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When you create an order, the money shows as pending and is entered in the order book. Pending funds are released when the order has been matched or cancelled. To cancel an order, navigate to "Buy / Sell", then "Open Orders" and then cancel the required open orders. The funds will be returned to your balance immediately so you may trade again or withdraw. |
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You can only withdraw funds up to the amount of your available balance. If you are getting the error "Insufficient Funds" unexpectedly, you may have some open orders that are holding some funds. You may wish to cancel your open orders to be able to be able to withdraw those funds. To see if you have any open orders, click on "Buy / Sell" and then "Open Orders" and then you can cancel any open orders. You can view your account overview to confirm any unprocessed withdrawals or open orders (as indicated by pending funds). | ||
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First-time-user withdrawals are subject to a security check to ensure they are not fraudulent. We can see all withdrawals and they will be processed once they have been cleared by our fraud-prevention systems. |
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The blockchain is the record of every blockchain asset ever generated and every transfer from one party to another. Each cryptocurrency that is based on the same type of technology as Bitcoin has its own blockchain. |
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Please contact support and provide details of the transaction. We endeavour to ensure all transactions are completed as quickly as possible |
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Please check how many confirmations are required on the deposit page. Currently we wait for account confirmation to credit user accounts. |
General
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The blockchain is the record of every blockchain asset ever generated and every transfer from one party to another. Each cryptocurrency that is based on the same type of technology as Bitcoin has its own blockchain. |
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Please contact support and provide details of the transaction. We endeavour to ensure all transactions are completed as quickly as possible |
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Please check how many confirmations are required on the deposit page. Currently we wait for account confirmation to credit user accounts. |
General
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METEX is a marketplace for buyers and sellers to exchange blockchain assets. You are trading with other users of this site. The price you buy or sell at is up to you. The price is influenced by the demand and supply from buyers and sellers on this exchange. The current price shown is the last price a buyer and a seller agreed to exchange. Metex does NOT derive metals prices from London Metals Exchange “LME” or London Bullion Market Association “LBMA" |
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The use of a VPN can interfere with our geo-location systems and cause security flags or issues in our identity verification systems including delays in the processing of trades, deposits and withdrawals. Due to these potential issues we recommend you consider these factors when using a VPN while accessing your METEX account. |
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We offer a managed service, so once you have bought blockchain assets you may send, receive and store your assets on our exchange. We always recommend that our users manage their own funds and withdraw to a personal wallet after purchase. Currently metal tokens can not be stored offline but we are working with Ledger wallet devices to create a wallet on their devices. |
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METALS | GRAMS PER TOKEN | |
GOLD | 1.00 | |
SILVER | 10.00 | |
PLATINUM | 1.00 | |
PALLADIUM | 1.00 | |
NICKEL | 10.00 | |
ALUMINIUM | 10.00 | |
COPPER | 10.00 | |
ZINC | 10.00 | |
TIN | 10.00 | |
COBALT | 10.00 |
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The use of a VPN can interfere with our geo-location systems and cause security flags or issues in our identity verification systems including delays in the processing of trades, deposits and withdrawals. Due to these potential issues we recommend you consider these factors when using a VPN while accessing your METEX account. |
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We offer a managed service, so once you have bought blockchain assets you may send, receive and store your assets on our exchange. We always recommend that our users manage their own funds and withdraw to a personal wallet after purchase. Currently metal tokens can not be stored offline but we are working with Ledger wallet devices to create a wallet on their devices. |
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Note* Metex will launch with the four precious metals. |
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No. The use of our services for the purpose of payment to ransomware is strictly forbidden. | ||
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No. We only provide a service for our users to safely trade with one anotherThe use of our services for the purpose of payment to ransomware is strictly forbidden. |
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No. We only provide a service for our users to safely trade with one another on Metex owned exchanges. |
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No. The use of our services to engage in any illegal activities is strictly forbidden. |
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Your ownership of metal will be evidenced by the record on your Holding on the blockchain, which will record the quantity of metal held by you or on your behalf (as the case may be) at the Vault, which quantity is expressed in tokens. Example 1: 1 Gold Token(MAu) = 1 gram goldExample 2: 1 Gold Token(MAuO) = 1 oz goldExample 3: 1 Silver Token (MAg) = 10 grams silver= 1 gram gold Example 42: 1 Silver Token (MAgK) = 1 kilo = 10 grams silver
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Every Holding records the Cryptocurrency balance, Gold grams, Silver grams, Platinum grams, or Palladium grams account records the balance of metals tokens, AUD and Cryptocrrency you own. You acknowledge and agree that the value of your Cryptocurrency, Gold grams, Silver 10 grams, Platinum grams, or Palladium grams can rise or fall when measured against National Currencythe market. You assume any exchange rate risk. Metex charges no fees for insurance and storage. Each Vault maintains insurance at least equal to one hundred per cent (100%) of the value of Metal held for Metex and all its Clients. Our storages for precious metals are with highly secured and reputable banks and specialised vault companies. Metex will have it is own highly secured vaults in key global location to provide customer with access, efficient delivery and tokenisation hubs. These locations will be announced on the website in due time. |
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If you fail to access your Holding for a period of seven (7) years, your Holding will be deemed to be dormant. In such circumstances we will make such reasonable efforts as we in our absolute discretion consider appropriate to locate you. If, following such efforts, we are unable to locate you, it shall be presumed that you are deceased and/or dissolved (or equivalent) and we will then seek to contact such next of kin, successor or alternative contact person or entity as has been notified to us. If, having made reasonable efforts in the circumstances, we are unable to trace you or any next of kin or successor or alternative contact person your Holding will be deemed to be abandoned and your Holding will be closed with all and any Metal you own (as determined by the balance of your Holding), being forfeited and transferred to Metex. We reserve the right to deduct a dormancy fee or other administrative charges from such dormant Holdings, as permitted by applicable law. We reserve a right to close any Holding freeze or delete an account with a zero balance (in respect of Metal, Cryptocurrency and Fiat Currency) and which you have not accessed for a period of twelve (12) months or more, after giving you sufficient warning at you last recorded email address. |
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If any resolution is passed or order is made by a court or other competent authority for the dissolution, receivership, winding-up, or liquidation of Metex, or any declaration is made in relation to Metex under the Bankruptcy and Insolvency Act (“BIA”) 1985, or equivalent (together, a “Termination Event”), any liquidator, trustee in bankruptcy, judicial custodian, compulsory manager, receiver, administrative receiver, administrator or similar officer who is appointed in respect of the affairs of Metex (the “Appointed Person”) will, subject always to applicable law, make such reasonable efforts as the Appointed Person may consider appropriate, using such information as the Appointed Person may hold, to locate you. If, having made such reasonable efforts, the Appointed Person is unable to locate you or your next of kin or successor, the Appointed Person may after the expiry of seven (7) years commencing with the date of the Termination Event, deem your Holding abandoned and the Holding will be closed with all and any Metal or Client Money comprising the Holding being forfeited. Subject to the direction of the Appointed Person, on the winding-up or bankruptcy of Metex, you can request distribution from the Vault of your Metal in accordance with the procedure for delivery of Metal. Any Metal that you choose not to have delivered to you or which represents the balance of your Holding and recorded on the blockchain which does not equate to whole bars will be sold at prevailing market rates. Such proceeds will be transferred to you upon your instruction either to your bank account or by sending a cheque payable to you to your last known address, less any outstanding fees due under this Agreement. |
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Customer may only withdraw Precious Metals in the multiples of the whole unit in which they are eligible to be deposited in storage. Customer may not withdraw fractional tubes, boxes or bars. Gold – 1oz bar |
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For more information or to tokenise please email: tokenisemymetal@metex.io |
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