PayRaX is a digital asset trading platform that enables users to buy, sell, and exchange cryptocurrencies securely. This Trade Policy outlines the rules, obligations, and procedures governing all trading activities on the PayRaX ecosystem.

2. Regulatory Compliance

PayRaX operates in compliance with applicable laws and regulations, including:

Licensing requirements by the Securities and Exchange Commission (SEC)

Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) laws

Know Your Customer (KYC) requirements

All users must comply with identity verification before trading.

Regulated exchanges in Nigeria are required to implement KYC and operate under SEC oversight �.

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3. User Eligibility

To trade on PayRaX, users must:

Be at least 18 years old

Complete full KYC verification (ID, address, biometric where required)

Not be on any sanctions or restricted lists

PayRaX reserves the right to suspend or terminate accounts that fail compliance checks.

4. Trading Rules

4.1 Order Types

PayRaX supports:

Market Orders (instant execution)

Limit Orders (price-controlled execution)

Stop Orders (risk management)

4.2 Trade Execution

Trades are executed at the best available market price

During high volatility, execution prices may vary

Orders without sufficient balance will be automatically rejected or cancelled

4.3 Market Integrity

Users must not:

Manipulate markets (pump & dump, spoofing, wash trading)

Use bots for unfair trading advantage without authorization

Exploit system vulnerabilities

5. Fees & Charges

PayRaX applies:

Trading fees (maker/taker model)

Withdrawal fees

Deposit fees (if applicable)

All fees are transparently displayed before confirming transactions.

6. Anti-Fraud & AML Policy

PayRaX maintains strict monitoring systems to detect:

Fraudulent transactions

Suspicious trading patterns

Money laundering activities

Unregulated trading environments increase fraud risks, which PayRaX actively prevents through monitoring and verification �.

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Accounts involved in suspicious activity may be:

Frozen

Reported to authorities

Permanently banned

7. Fiat & Payment Policy (Nigeria Focus)

Users must only fund accounts through approved channels

Transactions must comply with CBN and SEC guidelines

PayRaX discourages unverified peer-to-peer (P2P) trading due to regulatory risks

Nigeria is moving toward regulated crypto trading and discouraging informal P2P systems �.

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8. Risk Disclosure

Trading cryptocurrencies involves significant risk, including:

Price volatility

Liquidity risks

Regulatory changes

Users are solely responsible for their trading decisions. PayRaX does not guarantee profits.

9. Tax Compliance

Users are responsible for reporting and paying applicable taxes on profits.

Nigeria is introducing structured crypto taxation, including capital gains obligations �.

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PayRaX may provide transaction history to assist with tax reporting.

10. Security Measures

PayRaX implements:

Two-Factor Authentication (2FA)

Encryption and secure wallet storage

Continuous monitoring of system vulnerabilities

Users must safeguard their login credentials.

11. Dispute Resolution

In case of disputes:

Users must contact PayRaX support

Internal review will be conducted

Final decisions will comply with regulatory frameworks

12. Suspension & Termination

PayRaX reserves the right to:

Suspend accounts for violations

Cancel suspicious trades

Terminate access without prior notice in severe cases

13. Amendments

PayRaX may update this Trade Policy at any time. Users will be notified of significant changes.

14. Contact Information

Email: support@smartdevelopers.com.ng

Website: www.payrax.smartdevelopers.com.ng