Terms and Conditions for Opening a Gold Trading Account Between Customer and MTS Gold Co., Ltd. via MTSGoldX Application
These Terms and Conditions for Opening a Gold Trading Account via MTSGoldX Application (hereinafter referred to in these Terms as the “Terms”) constitute all terms and conditions related to the use of gold trading services and the opening of a gold trading account via the MTSGoldX Application with MTS Gold Co., Ltd., located at No. 40, 42, 44, Gold Development Institute Building, Sub Road, Wang Burapha Phirom Subdistrict, Phra Nakhon District, Bangkok 10200 (hereinafter referred to in these Terms as the “Company”). When you press or click on "Accept Terms and Conditions" , it shall be deemed that you have read and understood the terms and conditions of these Terms, and you agree to be bound by all terms and conditions of these Terms in all respects.
1
Definitions
Unless these Terms allow for a different interpretation, in these Terms, the following terms shall have the meanings ascribed below:
1.1 “Customer”means a customer of the Company who accepts and agrees to be bound by these Terms for participating in trading gold via the MTSGoldX Application with the Company in accordance with the terms and conditions of these Terms.
1.2 “MTSGoldX Application ” means the “MTSGoldX” application developed by the Company as a channel and facility for customers to send gold buy and sell orders to the Company for executing gold transactions between the customer and the Company, including sending requests to withdraw gold from the gold trading account opened with the Company and/or any other orders as specified to be transmitted through the MTSGoldX Application, in accordance with the terms and conditions of these Terms.
1.3 “Online Transaction” means an online transaction conducted via computer and/or mobile application and/or other channels connected to an internet network, which constitutes an electronic transaction under the Electronic Transactions Act B.E. 2544 (2001) and its amendments.
1.4 “Gold Trading Account” means an account approved by the Company for each customer in the MTSGoldX Application to access and perform buy orders, sell orders, gold deposits, gold withdrawals, and any other transactions related to the gold trading account between the customer and the Company via the MTSGoldX Application under these Terms.
1.5 “Gold” means gold bullion with a standard purity of 96.50% and/or gold with a standard purity of 99.99% certified for quality standards.
1.6 “Order” means any order originating from the customer's gold trading account notifying the intention to the Company via the MTSGoldX Application.
1.7 “Gold Sell Order” means an order by the customer notifying the intention to sell gold to the Company.
1.8 “Gold Buy Order” means an order by the customer notifying the intention to buy gold from the Company.
1.9 “Trading Order” means a gold buy order or gold sell order placed in the customer's gold trading account.
1.10 “Gold Withdrawal Order” means an order by the customer notifying the intention to withdraw deposited gold from the gold trading account via the MTSGoldX Application.
1.11 “Gold Unit” means the unit of weight measurement for gold with 96.5% standard purity in Baht Gold (BG) units, and gold with 99.99% standard purity in Gram, Ounce (OZ), and Kilogram (KG) units.
1.12 “Minimum Gold Delivery Condition” means the minimum quantity of gold units for gold withdrawal to the customer pursuant to a gold withdrawal order. ำ
1.13 “Deposited Gold” means gold held in the customer's gold trading account via the MTSGoldX Application, which the customer agrees to deposit with the Company under the Company's gold deposit terms, displayed in gold units.
1.14 “Gold Buy Unit” means the unit of weight measurement for gold that the customer can place buy orders for via the MTSGoldX Application, with standard 96.50% purity quality-certified gold having a minimum weight unit of 0.01 Baht Gold (zero point zero one Baht Gold), and/or standard 99.99% purity quality-certified gold bullion having a minimum weight unit of 1 gram, 0.1 ounce, or 0.1 kilogram (one gram, zero point one ounce, or zero point one kilogram), or as announced by the Company on its website or other channels specified by the Company. Customers may place minimum buy orders as follows:
1.14.1 Gold buy unit in Thai Baht (THB) starting from 1,000 Baht (one thousand Baht), up to a maximum buy order value of no more than 2,000,000 Baht (two million Baht) per transaction, or as announced by the Company on its website or other specified channels.
1.14.2 Gold buy unit in US Dollars (USD) starting from 25 US Dollars (twenty-five US Dollars), up to a maximum buy order value of no more than 50,000 US Dollars (fifty thousand US Dollars) per transaction, or as announced by the Company on its website or other specified channels.
1.15 “Gold Sell Unit” means the unit of weight measurement for gold that the customer can place sell orders for via the MTSGoldX Application, with standard 96.50% purity quality-certified gold having a minimum weight unit of 0.01 Baht Gold (zero point zero one Baht Gold), and/or standard 99.99% purity quality-certified gold bullion having a minimum weight unit of 1 gram, 0.001 ounce, 0.1 ounce, or 0.1 kilogram (one gram, zero point zero zero one ounce, zero point one ounce, or zero point one kilogram), or as announced by the Company on its website or other specified channels. The MTSGoldX Application will display the proceed amount in Thai Baht or US Dollars.
1.16 “Gold Delivery Unit”means the unit of weight measurement for gold bullion that the customer can receive physical delivery of, being standard 96.50% purity quality-certified gold bullion with a minimum weight unit of 0.01 Baht Gold (zero point zero one Baht Gold), and standard 99.99% purity quality-certified gold bullion with a minimum weight unit of 1 gram, 0.1 ounce, or 0.1 kilogram (one gram, zero point one ounce, or zero point one kilogram), or as announced by the Company on its website or other specified channels.
1.17 “Displayed Decimal Places” means the number of decimal positions that the MTSGoldX Application will record and display for relevant gold transactions.
1.18 “Company's Gold Trading Price” means the bid and offer prices of gold announced by the Company during each period, referenced from the market price.
1.19. “Market Price” means the gold price of the Gold Traders Association and international market gold prices using the London Gold AM Fixing published by ICE Benchmark Administration as the reference price for calculating the Final Settlement Price (reference: https://www.ice.com/iba ).
1.20. “Username” means the personal identification code assigned by the Company for the customer's benefit in accessing their gold trading account via the MTSGoldX Application to perform related transactions in accordance with these Terms.
1.21. “Password” means the personal password created and maintained by the customer for accessing their gold trading account via the MTSGoldX Application to execute related transactions under these Terms.
1.22. “Deposit and Withdrawal Hours” means the period from 00:31 hrs. to 23:29 hrs. daily (except 23:30 hrs. to 00:30 hrs. of the following day), or as announced by commercial banks or the Company.
1.23. "Gold Trading Business Daysำ" means the time from 07:00 hrs. of a day to 03:00 hrs. of the following day, from Monday to Friday, based on Thailand date and time, during which customers can place buy and sell orders for gold, excluding market break periods.
1.24. “Non-Trading Hoursำ” means dates and times outside gold trading business days, including market break periods and holidays announced by the Company on its website or other designated channels.
1.25. “Company Business Days and Hours”means Monday through Saturday, from 09:30 hrs. to 17:00 hrs.
1.26. “Non-Business Hours of the Company” means weekly holidays, bank holidays, or foreign customary holidays, including holidays pre-announced by the Company.
1.27. “Market Break Period” means times during which the London Bullion Market is not trading, not displaying prices, or as announced by the London Bullion Market. Customers will not be able to place gold buy or sell orders during market break periods.
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Agreement on Use and Service of Gold Trading via MTSGoldX Application
2.1. Upon registering to log into the trading system via the MTSGoldX Application and accepting these Terms, it shall be deemed that the customer agrees to participate in using the gold trading service via the Company's MTSGoldX Application, and the Company agrees to accept the customer into the gold trading program via the MTSGoldX Application platform under these Terms.
2.2. The customer consents and acknowledges that trading via the MTSGoldX Application involves physical delivery of gold bullion in all cases (Gold Physical Delivery).
2.3. The customer consents and acknowledges that once a buy order or sell order is successfully executed via the MTSGoldX Application, the customer cannot cancel such order under any circumstances.
2.4. The customer consents and acknowledges that once a gold withdrawal order is confirmed via the MTSGoldX Application, the customer cannot cancel such order under any circumstances.
2.5. The customer agrees to pay all fees, service charges, compensation, expenses, and taxes incurred under or in connection with these Terms, such as bank debit fees, to the Company within the specified timeframe and at the rates announced by the Company. In the event of any changes to fee rates or amounts payable, the customer agrees to pay according to the revised rates or amounts within the designated timeframe in all respects.
2.6. Subject to relevant laws and regulations governing the Company and the nature of transactions under these Terms, the customer agrees and authorizes the Company to disclose all or part of the information concerning the customer, the customer's account, and/or gold trading information retained by the Company in any format—whether documents, audio recordings, electronic media, or otherwise—to relevant government agencies, legal advisors, auditors of the Company, or affiliate companies, including for customer verification, compliance with laws, court orders, official receivers' orders, execution officers' orders, or credit information and anti-money laundering laws, without prior notice to the customer.
2.7. In addition to the agreements set forth herein, the customer agrees to abide by relevant regulations and commercial customs in gold trading enforced by the Company.
2.8. The customer represents and warrants that all information provided to the Company is accurate, current, and true in all respects. In case of any changes to customer details under these Terms, the customer agrees to notify the Company of such updated information in writing immediately. The Company shall not be liable for any damage incurred by the customer due to failure to comply with this clause. Under no circumstances may the customer change their registered mobile phone number, as it serves as the identity verification reference with the Company.
2.9. The customer is solely responsible for protecting and maintaining the confidentiality of their Password for all transactions via the MTSGoldX Application. The customer shall be solely liable for the use of the Password to access data and/or transmit gold trading orders through the MTSGoldX Application, whether executed by the customer or third parties who obtain the Password with or without consent. The customer must implement appropriate security measures to ensure Password confidentiality. The customer assumes sole risk and liability for Password disclosure to third parties and unauthorized account access, for which the Company bears no responsibility. The customer may change their Password at any time, but such changes shall take effect only upon acceptance by the Company.
2.10. The customer agrees to waive all claims, rights of action, legal proceedings, or other actions against the Company for any damages incurred due to acts or omissions of third parties beyond the Company's control.
2.11. The customer acknowledges that any purchase or sale of gold under these Terms represents an independent decision by the customer. Information, news, or advice regarding gold trading received from Company employees by any method or format shall not constitute investment advice, solicitation, or inducement, and shall not bind the Company. The Company assumes no liability for damages arising therefrom. The customer understands that gold investment carries price volatility risks and has a duty to study and understand investments prior to placing trading orders. The customer must regularly review their gold trading account status on the MTS GoldX system.
2.12. The customer acknowledges that participating in gold trading via the MTS GoldX Application does not constitute a bank deposit with commercial banks or financial institutions, and the Company has no obligation to pay interest or other returns. Customer assets stored with the Company are not protected by deposit protection funds or deposit guarantee organizations.
2.13. The customer acknowledges that gold trading involves high risk due to gold price volatility driven by market mechanisms and external factors. When trading gold via the MTSGoldX Application, the customer is obligated to regularly monitor gold price movements. The Company shall not be liable for any losses or damages arising from the customer's gold trading activities through the MTSGoldX Application.
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Opening a Gold Trading Account via MTSGoldX Application
3.1. Customers may access gold trading services via the MTSGoldX Application by selecting “Open Account for Trading” on the app, providing complete and truthful personal information. Submitting false or third-party information may constitute a legal offense. If the application information is insufficient for Know Your Customer (KYC) verification, the Company will contact the customer via its central phone line starting with 02-770-7777. If the customer cannot be reached within the specified period, the Company reserves the sole discretion to cancel the application, and the customer shall have no right to make any claims against the Company.
3.2. Upon account opening approval, the Company will send account confirmation via email or SMS to the contact details provided during application.
3.3. Upon initial login, the customer must complete identity verification instructions received via email to set up an account Password. For account security, the Company recommends setting complex passwords, avoiding personal data such as birth dates, and resetting passwords frequently.
3.4. The customer is responsible for maintaining the confidentiality of their Username and Password and shall not disclose them to anyone (including investment advisors or Company staff). The Company does not permit staff to know customer credentials. Any transaction performed using the customer's Username and Password shall be deemed executed by the customer, who shall bear sole responsibility for all resulting consequences.
3.5. If unauthorized access is detected, the customer must notify the Company in writing immediately via designated channels. The customer assumes all risks and damages resulting from account suspension executed by the Company upon notification.
3.6. In case of forgotten passwords, the customer may request a password reset via the MTSGoldX Application by clicking "Forgot Password". The Company will invalidate the previous Password and send a One Time Password (OTP) via SMS to the registered mobile number to configure a new Password.
3.7. The customer acknowledges that their registered phone number is vital for identity verification. In case of number cancellation or lost phone, trading will be restricted. The customer must promptly contact the Company at 02-770-7777 to verify identity and update contact details. The customer bears sole liability for any unauthorized access occurring prior to updating contact information.
3.8. The Company reserves the right to limit gold trading account ownership to 1 (one) account per national ID card number.
3.9. Customers can view historical trading transactions via the MTSGoldX Application.
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General Provisions Regarding Online Transactions
4.1 The customer acknowledges operational risks arising from equipment, computer system, or internet connection failures. The Company shall not be liable for damages resulting from such disruptions. The Company reserves the right to cancel affected transactions without prior notice, and the customer agrees not to claim damages resulting from transaction cancellations.
4.2 The customer understands online transaction procedures and risks, including data loss, transmission delays, network failures, and data discrepancies. The customer agrees not to hold the Company liable for damages resulting from such events.
4.3 The customer assumes full responsibility for damages caused by operational errors on their gold trading account not attributable to the Company. Executed purchases, sales, or withdrawals cannot be modified, revoked, or canceled, and become legally binding on the customer immediately upon execution.
4.4 If system disruptions cause price errors on the MTSGoldX Application exceeding 3 USD per ounce compared to market prices within 5 seconds of order placement (e.g., market price at 1,780 USD/oz while app displays 1,785 USD/oz), the customer agrees that the Company has the right to immediately cancel affected transactions. The Company will notify the customer as soon as possible. The customer shall promptly return any funds, gold, or benefits received from erroneous transactions upon demand, and waives all claims arising from transaction cancellations.
4.5 If market liquidity meets order quantity conditions at placement, the MTSGoldX Application will confirm successful order execution chronologically. If matching liquidity is unavailable, the order will be canceled immediately with notification. Customers may submit gold withdrawal requests daily, selecting delivery dates and locations pursuant to these Terms.
4.6 Trading orders may be executed during gold trading business days. Outside trading hours, orders are queued as pending and confirmed in chronological order upon business opening.
4.7 The MTSGoldX Application may experience market break periods during which system processing or transaction execution is temporarily unavailable until reopening.
4.8 Physical gold pick-up following withdrawal orders is available during business hours at designated Company branches or locations published on the website.
4.9 In emergency situations, user surges, or external disruptions causing temporary service suspension or execution delays, the Company will endeavor to restore system functionality promptly. The customer agrees not to claim damages unless loss is proven to result from the Company's gross negligence, in which case liability is limited to actual direct damages.
4.10 The Company may perform system maintenance affecting order execution after advance notice. The customer agrees not to claim damages arising from service unavailability during maintenance windows.
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Funds Deposit and Withdrawal in MTSGoldX Application Account
5.1. Customers may deposit and withdraw funds during designated Deposit and Withdrawal Hours.
5.2. Customers may deposit or withdraw funds up to 2 (two) million Baht per transaction/day, or as announced on the Company's website or designated channels.
5.3. Customers must retain and verify deposit/withdrawal records to confirm transaction amounts or for audit verification if requested by the Company.
5.4. Customers agree to pay withdrawal fees at rates specified by the Company, automatically deducted from account balances upon request. Sufficient balance covering withdrawal amount and transaction fees is required.
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Gold Purchasing via MTSGoldX Application
6.1 To purchase gold via the MTSGoldX Application, the customer must transfer funds into their gold trading account, allowing purchases within account balance limits and gold trading units.
6.2 Purchasing 96.5% and 99.99% purity gold can be executed in gold units, THB, or USD via the MTSGoldX Application. Purchase pricing is determined at the moment of order confirmation and successful payment execution.
6.3 The customer agrees that gold purchase transactions will record and display decimal precision as detailed below, waiving all claims regarding decimal handling:
6.3.1 Gold units in buy orders display up to 5 decimal places; subsequent digits are truncated without charge (e.g., an order of 0.12345 oz is processed as 0.1234 oz).
6.3.2 Currency values in THB or USD display 2 decimal places, with subsequent digits rounded up.
6.4 Due to market price volatility, payment must be completed immediately upon order confirmation. Delayed payments subject the purchase to updated prevailing market prices at the time payment is finalized.
6.5 Upon full payment settlement, the Company delivers gold by crediting deposited gold weight to the customer's MTSGoldX trading account on the same day.
6.6 The customer agrees that the Company holds deposited gold on their behalf without obligation to pay interest, yields, or financial returns.
6.7 Unpaid buy orders will not result in gold credits and will be canceled immediately without notice or customer recourse.
6.8 Confirmed orders failing payment due to insufficient funds or other reasons are deemed unexecuted, requiring order re-submission at current market prices.
6.9 If technical issues result in incomplete payment after gold crediting, the customer remains obligated to settle the balance. If unsettled within 3 business days following notice, the Company may suspend trading and liquidate deposited gold at market prices after 17:00 hrs. on the 4th business day to recover outstanding debts without liability.
6.10 Incomplete payments without gold delivery entitle the Company to cancel orders immediately without prior notice or damages.
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Gold Selling via MTSGoldX Application
7.1 Customers may sell 96.50% and 99.99% purity gold held in their MTSGoldX account in complete trading units. The app displays estimated proceed values in THB or USD based on prevailing Company rates at execution time.
7.2 Gold sell transactions calculate proceeds based on order weight, displaying 2 decimal places. Excess decimal values are truncated without customer claim rights.
7.3 Executing a sell order authorizes the Company to debit gold from the customer's account. Upon full delivery, proceeds are remitted to the registered bank account on the transaction date.
7.4 Unconfirmed sell orders do not debit gold or credit funds. Price fluctuations prior to confirmation may cause final proceeds to differ from initial estimates without Company liability.
7.5 If confirmed sell orders lack sufficient account gold balances, payout is withheld until complete delivery fulfillment by the customer.
7.6 Sell order executions complete during business hours. Orders placed off-hours are queued and executed sequentially on the following business day.
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Physical Gold Delivery via MTSGoldX Application
8.1 Customers may request physical delivery of deposited gold meeting standard delivery unit thresholds. Fractional quantities below delivery units cannot be withdrawn physically.
8.2 Physical delivery requests require selecting quantity, date, and pick-up location at least 3 days in advance via online channels.
8.3 Gold collection is restricted to Mae Thong Suk branch locations specified during booking. Bookings are non-alterable; alternate collection locations require sole Company approval and may incur additional fees.
8.4 Collection requires presenting the booking screen for scanning and verifying an OTP sent to the customer's registered phone number. OTPs must be provided directly to staff; the Company bears no liability for misdisclosed OTPs.
8.5 Physical gold withdrawals incur bar/craftsmanship fees (block fees) calculated in THB and deducted directly from the linked account. Rates are accessible at https://www.mtsblockchain.com/ktb/service
8.6 Power of attorney for gold collection is discouraged. If mandatory, authorized representatives must present full identity verification, power of attorney documents, certified ID copies, and the customer's OTP code, subject to sole Company approval.
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Custody of Customer Assets
9.1. The customer agrees to let the Company safeguard gold purchased via the MTSGoldX Application under these Terms.
9.2. Executing sell orders authorizes the Company to debit and transfer deposited gold units to complete sales obligations on the customer's behalf.
9.3. The customer authorizes the Company to set off held assets against purchase debts or other outstanding liabilities owed to the Company upon 3 days written notice.
9.4. The Company agrees to exercise reasonable care in safeguarding customer assets consistent with its own business practices.
9.5. Safeguarding services are provided without storage fees regardless of trading volume. The customer grants the Company permission to manage held gold to offset custody costs while maintaining customer ownership and on-demand withdrawal rights under these Terms.
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Customer Duties During MTSGoldX Service Usage
10.1. Customers must regularly monitor trading transactions, fund flows, and gold balances via email or app reports. Errors must be reported immediately. Discrepancies not reported within 3 business days of occurrence or 5 business days of report receipt are deemed waived, releasing the Company from all liability.
10.2. Customers must read, understand, and accept all terms and study gold investments independently prior to trading. The Company assumes no liability for losses incurred due to misunderstanding terms.
10.3. These Terms take effect immediately upon clicking "I have read and accepted the terms and conditions above" and remain effective indefinitely unless terminated under Clause 11.
11
Termination of Service via MTSGoldX Application
11.1. Either party may terminate MTSGoldX services by providing at least 30 days written notice to the other party.
11.2. The Company reserves the right to immediately suspend trading transactions upon the occurrence of any of the following events:
a) Customer insolvency, receivership, bankruptcy, or rehabilitation petition filings.
b) Court judgments, payment orders, or asset attachment/seizure orders against the customer.
c) Customer death, disappearance, or legal incapacity/quasi-incapacity declarations.
d) Discovery of false, dishonest, concealed, or misleading information provided by the customer.
e) Suspected illegal or immoral activities conducted by the customer.
f) Reasonable belief in the customer's inability to fulfill contractual obligations.
g) Material breach of Terms remaining uncured for 15 days following notice.
11.3. The Company may immediately suspend account transactions upon detecting breaches of Terms or unlawful/immoral conduct.
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Suspension and Expiration of Service via MTSGoldX Application
Upon service termination for any reason, the Company will proceed as follows:
12.1 Service suspension will be announced via the Company website or designated channels.
12.2 Account transactions will be fully suspended within 30 days following suspension notice.
12.3 Held assets may be liquidated to offset debts. If debts remain after 3 business days notice, the Company may sell held gold at market prices after 17:00 hrs. on the 4th business day without prior notice.
12.4 In the absence of outstanding debts, remaining gold in delivery units will be prepared for collection within 14 days. Unclaimed gold and fractional units will be liquidated on day 30, with net proceeds deposited to the registered bank account.
12.5 Remaining gold will be returned within 30 days of termination upon verifying zero debt balance. Physical collection occurs strictly at headquarters upon presentation of complete identity verification documents.
12.6 Outstanding liabilities (fees, taxes, damages) upon termination become immediately due, authorizing the Company to deduct funds or liquidate gold to cover arrears.
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Liabilities and Remedies
13.1. Upon account cancellation or suspension under Clause 10.2, all outstanding liabilities become immediately due. Trading privileges terminate, and the Company may offset, seize, or retain assets across all agreements to settle obligations, binding customer heirs and estates.
13.2. Customers agree to indemnify the Company against all damages, costs, and third-party claims arising from customer acts/omissions not caused by Company intentional misconduct or negligence.
13.3. The Company is not liable for force majeure events, natural disasters, strikes, riots, wars, government actions, network/internet outages, or power failures not caused by Company wilful default or negligence.
13.4. The Company bears no liability for lost profits, opportunities, or consequential damages resulting from mandatory compliance with government or regulatory authority orders.
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Miscellaneous Provisions
14.1. Failure or delay by the Company in exercising rights or remedies does not constitute a waiver thereof.
14.2. Customers consent to communications recording (phone, electronic, app) for verification, regulatory disclosure, and legal/arbitration evidence.
14.3. Customers consent to personal data processing for benefits management, loyalty programs, marketing communications, and promotional activities across corporate group entities.
14.4. The Company may modify Terms at any time. Continued application usage post-notice constitutes full acceptance of revised Terms.
14.5. Severability: Invalidation of any provision under Thai law shall not affect remaining valid provisions.
14.6. Disputes shall be negotiated in good faith within 30 days of written notice. Unresolved disputes shall be submitted to binding arbitration under the rules of the Thai Arbitration Institute, Office of the Judiciary.
14.7. These Terms are governed by and construed in accordance with the laws of the Kingdom of Thailand.
14.8. Notices delivered via phone, post, fax, email, or app notifications to provided contact details are deemed legally served regardless of receipt confirmation.
14.9. These Terms apply specifically to MTSGoldX Application services and prevail over conflicting prior agreements.
Additional Terms and Conditions
For Placing Limit Orders
1
The following definitions and provisions shall apply in these additional terms unless context dictates otherwise:
1.1. “Limit Order” means placing an order to buy or sell gold specifying unit price and quantity via the MTSGoldX Application as follows:
1.1.1 “Buy Limit Order” means placing a conditional order to buy gold at a specified price.
1.1.2 “Sell Limit Order” means placing a conditional order to sell gold at a specified price.
1.2. “Pending Order” means a Limit Order placed via the app that remains unexecuted.
1.3. “Limit Order Executed” means a Limit Order confirmed upon matching price conditions under Clause 4.1.
1.3.1 “Buy Limit Executed” means execution occurs when gold prices fall to or below the specified Buy Limit price with matching market sell volume, obligating the customer to pay in full.
1.3.2 “Sell Limit Executed” means execution occurs when gold prices rise to or above the specified Sell Limit price with matching market buy volume, obligating the customer to deliver gold in full.
1.4. “Limit Order Expired” means a Limit Order canceled upon session expiry.
1.5. “Cancel Limit Order”means a Limit Order canceled by the customer under Clause 2.2, or canceled automatically/by the Company due to invalid parameters, liquidity shortages, insufficient funds/gold, order expiry, system errors, or unforeseen circumstances beyond Company control.
1.6. “Limit Order Operating Hours” means hours during gold trading days when Limit Orders can be submitted, confirmed, or canceled.
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Placing Limit Orders
2.1. Customers may place Limit Orders between 0.1 oz and 50 oz (or as announced). Specified limit prices must adhere to the following thresholds:
2.1.1 Buy Limit Orders below market price cannot be set more than 10% lower than prevailing market price at submission (e.g., at $2,500 market price, minimum Buy Limit is $2,250).
2.1.2 Sell Limit Orders above market price cannot be set more than 10% higher than prevailing market price at submission (e.g., at $2,490 market price, maximum Sell Limit is $2,739).
2.2. Pending Orders can only be canceled during operating hours while still unexecuted.
2.3. Customers must maintain adequate account balances/gold units to back active Limit Orders. Inadequate balances upon execution do not relieve the customer of binding settlement obligations.
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Funds Withholding and Gold Reservation for Limit Orders
3.1. Confirming a Buy Limit Order authorizes withholding corresponding purchase funds from temporary savings until order execution, expiry, or cancellation. Withholding facilitates order processing while maintaining customer balance obligations.
3.2. Confirming a Sell Limit Order authorizes reserving target gold quantities from the trading account until execution, expiry, or cancellation.
3.3. Order expiry or cancellation releases withheld funds or reserved gold units back to the customer's account.
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Executed Limit Orders
4.1. Pending Orders become Executed Limit Orders under the following conditions:
4.1.1 Buy Limit Orders execute when gold prices drop to or below limit price with sufficient matching sell volume.
4.1.2 Sell Limit Orders execute when gold prices rise to or above limit price with sufficient matching buy volume.
4.2. Upon execution, MTSGold x DIME automatically confirms the transaction, creating binding settlement duties for the customer.
4.3. Both parties must perform prompt payment or gold delivery upon execution to finalize trading.
4.4. Defaulting on Buy Limit Executed payments restricts further purchases or gold withdrawals until full settlement.
4.5. Defaulting on Sell Limit Executed gold deliveries restricts account trading or withdrawals until delivery completion.
4.6. Unsettled executed orders require customer remediation within 3 business days of execution notification. The Company will send payment/delivery reminders via phone or email.
4.7. If the customer remains uncontactable or defaults after 3 business days, the Company is authorized to liquidate held gold at market prices after 17:00 hrs. on the 4th business day without notice.
4.8. Remaining liabilities post-liquidation constitute default, accelerating all account debts and barring future service access alongside legal enforcement action.
4.9. Limit Orders execute chronologically. Executed prices across orders may vary. Orders exceeding market liquidity depth are automatically canceled without customer dispute rights.
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Canceled Limit Orders
5.1. Unexecuted Limit Orders automatically expire at session end without notification. Customers must verify order statuses independently.
5.2. Pending Orders may be canceled due to app disruptions, extreme price gaps, account blocks/suspensions, or other operational necessities without Company liability.
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Customer Obligations
6.1. Customers must actively monitor Limit Order statuses. Any order discrepancies or unexpected cancellations must be reported immediately via email.
6.2. Placing Limit Orders creates legally binding obligations. Customers must fulfill all execution terms through transaction completion.
6.3. Customers must verify order parameters prior to submission. Information or staff commentary does not constitute advice, and customers assume full responsibility for investment decisions.
6.4. Customers must comply with all general provisions of these Terms alongside specific Limit Order rules.
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Discrepancies or Changes in Limit Orders
7.1. Pending Orders may be canceled without prior notice during system emergencies or rapid market moves without Company liability.
7.2. If technical issues prevent manual cancellation of Pending Orders, the customer must notify the Company immediately. If the order executes upon system restoration, settlement obligations remain binding.
7.3. If an order executes and settlements are processed but the app misdisplays status as Pending, cancellation requests will be rejected and settlement obligations remain mandatory.
7.4. Delayed execution notifications caused by system glitches do not entitle customers to price discrepancy claims against the Company.
7.5. Erroneous executions resulting from incorrect price displays relative to market rates are voidable by the Company upon discovery without customer claims.
7.6. In cases under Clause 7.5 where valid execution confirmations are delayed, the Company will rectify order statuses promptly without customer liability recourse.