Terms and conditions
The MKX terms cover who may open an account (individuals aged 18 or over), the wallet, client money, buy-and-sell and OTC services, the fee schedule and how it can change, and they are governed by UAE law with the courts of Dubai having exclusive jurisdiction.
Risk warning Virtual Assets may lose their value in full or in part, and are subject to extreme volatility. The owner and/or investor in the Virtual Asset can lose all the money or other value they invest, and does not benefit from any form of financial protection.
Document record
Last updated
- Document
- Terms and conditions, summary
- Minimum age
- 18
- Governing law
- Laws of the UAE
- Courts
- Courts of Dubai, exclusive jurisdiction
In brief
- An individual must be at least 18 to hold an account.
- MKX may change its fees, and no objection within 30 days counts as acceptance.
- No deposit protection mechanism covers your virtual assets or your dirhams.
- UAE law governs, and the courts of Dubai have exclusive jurisdiction.
1. Who can use MKX
You may open an individual account only if you are "at least 18 years old". Before you trade, MKX verifies your identity: you upload an identity document and complete a liveness check. MKX also offers accounts for businesses.
Read the terms together with the privacy policy and the MKX risk disclosure statement.
2. Services covered
The terms name four services, which MKX provides as a broker-dealer licensed by VARA for Broker-Dealer Services, reference VL/25/04/001:
- a hosted digital wallet, which the terms call the Digital Asset Wallet;
- a Client Money Account for the dirhams you send to MKX;
- a digital asset exchange service, through which you buy and sell supported assets;
- OTC trading through an OTC desk.
3. Supported assets
The published terms and the published Fee Schedule do not give the same list. The terms state: "The current list of supported assets is BTC, ETH, BNB, XRP, USDT, USDC, SOL". That is seven assets. The Fee Schedule lists ten, adding TRX, POL and ARB. Check the list shown in your account before you send funds.
The terms also say that "Advanced Protocols", such as metacoins, colored coins, side chains and forked protocols, are not supported.
4. Fees and changes to fees
Every charge is listed in the fee schedule. The trading fee is 1.5% of each transaction. Under the terms MKX "reserves the right to modify the Fee Schedule at any time". If you do not object within thirty (30) days of a change, you are treated as having accepted it.
5. Client money, custody and protection
Dirhams you send to MKX are recorded in a Client Money Account. The terms say this account "is not a deposit or investment account", that the funds are held "in a designated safekeeping account with a regulated financial institution licensed in the UAE", and that they "will not earn interest". The terms do not name the institution.
For virtual assets the terms name the "Wallet Custody Services Provider: Fireblocks". What is published about both arrangements is on the page about custody and client money.
No deposit protection
The terms state: "Clients' Virtual Assets and Fiat Assets are not covered by any deposit protection mechanism from MKX."
6. Governing law and disputes
The terms are governed by the laws of the UAE, and the courts of Dubai have exclusive jurisdiction. Before a dispute reaches a court, use the complaints route: the page on how MKX handles complaints gives the channels and the deadlines.
Step-by-step explanations of an order are in the MKX Learn guides to buying and selling USDT.
About this page
A prototype summary. The binding text is the full terms and conditions that MKX publishes on mkx.ae, which are far longer than this page. Where the two differ, the published terms apply.
Check the cost before you accept the terms
The fee schedule lists the 1.5% trading fee and every deposit and withdrawal minimum.