you as a customer and user of the bitcoin.com.au platform, and to improve the content and functionality of our website, to better understand our clients and markets and to improve our services. This information alone cannot be used to discover your identity.
Cookies are small pieces of information which are sent to your browser and stored on your computer’s hard drive. Cookies allow websites and browsers to operate more efficiently, improve your browsing experience as well as to provide anonymised information to the owners of the site.
We may use cookies on our website to recognise you as a customer and user of the bitcoin.com.au Platform, to customise our services and advertising, and to collect information in order alleviate the risk of fraud and illegal conduct.
We may also utilise cookies to assist in delivering targeted advertising campaigns at certain times through third party sites.
You can set your browser to notify you when you receive a cookie so that you can decide if you want to accept it. You can also de-activate the use of cookies if you do not want to receive targeted advertising however; although this may impact the operation of the website. In order to provide a more user-friendly experience and enhance security, cookies will also be used to allow our website to recognise your computer when you return in the future.
We welcome your questions and comments about how we manage your privacy. If you have any concerns about whether we have complied with the Privacy Act, the Australian Privacy Principles or this Privacy Policy, please contact our Privacy Officer at support@bitcoin.com.au.
We will consider your complaint through our internal complaints resolution process and we will try to respond with a decision within 30 days of you making the complaint. If you are not satisfied with our response, you can contact us to discuss your concerns or lodge a complaint with the Australian Information Commissioner (oaic.gov.au).
If you would like to complain about a breach of the Australian Privacy Principles, you may contact our Privacy Officer at the details below. We will respond to complaints within a reasonable period of time (usually 30 days). If you disagree with our decision, you may refer your complaint to the Office of the Australian Information Commissioner by visiting www.oaic.gov.au, calling 1300 363 992 or by emailing enquiries@oaic.gov.au.
We may from time to time vary this Privacy Policy. Please check our website regularly for an up-to-date version of our Privacy Policy.
Eligibility and application
There are three types of Accounts:
To be eligible to open an Account with us, you must:
When applying for an Account, you must provide any information requested by us in order for us to provide complete access to the Platform and Services. You consent to your personal information being collected and used in accordance with Independent Reserve’s Privacy Policy. In addition, for the purposes of verifying your identity, you consent to:
Changes
Use
Agency
FastTrack Account
Risks
There is also the risk that the regulatory landscape changes and any change may impact:
in some extreme cases, may mean:
Credit and Debit Card Transactions
PayPal Transactions
Appointment of secondary users
Any nominated secondary user must be:
Provided that your Account is fully verified, you may nominate a secondary user either:
Secondary user Types and Permissions
You are able to nominate an individual as one of the following three secondary user types on your Account:
Trader (Three different tiers of Trader are available):
Security Requirements
User Management
Multi-User Account Limits
Individual accounts:
Company accounts:
Secondary user Registration and Verification
No Change in Ownership or Obligations
Acknowledgement
You acknowledge and agree:
We are not responsible or liable for:
except to the extent that it is a direct result of our negligent or wrongful acts or omissions.
Rights
Obligations
By registering and holding an Account with us, you agree to:
not use the service to engage in any criminal or restricted activities, including (but not limited) to:
A trade may be made at:
Once the trade has been executed, any:
If we store some of your Cryptocurrency in smart contracts for on-chain staking protocols, then we may earn staking rewards for doing so. You acknowledge and agree that we are absolutely entitled to those staking rewards and that:
Transfer
You are solely responsible for ensuring that:
You must take precautions when withdrawing and storing your Cryptocurrency, especially when withdrawing from your Account to an overseas-based provider. We have prepared education articles on the dangers of withdrawing to overseas providers on our Protect your account and How to spot a Bitcoin scam pages. These articles are updated from time to time. You acknowledge and agree that:
Debit Balances
If at any time your Account has a debit balance, you agree to pay us:
If, after a demand is made by us, and you have not made payment of the outstanding debit balance, then:
You agree that we may, by giving notice, in our sole discretion terminate your access to the Platform, Services and Account, including without limitation to:
take any technical or legal steps to keep you from accessing the Platform or Services if we are of the reasonable belief that you are:
Additionally, we may, at our complete discretion, suspend, restrict, limit or terminate your Account for any reason, including without limitation, where:
there are attempts to use the Platform, Service or Account to perform any illegal activities such as:
If there is a period of high market volatility, high volume trades, rapid movements or illiquidity in the market, the market rate in which you are able to buy, sell or trade Cryptocurrency may vary from the price indicated on our Platform. We are not liable for any price variation due to market volatility, market or technology disruptions, delays or any other matters caused by things that are outside of our control. You acknowledge and agree that we will process your transaction at the current price. In certain circumstances, we may decide not to execute a trade if the market rate significantly increases or decreases or in the event of a market disruption or an event which is outside of our control and, in such cases, we may cancel any order and return the funds to your Account. We will exercise reasonable care to notify you of these events and when you receive a notification you must check your Account and any pending or cancelled transactions.
Limitation on Liability
Our total aggregate financial liability in respect of claims based on events arising out of or in connection with your use of the Platform or Services, whether in contract or tort (including negligence) or otherwise, will in no circumstances exceed the lesser of:
Indemnity
To the maximum extent permitted by law, you hereby agree to indemnify us, and our partners, officers, directors, employees and agents against any action, liability, cost, claim, demand, loss, damage, proceeding or expense (Loss) of any nature arising under tort, statute, equity, contract or some other cause of action that we suffer as a result of:
Treatment
Making a Claim for Unallocated Deposits
You are able to make a claim for the repayment of an Unallocated Deposit (less any accumulated fees) by contacting us through the support screen or by email support@independentreserve.com.
Trustee of Unallocated Deposits
The Unallocated Deposit will incur:
Terms
AutoTrader Risk Disclosure Statement
When you use the Platform, we will collect personal information about you and your secondary users. Independent Reserve’s Privacy Policy is available at https://www.independentreserve.com/au/help/privacy-policy and Privacy Collection Notice is available at https://www.independentreserve.com/au/help/privacy-collection-notice
Forked Blockchain
Airdrop
We reserve the right to use our own discretion when deciding to support or not support any airdrop event. We may decide to provide any airdropped Cryptocurrency to you following an airdrop event. If we decide to provide any Cryptocurrency as part of an airdrop event, you may opt-out of receiving any of the Cryptocurrency that results from the airdrop event by contacting the support team. A secondary user is not able to provide any instructions in relation to opting-out of an airdrop event on your behalf.
Acknowledgement
You acknowledge and agree that we are not responsible or liable for:
We reserve the right to change, amend, modify, add or delete any of these Terms and Conditions, at any time, in an exercise of our sole discretion. These amendments, modifications, additions or deletions apply to your use of the Platform and Services as soon as they are displayed on the Platform (whether or not you are aware of those amendments, modifications, additions or deletions) and will be notified to you on the first log-in to your Account after the change has occurred. Your continued use of the Platform and Services following any changes to the Terms and Conditions signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms and Conditions.
You acknowledge and agree that:
"Account" means a FastTrack Account, Standard Account and Multi-user Account.
"Account Owner" means the individual or Entity who owns the Standard or Multi-User Account.
"API" means an application programming interface, which is made available by us from time to time.
"App" means a mobile application made available by us that can be downloaded from the Apple App Store, Google Play Store or any other app store or market from time to time.
"Autotrader" means our automatic trading service, which allows you to create automated trading strategies.
"Cryptocurrency" means the coins, tokens, crypto, digital currency, or digital assets listed by us on our Platform from time to time.
"Entity" means one of the following:
"FastTrack Account" means a limited functionality account that allows you to deposit and trade on our Platform but not to withdraw from our Platform.
"FastTrack Information" means the information required for us to satisfy our anti-money laundering and counter-terrorism financing obligations that we request from you during your on-boarding.
"OTC Services" means any over-the-counter trading services we provide for Cryptocurrencies, which may be subject to additional terms and conditions.
"Platform" means the Website, App or other API made available by us from time to time through which we may provide our Services.
"Privacy Policy" means the privacy policy that we have available on our Website from time to time, accessible at https://www.independentreserve.com/au/help/privacy-policy.
"Services" means:
"Standard Account" means an account that we have created to enable you to use the Platform.
"Secondary user" means an individual person that has been granted access to your Multi-user Account in accordance with clause 3 of these Terms and Conditions.
"Multi-user Account" means an account that we have created in accordance with clause 3 of these Terms and Conditions for a Multi-user.
"Secondary User Account" refers to the account created by a secondary user linked to a Multi-user Account by invitation of the Account Owner.
"Terms and Conditions" means these terms and conditions.
"Unallocated Cryptocurrency Deposit" means Cryptocurrency that:
"Unallocated Deposit" means Unallocated Cryptocurrency Deposits and Unallocated Fiat Deposits made into our Platform where no claim of ownership is made within a period of 18 months.
"Unallocated Fiat Deposit" means fiat currency that following the date of the deposit:
"Website" means the internet site at the domain https://www.independentreserve.com or any other site or operated by us.
"we, us or our" means Independent Reserve Pty. Ltd., ABN 46 164 257 069.
"you or your" means any user of the Platform, including a secondary user unless expressly provided otherwise.
These are the terms and conditions for the use of services provided by Independent Reserve SG Pte Ltd (“Independent Reserve Singapore”) through its platform and application. References in these Terms and Conditions to “we”, “us” and “our” refer to Independent Reserve Singapore, and references to “you”, “your”, “user” or “customer” refer to you as the user of our platform and services.
Account Types
Independent Reserve Singapore offers the following types of Accounts:
Digital Payment Token (“DPT” or “Cryptocurrency”) Services
We reserve the right to:
Independent Reserve Singapore will not be responsible for:
Fiat services
Trading Desk
AutoTrader
RISK WARNING ON DIGITAL PAYMENT TOKEN (“DPT”) SERVICES
The Monetary Authority of Singapore (MAS) requires us to provide this risk warning to you as a customer of Independent Reserve Singapore.
Before you:
General Cryptocurrency Risk Warnings
Market Volatility
Personal Account
To be eligible to open an Account with us or gain access as a sub-user, you must:
For the purposes of verifying your identity during the Account application process, you also consent to:
Appointment of Sub-Accounts
Corporate Account
To be eligible to open a Corporate Account with us you must:
Accredited Investors
User Permissions
Personal Accounts
You can nominate an individual as one of the following sub-user roles on your Account:
Each Multi-user Account is subject to the following Sub-Account limits:
Corporate Accounts
Each Corporate Account is subject to the following Sub-Account limits:
User management of Sub-Accounts
Negative Balances
You are required to have sufficient funds in your Account to make any trade using the Platform. If at any time your Account has a negative balance, you agree to pay us:
If, after a demand is made by us, you have not made payment of the amounts due, then:
Rights and Obligations
By registering and holding an Account with us, you agree to:
Where a Sub-Account is opened, you acknowledge and agree that:
Account Changes
Security
Restrictions on Use
When using the Platform or Services, you are prohibited from doing any of the following:
Using the service to engage in any criminal or restricted activities, including but not limited to:
Export Controls and Sanctions
Your use of the Services may be subject to export restrictions, end-user restrictions, economic sanctions requirements and anti-terrorism laws. By using the Services, you are agreeing to comply with any and all applicable laws, regulations, and requirements. You are not permitted to use or transact through the Services if it will result in a breach of applicable law or regulatory restrictions.
Requests for Information
From time to time, we may request for additional information or supporting documentation relating to the nature and purpose of your transactions on the Platform as part of our compliance and risk management measures. This may include information on your source of wealth or source of funds. Failure to comply with our requests or to provide us with satisfactory documentation may result in the suspension of the Services or the closure of your Account without notice.
Transfers out
You are solely responsible for ensuring that:
You acknowledge and agree that:
Unallocated Deposits & Unclaimed Funds
Withholding of Transactions
We reserve the right to suspend transactions or withhold your access to any funds on our platform where we perceive a risk of money laundering, terrorist or proliferation financing, tax evasion, fraud or scam activity occurring through the Account.
Unauthorized Transactions
You are solely responsible for the transactions made on and through your Account, whether initiated by yourself of through any linked Sub-Account.
You agree that we may, by giving notice, in our sole discretion terminate your access to the Platform, Services and Account, including without limitation:
take any technical or legal steps to keep you from accessing the Platform or Services if we are of the reasonable belief that you are:
Additionally, we may, at our complete discretion, suspend, restrict, limit or terminate your Account for any reason, including without limitation, where:
there are attempts to use the Platform, Service or Account to perform any illegal activities such as:
Our total aggregate financial liability in respect of claims based on events arising out of or in connection with your use of the Platform or Services, whether in contract or tort (including negligence) or otherwise, will in no circumstances exceed the lesser of either:
To the maximum extent permitted by law, you hereby agree to indemnify us, and our partners, officers, directors, employees and agents against any action, liability, cost, claim, demand, loss, damage, proceeding or expense (Loss) of any nature arising under tort, statute, equity, contract or some other cause of action that we suffer as a result of:
Relationship of the Parties
Independent Reserve Singapore does not act as your trustee, broker, agent, or advisor in any fiduciary capacity. Any communication from us to you is not intended as, nor shall be construed, as investment, financial, legal, or tax advice, or advice of any other kind. All actions performed by us while providing you with the Services are solely based on your instructions and within our rights or authority under these Terms and Conditions. Nothing in these Terms and Conditions, or through your use of the Services, is intended to create a partnership, joint venture, or agency arrangement between you and Independent Reserve Singapore.
Taxes
You are solely responsible for determining the taxes which arise from your use of the Services and reporting and paying such taxes with the relevant tax authorities. Independent Reserve Singapore may be required by law to report information with respect to your transactions on the Platform to relevant authorities and you shall be solely responsible and accountable for any amounts due to such authorities. If we are required or instructed to pay taxes or duties on your behalf, you agree that we may deduct such sums as required from your Account balances, and we may, without liability, refuse to execute such payments where your Account hold insufficient balances. We may also be required to withhold or add taxes to your transaction if required by any applicable laws.
Assignment
You may not assign your rights, obligations, liabilities or obligations under these Terms and Conditions to any other party without our express consent, which may be withheld at our discretion. Notwithstanding this, Independent Reserve Singapore reserves the right to assign, transfer or novate its rights without restriction to any entity within the Independent Reserve Group or to any successor in interest of any business associated with us.
Third Parties
Entire Agreement
Severability
If any provision of these Terms and Conditions is found to be invalid or unenforceable, either in whole or in part, for any reason, the remaining terms shall continue in full force and read without the unenforceable part.
Enforcement of Rights
Our rights and remedies under these Terms and Conditions are cumulative and not exclusive of any rights or remedies provided by any other laws or agreements. Any failure or delays by us to enforce our rights or seek remedies under these Terms shall not be deemed a waiver of such right or remedy and any single or partial exercise of those rights or remedies shall not preclude us from any other exercise of our other rights and remedies under these Terms.
Language
Survival
Notwithstanding any termination or expiration of these Terms and Conditions, the provisions relating to termination of services, data protection, indemnities, service representations, limitation of liability, intellectual property, dispute resolution, and general terms shall survive and continue in full force and effect. The obligations under these surviving provisions shall remain binding indefinitely or for the duration specified therein, whichever is shorter.
"Account" refers to the fiat and cryptocurrency accounts provided by Independent Reserve Singapore in order for a user or sub-user to access and use the Platform and Services.
"Account Owner" means the individual or entity who is the main holder of the Account and not a sub-user.
"AMLCFT" refers to anti money laundering and countering the financing of terrorism.
"Autotrader" means our automatic trading service, which allows you to create automated trading strategies.
"Cryptocurrency, Cryptocurrencies or DPTs" refer to the digital payment tokens, coins, tokens, crypto, digital currency, or digital assets listed by us on our Platform from time to time.
"Corporate Account" refers to a business Account set up by a legal entity to access the Services.
"KYC" refers to our customer due diligence processes.
"MAS" refers to the Monetary Authority of Singapore
"Multi-user Account" refers to a Personal Account linked to Sub-Accounts.
"OTC trades" refers to over-the-counter trades facilitated by Independent Reserve Singapore’s trading desk which occur outside of the exchange.
"Party" may refer to a user or Independent Reserve Singapore interchangeably and “Parties” refers to both a user and Independent Reserve collectively.
"Platform" means the Website, mobile application or other API made available by us from time to time.
"Privacy Policy" means the privacy policy that we have available on our Website from time to time, accessible at https://www.independentreserve.com/sg/help/privacy-policy.
"Services" collectively refers to:
"Sub-user" means an individual person with a Sub-Account that has been granted limited access to an Account by an Account Owner.
"Sub-Account" means an account opened by a Secondary user under a Multi-user Account.
"Terms and Conditions" means these terms and conditions.
"Unallocated Deposit" refers to cryptocurrency and fiat deposits made to our bank accounts without a unique deposit code, or without information which would allow us to identify the intended account for allocation of the deposit despite reasonable attempts to ascertain the intended beneficiary Account.
"Unclaimed Funds" are remaining balances in closed accounts which have not been withdrawn by the user prior to account closure.
"Website" means the internet site at the address https://www.independentreserve.com/sg or any other site operated by us.
"Independent Reserve Singapore", "we", "us" or "our" means Independent Reserve SG PTE. LTD, UEN 201942383Z.
"Independent Reserve Group" refers to all parent, subsidiaries, and affiliates of Independent Reserve Singapore.
"you or your" means any user of the Platform, including a secondary user unless expressly provided otherwise.
本《条款和条件》适用于用户通过 Independent Reserve 新加坡有限公司（以下简称 Independent Reserve 新加坡公司）平台及应用程序使用相关服务的行为。
本文中 “我方”指 Independent Reserve 新加坡公司，“贵方”指使用我方平台及服务的用户。
账户类型
Independent Reserve 新加坡公司提供以下类型账户：
数码付款代币（DPT/加密货币）服务
我方保留以下权利:
Independent Reserve 新加坡公司对下列情形概不承担责任:
法币服务
交易柜台
AutoTrader
数码付款代币（DPT） 服务风险提示
根据新加坡金融管理局 (MAS) 要求，Independent Reserve 新加坡公司须向客户提供以下风险警示。
在贵方进行以下操作前:
加密货币风险提示
市场波动性
个人账户
要符合开通账户或作为子用户访问的资格，贵方必须满足以下条件：
为验证贵方身份，贵方同意：
设立子账户
企业账户
若开通企业账户，贵方需满足以下条件：
合格投资者
用户权限
个人账户
贵方可为账户指定以下类型的子用户:
每个多用户账户的子账户限制如下：
企业账户
每个企业账户的子账户限制如下:
子账户用户管理
账户透支
贵方账户中必须有足够的资金，以使用平台进行交易。若贵方账户透支，则贵方同意向我方支付：
若在我方发出要求后，贵方未支付尚未结清的透支金额，则：
权利与义务
在本平台注册和持有账户，即代表贵方同意：
开通子账户即表示贵方确认并同意：
账户变更
安全规范
使用限制
贵方在使用平台或服务时，严禁从事以下任何行为：
利用服务从事任何犯罪或受限制活动，包括但不限于：
出口管制与制裁
贵方使用本服务可能受出口限制、终端用户限制、经济制裁要求及反恐法律约束。使用本服务即表示贵方同意遵守所有适用法律、法规及要求。若通过本服务进行交易将导致违反适用法律或监管限制，则不得使用或进行相关交易。
信息核查要求
作为合规与风险管理措施组成部分，我方可能不定期要求贵方提供与平台交易性质及目的相关的补充信息或证明文件，包括但不限于财富来源及资金来源说明。若贵方未能配合提供相关信息，或未能提交令我方满意的文件，我方有权在不另行通知的情况下暂停服务或关闭贵方账户。
转出
贵方应全权负责确保：
贵方知晓并同意：
未分配资金与无人认领资金
交易暂缓
若发现贵方账户存在洗钱、恐怖融资、扩散融资、逃税、欺诈或诈骗活动风险时，我方有权暂停交易或限制贵方使用平台资金。
未授权交易
对于由贵方或任何关联子账户发起的所有交易，贵方需自行负责。
贵方同意，我方可在发出通知后，酌情终止贵方对平台、服务和账户的访问，包括但不限于：
采取任何技术或法律措施阻止贵方访问平台或服务，若我方合理认为贵方：
此外，我方可自行决定因任何原因暂停、管制、限制或终止贵方账户，包括但不限于：
企图利用平台、服务或账户进行任何非法活动，如：
就因贵方使用平台或服务而引起或与之相关的事件而产生的索赔而言，无论在合同还是侵权（包括疏忽）或其他方面，我方的金融负债总额在任何情况下均不得超过以下两项中的较低数额：
在法律允许的最大范围内，贵方特此同意赔偿我方及我方合伙人、高管、董事、员工和代理人因侵权、法规、衡平法、合同或我方因以下原因遭受的任何性质的诉讼、责任、成本、索赔、要求、损失、损害、诉讼或费用（损失）：
但若此类损失是我方疏忽或不当行为或不作为直接造成的，贵方将不承担任何责任。
双方关系
Independent Reserve 新加坡公司不作为贵方的受托人、经纪人、代理或以任何受托顾问身份行事。我方向贵方传达的任何信息均不应被视为、亦不得解释为投资、财务、法律、税务或其他任何形式的建议。我方在提供服务过程中实施的所有行为均完全基于贵方的指令，且仅限于本条款和条件所赋予的权利或权限范围内。本条款和条件的任何内容，或贵方对服务的使用，均无意在贵方与 Independent Reserve 新加坡公司之间建立合伙、合资或代理关系。
税务责任
贵方应自行确定因使用服务所产生的应纳税款并向相关税务机关申报及缴纳税费。根据法律规定，Independent Reserve 新加坡公司可能需要向主管部门申报贵方在我方平台的交易信息，所有应付税费均应由贵方独自承担。若我方被要求代扣代缴税费，贵方同意：我方有权直接从贵方账户余额中扣缴相应款项。当贵方账户余额不足时，我方有权拒绝执行扣缴且不承担任何责任。根据适用法律规定，我方可能对交易款项进行税款预扣或附加征收。
权利义务转让
未经我方明确同意（我方可自行决定是否同意），贵方不得将本条款和条件下的权利、义务或责任转让给任何第三方。尽管如此，Independent Reserve 新加坡公司保留无条件权利，可将本协议权利转让、转移或通过新合同更新给 Independent Reserve 集团内任何实体，或与我方业务相关的任何权益继承方。
第三方权益
完整协议
条款可分性
若本条款和条件的任何规定因任何原因被认定为全部或部分无效或不可执行，剩余条款应在剔除无效内容后继续有效执行。
权利行使
我方在本条款和条件项下的权利及救济具有累加性质，且不排除其他法律或协议赋予的任何权利或救济。我方延迟或未行使本协议权利及救济的行为，不得视为对该权利或救济的放弃。我方对某项权利或救济的部分行使，亦不妨碍我方继续行使本协议规定的其他权利或救济。
语言版本
条款存续
即使本条款和条件终止或到期，关于服务终止、数据保护、赔偿、服务声明、责任限制、知识产权、争议解决及通用条款的规定仍继续完全有效。这些存续条款项下的义务将持续具有约束力，其有效期以条款自身规定期限或无限期两者中较短者为准。
“账户 (Account)”指 Independent Reserve 新加坡公司提供的法币与加密货币账户，以便用户或子用户访问和使用平台及服务。
“账户拥有者”指账户的主要持有人（个人或实体），并非子用户。
“反洗钱反恐融资 (AMLCFT)”指反洗钱及打击恐怖主义融资。
“AutoTrader”指我方自动交易服务，允许贵方创建自动交易策略。
“加密货币/数码付款代币”指我方在平台不时列出的数码付款代币、货币、代币、加密货币、数字货币或数字资产。
“企业账户”指法律实体为使用服务而开设的商业账户。
“KYC”指我方的客户尽职调查。
“MAS”指新加坡金融管理局。
“多用户账户 (Multi-user Account)”指与子账户关联的个人账户。
“场外交易 (OTC trades)”指通过 Independent Reserve 新加坡公司交易柜台在交易所外进行的场外交易。
“一方”指用户或 Independent Reserve 新加坡公司，“双方” 指用户与 Independent Reserve 新加坡公司。
“平台”指我方提供的网站、手机 App 或其他 API。
“隐私政策”指我方在网站上不时更新的隐私政策，访问地址： https://www.independentreserve.com/sg/help/privacy-policy
“服务 (Services)”统指：
“子用户 (Sub-user)”指经账户拥有者授予账户有限访问权的子账户持有人。
“子账户(Sub-Account)”指次级用户在多用户账户下开设的账户。
“条款和条件 (Terms and Conditions)”指本条款和条件文件。
“未分配资金 (Unallocated Deposit)”指存入我方银行账户但未提供唯一存款代码，或虽经我方努力核查仍无法确定资金归属账户的加密货币及法币资金。
“无人认领资金 (Unclaimed Funds)”指账户关闭前用户未提取的剩余余额。
“网站 (Website)”指 https://www.independentreserve.com/sg 或我方运营的其他网站。
“我方 (Independent Reserve Singapore, we, us or our)”指 Independent Reserve 新加坡私人有限公司，机构识别号码 (UEN) 201942383Z。
“Independent Reserve 集团 (Independent Reserve Group)”指 Independent Reserve 新加坡公司及其所有母公司、子公司和关联公司。
“贵方 (you or your)”指平台的任何用户，包括次级用户，除非另有明确规定。
Eligibility and application
There are three types of Accounts:
To be eligible to open an Account with us, you must:
When applying for an Account, you must provide any information requested by us in order for us to provide complete access to the Platform and Services. You consent to your personal information being collected and used in accordance with the bitcoin.com.au Privacy Policy. In addition, for the purposes of verifying your identity, you consent to:
Changes
Use
Agency
FastTrack Account
Risks
There is also the risk that the regulatory landscape changes and any change may impact:
in some extreme cases, may mean:
Credit and Debit Card Transactions
PayPal Transactions
Appointment of secondary users
Any nominated secondary user must be:
Provided that your Account is fully verified, you may nominate a secondary user either:
Secondary user Types and Permissions
You are able to nominate an individual as one of the following three secondary user types on your Account:
Trader (Three different tiers of Trader are available):
Security Requirements
User Management
Multi-User Account Limits
Individual accounts:
Company accounts:
Secondary user Registration and Verification
No Change in Ownership or Obligations
Acknowledgement
You acknowledge and agree:
We are not responsible or liable for:
except to the extent that it is a direct result of our negligent or wrongful acts or omissions.
Rights
Obligations
By registering and holding an Account with us, you agree to:
not use the service to engage in any criminal or restricted activities, including but not limited to:
A trade may be made at:
Once the trade has been executed, any:
If we store some of your Cryptocurrency in smart contracts for on-chain staking protocols, then we may earn staking rewards for doing so. You acknowledge and agree that we are absolutely entitled to those staking rewards and that:
Transfer
You are solely responsible for ensuring that:
You must take precautions when withdrawing and storing your Cryptocurrency, especially when withdrawing from your Account to an overseas-based provider. We have prepared education articles on the dangers of withdrawing to overseas providers on our Protect your account and How to spot a Bitcoin scam pages. These articles are updated from time to time. You acknowledge and agree that:
Debit Balances
If at any time your Account has a debit balance, you agree to pay us:
If, after a demand is made by us, you have not made payment of the outstanding debit balance, then:
You agree that we may, by giving notice, in our sole discretion terminate your access to the Platform, Services and Account, including without limitation to:
take any technical or legal steps to keep you from accessing the Platform or Services if we are of the reasonable belief that you are:
Additionally, we may, at our complete discretion, suspend, restrict, limit or terminate your Account for any reason, including without limitation, where:
there are attempts to use the Platform, Service or Account to perform any illegal activities such as:
If there is a period of high market volatility, high volume trades, rapid movements or illiquidity in the market, the market rate in which you are able to buy, sell or trade Cryptocurrency may vary from the price indicated on our Platform. We are not liable for any price variation due to market volatility, market or technology disruptions, delays or any other matters caused by things that are outside of our control. You acknowledge and agree that we will process your transaction at the current price. In certain circumstances, we may decide not to execute a trade if the market rate significantly increases or decreases or in the event of a market disruption or an event which is outside of our control and, in such cases, we may cancel any order and return the funds to your Account. We will exercise reasonable care to notify you of these events and when you receive a notification you must check your Account and any pending or cancelled transactions.
Limitation on Liability
Our total aggregate financial liability in respect of claims based on events arising out of or in connection with your use of the Platform or Services, whether in contract or tort (including negligence) or otherwise, will in no circumstances exceed the lesser of either
Indemnity
To the maximum extent permitted by law, you hereby agree to indemnify us, and our partners, officers, directors, employees and agents against any action, liability, cost, claim, demand, loss, damage, proceeding or expense (Loss) of any nature arising under tort, statute, equity, contract or some other cause of action that we suffer as a result of:
but you will not be liable for any Loss to the extent such Loss is the direct result of our negligent or wrongful acts or omissions.
Treatment
Making a Claim for Unallocated Deposits
You are able to make a claim for the repayment of an Unallocated Deposit (less any accumulated fees) by contacting us through the support screen or by email support@bitcoin.com.au.
Trustee of Unallocated Deposits
The Unallocated Deposit will incur:
Terms
Recurring Buy Risk Disclosure Statement
When you use the bitcoin.com.au Platform, we will collect personal information about you and your secondary users. bitcoin.com.au’s Privacy Policy is available at https://bitcoin.com.au/help/privacy-policy/ and Privacy Collection Notice is available at https://bitcoin.com.au/help/privacy-collection-notice/
Forked Blockchain
Airdrop
We reserve the right to use our own discretion when deciding to support or not support any airdrop event. We may decide to provide any airdropped Cryptocurrency to you following an airdrop event. If we decide to provide any Cryptocurrency as part of an airdrop event, you may opt-out of receiving any of the Cryptocurrency that results from the airdrop event by contacting the support team. A secondary user is not able to provide any instructions in relation to opting-out of an airdrop event on your behalf.
Acknowledgement
You acknowledge and agree that we are not responsible or liable for:
We reserve the right to change, amend, modify, add or delete any of these Terms and Conditions, at any time, in an exercise of our sole discretion. These amendments, modifications, additions or deletions apply to your use of the Platform and Services as soon as they are displayed on the Platform (whether or not you are aware of those amendments, modifications, additions or deletions) and will be notified to you on the first log-in to your Account after the change has occurred. Your continued use of the Platform and Services following any changes to the Terms and Conditions signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms and Conditions.
You acknowledge and agree that:
"Account" means a FastTrack Account, and Standard Account and a Multi-user Account.
"Account Owner" means the individual or Entity who owns the Standard or Multi-User Account.
"App" means a mobile application made available by us that can be downloaded from the Apple App Store, Google Play Store or any other app store or market from time to time.
"Recurring Buy or Recurring Buys" means our automatic trading service, which allows you to create automated trading strategies.
"Cryptocurrency" means the coins, tokens, crypto, digital currency, or digital assets listed by us on our Platform from time to time.
"Entity" means one of the following:
"FastTrack Account" means a limited functionality account that allows you to deposit and trade on our Platform but not to withdraw from our Platform.
"FastTrack Information" means the information required for us to satisfy our anti-money laundering and counter-terrorism financing obligations that we request from you during your on-boarding.
"OTC Services" means any over-the-counter trading services we provide for Cryptocurrencies, which may be subject to additional terms and conditions.
"Platform" means the Website, App made available by us from time to time.
"Privacy Policy" means the privacy policy that we have available on our Website from time to time, accessible at https://bitcoin.com.au/help/privacy-policy/.
"Services" means:
"Standard Account" means an account that we have created to enable you to use the Platform.
"Secondary user" means an individual person that has been granted access to your Multi-user Account in accordance with clause 3 of these Terms and Conditions.
"Multi-user Account" means an account that we have created in accordance with clause 3 of these Terms and Conditions for a Multi-user.
"Secondary User Account" refers to the account created by a secondary user linked to a Multi-user Account by invitation of the Account Owner.
"Terms and Conditions" means these terms and conditions.
"Unallocated Cryptocurrency Deposit" means Cryptocurrency that:
"Unallocated Deposit" means Unallocated Cryptocurrency Deposits and Unallocated Fiat Deposits made into our Platform where no claim of ownership is made within a period of 18 months.
"Unallocated Fiat Deposit" means fiat currency that following the date of the deposit:
"Website" means the internet site at the domain https://www.bitcoin.com.au or any other site or operated by us.
"we, us or our" means Independent Reserve Pty. Ltd, trading as bitcoin.com.au, ABN 46 164 257 069.
"you or your" means any user of the Platform, including a secondary user unless expressly provided otherwise.
Leveraged trading is a process where you trade on “margin”, that is, buy investments (in this case cryptocurrency) using borrowed funds or sell investments using borrowed assets. If you use our leveraged trading service, you will need to provide a percentage of the trade as margin (your contribution) and we will advance to you the balance of the trade and will take security over the full amount of the trade. You can select different leverage ratios (2x to 5x), and the amount you can borrow will depend on the leverage ratio you choose.
Examples:
When you open a leveraged trade (which we call a ‘leveraged position’), your contributed margin is locked and you cannot buy, sell or transfer the assets in your account that we take as security for the leveraged trade until your leveraged position is closed or you return the loan. The security is either the assets you buy with the leveraged trade, or the assets you acquire as the result of making a sale using a leveraged trade. If the value of your security falls too far, we may make a “margin call”, that is, notify you that your margin percentage has fallen and your position is in danger of reaching the mandatory liquidation level, or being closed out by us. Once you receive a margin call, you can top up your position with additional collateral (which we will also lock), take action to close your position, or do nothing and run the risk of your position reaching mandatory liquidation or being closed by us. Leveraged trading is a sophisticated trading strategy, which can magnify your gains and losses. The higher the leverage ratio of each position, the more your gains and losses will be magnified. if you are not familiar with leveraged trading. If you are not familiar with leveraged trading please ensure you read our explanation of the leveraged trading service here.
Leveraged trading is subject to a range of risks. Please read the risk section below which outlines some of the risks that may be relevant to leveraged trading for cryptocurrency but is not intended to be an exhaustive list of all relevant risks. You should consider all the risks that may be relevant to leveraged trading for cryptocurrency and assess whether those risks are acceptable to you having regard to your financial circumstances and risk tolerance. If you are unsure, you should consider obtaining financial, tax or professional advice.
These terms and conditions will apply when you use our leveraged trading service.
To create a new position using leveraged trading, you must provide collateral to us in either fiat or cryptocurrency. Collateral is the percentage of the leveraged position that you contribute to the leveraged trade as security against the assets we advance you, and we take security against the full amount of the leveraged trade. The collateral must be held in your account and it will be allocated to a leveraged position (see below for more details). The amount of collateral you need to contribute will depend on the leverage ratio you select. Your account will specify what leverage ratios are available to you and the amount of collateral you need to contribute for a particular leverage ratio.
When creating a new position using leveraged trading, we will automatically reserve your collateral from your account. The asset we automatically reserve changes depending on whether you elect to open a leveraged buy or leveraged sell position.
When contributing additional collateral to one or more of your positions, you can choose to reserve either cryptocurrency or fiat to increase your margin percentage. Please note that when you choose to contribute cryptocurrency as collateral, the cryptocurrency you reserve must be the same cryptocurrency as your current open leveraged position. This also applies to fiat, when you choose to contribute fiat as collateral, the fiat you contribute must be the same fiat as your current open leveraged position.
If you are opening a leveraged buy, we will first use fiat in your account for your collateral contribution. If sufficient fiat is not available on your account to open the leveraged position, we will then use cryptocurrency for the remainder of your collateral contribution; or use cryptocurrency for your entire collateral contribution if your fiat balance is zero.
Example 1: You elect to open a new leveraged position to buy $30,000 of Bitcoin and select the 2x leverage ratio, and you only have a fiat balance of $15,000 in your account.
We will automatically reserve the fiat $15,000 (50% of $30,000) and then provide you fiat $15,000 and will then take security over the $30,000 of Bitcoin purchased when you open the leveraged position. The $30,000 of Bitcoin will be locked in your account until your leveraged position is closed.
Example 2: You elect to open a new leveraged position to buy $30,000 of Bitcoin and select the 3x leverage ratio, and you have a fiat balance of $5,000 in your account and $10,000 worth of Bitcoin on your account.
We will automatically reserve collateral in fiat of $5,000 and $5,000 worth of Bitcoin ($5,000 + $5,000 being 33.3% of $30,000) and then we will provide you fiat $20,000 and will then take security over the $30,000 of Bitcoin purchased when you open the leveraged position. The $30,000 of Bitcoin will be locked in your account until your leveraged position is closed.
Note: In this scenario, you cannot elect to use the $10,000 of Bitcoin as collateral when opening your position, we automatically use all available fiat first before using cryptocurrency as your collateral contribution for leveraged buys.
Example 3: You elect to open a new leveraged position to buy $30,000 of Bitcoin and select the 5x leverage ratio, and you have no available fiat balance in your account and $50,000 worth of Bitcoin in your account.
We will automatically reserve $6,000 worth of Bitcoin (20% of $30,000) and then we will provide you fiat $24,000 and will then take security over the $30,000 of Bitcoin used to open the leveraged position. The $30,000 of Bitcoin will be locked in your account until your leveraged position is closed.
If you are opening a leveraged sell, we will first use cryptocurrency in your account for your collateral contribution. If sufficient cryptocurrency is not available on your account to open the leveraged position, we will then use fiat for the remainder of your leveraged contribution or use fiat for your entire leveraged contribution if your cryptocurrency balance is zero.
Example 1: You elect to open a new leveraged position to sell 1 Bitcoin and select the 4x leverage ratio, and you have 2 Bitcoin on your account only.
We will automatically reserve 0.25 Bitcoin (25% of 1 Bitcoin) then provide you 0.75 Bitcoin and will then take security over the fiat sale proceeds of the Bitcoin sold when you open the leveraged position. The fiat sale proceeds will be locked in your account until your leveraged position is closed.
Example 2: You elect to open a new leveraged position to sell 1 Bitcoin and select the 2x leverage ratio, and you have 0.25 Bitcoin on your account and fiat of $50,000 on your account.
We will automatically reserve 0.25 Bitcoin and fiat to the value of 0.25 Bitcoin (0.25 Bitcoin + fiat value of 0.25 Bitcoin being 50% of 1 Bitcoin), and then we provide you 0.5 Bitcoin as a loan and will then take security over the fiat sale proceeds of the Bitcoin sold when you open the leveraged position. The fiat sale proceeds will be locked in your account until your leveraged position is closed.
Note: In this scenario, you cannot elect to use the $50,000 fiat as collateral when opening your position, we automatically use all available Bitcoin first before using fiat as your collateral contribution.
Example 3: You elect to open a new leveraged position to sell 1 Bitcoin and select the 5x leverage ratio, and you have no Bitcoin on your account and fiat $50,000 on your account.
We will automatically reserve fiat to the value of 0.2 Bitcoin (20% of 1 Bitcoin) and then we will provide you 0.8 Bitcoin and will then take security over the fiat sale proceeds of the Bitcoin sold when you open the leveraged position. The fiat sale proceeds will be locked in your account until your leveraged position is closed.
When you contribute collateral to your account, you must elect which leveraged position your collateral is to be applied to. We calculate the margin percentage of each leveraged position separately. We do not offset multiple leveraged positions on your account against one another.
So, while you can have multiple leveraged positions open at any one time, you must contribute collateral for each leveraged position individually and ensure each position has sufficient collateral contributed at all times.
When contributing additional collateral to one or more of your positions, you can choose to reserve either cryptocurrency or fiat to increase your margin percentage.
If you contribute fiat, your total margin value will be increased by the value of fiat you have elected to contribute. There is no fee to contribute additional fiat margin to your positions.
You may also contribute cryptocurrency to increase the value of your contributed margin. For a leveraged buy, your contributed cryptocurrency will increase your margin value by the fiat equivalent of the contributed cryptocurrency. For a leveraged sell, your contributed cryptocurrency will increase the total cryptocurrency reserved as margin against your position and increase your margin.
There is no fee to contribute additional cryptocurrency margin to your positions.
Please note that when you choose to contribute cryptocurrency as collateral, the cryptocurrency you contribute must be the same cryptocurrency as your current open leveraged position.
For example: If you have a leveraged position in Ethereum, the only cryptocurrency you can contribute as collateral is Ethereum. You will not be able to use Bitcoin, for example, as collateral for an Ethereum position.
You can contribute collateral to your account in fiat (AUD only) or cryptocurrency. All collateral must be in single fiat currency. E.g. if your leveraged position was in AUD, then your margin percentage will be calculated in AUD.
For cryptocurrency collateral contributions, the cryptocurrency valuation is based on the amount of fiat currency that would be generated if your cryptocurrency were to be sold using a market sell order at the time of the margin calculation. The valuation gives consideration to the current bids on the market and the available depth. Your cryptocurrency is not valued using the last traded price because this price is not necessarily an accurate representation of the value of your cryptocurrency should it need to be sold immediately to meet a margin call or mandatory liquidation.
You can at any time, elect to close any leveraged position you have open. To close your position, you navigate to the Position Details screen of your account and select the “Close Position” option. There are two ways you can close your position:
When you hold either a buy or sell leveraged position, we regularly calculate your margin percentage. This is important because if the margin percentage for a leveraged position falls below the required percentage, we make a “margin call” – that is, we ask you to make a contribution to your account for the leveraged position.
The margin percentage is calculated as your:
(Current position value minus Outstanding Loan Value minus accrued fees)
divided by:
Current value of your open leveraged position
The margin percentage is calculated as the percentage of collateral remaining against your open position value. The required percentage for a leveraged position will vary depending on the leverage ratio selected for the position. If we make a margin call, you will need to contribute additional collateral to your account to act as security for the leveraged position. Any additional contributions you make to your account for the leveraged position will be locked, If your margin percentage falls further, mandatory liquidation may be triggered. Refer below for more detail.
It is your sole responsibility and obligation to ensure your collateral for each leveraged position is above the required margin percentage to avoid margin calls and mandatory liquidation.
If you have multiple leveraged positions, each of your positions will have a separate margin percentage. We will not offset unrealised profits and unrealised losses across multiple leveraged positions. For both buy and sell positions, as the market price of the cryptocurrency fluctuates, your unrealised profit and loss will change. Unrealised profits are added to your collateral value and unrealised losses are subtracted from your collateral value.
Example 1: If your collateral was $10,000 and you selected 2x leverage ratio to buy $20,000 of Bitcoin, and the value of Bitcoin goes down, then your margin percentage will be less than 50%. Alternatively, if the value of Bitcoin goes up, then your margin percentage will be more than 50%.
Example 2: If your collateral was $10,000 and you selected 5x leverage ratio to buy $50,000 of Bitcoin, and the value of Bitcoin goes down, then your margin percentage will be less than 20%. Alternatively, if the value of Bitcoin goes up, then your margin percentage will be more than 20%.
All fees associated with opening and maintaining your open positions are subtracted from your collateral and will impact your margin percentage.
In calculating your margin percentage, we do not consider the value of any cryptocurrency or fiat in your account that is not contributed as collateral to a specific leveraged position. This is because these assets can be moved in and out of your account and collateral must be contributed to and reserved against your leveraged position(s).
It is your sole responsibility and obligation to contribute collateral to each leveraged position you hold and to ensure each position has sufficient collateral to avoid margin calls and mandatory liquidation.
Independent Reserve continually monitors the value of your leveraged positions and your margin percentage. If your margin percentage falls, you may be subject to either a margin call or mandatory liquidation. If any of your open leveraged positions reach the margin call or mandatory liquidation levels, then the leveraged position will be subject to the below conditions:
Margin call: Is reached when your margin percentage falls to or below 15% and is approaching the mandatory liquidation level, if action is not taken by you. A margin call indicates that your leveraged position has lost a majority of the contributed collateral from unrealised losses due to market movements and/or fees paid by you in relation to your open leveraged position. At margin call level, an email notification is sent to you and a warning is also displayed under the Leveraged Trading tab in the position history table after you log in.
When your leveraged position falls below 15% but has not fallen below the mandatory liquidation level (10%), that is when your leveraged position is considered to be in margin call. When your position is in margin call, you are approaching the mandatory liquidation level and should consider contributing additional collateral against the leveraged position to move your margin percentage above the 15% margin call threshold, or, close your leveraged position. Independent Reserve may elect to close your position to protect against further losses of your leveraged position at any time in its absolute discretion.
If your position is at or below the margin call level, you have the option to:
In extreme market conditions, it may not be possible for us to notify you of a margin call prior to your leveraged position reaching the mandatory liquidation level. We will notify you of a margin call on a best endeavours basis by email. It is your sole responsibility and obligation to continually monitor your leveraged positions and your margin percentages for those positions at all times. While we will endeavour to provide you with timely notifications, we provide this service for your convenience only and we are not liable for any loss or damage (including any consequential loss, indirect loss, loss of profit or economic loss) that you incur as a result of failing to receive or receiving a delayed a margin call notification.
The higher the leverage ratio of a leveraged position, the greater the change in margin percentage relative to the change in market price.
Mandatory liquidation: Is reached when your margin percentage falls below 10%.This margin percentage level is where we will close your leveraged position to prevent further losses. When your margin percentage falls below 10%, we will place a market buy (if your leveraged position was a sell) or market sell (if your leveraged position was a buy) of sufficient cryptocurrency to return your leveraged position to above mandatory liquidation levels, approximately 12.50%, margin at the time the order is placed.
If due to the current market price or market conditions, we are unable to execute a market buy or market sell to return your margin percentage above 12.50%, then we will fully close your leveraged position. All market orders placed to liquidate your leveraged position are subject to the current market depth and the prevailing market conditions. You acknowledge and agree upon liquidation of your leveraged position that your losses may not be limited to the value of the remaining collateral for your leveraged position. Standard trade commission fees apply to all liquidation trades executed by us.
Please note: Even if we execute a market buy or market sell to increase your margin percentage to approximately 12.50%, this is not a guarantee that additional actions will not be taken by us on your open leveraged position or that market conditions will not further deteriorate your margin percentage resulting in additional mandatory liquidation events occurring. In times of extreme market volatility, there may be multiple mandatory liquidations in quick succession.
Any remaining collateral for your leveraged position following the mandatory liquidation will be returned to your account. In extreme market conditions, closing of your leveraged position may result in losses greater than the total collateral contributed against the leveraged position. You are liable for any losses arising from your use of the leveraged trading facility including any losses incurred as a result of mandatory liquidation.
Your liability in respect of leveraged positions is not limited to the amount, if any, of any collateral provided. You are responsible and liable for paying us any deficit owing to us after a leveraged position is closed. If you fail to pay any deficit, we may:
If there are insufficient assets in your account to fully discharge the amount of a deficit, you understand and agree that you are immediately required to deposit fiat currency or cryptocurrency to the value of the deficit in order to discharge your obligations to us. We may lock your account and prevent you from making any further trades until you have fully discharged any deficit you owe us.
We will only include additional contributions of collateral against a specific leveraged position you hold after you have allocated the fiat or cryptocurrency to a specific leveraged position. Any fiat or cryptocurrency held on your Independent Reserve trading account will not automatically be considered as collateral or security for any leveraged positions. It is your responsibility to maintain the margin percentage of all of your open leveraged positions at all times.
If you choose to contribute additional collateral from your trading account to one of your leveraged positions, you acknowledge that there may be a minor delay between when you elect to contribute the collateral and when that collateral contribution is allocated to your leveraged position. In limited circumstances and times of extreme market movements, the leveraged position you are contributing additional collateral towards may reach the mandatory liquidation level before the contribution is allocated to your leveraged position due to the timing delay. We are not liable for any loss or damage (including consequential loss, indirect loss, loss of profit or economic loss) that you incur as a result of any timing delay between when you contribute additional collateral and when the additional collateral is allocated to a leveraged position.
If you choose to deposit additional fiat from your bank account to us to contribute additional collateral or to service a margin call, you acknowledge that the fiat transferred to us is subject to the normal processing times for fiat deposits. Fiat deposits are only available to transfer to your leveraged positions once they are cleared in your trading account. Fiat deposits being credited to your trading account are subject to normal processing times and are subject to delays from time to time. We are not liable for any loss or damage (including consequential loss, indirect loss, loss of profit or economic loss) that you incur as a result of any delay in you being able to contribute additional collateral to your leveraged positions as a result of any perceived or actual delay in processing a new fiat deposit.
If you choose to deposit additional cryptocurrency from your external wallet to us to contribute additional collateral or to service a margin call, you acknowledge that the cryptocurrency transferred to us is subject to the normal processing times for cryptocurrency deposits. Cryptocurrency deposits are only available to transfer to your leveraged positions once they are cleared in your trading account. Cryptocurrency deposits being credited to your trading account are subject to normal processing times and are subject to delays from time to time. We are not liable for any loss or damage (including consequential loss, indirect loss, loss of profit or economic loss) that you incur as a result of any delay in you being able to contribute additional collateral to your leveraged positions as a result of any perceived or actual delay in processing a new cryptocurrency deposit.
In addition to the normal trade commission fees, there are leveraged trading fees that apply to open leveraged positions. All fees for leveraged trading will be applied in AUD regardless of whether you have borrowed fiat (buy position) or cryptocurrency (sell position) to create your leveraged position. Even though your leveraged position may not be at the margin call or mandatory liquidation levels, you must always ensure there is sufficient collateral contributed against the leveraged position to cover all fees. You must always have available collateral contributed against all leveraged positions to cover the rollover fees or you risk us closing your leveraged position(s).
The fees for leveraged trading are:
Position open fee:
This fee is applied to the value we advance you for your leveraged position and it is charged at the time you create your new leveraged position.
Example: You elect to open a new leveraged position to leverage buy $30,000 of Bitcoin and select the 2x leverage ratio, and you use fiat of $15,000 for your collateral contribution and we provide you fiat $15,000. The position open fee is calculated using $15,000 as this is the value of fiat we have advanced to you.
Position close fee:
This fee is applied to the value we advance you for your leveraged position at the time it was created and it does not take into consideration the unrealised profits/losses on the position. It is charged at the time you fully close your open position..
Example: You have an open 3x leverage buy for $30,000 of Bitcoin; and you have an unrealised gain of $5,000, meaning your total position value is now $35,000. The position open fee is calculated using $20,000 as this is the value we advanced you.
Interest fee:
This fee is applied to the loan/borrowed value of your leveraged position while the position has an outstanding loan amount. The fee is charged only on the outstanding loan amount and is rounded down to the nearest cent. It is charged at the time you fully close your open position.
Mandatory liquidation fee:
This fee is applied to the value of the outstanding loan amount of your leveraged position at the time it is closed by us. This fee is applied only when your position is automatically liquidated or partially liquidated when your position margin falls below mandatory liquidation level. This fee is not charged when you close your position yourself or using triggers.
Fees are accrued against the profit/loss of your position:
All fees are calculated and accrued against the profit/loss of your position while it is open. They are charged against the position when the position is partially or fully closed.
| Fee Name | Fee Amount | Timing of Fee Payment |
|---|---|---|
| Position Open Fee | Percentage of the total opening loan amount. Currently free. | Accrued against profit/loss when you create a new open position, charged when the position is closed |
| Position Close Fee | Percentage of the total loan amount at the time of closing or partially liquidating the position. Currently free. | Applied when either you or we close an open position |
| Mandatory liquidation fee | 1% of the total loan amount at the time of closing or partially liquidating the position. | Applied when we close or partially close an open position because it has reached a mandatory liquidation level. |
| Interest Fee | 0.1% per day, accrued every 10 seconds. | Applied when your position is closed. |
If you have sufficient fiat or cryptocurrency in your account to create a new leveraged position, you can create a new leveraged position up to your applicable leveraged position limit. Different leveraged position limits apply to each fiat and cryptocurrency. Note: all limits apply to the size of the initial position, not the current value of your open position.
For example: Using 2x leverage buy, we advance you $1,000 to buy Bitcoin and you contribute $1,000 as collateral, your Bitcoin limit will be used. If the price of Bitcoin then goes up 10% and your leveraged position is showing an unrealised gain of $200. Your leveraged position is using only AUD$2,000 of your Bitcoin leveraged position limit, not AUD$2,200. This is because your limit does not change in response to unrealised profits and losses on your leveraged positions.
If you try to open a new leveraged position that will take you over your single cryptocurrency leveraged position limit, you will receive an error message advising of this.
There may be times when you have sufficient fiat or cryptocurrency in your account to open a new leveraged position and you have not reached your single cryptocurrency leveraged position limit, but you are unable to create any new open leveraged position. This is because we maintain a global leveraged position limit that is applied across all customers. This limit is in place to ensure the integrity and stability of the markets we offer to our customers.
If you try to open a new leveraged position after we have reached the global leveraged position limit, you will receive an error message advising of this.
We are not liable for any loss or damage (including consequential loss, indirect loss, loss of profit or economic loss) that you may incur as a result of not being able to create a new leveraged position due to any of the leveraged position limits being reached.
We may (in our absolute discretion) close out one or more of your open leveraged positions at the prevailing market price without further notice to you in the following circumstances:
For this purpose, an exceptional event includes:
In extreme market conditions, the lack of liquidity may result in your position being closed below the current market price. Any residual funds, cryptocurrency and collateral will be returned to your trading account. Importantly, your liability in respect of leveraged positions is not limited to the amount, if any, of any collateral provided. You are responsible and liable for paying us any deficit owing to us after a leveraged position is closed.
Excluding fees, the unrealised profit and loss of your open leveraged position is calculated as the difference between the current market value of your leveraged position and the value of the leveraged position at the time you opened the leveraged position.
Fees are always deducted from your unrealised profit and loss.
A leveraged buy position is where you borrow fiat to open a buy trade.
A leveraged sell position is where you borrow crypto to open a sell trade.
Leveraged Buy Position: (Leverage Value x Market Price) minus (Leverage Value x Position Opening Price) where the Leverage Value is a multiple of the collateral contributed. For example, if the collateral contributed is 50% based on the margin percentage, the Leverage Value is x2. The below examples are exclusive of any fees.
Example 1: You take a 5x leveraged buy position on 5 Bitcoin at $12,000 per Bitcoin.
The current price of Bitcoin has moved up and is now $12,350:
Your unrealised profit = (5 x $12,350) minus (5 x $12,000)
Your unrealised profit = $61,750 minus $60,000
Your unrealised profit = $1,750
Example 2: You take a 2x leveraged buy position on Bitcoin at $12,000 per Bitcoin.
The current price of Bitcoin has moved down and is now $11,500:
Your unrealised loss = (2 x $11,500) minus (2 x $12,000)
Your unrealised loss = $23,000 minus $24,000
Your unrealised loss = -$1,000
Leveraged Sell Position: (Leverage Value x Position Opening Price) minus (Leverage Value x Market Price) where the Leverage Value is a multiple of the collateral contributed. For example, if the collateral contributed is 50% based on the margin percentage, the Leverage Value is x2.
Example 3: You take a 4x leveraged sell position on Bitcoin at $15,000 per Bitcoin.
The current price of Bitcoin has moved down and is now $12,200:
Your unrealised profit = (4 x $15,000) minus (4 x $12,200)
Your unrealised profit = $60,000 minus $48,800
Your unrealised profit = $11,200
Example 4: You take a 3x leveraged sell position on Bitcoin at $15,000 per Bitcoin.
The current price of Bitcoin has moved up and is now $15,100:
Your unrealised loss = (3 x $15,000) minus (3 x $15,100)
Your unrealised loss = $45,000 minus $45,300
Your unrealised loss = -$300
We may (in our absolute discretion) change the margin percentage, margin call level, mandatory liquidation level, leveraged trading limits or any other terms that apply to our leveraged trading service and the change may apply to new leveraged positions as well as open leveraged positions. We will endeavour to provide you with as much notice as possible before implementing a change. However, we may provide very short notice of a change, or no notice at all, where an exceptional event occurs. For this purpose, an exceptional event includes:
We will notify you of any changes via your account and whether it only applies to new leveraged positions or if it will apply to any open leveraged positions. If we change any of the leveraged trading terms, this may impact your open leveraged positions, any unrealised gains or losses and leveraged trading limits. It is important that you regularly check your account to monitor your open leveraged positions and are aware of any changes to our leveraged trading service that may impact your positions.
We do not provide any form of advice to our customers in relation to our products or services. We may sometimes provide factual information and market commentary to you directly or via our website; and information about procedures, market conventions and guidance on how you can protect yourself against the potential risks involved in trading cryptocurrencies. This information should not be construed as advice and any decision you make to use our products or services is made by you based on your own research, inquiries and assessments.
We also do not provide advice regarding your personal tax affairs, regulatory filings, disclosures or legal matters that may arise as a result of you using our products and services. It is your responsibility to ensure you comply with applicable laws and regulations. If you are unsure, you should seek independent tax, financial or professional advice.
For more information about risks, please refer to clause 2.6 of our Terms and Conditions.
All the cryptocurrencies we make available for leveraged trading are not financial products and are unregulated. As these products are unregulated, we are not required to hold an Australian financial services licence and you will not have the benefit of any of the protections that apply to financial products under the Corporations Act 2001 (Cth).
Before we permit you to use Leveraged Trading, we require you to read and understand this Risk Disclosure Statement, the Leveraged Trading terms and conditions and to pass a suitability test to ensure you have been provided with the appropriate information to make a decision as to whether leveraged trading products are suitable for you. The suitability test is a tool that you can use to make a self-assessment as to whether leveraged trading is suitable for you and it is your sole responsibility to understand the risks involved with the leveraged trading product. By providing you with access to the suitability test, we are not providing you with any opinion or recommendation about whether leveraged trading is suitable for you.
The trading or holding of cryptocurrencies involves significant risk. Prices can and do fluctuate on any given day. Due to such price fluctuations, you may rapidly increase or lose value in your assets at any given moment. Cryptocurrency is subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading any products we offer.
Using the Leveraged Trading product carries a high degree of risk because the leverage means that a relatively small movement in underlying prices of cryptocurrency can lead to a proportionately larger movement in the value of your leveraged position. This can work against you as well as for you. There is a high risk of losing (and making) money quickly using leverage. The higher the leverage ratio you select, the greater impact any market movements may have on your leveraged position. Trading using 5x leverage carries a significantly higher degree of risk than trading using 2x leverage.
Due to market conditions (please refer to the "General Trading Risks" section for more details) the use of Stop Loss orders will not guarantee that your losses (or profits) are capped at that level. Extreme volatility and 'gapping' may mean that after the stop trigger is reached, the price achieved from the set limits may not be possible and your losses (profits) may continue.
Similarly, if your leveraged position reaches a point where mandatory liquidation is triggered, we cannot guarantee that your leveraged position will be closed at the mandatory liquidation level. Prevailing market conditions at the time of the liquidation may mean that your leveraged position is closed below the mandatory liquidation level. In extreme circumstances, when closing your leveraged position, you may end up in an overall loss position and will be required to provide additional collateral to make up the loss amount on your position.
It is imperative that you monitor all of your leveraged positions closely. It is your sole responsibility and obligation to monitor all your leveraged positions. While you have any open leveraged positions, you should regularly access your trading account to actively monitor all your leveraged positions. Due to the speed that margin levels can change with higher leverage ratios, you should consider carefully how equipped you are to monitor markets and react while having higher leverage ratio positions open.
It is important that you understand the risks associated with trading in cryptocurrencies because fluctuations in the price of cryptocurrencies can and do affect the value of your leveraged positions. Please refer to clause 2.6 of our Terms and Conditions for more details of the risks associated with cryptocurrencies.
The value of your leveraged positions can go down as well as up and, in extreme circumstances, you may end up with less than you originally invested. The higher the leverage ratio you select, the greater impact any market movements may have on your leveraged position.
Movements in the price of cryptocurrency markets can be volatile and unpredictable. This volatility will have a direct impact on the profit and loss of your leveraged trading positions. You should be familiar with the volatility of the market and assign an appropriate Stop Loss and Take Profit order level and assign collateral to maintain your leveraged position
Gapping in one or more markets is a sudden shift in the price of an underlying market from one level to another. Gapping in cryptocurrency markets is generally experienced more frequently than with traditional financial markets (such as ASX-listed shares). Cryptocurrencies trade 24 hours a day and a gapping event can happen at any time.
When a market gaps, it can have a large impact on the value of your leveraged positions and can cause unexpected losses, where for example: The market gaps past your Stop Loss or Stop Loss trigger causing your position to be closed at a greater loss than if the Stop Loss was executed at the price or PnL Value you assigned. It is for this reason that all Stop Loss and Take Profit triggers are offered on a best endeavours basis and we cannot guarantee that your position will be closed at the Stop Loss price or PnL level. You are liable for any losses beyond a set Stop Loss order (and are entitled to keep profits). Stop Loss or Take Profit orders will not always protect you against the risk of gapping.
We operate an open order book exchange and, as a result, we cannot guarantee liquidity at any price level for any cryptocurrencies. Market conditions can change significantly in a very short period of time. If you attempt to close a leveraged position, you may not be able to do so at or close to the last traded price if there is a lack of liquidity. Under certain trading conditions, it may be difficult or impossible to close your leveraged position.
In Australia, cryptocurrency exchanges are only subject to anti-money laundering and terrorism financing requirements, unless the exchange offers trades in cryptocurrencies that are regulated financial products There is a risk that a change in laws and regulations will materially impact the products we offer. A change in laws or regulations made by the government or a regulatory body can increase the costs of offering our services, require additional disclosures to our customers, reduce the attractiveness of our products and, in some extreme cases, mean we need to withdraw the product from the market.
Leveraged trading is a process where you trade on “margin” by buying and selling cryptocurrency using borrowed assets. If you use our leveraged trading service, you will need to provide a percentage of the trade as margin (your contribution) and we will advance to you the balance of the trade and will take security over the full amount of the trade. You can select different leverage ratios (2x to 5x), and the amount you can borrow will depend on the leverage ratio you choose.
Examples:
When you open a leveraged trade (which we call a ‘leveraged position’), your contributed margin is locked and you cannot buy, sell or transfer the assets in your account that we take as security for the leveraged trade until your leveraged position is closed or you return the loan.
The security is either the assets you buy with the leveraged trade, or the assets you acquire as the result of making a sale using a leveraged trade. If the value of your security falls too far, we may make a “margin call”, that is, notify you that your margin percentage has fallen and your position is in danger of reaching the mandatory liquidation level, or being closed out by us. Once you receive a margin call, you can top up your position with additional collateral (which we will also lock), take action to close your position, or do nothing and run the risk of your position reaching mandatory liquidation or being closed by us.
Leveraged trading is a sophisticated trading strategy, which can magnify your gains and losses. The higher the leverage ratio of each position, the more your gains and losses will be magnified. if you are not familiar with leveraged trading. If you are not familiar with leveraged trading please ensure you read our explanation of the leveraged trading service here.
Leveraged trading is subject to a range of risks. Please read the risk section below which outlines some of the risks that may be relevant to leveraged trading for cryptocurrency but is not intended to be an exhaustive list of all relevant risks. You should consider all the risks that may be relevant to leveraged trading for cryptocurrency and assess whether those risks are acceptable to you having regard to your financial circumstances and risk tolerance. If you are unsure, you should consider obtaining financial, tax or professional advice.
These terms and conditions will apply when you use our leveraged trading service and must be read alongside our Terms and Conditions.
It is important that you understand the risks associated with trading in cryptocurrencies because fluctuations in the price of cryptocurrencies can and do affect the value of your leveraged positions. Please refer to clause 2.6 of our Terms and Conditions for more details of the risks associated with cryptocurrencies.
We do not provide any form of advice to our customers in relation to our products or services. We may sometimes provide factual information and market commentary to you directly or via our website; and information about procedures, market conventions and guidance on how you can protect yourself against the potential risks involved in trading cryptocurrencies. This information should not be construed as advice and any decision you make to use our products or services is made by you based on your own research, inquiries and assessments.
We also do not provide advice regarding your personal tax affairs, regulatory filings, disclosures or legal matters that may arise as a result of you using our products and services. It is your responsibility to ensure you comply with applicable laws and regulations. If you are unsure, you should seek independent tax, financial or professional advice.
All the cryptocurrencies we make available for leveraged trading are not financial products and are unregulated. As these products are unregulated, funds deposited for leverage trading will not be subject to safeguarding.
Before we permit you to use Leveraged Trading, we require you to read and understand this Risk Disclosure Statement, these Leveraged Trading terms and conditions, and to qualify as an Accredited Investor to ensure you have been provided with the appropriate information to make a decision as to whether leveraged trading products are suitable for you.
The trading or holding of cryptocurrencies involves significant risk. Prices can and do fluctuate on any given day. Due to such price fluctuations, you may rapidly increase or lose value in your assets at any given moment. Cryptocurrency is subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading any products we offer.
Using the Leveraged Trading product carries a high degree of risk because the leverage means that a relatively small movement in underlying prices of cryptocurrency can lead to a proportionately larger movement in the value of your leveraged position. This can work against you as well as for you. There is a high risk of losing (and making) money quickly using leverage. The higher the leverage ratio you select, the greater impact any market movements may have on your leveraged position. Trading using 5x leverage carries a significantly higher degree of risk than trading using 2x leverage.
Depending on market conditions, the use of Stop Loss orders will not guarantee that your losses (or profits) are capped at that level. Extreme volatility and 'gapping' may mean that after the stop trigger is reached, the price achieved from the set limits may not be possible and your losses (or profits) may continue.
Similarly, if your leveraged position reaches a point where mandatory liquidation is triggered, we cannot guarantee that your leveraged position will be closed at the mandatory liquidation level. Prevailing market conditions at the time of the liquidation may mean that your leveraged position is closed below the mandatory liquidation level. In extreme circumstances, when closing your leveraged position, you may end up in an overall loss position and will be required to provide additional collateral to make up the loss amount on your position.
It is imperative that you monitor all of your leveraged positions closely. It is your sole responsibility and obligation to monitor all your leveraged positions. While you have any open leveraged positions, you should regularly access your trading account to actively monitor all your leveraged positions. Due to the speed that margin levels can change with higher leverage ratios, you should consider carefully how equipped you are to monitor markets and react while having higher leverage ratio positions open.
The value of your leveraged positions can go down as well as up and, in extreme circumstances, you may end up with less than you originally invested. The higher the leverage ratio you select, the greater impact any market movements may have on your leveraged position.
Movements in the price of cryptocurrency markets can be volatile and unpredictable. This volatility will have a direct impact on the profit and loss of your leveraged trading positions. You should be familiar with the volatility of the market and assign an appropriate Stop Loss and Take Profit order level and assign collateral to maintain your leveraged position.
Gapping in one or more markets is a sudden shift in the price of an underlying market from one level to another. Gapping in cryptocurrency markets is generally experienced more frequently than with traditional financial markets (such as SGX-listed shares). Cryptocurrencies trade 24 hours a day and a gapping event can happen at any time.
When a market gaps, it can have a large impact on the value of your leveraged positions and can cause unexpected losses, where for example, the market gaps past your Stop Loss or Stop Loss trigger causing your position to be closed at a greater loss than if the Stop Loss was executed at the price or PnL Value you assigned.
It is for this reason that all Stop Loss and Take Profit triggers are offered on a best endeavours basis and we cannot guarantee that your position will be closed at the Stop Loss price or PnL level. You are liable for any losses beyond a set Stop Loss order (and are entitled to keep profits). Stop Loss or Take Profit orders will not always protect you against the risk of gapping.
We operate an open order book exchange and, as a result, we cannot guarantee liquidity at any price level for any cryptocurrencies. Market conditions can change significantly in a very short period of time. If you attempt to close a leveraged position, you may not be able to do so at or close to the last traded price if there is a lack of liquidity. Under certain trading conditions, it may be difficult or impossible to close your leveraged position.
There may be circumstances where your collateral deposits are not instantaneous due to your account transaction limits being hit, a mismatch in bank account details or other reasons. In the event that you already have open leveraged positions and are depositing to contribute additional collateral, there is a risk that fluctuations in price may occur before your collateral is posted, causing your position to be liquidated automatically. You must always ensure that your deposits come from your own bank accounts (if fiat) or whitelisted addresses. You solely bear the risk and responsibility for any delays in the crediting of your account caused by discrepancies in your deposit details, which result in the liquidation or forced closure of your position.
In Singapore, leveraged trading in cryptocurrencies is not regulated by the Monetary Authority of Singapore. There is a risk that a change in laws and regulations will materially impact the products we offer. A change in laws or regulations made by the government or a regulatory body can increase the costs of offering our services, require additional disclosures to our customers, reduce the attractiveness of our products and, in some extreme cases, mean we need to withdraw the product from the market.
Leveraged trading is only available to Corporate Accredited Investors. To qualify as an Accredited Investor, you are required to opt-in by completing this form and submitting it with the required supporting documentation. Acceptance as an Accredited Investor is subject to you meeting all the relevant criteria as defined under section 4A of the Securities and Futures Act and the submission of an opt-in application does not guarantee acceptance.
If you lose or fail to maintain your Accredited Investor status while holding leveraged trade positions, we reserve the right, at our sole discretion, to force close any or all of your open positions. This action may be taken without prior notice to you, in order to mitigate potential risks associated with your reduced financial qualifications and to ensure compliance with regulatory requirements. Independent Reserve shall not be held liable for any losses, damages, or claims arising from such forced closure of positions.
You agree to maintain sufficient collateral in your Independent Reserve account as required under the Leveraged Calculation Methodology.
You agree that Independent Reserve cannot guarantee that a stop loss will limit your losses to the value of your collateral.
To create a new position using leveraged trading, you must provide collateral to us in either fiat or cryptocurrency. Collateral is the percentage of the leveraged position that you contribute to the leveraged trade as security against the assets we advance you, and we take security against the full amount of the leveraged trade.
The collateral must be held in your account and it will be allocated to a leveraged position (see below for more details). The amount of collateral you need to contribute will depend on the leverage ratio you select. Your account will specify what leverage ratios are available to you and the amount of collateral you need to contribute for a particular leverage ratio.
When creating a new position using leveraged trading, we will automatically reserve your collateral from your account. The asset we automatically reserve changes depending on whether you elect to open a leveraged buy or leveraged sell position.
When contributing additional collateral to one or more of your positions, you can choose to reserve either cryptocurrency or fiat to increase your margin percentage. Please note that when you choose to contribute cryptocurrency as collateral, the cryptocurrency you reserve must be the same cryptocurrency as your current open leveraged position. This also applies to fiat, when you choose to contribute fiat as collateral, the fiat you contribute must be the same fiat as your current open leveraged position.
If you are opening a leveraged buy, we will first use fiat in your account for your collateral contribution. If sufficient fiat is not available on your account to open the leveraged position, we will then use cryptocurrency for the remainder of your collateral contribution; or use cryptocurrency for your entire collateral contribution if your fiat balance is zero.
Examples (ignoring any fees)
Example 1: You elect to open a new leveraged position to buy $30,000 of Bitcoin and select the 2x leverage ratio, and you only have a fiat balance of $15,000 in your account.
We will automatically reserve the fiat $15,000 (50% of $30,000) and then provide you fiat $15,000 and will then take security over the $30,000 of Bitcoin purchased when you open the leveraged position. The $30,000 of Bitcoin will be locked in your account until your leveraged position is closed.
Example 2: You elect to open a new leveraged position to buy $30,000 of Bitcoin and select the 3x leverage ratio, and you have a fiat balance of $5,000 in your account and $10,000 worth of Bitcoin on your account.
We will automatically reserve collateral in fiat of $5,000 and $5,000 worth of Bitcoin ($5,000 + $5,000 being 33.3% of $30,000) and then we will provide you fiat $20,000 and will then take security over the $30,000 of Bitcoin purchased when you open the leveraged position. The $30,000 of Bitcoin will be locked in your account until your leveraged position is closed.
Note: In this scenario, you cannot elect to use the $10,000 of Bitcoin as collateral when opening your position, we automatically use all available fiat first before using cryptocurrency as your collateral contribution for leveraged buys.
Example 3: You elect to open a new leveraged position to buy $30,000 of Bitcoin and select the 5x leverage ratio, and you have no available fiat balance in your account and $50,000 worth of Bitcoin in your account.
We will automatically reserve $6,000 worth of Bitcoin (20% of $30,000) and then we will provide you fiat $24,000 and will then take security over the $30,000 of Bitcoin used to open the leveraged position. The $30,000 of Bitcoin will be locked in your account until your leveraged position is closed.
If you are opening a leveraged sell, we will first use cryptocurrency in your account for your collateral contribution. If sufficient cryptocurrency is not available on your account to open the leveraged position, we will then use fiat for the remainder of your leveraged contribution or use fiat for your entire leveraged contribution if your cryptocurrency balance is zero.
Examples (ignoring any fees)
Example 1: You elect to open a new leveraged position to sell 1 Bitcoin and select the 4x leverage ratio, and you have 2 Bitcoin on your account only.
We will automatically reserve 0.25 Bitcoin (25% of 1 Bitcoin) then provide you 0.75 Bitcoin and will then take security over the fiat sale proceeds of the Bitcoin sold when you open the leveraged position. The fiat sale proceeds will be locked in your account until your leveraged position is closed.
Example 2: You elect to open a new leveraged position to sell 1 Bitcoin and select the 2x leverage ratio, and you have 0.25 Bitcoin on your account and fiat of $50,000 on your account.
We will automatically reserve 0.25 Bitcoin and fiat to the value of 0.25 Bitcoin (0.25 Bitcoin + fiat value of 0.25 Bitcoin being 50% of 1 Bitcoin), and then we provide you 0.5 Bitcoin as a loan and will then take security over the fiat sale proceeds of the Bitcoin sold when you open the leveraged position. The fiat sale proceeds will be locked in your account until your leveraged position is closed.
Note: In this scenario, you cannot elect to use the $50,000 fiat as collateral when opening your position, we automatically use all available Bitcoin first before using fiat as your collateral contribution.
Example 3: You elect to open a new leveraged position to sell 1 Bitcoin and select the 5x leverage ratio, and you have no Bitcoin on your account and fiat $50,000 on your account.
We will automatically reserve fiat to the value of 0.2 Bitcoin (20% of 1 Bitcoin) and then we will provide you 0.8 Bitcoin and will then take security over the fiat sale proceeds of the Bitcoin sold when you open the leveraged position. The fiat sale proceeds will be locked in your account until your leveraged position is closed.
When you contribute collateral to your account, you must elect which leveraged position your collateral is to be applied to. We calculate the margin percentage of each leveraged position separately. We do not offset multiple leveraged positions on your account against one another.
So, while you can have multiple leveraged positions open at any one time, you must contribute collateral for each leveraged position individually and ensure each position has sufficient collateral contributed at all times.
When contributing additional collateral to one or more of your positions, you can choose to reserve either cryptocurrency or fiat to increase your margin percentage.
If you contribute fiat, your total margin value will be increased by the value of fiat you have elected to contribute. There is no fee to contribute additional fiat margin to your positions.
You may also contribute cryptocurrency to increase the value of your contributed margin. For a leveraged buy, your contributed cryptocurrency will increase your margin value by the fiat equivalent of the contributed cryptocurrency. For a leveraged sell, your contributed cryptocurrency will increase the total cryptocurrency reserved as margin against your position and increase your margin.
There is no fee to contribute additional cryptocurrency margin to your positions.
Please note that when you choose to contribute cryptocurrency as collateral, the cryptocurrency you contribute must be the same cryptocurrency as your current open leveraged position.
For example: If you have a leveraged position in Ethereum, the only cryptocurrency you can contribute as collateral is Ethereum. You will not be able to use Bitcoin, for example, as collateral for an Ethereum position.
You can contribute collateral to your account in fiat (SGD only) or cryptocurrency. All collateral must be in single fiat currency. E.g. if your leveraged position was in SGD, then your margin percentage will be calculated in SGD.
For cryptocurrency collateral contributions, the cryptocurrency valuation is based on the amount of fiat currency that would be generated if your cryptocurrency were to be sold using a market sell order at the time of the margin calculation. The valuation gives consideration to the current bids on the market and the available depth. Your cryptocurrency is not valued using the last traded price because this price is not necessarily an accurate representation of the value of your cryptocurrency should it need to be sold immediately to meet a margin call or mandatory liquidation.
You can at any time, elect to close any leveraged position you have open. To close your position, you navigate to the Position Details screen of your account and select the “Close Position” option. There are two ways you can close your position:
Close at the current market price;
Close by returning the outstanding loan amount (including any accumulated fees)
When you hold either a buy or sell leveraged position, we regularly calculate your margin percentage. This is important because if the margin percentage for a leveraged position falls below the required percentage, we make a “margin call” – that is, we ask you to make a contribution to your account for the leveraged position.
The margin percentage is calculated as your:
(Current position value minus Outstanding Loan Value minus accrued fees)
divided by:
Current value of your open leveraged position
The margin percentage is calculated as the percentage of collateral remaining against your open position value. The required percentage for a leveraged position will vary depending on the leverage ratio selected for the position. If we make a margin call, you will need to contribute additional collateral to your account to act as security for the leveraged position. Any additional contributions you make to your account for the leveraged position will be locked, If your margin percentage falls further, mandatory liquidation may be triggered. Refer below for more detail.
It is your sole responsibility and obligation to ensure your collateral for each leveraged position is above the required margin percentage to avoid margin calls and mandatory liquidation.
If you have multiple leveraged positions, each of your positions will have a separate margin percentage. We will not offset unrealised profits and unrealised losses across multiple leveraged positions. For both buy and sell positions, as the market price of the cryptocurrency fluctuates, your unrealised profit and loss will change. Unrealised profits are added to your collateral value and unrealised losses are subtracted from your collateral value.
Example 1: If your collateral was $10,000 and you selected 2x leverage ratio to buy $20,000 of Bitcoin, and the value of Bitcoin goes down, then your margin percentage will be less than 50%. Alternatively, if the value of Bitcoin goes up, then your margin percentage will be more than 50%.
Example 2: If your collateral was $10,000 and you selected 5x leverage ratio to buy $50,000 of Bitcoin, and the value of Bitcoin goes down, then your margin percentage will be less than 20%. Alternatively, if the value of Bitcoin goes up, then your margin percentage will be more than 20%.
All fees associated with opening and maintaining your open positions are subtracted from your collateral and will impact your margin percentage.
In calculating your margin percentage, we do not consider the value of any cryptocurrency or fiat in your account that is not contributed as collateral to a specific leveraged position. This is because these assets can be moved in and out of your account and collateral must be contributed to and reserved against your leveraged position(s).
It is your sole responsibility and obligation to contribute collateral to each leveraged position you hold and to ensure each position has sufficient collateral to avoid margin calls and mandatory liquidation.
Independent Reserve continually monitors the value of your leveraged positions and your margin percentage. If your margin percentage falls, you may be subject to either a margin call or mandatory liquidation. If any of your open leveraged positions reach the margin call or mandatory liquidation levels, then the leveraged position will be subject to the below conditions:
Margin call: Is reached when your margin percentage falls to or below 15% and is approaching the mandatory liquidation level, if action is not taken by you. A margin call indicates that your leveraged position has lost a majority of the contributed collateral from unrealised losses due to market movements and/or fees paid by you in relation to your open leveraged position. At margin call level, an email notification is sent to you and a warning is also displayed under the Leveraged Trading tab in the position history table after you log in.
When your leveraged position falls below 15% but has not fallen below the mandatory liquidation level (10%), that is when your leveraged position is considered to be in margin call. When your position is in margin call, you are approaching the mandatory liquidation level and should consider contributing additional collateral against the leveraged position to move your margin percentage above the 15% margin call threshold, or, close your leveraged position. Independent Reserve may elect to close your position to protect against further losses of your leveraged position at any time in its absolute discretion.
If your position is at or below the margin call level, you have the option to:
In extreme market conditions, it may not be possible for us to notify you of a margin call prior to your leveraged position reaching the mandatory liquidation level. We will notify you of a margin call on a best endeavours basis by email. It is your sole responsibility and obligation to continually monitor your leveraged positions and your margin percentages for those positions at all times. While we will endeavour to provide you with timely notifications, we provide this service for your convenience only and we are not liable for any loss or damage (including any consequential loss, indirect loss, loss of profit or economic loss) that you incur as a result of failing to receive or receiving a delayed a margin call notification.
The higher the leverage ratio of a leveraged position, the greater the change in margin percentage relative to the change in market price.
Mandatory liquidation: Is reached when your margin percentage falls below 10%.This margin percentage level is where we will close your leveraged position to prevent further losses. When your margin percentage falls below 10%, we will place a market buy (if your leveraged position was a sell) or market sell (if your leveraged position was a buy) of sufficient cryptocurrency to return your leveraged position to above mandatory liquidation levels, approximately 12.50%, margin at the time the order is placed.
If due to the current market price or market conditions, we are unable to execute a market buy or market sell to return your margin percentage above 12.50%, then we will fully close your leveraged position. All market orders placed to liquidate your leveraged position are subject to the current market depth and the prevailing market conditions. You acknowledge and agree upon liquidation of your leveraged position that your losses may not be limited to the value of the remaining collateral for your leveraged position. Standard trade commission fees apply to all liquidation trades executed by us.
Please note: Even if we execute a market buy or market sell to increase your margin percentage to approximately 12.50%, this is not a guarantee that additional actions will not be taken by us on your open leveraged position or that market conditions will not further deteriorate your margin percentage resulting in additional mandatory liquidation events occurring. In times of extreme market volatility, there may be multiple mandatory liquidations in quick succession.
Any remaining collateral for your leveraged position following the mandatory liquidation will be returned to your account. In extreme market conditions, closing of your leveraged position may result in losses greater than the total collateral contributed against the leveraged position. You are liable for any losses arising from your use of the leveraged trading facility including any losses incurred as a result of mandatory liquidation.
Your liability in respect of leveraged positions is not limited to the amount, if any, of any collateral provided. You are responsible and liable for paying us any deficit owing to us after a leveraged position is closed. If you fail to pay any deficit, we may:
If there are insufficient assets in your account to fully discharge the amount of a deficit, you understand and agree that you are immediately required to deposit fiat currency or cryptocurrency to the value of the deficit in order to discharge your obligations to us. We may lock your account and prevent you from making any further trades until you have fully discharged any deficit you owe us.
We will only include additional contributions of collateral against a specific leveraged position you hold after you have allocated the fiat or cryptocurrency to a specific leveraged position. Any fiat or cryptocurrency held on your Independent Reserve trading account will not automatically be considered as collateral or security for any leveraged positions. It is your responsibility to maintain the margin percentage of all of your open leveraged positions at all times.
If you choose to contribute additional collateral from your trading account to one of your leveraged positions, you acknowledge that there may be a minor delay between when you elect to contribute the collateral and when that collateral contribution is allocated to your leveraged position. In limited circumstances and times of extreme market movements, the leveraged position you are contributing additional collateral towards may reach the mandatory liquidation level before the contribution is allocated to your leveraged position due to the timing delay. We are not liable for any loss or damage (including consequential loss, indirect loss, loss of profit or economic loss) that you incur as a result of any timing delay between when you contribute additional collateral and when the additional collateral is allocated to a leveraged position.
If you choose to deposit additional fiat from your bank account to us to contribute additional collateral or to service a margin call, you acknowledge that the fiat transferred to us is subject to the normal processing times for fiat deposits. Fiat deposits are only available to transfer to your leveraged positions once they are cleared in your trading account. Fiat deposits being credited to your trading account are subject to normal processing times and are subject to delays from time to time. We are not liable for any loss or damage (including consequential loss, indirect loss, loss of profit or economic loss) that you incur as a result of any delay in you being able to contribute additional collateral to your leveraged positions as a result of any perceived or actual delay in processing a new fiat deposit.
If you choose to deposit additional cryptocurrency from your external wallet to us to contribute additional collateral or to service a margin call, you acknowledge that the cryptocurrency transferred to us is subject to the normal processing times for cryptocurrency deposits. Cryptocurrency deposits are only available to transfer to your leveraged positions once they are cleared in your trading account.
Cryptocurrency deposits being credited to your trading account are subject to normal processing times and are subject to delays from time to time. We are not liable for any loss or damage (including consequential loss, indirect loss, loss of profit or economic loss) that you incur as a result of any delay in you being able to contribute additional collateral to your leveraged positions as a result of any perceived or actual delay in processing a new cryptocurrency deposit.
In addition to the normal trade commission fees, there are leveraged trading fees that apply to open leveraged positions. All fees for leveraged trading will be applied in SGD/USD regardless of whether you have borrowed fiat (buy position) or cryptocurrency (sell position) to create your leveraged position. Even though your leveraged position may not be at the margin call or mandatory liquidation levels, you must always ensure there is sufficient collateral contributed against the leveraged position to cover all fees. You must always have available collateral contributed against all leveraged positions to cover the rollover fees or you risk us closing your leveraged position(s).
The fees for leveraged trading are:
Position open fee:
This fee is applied to the value we advance you for your leveraged position and it is charged at the time you create your new leveraged position.
Example: You elect to open a new leveraged position to leverage buy $30,000 of Bitcoin and select the 2x leverage ratio, and you use fiat of $15,000 for your collateral contribution and we provide you fiat $15,000. The position open fee is calculated using $15,000 as this is the value of fiat we have advanced to you.
Position close fee:
This fee is applied to the value we advance you for your leveraged position at the time it was created and it does not take into consideration the unrealised profits/losses on the position. It is charged at the time you fully close your open position.
Example: You have an open 3x leverage buy for $30,000 of Bitcoin; and you have an unrealised gain of $5,000, meaning your total position value is now $35,000. The position open fee is calculated using $20,000 as this is the value we advanced you.
Interest fee:
This fee is applied to the loan/borrowed value of your leveraged position while the position has an outstanding loan amount. The fee is charged only on the outstanding loan amount and is rounded down to the nearest cent. It is charged at the time you fully close your open position.
Mandatory liquidation fee:
This fee is applied to the value of the outstanding loan amount of your leveraged position at the time it is closed by us. This fee is applied only when your position is automatically liquidated or partially liquidated when your position margin falls below mandatory liquidation level. This fee is not charged when you close your position yourself or using triggers.
Fees are accrued against the profit/loss of your position:
All fees are calculated and accrued against the profit/loss of your position while it is open. They are charged against the position when the position is partially or fully closed.
| Fee Name | Fee Amount | Timing of Fee Payment |
|---|---|---|
| Position Open Fee | Percentage of the total opening loan amount. Currently free. | Accrued against profit/loss when you create a new open position, charged when the position is closed |
| Position Close Fee | Percentage of the total loan amount at the time of closing or partially liquidating the position. Currently free. | Applied when either you or we close an open position |
| Mandatory liquidation fee | 1% of the total loan amount at the time of closing or partially liquidating the position. | Applied when we close or partially close an open position because it has reached a mandatory liquidation level. |
| Interest Fee | 0.1% per day, accrued every 10 seconds. | Applied when your position is closed. |
If you have sufficient fiat or cryptocurrency in your account to create a new leveraged position, you can create a new leveraged position up to your applicable leveraged position limit. Different leveraged position limits apply to each fiat and cryptocurrency. Note: all limits apply to the size of the initial position, not the current value of your open position.
For example: Using 2x leverage buy, we advance you $1,000 to buy Bitcoin and you contribute $1,000 as collateral, your Bitcoin limit will be used. If the price of Bitcoin then goes up 10% and your leveraged position is showing an unrealised gain of $200. Your leveraged position is using only SGD$2,000 of your Bitcoin leveraged position limit, not SGD$2,200. This is because your limit does not change in response to unrealised profits and losses on your leveraged positions.
If you try to open a new leveraged position that will take you over your single cryptocurrency leveraged position limit, you will receive an error message advising of this.
There may be times when you have sufficient fiat or cryptocurrency in your account to open a new leveraged position and you have not reached your single cryptocurrency leveraged position limit, but you are unable to create any new open leveraged position. This is because we maintain a global leveraged position limit that is applied across all customers. This limit is in place to ensure the integrity and stability of the markets we offer to our customers.
If you try to open a new leveraged position after we have reached the global leveraged position limit, you will receive an error message advising of this.
We are not liable for any loss or damage (including consequential loss, indirect loss, loss of profit or economic loss) that you may incur as a result of not being able to create a new leveraged position due to any of the leveraged position limits being reached.
We may (in our absolute discretion) close out one or more of your open leveraged positions at the prevailing market price without further notice to you in the following circumstances:
For this purpose, an exceptional event includes:
In extreme market conditions, the lack of liquidity may result in your position being closed below the current market price. Any residual funds, cryptocurrency and collateral will be returned to your trading account. Importantly, your liability in respect of leveraged positions is not limited to the amount, if any, of any collateral provided. You are responsible and liable for paying us any deficit owing to us after a leveraged position is closed.
Excluding fees, the unrealised profit and loss of your open leveraged position is calculated as the difference between the current market value of your leveraged position and the value of the leveraged position at the time you opened the leveraged position.
Fees are always deducted from your unrealised profit and loss.
A leveraged buy position is where you borrow fiat to open a buy trade.
A leveraged sell position is where you borrow crypto to open a sell trade.
Leveraged Buy Position: (Leverage Value x Market Price) minus (Leverage Value x Position Opening Price) where the Leverage Value is a multiple of the collateral contributed. For example, if the collateral contributed is 50% based on the margin percentage, the Leverage Value is x2. The below examples are exclusive of any fees.
Example 1: You take a 5x leveraged buy position on 5 Bitcoin at $12,000 per Bitcoin.
The current price of Bitcoin has moved up and is now $12,350:
Your unrealised profit = (5 x $12,350) minus (5 x $12,000)
Your unrealised profit = $61,750 minus $60,000
Your unrealised profit = $1,750
Example 2: You take a 2x leveraged buy position on Bitcoin at $12,000 per Bitcoin.
The current price of Bitcoin has moved down and is now $11,500:
Your unrealised loss = (2 x $11,500) minus (2 x $12,000)
Your unrealised loss = $23,000 minus $24,000
Your unrealised loss = -$1,000
Leveraged Sell Position: (Leverage Value x Position Opening Price) minus (Leverage Value x Market Price) where the Leverage Value is a multiple of the collateral contributed. For example, if the collateral contributed is 50% based on the margin percentage, the Leverage Value is x2.
Example 3: You take a 4x leveraged sell position on Bitcoin at $15,000 per Bitcoin.
The current price of Bitcoin has moved down and is now $12,200:
Your unrealised profit = (4 x $15,000) minus (4 x $12,200)
Your unrealised profit = $60,000 minus $48,800
Your unrealised profit = $11,200
Example 4: You take a 3x leveraged sell position on Bitcoin at $15,000 per Bitcoin.
The current price of Bitcoin has moved up and is now $15,100:
Your unrealised loss = (3 x $15,000) minus (3 x $15,100)
Your unrealised loss = $45,000 minus $45,300
Your unrealised loss = -$300
We may (in our absolute discretion) change the margin percentage, margin call level, mandatory liquidation level, leveraged trading limits or any other terms that apply to our leveraged trading service and the change may apply to new leveraged positions as well as open leveraged positions. We will endeavour to provide you with as much notice as possible before implementing a change.
However, we may provide very short notice of a change, or no notice at all, where an exceptional event occurs. For this purpose, an exceptional event includes:
We will notify you of any changes via your account and whether it only applies to new leveraged positions or if it will apply to any open leveraged positions. If we change any of the leveraged trading terms, this may impact your open leveraged positions, any unrealised gains or losses and leveraged trading limits. It is important that you regularly check your account to monitor your open leveraged positions and are aware of any changes to our leveraged trading service that may impact your positions.
Referrers are eligible for $20 worth of Bitcoin if a Referee creates an eligible account using the Referrer's unique referral code/link and executes a trade.
Referees are eligible for $20 worth of Bitcoin if they open a fully verified or FastTrack account using the Referrer's unique referral code/link and execute a trade.
To qualify as an eligible account:
For the Referrer and Referee to receive the payment, the Referee must:
The dollar denomination (AUD, NZD) will be determined by the Referees' location.
Referrers
Referees
For the Referrer and Referee to receive the payment, the Referee must:
Every successful referral will enter both the Referrer and the Referee into the randomly selected prize draw, with the chance for each to win $500 of Bitcoin. One entry is awarded per successful referral. The $500 giveaway will be drawn on the first Tuesday of each month for the prior month’s prize, and winners will be contacted by email. Each winner will receive $500 of Bitcoin, deposited into their fully verified or FastTrack bitcoin.com.au account within 5 business days.
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