Definition and Interpretation
Terms of service on 1000X.live will be applied to all accounts registered on the website, including all trading services. If there is an account under different terms, these terms will be an additional reference.
Terms and references in this agreement, defined and interpreted by the conditions of service on 1000X.live yet not by this agreement, will have the exact definitions and structures as the conditions in this agreement.
The terms in this agreement shall be considered along with the terms and conditions. In case of any discrepancy or contradiction between the terms in this agreement and in the terms and conditions, the provisions of this agreement shall prevail.
Liquidity Provider Condition
The prices, including spread and pricing margin, will be provided to 1000X.live only by the Liquidity Provider (Third Party). The price will be displayed exactly the numbers that the liquidity provider from the global market determines. 1000X.live is only an intermediary to deliver buy/sell orders to the liquidity provider.
Fees, and Charges
In every deposit and withdrawal transaction, the system charges a fee of 1.5% automatically.
Balancethe total of the deposit in the account, excluding credits. If a user does not have a credit (excluding profit and loss), when the position is closed, the balance shows the total that the user can withdraw.
Creditan additional money that a user obtains after a deposit into 1000X. The credit rate depends on how much the system determines the rate per total of the currency deposited by the user at the moment.
Equitythe amount of profit/loss in the account while the position is open. It also equals the amount when the position is closed. Equity is calculated by adding balance, credit, and profit together, then deducting by the loss. As a result, the equity shows the actual total that a user owns when the position is open or closed.
Floating Profitthe unrealized amount of profit or loss from the active buy orders or sell orders.
PNLan index indicating the total of profit/loss
(Total Profit)and showing in a percentage of profit/loss
(Profitability)of a user.
Total profitthe total profit/loss that a user receives after closing the buy/sell orders.
Profitabilitythe return rate of profit in percentage, calculated by the number of closed buy/sell orders.
History Tradea list of completed buy/sell orders on 1000X. All transactions can be viewed in this menu bar in the account.
Types of Buy-Sell Orders
Stop Ordera buy/sell order for an asset at a higher price than its current one.
Limit Ordera buy/sell order for an asset at a lower price than its current one, or a sell order for an asset at a higher price than its current one.
Buy Limit Ordera pending buy order for an asset, which will be processed once the asset’s value decreases below the determined level. A buy limit order is usually placed when it is believed the asset’s value will increase after the order is placed.
Sell Limit Ordera pending sell order for an asset, which will be processed once the asset’s value increases above the determined level. A sell limit order is usually placed when it is believed the asset’s value will decrease after the order is placed.
Sell Stop Ordera pending buy order for an asset, which will be processed once the asset’s value decreases below the determined level. A sell stop order is usually placed when it is believed the asset’s value will decrease further after the order is placed.
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Types of Trading
There are two types of trading:
Future Tradesrefer to buy/sell orders or contracts which buyers and sellers agree to buy/sell on the condition of price determination within today, but the trades will proceed in the future. Buyers and sellers are not required to hold such contracts until the arranged time but may trade them when it is due. Buyers and sellers “must buy or sell” as per their agreements.
Binary Tradesrefer to a form of trade that involves anticipating whether future prices will be aligned with buy/sell orders within the given time. A buy order or sell order can be placed in each round. If the price is higher than anticipated when a round ends, the buyer will gain a profit from the buy position. If the price is lower than anticipated when a round ends, the seller will gain a profit from the sell position. The system pays with a fixed amount.
Your Representations, Warranties, Agreement and Undertakings
The agreement to the following terms and conditions, related to futures trading rules, of each service offered is required.
Any orders or agreements in a futures trading account depend upon a user’s decisions only. Users shall proceed with an individual’s independent evaluation, investigation and consideration of risks regarding the orders. The orders should be appropriately placed according to individual financial resources, ability and willingness to tolerate risks, along with relative financial purposes.
1000X is not under any obligation to queries about users’ purposes or the appropriateness of any of their orders and is not responsible for considering any of their deposits into their futures trading account.
You acknowledge that accessible electronic facilities are available as “they are” and that 1000X is not an agent and does not clearly nor indirectly guarantee matters about operations, content, or other electronic facilities.