Terms of Service

1. Definitions

• "Xylos," "we," "us," "our" refers to Xylos Global Ltd., a company incorporated and registered in the Republic of Cyprus, and its subsidiaries, affiliates, and successors.
• "User," "you," "your" refers to any individual or entity that accesses or uses the Platform.
• "Platform" means the Xylos technology platform accessible via xylos.io (and its subdomains), mobile applications, APIs, WebSocket feeds, and all related technology services.
• "Digital Derivative Contract" means a crypto-settled contract whose value is mathematically derived from a Reference Price. Digital Derivative Contracts are settled exclusively in Virtual Digital Assets (USDT or other designated settlement tokens). They do not represent, confer, or involve ownership, custody, physical delivery, or any proprietary interest in any underlying asset, currency, security, commodity, index, or financial instrument.
• "Reference Price" means an external market price, index level, or benchmark rate sourced from third-party data providers and used solely for the mathematical calculation of the settlement value of a Digital Derivative Contract. Reference Prices may be derived from cryptocurrency exchanges, foreign exchange rate feeds, equity index providers, commodity benchmarks, or any other publicly available data source. The inclusion of a Reference Price does not constitute trading, dealing, or transacting in the underlying asset.
• "Execution Environment" means the Platform's proprietary order matching, risk management, and settlement system within which all Digital Derivative Contracts are created, executed, and settled. The Execution Environment operates independently of external exchanges, brokerages, or regulated trading venues.
• "Virtual Digital Asset" ("VDA") has the meaning ascribed under applicable law, including but not limited to the definition under Section 2(47A) of the Indian Income Tax Act, 1961, and broadly refers to any information, code, number, or token generated through cryptographic means which provides a digital representation of value.
• "Professional Evaluation Program" means the challenge and assessment services offered by Xylos wherein participants demonstrate trading competency within defined parameters using a simulated environment, in consideration of an evaluation service fee.
• "Funded Account" means a trading account with Platform-allocated capital that may be granted, at Xylos's sole discretion, to participants who successfully complete all phases of a Professional Evaluation Program.

2. Nature of Services & Regulatory Status

All services provided on the Platform involve exclusively Virtual Digital Assets and crypto-settled Digital Derivative Contracts. Specifically:

• No underlying asset trading: The Platform does not facilitate the purchase, sale, exchange, or delivery of any fiat currency, security, equity, bond, commodity, precious metal, energy product, or any other non-VDA asset. No transaction on the Platform results in ownership or delivery of any underlying asset.
• Reference Prices only: Where a Digital Derivative Contract references an external price (such as a forex rate, equity index level, or commodity benchmark), the Reference Price is used solely as a mathematical input for settlement calculation. It does not constitute forex dealing, securities trading, or commodity trading.
• Crypto-settled: All positions, profits, losses, margins, and settlements are denominated and settled exclusively in USDT or other designated Virtual Digital Assets. No fiat currency is used for settlement at any point.
• Counterparty model: Xylos or its designated participants may act as counterparty to your Digital Derivative Contracts within the Execution Environment. This is an over-the-counter arrangement, not an exchange-traded transaction.
• Technology provider: Xylos provides the technology infrastructure — including the matching engine, risk management systems, charting tools, APIs, and user interface — as a technology service. Xylos does not provide investment advice, portfolio management, or financial planning services.

Xylos is registered as a Virtual Digital Asset Service Provider with the Financial Intelligence Unit of India (FIU-IND) in accordance with the Prevention of Money Laundering Act, 2002 (PMLA) and applicable rules thereunder. This registration pertains to AML/CFT compliance obligations and does not constitute authorization to conduct regulated financial services such as securities dealing, forex dealing, or commodity derivatives trading.

3. Service Description

The Platform enables users to enter into crypto-settled Digital Derivative Contracts that reference prices from the following asset classes:

• Cryptocurrencies (BTC, ETH, SOL, and 200+ virtual digital assets)
• Foreign exchange rate references (EUR/USD, GBP/USD, and other currency pair benchmarks)
• Equity index references (US500, US100, US30, EU50, JP225, and other index benchmarks)
• Commodity and energy references (crude oil, natural gas, copper benchmarks)
• Precious metal references (gold, silver, platinum benchmarks)
• Individual equity references (US and global equity price benchmarks)

To be absolutely clear: When you open a position referencing "EURUSD" on the Platform, you are entering into a crypto-settled Digital Derivative Contract that uses the EUR/USD exchange rate as a Reference Price for settlement calculation. You are not buying or selling euros, dollars, or any fiat currency. The same principle applies to all non-crypto Reference Prices available on the Platform.

Leverage of up to 5,000x is available on select contracts. Not all leverage levels are available on all instruments. Available leverage varies by asset class, market conditions, and your account tier.

4. Eligibility

To use the Platform, you must:

• Be at least 18 years of age, or the age of legal majority in your jurisdiction, whichever is greater.
• Have the legal capacity to enter into a binding agreement.
• Not be a resident of, or located in, a Restricted Jurisdiction (see below).
• Not be subject to any sanctions administered by OFAC, the United Nations, the European Union, or any other applicable sanctions authority.
• Not be using the Platform on behalf of a sanctioned person or entity.
• Independently determine that your use of the Platform complies with all laws and regulations applicable in your jurisdiction.

Restricted Jurisdictions: The Platform is not available to residents or persons located in the following jurisdictions:

This list is not exhaustive and may be updated at any time. It is your sole responsibility to determine whether your use of the Platform is lawful in your jurisdiction. Xylos makes no representation that the services offered on the Platform are appropriate or available for use in any particular jurisdiction. Xylos reserves the right to restrict access from any jurisdiction at any time without prior notice.

5. Account Registration & Security

To access the Platform's services, you must create an account by providing a valid email address and creating a password. You agree to:

• Provide accurate, current, and complete information during registration.
• Maintain and promptly update your account information.
• Keep your password and two-factor authentication (2FA) credentials strictly confidential.
• Enable two-factor authentication (strongly recommended).
• Notify Xylos immediately of any unauthorized access to your account.
• Not share, sell, transfer, or allow third-party access to your account.
• Not create multiple accounts for the same individual.

You are solely responsible for all activity that occurs under your account. Xylos shall not be liable for any loss arising from unauthorized use of your account where you have failed to maintain adequate security of your credentials.

KYC/AML Compliance: In accordance with our obligations under the Prevention of Money Laundering Act, 2002 (PMLA) and applicable FIU-IND guidelines, we may require you to complete identity verification (Know Your Customer) procedures before enabling certain features, including withdrawals and higher transaction limits. You agree to provide truthful identification documents and consent to verification through authorized third-party providers.

6. Execution Environment & Counterparty Disclosure

All Digital Derivative Contracts are executed within the Platform's proprietary Execution Environment. You acknowledge and agree that:

• Counterparty: Xylos or its designated market participants act as counterparty to your trades. This means that Xylos may profit when you incur a loss, and vice versa. This creates an inherent conflict of interest which you expressly acknowledge and accept.
• Not an exchange: The Execution Environment is not a regulated securities exchange, recognized trading venue, multilateral trading facility, alternative trading system, or any equivalent. Orders are not routed to external markets.
• Price formation: Contract prices within the Execution Environment are derived from Reference Prices sourced from third-party data providers. Xylos may apply spreads, funding rates, and other adjustments as disclosed on the Platform. Prices may differ from prices available on external exchanges or venues.
• No external settlement: No transaction on the Platform results in settlement on any external exchange, clearinghouse, or blockchain (other than for VDA deposits and withdrawals). Settlement occurs entirely within the Platform's internal ledger.
• Liquidation: Positions may be automatically liquidated when margin is insufficient. Liquidation prices are determined by the Execution Environment's risk engine. You may lose your entire margin.

7. Trading Risks & Disclaimers

By using the Platform, you acknowledge and agree that:

• Trading Digital Derivative Contracts involves substantial risk of loss, including the possibility of losing your entire deposited balance.
• Leverage amplifies both profits and losses. A 5,000x leveraged position can be liquidated by a price movement of as little as 0.02%.
• Reference Prices may be volatile and subject to sudden, extreme movements caused by market events, geopolitical developments, regulatory changes, or technical failures.
• Liquidation of your position may occur automatically when your margin is insufficient, resulting in loss of your margin and any unrealized profits.
• Past performance is not indicative of future results.
• Xylos does not provide investment, financial, tax, or legal advice. All information on the Platform (including charts, indicators, AI tools, signals, and analytics) is for informational purposes only.
• You are solely responsible for your trading decisions and their consequences.
• You have read and understood the Risk Disclosure Statement.

8. Professional Evaluation Program (Challenges)

Xylos offers Professional Evaluation Programs ("Challenges") that allow participants to demonstrate trading competency within defined parameters. These are professional assessment services, not investment schemes or games of chance. The following terms apply:

• Nature of service: The evaluation fee compensates Xylos for providing access to the assessment infrastructure, technology, simulated execution environment, performance tracking, and evaluation services. It is a service fee, not a wager, stake, or investment.
• Simulated environment: All Challenge accounts operate in a simulated execution environment using Reference Prices. No real capital is at risk. Results in the simulated environment may differ materially from results achievable in live markets due to differences in liquidity, execution, and slippage.
• Entry fees: Evaluation service fees are non-refundable once the evaluation has been activated and assessment has commenced. Fees are consideration for the evaluation service rendered.
• Evaluation criteria: Each program has defined performance parameters including profit targets, maximum drawdown limits, daily loss limits, minimum trading days, and other objective criteria disclosed at enrollment. Participants must satisfy all criteria to pass the evaluation.
• Funded accounts: Successful completion of all evaluation phases may result in the discretionary grant of a Funded Account. The grant of a Funded Account is at Xylos's sole discretion and is not guaranteed. Funded Accounts use Platform-allocated capital; participants do not invest their own funds in Funded Accounts.
• Performance fees: Performance-based compensation (up to 90% of net profits) may be paid to participants who generate profits on Funded Accounts. Payouts are subject to verification, minimum thresholds, and processing times.
• Termination: Xylos reserves the right to terminate any evaluation or Funded Account that violates program rules, engages in prohibited strategies (e.g., latency exploitation, tick scalping against simulated data), or is suspected of fraud or manipulation.
• Not a game: The Professional Evaluation Program is a skill-based professional assessment of trading competency. Outcomes are determined by the participant's demonstrated ability to analyze markets, manage risk, and execute trading decisions within defined parameters. It is not a lottery, game of chance, betting activity, or gambling in any form.

9. Deposits, Withdrawals & Fiat Services

• VDA-denominated: All account balances, deposits, withdrawals, margins, and settlements on the Platform are denominated in Virtual Digital Assets (primarily USDT). Xylos does not maintain fiat currency accounts on behalf of users.
• On-chain transactions: VDA deposits and withdrawals are processed on supported blockchain networks (Ethereum, Tron, and others as made available). Blockchain network fees are borne by the user.
• Third-party fiat services: Where fiat-to-VDA conversion services are available (e.g., INR to USDT), these are provided by independent third-party payment processors and are subject to their own terms, conditions, fees, regulatory authorizations, and compliance obligations. Xylos is not a party to the fiat conversion transaction and does not hold, process, or transmit fiat currency.
• Xylos may impose minimum deposit/withdrawal amounts and daily/weekly withdrawal limits.
• Withdrawal requests are processed after internal compliance review. Xylos reserves the right to delay or refuse withdrawals where there are reasonable grounds for suspicion of fraud, money laundering, or breach of these Terms.
• Trading fees (maker/taker), funding rates, and any other applicable fees are disclosed on the Platform and may be updated from time to time.
• Promotional credits and bonuses are subject to separate terms and may have expiry dates and conditions.

10. Card Services

Xylos may facilitate access to virtual and/or physical prepaid debit cards through third-party card issuing partners. By applying for or using a card facilitated through the Platform, you agree to the following:

• Third-party issuers: Cards are issued by licensed third-party financial institutions. Xylos acts as a technology facilitator and program manager, not as the card issuer. Use of the card is subject to the issuer's terms and conditions.
• Prepaid, not credit: Cards are prepaid debit instruments. They do not extend credit. You can only spend up to the loaded balance.
• Loading: Card balances are funded from your Platform VDA balance. Loaded funds are converted from USDT to the card's denominated fiat currency at the prevailing rate by the card issuer or its payment processor.
• Fees (monthly maintenance, transactions, foreign exchange) may apply as disclosed at card issuance.
• Enhanced KYC verification is required for card issuance.
• Xylos or the card issuer may suspend or terminate your card at any time for compliance, fraud prevention, or regulatory reasons.

11. Prohibited Activities

You agree not to engage in, facilitate, or attempt any of the following:

• Market manipulation: Including wash trading, spoofing, layering, painting the tape, cornering, or any conduct designed to artificially influence prices or order book depth.
• Collusion: Coordinating trading activity with other users to manipulate prices or exploit the Platform.
• Exploitation: Using bugs, errors, vulnerabilities, latency, or system delays to gain an unfair advantage.
• Unauthorized access: Accessing accounts, systems, or data without authorization; reverse-engineering the Platform.
• Financial crime: Using the Platform for money laundering, terrorist financing, sanctions evasion, tax evasion, or any other financial crime.
• Self-referral abuse: Creating multiple accounts or using sham referrals to earn referral bonuses or IB commissions.
• Impersonation: Impersonating Xylos staff, other users, or any third party.
• Unauthorized automation: Using automated trading software except through the officially provided API with valid API keys.
• Circumvention: Using VPNs, proxies, or other tools to circumvent geographic restrictions, access controls, or rate limits.

Violation of this section may result in immediate account suspension, forfeiture of balances, and referral to law enforcement authorities.

12. Intellectual Property

All content, software, algorithms, designs, logos, trademarks, trade names, APIs, documentation, and materials on the Platform are the exclusive property of Xylos or its licensors and are protected by applicable intellectual property laws.

You may not:

• Copy, reproduce, modify, or distribute any part of the Platform without written consent.
• Use the Xylos name, logo, or branding in any manner that suggests endorsement or affiliation without prior authorization.
• Scrape, crawl, or extract data from the Platform beyond what is provided through the official API.
• Decompile, disassemble, or reverse-engineer any software used in the Platform.

13. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW:

• The Platform is provided on an "AS IS" and "AS AVAILABLE" basis without warranties of any kind, whether express, implied, or statutory, including but not limited to implied warranties of merchantability, fitness for a particular purpose, and non-infringement.
• Xylos shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising out of or in connection with your use of the Platform, including but not limited to: trading losses, loss of profits, loss of data, loss of business opportunity, system failures, unauthorized access, or interruption of service.
• Xylos's total aggregate liability for all claims arising under these Terms shall not exceed the total fees paid by you to Xylos during the twelve (12) months immediately preceding the event giving rise to the claim.
• Xylos is not responsible for losses caused by: blockchain network congestion or failures, third-party payment processor errors, smart contract vulnerabilities in external protocols, Reference Price data feed inaccuracies, force majeure events, or actions of regulatory authorities.

14. Indemnification

You agree to indemnify, defend, and hold harmless Xylos and its directors, officers, employees, agents, and affiliates from and against any and all claims, liabilities, damages, losses, costs, and expenses (including reasonable legal fees) arising out of or in any way connected with: (a) your access to or use of the Platform; (b) your violation of these Terms; (c) your violation of any applicable law or regulation; (d) your infringement of any intellectual property or other rights of any third party; or (e) any regulatory inquiry, investigation, or enforcement action arising from or related to your use of the Platform in your jurisdiction.

15. Tax Obligations

You are solely responsible for determining and fulfilling all tax obligations arising from your use of the Platform, including but not limited to:

• Income tax on profits from Digital Derivative Contracts, including any applicable tax on Virtual Digital Assets (such as the 30% tax under Section 115BBH of the Indian Income Tax Act, 1961, where applicable).
• Tax Deducted at Source (TDS) obligations, including 1% TDS on VDA transfers under Section 194S of the Indian Income Tax Act, 1961, where applicable.
• Goods and Services Tax (GST) or value-added tax on service fees, where applicable.
• Any other taxes, duties, or levies applicable in your jurisdiction.

Xylos does not provide tax advice. Consult a qualified tax professional regarding your specific obligations.

16. Dispute Resolution & Arbitration

Mandatory Arbitration: Any dispute, controversy, or claim arising out of or relating to these Terms, or the breach, termination, or validity thereof, shall be finally resolved by binding arbitration administered by the International Chamber of Commerce (ICC) in accordance with its Arbitration Rules then in effect.

• The arbitration shall be conducted by a single arbitrator.
• The seat of arbitration shall be Nicosia, Cyprus (or such other location as Xylos designates).
• The language of arbitration shall be English.
• The arbitrator's award shall be final and binding and may be entered as a judgment in any court of competent jurisdiction.

Class Action Waiver: You agree that any claims shall be brought in your individual capacity only, and not as a plaintiff or class member in any purported class, consolidated, or representative proceeding. The arbitrator may not consolidate more than one person's claims and may not preside over any form of class or representative proceeding.

Exception: Either party may seek injunctive or other equitable relief in any court of competent jurisdiction to prevent the actual or threatened infringement or misappropriation of intellectual property rights.

17. Governing Law

These Terms and any dispute arising hereunder shall be governed by and construed in accordance with the laws of the Republic of Cyprus, without regard to its conflict of law provisions. Where arbitration does not apply, the courts of Nicosia, Cyprus shall have exclusive jurisdiction.

18. Termination & Suspension

Xylos may, at its sole discretion, suspend or terminate your account and access to the Platform at any time, with or without cause, with or without notice, including but not limited to the following circumstances:

• Breach of these Terms or any applicable law.
• Suspected fraudulent, abusive, or illegal activity.
• Failure to complete required KYC/AML verification.
• Extended inactivity (accounts inactive for 12+ months may be subject to dormancy procedures).
• Regulatory requirements or orders from competent authorities.
• Changes in applicable law that render continued provision of services unlawful.

Upon termination, any open positions may be closed, and remaining VDA balances (less any fees or amounts owed) will be made available for withdrawal, subject to compliance verification.

19. Modifications to These Terms

Xylos reserves the right to modify these Terms at any time. Material changes will be communicated via email notification and/or a prominent notice on the Platform at least fourteen (14) days before taking effect. Your continued use of the Platform after the effective date of any modification constitutes your acceptance of the modified Terms. If you do not agree with the modified Terms, you must discontinue use of the Platform and close your account.

20. Severability

If any provision of these Terms is held to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect. The invalid or unenforceable provision shall be modified to the minimum extent necessary to make it valid and enforceable while preserving the original intent.

21. Entire Agreement

These Terms, together with the Privacy Policy, Risk Disclosure Statement, and any additional terms applicable to specific services (e.g., Professional Evaluation Program rules, card issuer terms), constitute the entire agreement between you and Xylos regarding the use of the Platform and supersede all prior agreements, understandings, and communications.

22. Contact Information

For questions, concerns, or legal inquiries regarding these Terms: