XREX Taiwan Crypto Loans and Margin Trading Service Agreement
Last Updated: July 01, 2025｜Effective Date: July 31, 2025
The terms and conditions herein (the "Terms") shall serve as the usage agreement and fundamental guidelines for Taiwan users of the XREX Taiwan platform (the "Platform", "we", “our company” or "XREX") in connection with the use of Crypto Loan services ( referred to as the "Service").
During the course of using the Service, civil legal relationships or financial characteristics such as collateralized lending and consumer loan arrangements may arise. The Service is suitable for users with trading experience, such as those adopting aggressive or diversified strategies. The corresponding investment profile for Platform users is "moderate".
When participating in Crypto Loan, you should carefully evaluate and fully understand the operational mechanism of the Service and be able to bear the related risks (including but not limited to the collateral system, borrowing costs, and market price fluctuation risks, ). You should assess your risk appetite, financial capacity, and economic situation before using the Service to engage in any transactions.
Before using the Service, you agree to be bound by these Terms and their subsequent updates:
Article 1. Eligibility
You must meet the membership application requirements set forth in the XREX Taiwan General Terms and Conditions and hold a valid account approved through XREX’s KYC verification process in order to use the Service.
Article 2. Services
You may submit a loan application to the Platform and withdraw the borrowed crypto assets. The Platform evaluates your borrowing eligibility and risk level based on the Loan-to-Value ratio (LTV ratio), which is calculated as the market value of the borrowed assets divided by the market value of the collateral. When your LTV ratio reaches a certain level (as published on the Service page), it may trigger the collateral liquidation mechanisms.
Article 3. Collateral and Loaned Assets
Users of the Crypto Loan Service are required to deposit collateral assets (“the Collateral”) on the Platform. Acceptable types of Collateral include BTC, ETH or XAUT. Users may choose to borrow either USDT or USD91. The types of Collateral or loaned assets may be updated at any time during the operation of the Service.
In the event of significant fluctuations in the market value of crypto assets, the Platform may require users to provide additional Collateral to maintain the LTV ratio. However, the Platform is not obligated to do so.
Article 4. Liquidation Mechanism
1. Margin Call Notification When your LTV ratio reaches the Platform’s pre-set alert level, the Platform will attempt to send you a margin call notice via one or more methods, such as in-app push notifications, email, or other applicable channels. This is a reminder for you to manage your risks and replenish your Collateral promptly.
2. Forced Liquidation If your LTV ratio reaches or exceeds the liquidation threshold set by the Platform, the Platform may, without further notice, immediately initiate automated liquidation procedures to sell or dispose of your Collateral in order to repay your outstanding debt. The proceeds from liquidation will be applied in the following order: related fees (such as transaction fees), accrued borrowing costs (interest), and the remaining loan principal.
3. User Responsibilities and Acknowledgments Regarding Liquidation
You understand and agree that the margin call notification is merely a courtesy reminder provided by the Platform and does not constitute a guarantee or obligation. Due to the highly volatile nature of the crypto market or factors beyond the Platform’s control—such as network delays, third-party communication issues, or the user's device or settings—there may be delays or failures in delivering the notification, or the user may not read it in time.
You acknowledge that during extreme market fluctuations, the LTV ratio may rapidly rise from the warning level to the liquidation level, and the issuance of a margin call does not guarantee sufficient time to replenish the Collateral. Liquidation may occur shortly after or even simultaneously with the margin call.
You are primarily responsible for proactively monitoring your LTV ratio and market price fluctuations. You must independently assess the risks and be prepared to replenish Collateral at any time to avoid liquidation. You shall not claim any form of damages or rights against the Platform solely on the basis of not receiving or not receiving in time the margin call notification. The Platform shall not be liable for any losses caused by market fluctuations or the liquidation mechanism.
Article 5. Borrowing Cost
Please refer to the “Legal Disclosures > Internal Policies > Fee Policy” section on our official website for detailed explanations regarding product/service content and related handling fees. The Platform reserves the right to adjust interest rates and will announce changes in advance.
Article 6. Repayment
You may choose to repay part or all of the loan at any time. Borrowing costs will continue to accrue until liquidation or full repayment.
If, after liquidation, your debt remains unpaid due to market illiquidity or severe price fluctuations, you agree that the Platform may restrict the withdrawal or transfer of other assets in your account, and may prioritize such assets to settle outstanding fees, borrowing costs, and principal.
Article 7. Risk Disclosure
Given the high risk of trading activities in crypto, you acknowledge and agree that you assume full responsibility for using the Service. Before deciding whether to use the Service, you should understand and accept the following matters and risks:
You understand that under extreme market conditions, certain crypto assets may lack liquidity (insufficient order book depth), which could result in slippage—where the actual liquidation price is worse than the market index price—thereby increasing your losses.
In addition to the value fluctuations of the Borrowed Assets, the value of your Collateral may also fluctuate with the market.If the Collateral becomes insufficient, you may be required to provide additional Collateral, and such changes may result in losses exceeding your original expectations.
You understand that even after providing additionalCollateralautomatic liquidation may still occur due to delays in deposit processing. Especially to comply e with government regulations, information security measures, and anti-money laundering policies, the Platform may suspend or stop transactions or deposits/withdrawals without prior notice, potentially affecting your ability to perform or resulting in forced liquidation.
Please note that the Service may be adjusted, suspended, or removed from time to time in accordance with applicable regulations in Taiwan or the internal policies of the Platform.
Article 8. Disclaimer and Limitation of Liability
This Platform, the Service, and all information, content, materials, and services provided through the Platform are provided on an "as is" and "as available" basis. XREX makes no express or implied warranties regarding merchantability, suitability for a particular purpose, ownership, or non-infringement.
All information, data, and services provided by the Platform do not constitute any form of investment, legal, tax, or financial advice. You should make independent judgments based on your own financial condition, risk tolerance, and the advice of professional consultants.
The Platform does not guarantee that the Service or products are legal or properly authorized in the user’s jurisdiction. If your nationality or jurisdiction is not covered by the laws of the Republic of China (Taiwan), you are solely responsible for ensuring the legality of your use of the Service. You shall bear all associated risks and legal responsibilities.
To the extent permitted by law, the Platform shall not be reliable for any direct, indirect, incidental, special, consequential, or punitive damages (including but not limited to loss of profits, business interruption, data loss, or other economic losses) resulting from the use or inability to use the Service.
You understand that laws and regulatory policies regarding virtual assets are still evolving across jurisdictions. Any future changes in policies (e.g., tax treatment, classification, trading restrictions, etc.) may significantly impact the value of virtual assets and the operation of the Service. The governing law of this Platform is the law of the Republic of China (Taiwan). If your nationality or jurisdiction is not subject to Taiwanese law, the Platform cannot guarantee that the products or services are lawful or appropriately authorized in your jurisdiction. You are solely responsible for verifying and ensuring the legality of your use of the products or services locally and shall bear all related risks and legal liabilities.
Article 9. Return of Collateral
Upon partial or full repayment of the debt, the Platform will calculate the equivalent value of the Collateral and shall complete the return of such equivalent Collateral within one (1) business day. The return shall be made in the same type and quantity of assets.
In extreme circumstances (such as delisting of the relevant asset), the Platform may decide to return an equivalent value in fiat currency or stablecoins. The calculation of such equivalent value shall be based on the Platform’s publicly posted prices at the time.
You agree that the Platform reserves the full right to determine the method of return and the type of assets used for such return.
Article 10. Modifications
As our business evolves, XREX may modify the Terms at any time with proper notice. Every modification will be updated on the website. If you do not agree with such changes, please contact our Customer Service Team for further assistance.
Article 11. Matters Not Provided Herein
Matters not addressed herein shall be subject to XREX Taiwan General Terms and Conditions and the applicable regulations.
XREX Taiwan Supplementary Terms and Conditions for Margin Trading
These Supplementary Terms and Conditions for Margin Trading (the “Terms”) constitute a supplementary agreement to the “XREX Taiwan General Terms and Conditions, the General T&C) ” between you and XREX Taiwan (hereinafter referred to as the “Platform,” “we,” “our company,” or “XREX”).Margin trading involves high leverage and carries significant financial risks, which may result in the loss of your entire principal and, under certain circumstances, may even lead to liabilities exceeding your initial investment.
Before applying to enable or use the margin trading services provided by the Platform (the “Service”), you must have thoroughly read, fully understood, and agreed to all the contents of the Terms.The Terms constitute a supplementary agreement to the General T&C and are disclosed therein. Therefore, by checking the box “I have read and agree to the General T&C” or by executing any margin trading transaction, you acknowledge that you are aware of and capable of bearing the associated risks and agree to be legally bound by the Terms.
Article 1. Definitions
Unless otherwise defined herein, all capitalized terms used in the Terms shall have the same meanings as defined in the General T&C. The following terms are defined as follows:
Margin Account: An account designated for margin trading, in which the assets are managed separately from other accounts on the Platform (e.g., spot account).
Credit Line: The maximum borrowing limit approved by the Platform based on the value of Collateral deposited by the member, available for borrowing and opening positions.
Position: A long or short position established by the member through the Service, representing the holding of a specific quantity of virtual assets.
Isolated Margin:
(a) Each margin trading position has its own independently calculated Collateral and margin level; and (b) Collateral allocated to a specific position exists independently and is not automatically shared with or applied to support other positions.
Collateral: Assets transferred and locked from the Available Balance to secure a specific position.
Available Balance: Assets in your Margin Account that have not been allocated as Collateral for any position and are available to open new positions or absorb losses.
Margin Level: A key floating indicator used to measure the health of an individual position.
Calculation formula: Margin Level = Total Value of Position Assets ÷ Total Value of Position Liabilities *All values are calculated based on the Platform’s designated quote currency (e.g., USDT).
Examples:
Long BTC/USDT:
Liabilities: USDT borrowed to purchase BTC.
Assets: BTC held in the position, whose market value fluctuates with the price.
Risk: If the price of BTC drops, the asset value decreases, leading to a lower margin level.
Short BTC/USDT:
Liabilities: BTC borrowed and sold; liability value fluctuates with the BTC price.
Assets: Your original Collateral, plus USDT received from selling the borrowed BTC.
Risk: If the price of BTC rises, the liability value increases, reducing the margin level.
Margin Call Ratio: The margin level threshold below which the system will attempt to issue a margin call warning.
Liquidation Ratio: The margin level threshold at or below which the system will execute forced liquidation of the position.
Deficit Loss: A shortfall that arises when, after forced liquidation of an individual position, the full value of the Collateral remains insufficient to cover the principal, interest, and related fees of the loan associated with that position.
Article 2: Material Risk Disclosure
Leverage Risk Leverage proportionally amplifies both your potential gains and losses. A minor adverse market movement may result in substantial losses under the effect of leverage, far exceeding those in non-leveraged trading.
Forced Liquidation Risk Drastic market price fluctuations may cause the margin level of your position to fall below the Liquidation Ratio within a short period. The liquidation process is executed automatically. The aforementioned margin call notification is provided solely as a reminder service by the Platform and does not constitute any guarantee or obligation of the Platform. Due to the extremely rapid price volatility in the virtual asset market, or factors beyond the full control of the Platform—such as network delays, issues with third-party communication service providers, or problems with the Client’s own equipment or settings—margin call notifications may be delayed, fail to deliver, or fail to be read by the Client in time. As a result, you may be liquidated at an involuntary price and timing, and may lose all collateral assets.
Deficit and Deduction Risk If a forced liquidation of a single position results in a Deficit Loss, the Platform shall have the right, without further consent from you, to directly deduct corresponding assets from the Available Balance in your margin trading account to cover the shortfall.
Article 3: Trade Execution, Repayment, and Fees
Opening a Position: You may transfer assets from your Available Balance to serve as collateral for a specific position. You may then select the trading pair, leverage multiplier, and order size to open the position. Upon completion, the designated collateral assets will be locked.
Borrowing Cost: As the margin trading service involves borrowing virtual assets from the Platform, the applicable borrowing cost shall be calculated on an hourly basis and charged upon position closure (including partial closure). For applicable rates, please refer to the “Fee Policy” section on the Platform’s official website.
Repayment: You are required to proactively repay the borrowed virtual assets and the accrued borrowing cost before the due date. Failure to make timely repayment may result in additional interest charges and penalties.
Article 4: Risk Management and Forced Liquidation
Member Responsibility: The member shall be solely responsible for continuously monitoring all open positions, market price fluctuations, and the Margin Level of each position in their account. The member is also obligated to promptly add collateral when necessary in order to reduce the risk of automatic liquidation.
Margin Call Notification: When the Margin Level of any position falls below the Margin Call Ratio, the Platform will attempt to send a notification via app push alert, email, or other available channels. Such notifications are for reminder purposes only and shall not constitute any guarantee or obligation on the part of the Platform.
Forced Liquidation:
A. If the Margin Level of any margin trade falls below or equals the Liquidation Ratio set by the Platform, an automatic forced liquidation will be triggered. The system will immediately sell the assets held in that position to repay the borrowed assets.
During liquidation, in addition to liquidating the collateral associated with the position, the Platform reserves the right to restrict withdrawals of other account assets in order to preserve its claims.
Liquidation proceeds will be applied in the following order: (i) applicable transaction fees; (ii) accrued borrowing cost; (iii) borrowed principal.
You acknowledge and accept that any loss incurred during the liquidation process—including, but not limited to, price slippage, insufficient liquidity, or extreme price volatility—shall be solely borne by you. The Platform shall not be liable for any such loss.
Deficit Loss Handling: In the event that a Deficit Loss remains after automatic forced liquidation is executed, the Member agrees that the Platform may directly deduct the equivalent amount from the Available Balance in their margin account without further notice.
Platform Rights: The Platform may, in accordance with its risk management policies, adjust the Margin Level thresholds, liquidation conditions, or repayment sequence at any time, and shall publish such updates on the relevant service page.
Article 5: Member Representations and Undertakings
You confirm that you are not a person prohibited or restricted by the laws of any jurisdiction from engaging in virtual asset margin trading.
You confirm that the source of your funds is lawful and that such funds are not used for any illegal purpose.
You acknowledge that during periods of high market volatility, the Margin Level may shift from the warning threshold to the liquidation threshold within an extremely short period. Margin call notifications issued by the Platform do not guarantee that you will have sufficient time to add collateral. The liquidation process may occur shortly after or even concurrently with the issuance of such notifications.
You undertake to comply with the Member Responsibilities set out in this Supplementary Agreement, including proactively monitoring your account's loan-to-value (LTV) ratio and market fluctuations. You shall assess and manage risks independently and maintain readiness to adjust your collateral at any time to avoid forced liquidation. You shall not assert any claim for damages or other rights against the Platform solely on the basis of not receiving, or not timely receiving, a margin call notification. The Platform shall not be liable for any losses arising from market volatility or the liquidation mechanism.
You declare that you have thoroughly read this Supplementary Agreement, including but not limited to the material risk disclosures in Article 2, and confirm that you possess sufficient investment experience, knowledge, and financial capacity to bear the full extent of any potential loss.
Article 6: Miscellaneous
This Supplementary Agreement forms an integral part of the Terms of Service. In the event of any inconsistency between this Supplementary Agreement and the User Terms, matters relating to margin trading shall be governed by this Supplementary Agreement.
The Platform reserves the right to amend the Terms at any time. The amended terms shall be published on the Platform's website and shall take effect on the effective date specified in the announcement. Your continued use of the service shall constitute your acceptance of the amended terms.
The governing law and jurisdiction applicable to the Terms shall be the same as those set forth in the General T&C.
[End of the Terms]
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