ORDER PROCESSING POLICY

SCX, by means of the Site, provides registered users with the Service to sell or buy virtual currencies in a one-to-one contractual relationship with SCX. By placing an order, you confirm and declare that you have read, reviewed, understood and accepted all of the following important legal information and present Order Processing Policy mentioned hereinafter and will comply to them, as well as the Terms and all policies and procedures incorporated by reference. If you do not agree to the Order Processing Policy, the Terms or any policies and procedures incorporated by reference, please exit the Site immediately. The Order Processing Policy is subject to change at any time without notice and access to, and use of the Site and/or User Account and/or Services may be restricted or terminated at any time. You are therefore advised to review the Order Processing Policy each time you access the Site, your Account or any of our Services.

IMPLIED RISKS

For information about the implied risks, please refer to the respective section in the Terms of Use (hereinafter “Terms”).

FINANCIAL REGULATAION

For information about the financial regulation, please refer to the respective section in the Terms.

FEE POLICY

It is your exclusive responsibility to determine if any fees shall be applied, and in which measure, to the transactions of virtual currencies performed by means of the Services, and to retain, collect, report and remit the right values of the fees to the tax authorities from your territory. For information about fees for our Services, please refer to our Fee Policy.

PURCHASE AND SALE TRANSACTIONS

Purchase and Sale Transactions of virtual currencies that have already been processed are irreversible. Confirmations of Purchase and Sale Transactions by the virtual currency network can vary.
We are not creating FIAT deposits for our clients. We are only converting FIAT to virtual currencies or sell virtual currency and send the FIAT to the registered users’ bank account verified during the registration process.

1. SCX users owning a bank account at Partner Bank A)

1.1 Purchase of crypto against fiat

The final Purchase Price is determined by SCX, in its sole discretion and depending on available market prices, after SCX has ascertained and blocked on the User’s bank account at the Partner Bank the corresponding fiat balance, generally without delay. Some limitations and delays may apply for Purchase Transactions with large volumes.

1.2 Sale of crypto against fiat

The final Sale Price is determined by SCX, in its sole discretion and depending on available market prices. The fiat amount corresponding to the net proceeds of the Sale Transaction is credited generally without delay to the User’s bank account at the Partner Bank. Some limitations and delays may apply for Sale Transactions with large volumes.

1.3 Purchase and Sale of crypto against crypto

Purchase and Sale Transaction Prices are determined by SCX, in its sole discretion depending on available market prices.
Purchase and Sale Transactions are mirrored in the User Account and confirmed by the virtual currency network once the User has withdrawn the corresponding crypto from his User Account to his Private Wallet created at SCX.
Withdrawals occurring directly from the User Account to a User’s External Wallet are prohibited.

2. SCX users NOT owning a bank account at Partner Bank A)

2.1 Purchase of crypto against fiat

The final Purchase Price is determined by SCX, in its sole discretion and depending on available market prices, at the time when SCX has received confirmation from the bank that the fiat amount has been credited to one of the SCX bank accounts. Should the time of such conformation lie outside the bank’s and SCX’s Trading Hours (Monday-Friday, 09:00-17:00 Swiss Time) then the final Purchase Price will be determined as soon as reasonably possible on the next Business Day.

2.2 Sale of crypto against fiat

The final Sale Price is determined by SCX, in its sole discretion and depending on available market prices. The fiat amount corresponding to the net proceeds of the Sale Transaction is credited to the User’s bank account as soon as reasonably possible.

2.3 Purchase and Sale of crypto against crypto

Purchase and Sale Transaction Prices are determined by SCX, in its sole discretion depending on available market prices.
Purchase and Sale Transactions are mirrored in the User Account and confirmed by the virtual currency network once the User has withdrawn the corresponding crypto from his User Account to his Private Wallet created at SCX.
Withdrawals occurring directly from the User Account to a User’s External Wallet are prohibited.

RIGHT TO SUSPEND OR DELAY TRANSACTIONS AND SETTLEMENTS

SCX reserves the right to refuse the processing or annulment of any ongoing transaction using virtual currencies or any transaction using the local currency connected to your Account, according to the legal provisions or as an answer to a notice, a legal order or another binding decision. SCX cannot reverse the settlement of the virtual currency that has been communicated and confirmed by the special network for virtual currencies.

SCX reserves the right to deny a procedure or to annul it, with regard to any acquisition or sale of virtual currencies or any transfers, at its own discretion, if it suspects that the transaction implies, or it presents a high risk of implication in money laundering, the financing of terrorism, a fraud or any other type of financial infringement, tax evasion, as well as any offence provided for by the criminal law, as an answer to a notice, legal order or other governmental order, or if it suspects that the transaction refers to a narrowed activity. We reserve the right to modify, suspend or interrupt any aspect of the Services, at any time, including the operating hours or the availability of any facility, without a prior notification and without any liability.

We can deny the processing of any transaction or the settlement without a prior notification and we can limit or suspend your right to use one or several Services, at any time, at our own discretion.

The suspension of your right to use any of the Services will not affect your rights and obligations pursuant to the Terms or any policies and procedures incorporated by reference. It is possible, at our own discretion, to delay the transactions or agreements, if we consider that the transaction is suspicious or that it might imply any frauds or irregularities, or that its infringes the applicable laws or it infringes the Terms or any policies and procedures incorporated by reference.

In case of an increased volatility of a market, unforeseen situations on the economic scene or events of force majeure, the transactions and settlements can be subjected to delays. SCX will not be held liable for these delays, not having any control on these potential events. SCX is not responsible for these delays due to the settlements subjected to a transfer between banks.

REFUND AND CANCELLATION OF ORDERS

Once submitted a request for a quote by a registered user, the price offered by SCX as response will be valid 60 minutes. Within this timeframe, the payment as implied acceptance of the offer has to be made. Otherwise, the offer will be automatically cancelled and the offer will no longer be available. All sales are final, no cancellations or refunds are available after accepting the offer by initialising the payment.

For more information on refunds in case of Account suspension or closure, please refer to our User Account Policy.

EMERGENCY SITUATIONS

In emergency situations SCX may temporarily restrict or suspend trading service full or in part. The following specific circumstances shall be deemed to be emergency situations: (1) failure of the trading system or the access infrastructure or parts thereof; (2) failure of a user access system; (3) failure of the technical settlement infrastructure; (4) force majeure; or (5) other situations that might compromise fair, efficient and orderly trading. SCX shall fix the situation using best effort.

ANNEX

Partner Bank A):
Dukascopy Bank SA, Route de Pre-Bois 20, 1215 Geneva, Switzerland

Version: 04.07.2019