How do I buy blockchain assets?
Click on "Account" then "Deposit" for a list of depositing options. Once your deposit has cleared you can place a buy order. Click on "Buy / Sell" and enter the amount and price you want to pay. The easiest and quickest way to buy blockchain assets is to select a "Market Order"
How do I sell blockchain assets?
Click "Buy / Sell" and navigate to the sell form and enter the volume and price. The easiest and quickest way to sell blockchain assets is to select the market order option.
What is a Market Order?
A market order will buy or sell immediately at the best available price. The best available prices are shown in the order book if you want to check it before ordering. To create a market order just select the "Market Order" option on the trading page
What is a Limit Order?
When you place a limit order, you decide what price you wish to buy or sell at. Your order will then be added to the order book and will be waiting for someone to submit a matching order.
What is the Order Book?
The order book is a list of all buy and sell orders placed.
Why is my order stuck as an Open Order?
If you find that nothing happens after a long time, click on "Open Order" and see if your order is still open. Check the price to see if it's near the market average. You may have to cancel it and put in a more competitive price if you want your order matched more quickly. This is all part of trading.
Can I cancel a trade?
You may cancel your order before it trades at any time by clicking on "Buy / Sell" then "Open Orders". You can also cancel a partially matched order.
Do you offer Stop Loss orders?
At this stage we have not implemented a stop-loss feature. If you place a sell limit order below the market value our system will execute the order for the market rate. The same also happens if you place a buy limit order above the market rate.
Withdrawals and Deposits
How do I deposit blockchain assets?
To deposit funds, choose the correct blockchain asset, click "Account" and "Generate Address". You can use this address to receive blockchain assets.
How do I withdraw blockchain assets?
To withdraw funds, click "Account" and "Withdraw", select your withdrawal type and enter the details. Please make sure you enter the correct blockchain address.
How do I deposit AUD currency?
Click this link for instructions
I have tried to withdraw but I get the error "Insufficient Funds"
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).
Why do I have "Pending Funds"?
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.
Why is my blockchain asset withdrawal pending?
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.
What is the blockchain?
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.
I can't see my blockchain assets on the blockchain
Please contact support and provide details of the transaction. We endeavour to ensure all transactions are completed as quickly as possible
Why has my deposit not been credited to my account?
Please check how many confirmations are required on the deposit page. Currently we wait for account confirmation to credit user accounts.
What is METEX?
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"
Do you allow VPNs?
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.
Do I need my own wallet?
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.
What Metal backed tokens can I trade?
GRAMS PER TOKEN
Note* Metex will launch with the four precious metals.
Can I use this site to assist with the paying of ransomware?
No. The use of our services for the purpose of payment to ransomware is strictly forbidden.
Do METEX Exchanges buy and sell blockchain assets from other exchanges?
No. We only provide a service for our users to safely trade with one another.
Can I use this site to engage in illegal activities?
No. The use of our services to engage in any illegal activities is strictly forbidden.
Do you have an API?
No. We are developing an API for future use.
How do I verify my account?
To make a bank deposit or withdrawal to/from your account you must be verified. Becoming verified is usually a quick process but in some cases can take a few days to complete. When you start to create an account with us, you will be redirected to your User Panel and KYC interface. You will also be required to confirm your source of funds and upload a copy of the front page of a bank statement. The front page of the bank statement must show your name, address and the bank account number for verification that these are the same details in your user profile. All other details on the bank statement should be obscured for your privacy. The easiest and quickest way to verify is to follow the instructions for each step. You may be prompted to use your passport and driver's license if the Document Verification Service is unable to match all the information easily. If you have any issues, feel free to contact compliance support who will be able to resolve any issues.
Why must I verify my account?
METEX is registered with AUSTRAC as Independent Remittance Dealer, Bullion Dealer and Digital Currency Exchange Service Provider. Therefore we must remain compliant by following AML and CTF guidelines. More details can be found in our AML/CTF Policy. We ask our users to verify their accounts as part of our KYC (Know Your Customer) policy. We may also ask for additional documentation to confirm your identity.
How do I enable additional security to my account?
Once you have registered and logged in, we recommend all users enable two factor authentication (2FA) on their account for additional security.
Is METEX safe and secure?
Security and privacy of our clients accounts' and data is our top priority. We run regular reconciliations of all our funds to ensure we have a full reserve. We also apply security best practices and are continually developing and enhancing our security measures.
How do I change my name listed in my account?
In many cases name changes are not possible. Please contact support and provide the details of the name change. The name change must be supported with evidence that you are the same person and have legally changed your name.
How do I change my password?
You can change your password by using the password reset feature.
How do I change my email address?
For security reasons we do not allow email address changes. If you want to use another email address, please register a new account. If you lose access to your email address please contact support.
My two-factor code has stopped working and I can't log in
The two-factor code is very time sensitive. Even if it is out by a few seconds it may prevent you from accessing your account. Please check the time and date on your phone is fully synchronised and accurate.
I have lost my phone / two-factor code and no can no longer log back in
Please go to the two-factor reset page and follow the instructions to regain access to your account.
Should we store our blockchain assets on your site?
Our clients may confidently entrust their cryptocurrency with us; however, our recommendation is that clients should manage and safely secure their own funds. This philosophy is inherent to the nature of peer-to-peer cryptocurrencies. We believe cryptocurrency storage reserves should not be reliant upon a single entity, such as a bank, exchange or third party wallet management system.
Do you manage a full reserve?
We use a cold wallet and hot wallet system to secure and manage our clients' cryptocurrency reserves. We maintain a full reserve and process reconciliations regularly. This gives us and our clients confidence that the funds shown in their accounts match with what is really in our bank and cold wallets. Our encrypted cold wallet storage is off-site in multiple locations. Each location is physically secure and physically diverse.
Ownership and Delivery of Metals
Ownership of the Metals
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 = 1 gram gold
Example 2: 1 Silver Token = 10 grams silver
Storage and Insurance
Every 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 the 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.
Actions for dormant holdings
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 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.
Winding-up or bankruptcy
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.
Metals delivery and tokenisation
Minimum Metals Orders for shipment
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
Silver – 1 Kg bar
Platinum – 1 oz
Palladium – 1 oz
What happens to tokens/blockchain at delivery?
- Metex receives request for the metal delivery from a wallet holder and the balance contains the minimum tokens required.
- Metex will freeze the exact number of the tokens in your wallet.
- Delivery takes place to the wallet holder.
- Tokens/blockchain will be burnt.
Can I tokenise/return/exchange my items?
- Metex customer or new customer may return or send his metals holdings to Metex.
- Metex will test and verify the metal.
- Should the metals not meet the minimum requirements of purity Metex will send the metals back to the customer at their cost.
- Once the metal is verified the individual will be notified by email.
- Individual will be required to register on the Metex Exchange and fill in the KYC/AML documents.
- If approved, customer’s bullion will be tokenised into grams or troy ounces and the wallet will be loaded with metal tokens minus Metex 1% fee or the nearest round number.
- For example:
- Customer sends 1oz Gold Bar.
- 1 oz = 31.1 grams
- Metex will charge 5% of the metals value for the tokenisation.
- Metex will load customer’s wallet with 31.1 x 1 gram tokens.
For more information or to tokenise please email: email@example.com
Australia by post (TOLL Priority)
- To any Address
- Delivery 3 to 7 working days from date of despatch to most major centres. Some remote locations may require collection from the nearest depot.
- Shipping charge AUD 17.50 per kg of packed weight or part thereof, minimum charge AUD 17.50.
- Tracking number provided by email the day of despatch.
- Up to AUD 60,000 order value (in 2 x deliveries).
- In case of unsuccessful delivery, a courier card with contact details will be left. Customer may then arrange for collection or one re-delivery to the same address within 7 days.
- Optional insurance offered at 1%, plus GST.
- Post Office boxes cannot be used for Australian deliveries by TOLL Priority.
- The Photo ID (passport or driver’s license) and Signature from the customer or person named on the consignment note is required on delivery.
International by post
- International door-to-door within 3-14 working days from date of despatch, subject to customs formalities (excluding Malaysia, Indonesia and Thailand, which will be shipped via ECI).
- Deliveries to Malaysia, Indonesia and Thailand will be delivered via postal courier service to a maximum value of less than AUD 2,000.
- Deliveries to Macau, Jordan and Japan are subject to the following maximum values: Macau AUD 300, Jordan AUD 700 and Japan AUD 25,000.
- Individual parcels have a maximum value of AUD 30,000 with optional insurance calculated at 1%.
- Post Office boxes cannot be used for international deliveries by FedEx.
- Signature required on delivery.
- Shipping charges do not include overseas customs duties, foreign taxes or any other costs which may be associated with clearing goods through local customs. These fees are the sole responsibility of the customer, as is assisting local authorities with any information required for formal customs clearance in the county of destination.
- Goods and Services Tax (GST). GST is not levied on bullion sold in Australia or overseas. However, Australian domestic sales incur GST on freight and insurance. Overseas sales only incur GST if the bullion is not exported within 60 days of the order.
Shipping - United States and Canada?
Metex selects KITCO as strategic supplier of physical metals. For deliveries to United States and Canada delivery conditions will apply as per Kitco shipping conditions.
Shipments over AUD30,000
Shipments over AUD30,000 will need to be delivered by Secure Carrier.
Such deliveries are arranged on a case by case basis. The Metex customer service team will liaise with the customer to determine the requirements for each delivery and provide a specific quote and delivery details.
Customer Service contact details email: firstname.lastname@example.org
Please note that Metex also offers precious metals storage for free and no insurance fees.
Who is liable should my package be lost or stolen while in transit?
Metex fully insures all shipments. Our insurer is liable if anything should happen to your package while it is in transit.
Metex cannot accept responsibility if:
- You have a signature waiver on file with the courier company
- You have your purchase delivered to a non-residential (or alternative) address
- Your package is signed for by a third party
How can I track my package?
Depending on the type of purchase you make, your tracking number will be posted on your account online and/or sent to you by email.
Tracking number may take up to 24 hours to show any activity through the courier's websites.