OKX EEA X-perp Voucher
1. Overview
The X-Perps Voucher (the "Voucher") is a promotional reward product issued by OKX Markets Europe Ltd, governed by these Terms and Conditions (these "Terms") and is offered under the Terms of Service — EEA ("OKX", "we", "our", "us" or "Platform"). The Voucher enables eligible users to open a single, fully-isolated perpetual futures position on OKX's X-Perps platform using OKX-provided funds, at no cost to the user and with no exposure of the user's personal assets.
By activating a Voucher, you agree to be bound by these Terms. Any term used but not defined in these Terms shall have the meaning given to it in the Terms of Service — EEA.
The Voucher is not currency, has no monetary value outside of its designated trading use and accepted only for the specified purpose stated herein, cannot be withdrawn, and is non-transferable between accounts and may not be assigned to third parties.
2. Definitions
In these Terms, the following words shall have the following meanings respectively attributed to them. Any term used but not defined in these terms shall have the meaning given to it in the Terms.
"Activation Period" means the period within which an eligible user must activate the Voucher, as specified on the Voucher card in the Rewards Centre in the OKX app. A Voucher that is not activated within its Activation Period shall lapse automatically.
"Eligible User" means a user who satisfies all eligibility conditions set out in Clause 3 at the time of activation of the Voucher.
"Expiry Date" means the date and time falling 7 days after the Voucher is activated, unless otherwise specified via the Rewards hub. Upon the Expiry Date, the Voucher and any associated open position will be automatically and forcibly closed by the system, as displayed on the Voucher card and on the trading interface in the OKX App.
"Position" means the isolated X-Perps perpetual futures position opened by an Eligible User using the Voucher as the sole margin.
"Profits" means the realised net gains (excluding the Voucher collateral itself) credited to the user's personal USDC funding account following a full close of a Voucher-funded Position where your Position makes a profit.
"Usage Period" means the 7-day period commencing upon Voucher activation during which the Voucher may be used to open a Position and any open Position must be closed.
"Voucher Amount" means the face value of the Voucher, denominated in USDC, as displayed on the Voucher card at the time of issuance. The maximum Voucher Amount per user is 250 USDC.
"X-Perps" means the perpetual futures products issued by OKX, available on the OKX platform designated as eligible for use with the Voucher.
3. Eligibility
3.1 To be eligible to receive and activate a Voucher, a user must: (i) hold a verified OKX account and have completed Account Registration and Identity Verification in line with the Terms (ii) not be an employee of OKX; (iii) be resident in an EEA country; and (iv) satisfy any additional eligibility conditions specified in the campaign or promotional activity through which the Voucher is issued.
3.2 KYC sub-accounts are not eligible to participate and their activity will not be counted. Participation is restricted to the user's main account only. Earnings or activities of sub-accounts will not be counted toward Voucher eligibility or usage.
3.3 OKX reserves the right to verify eligibility at any stage. Users who do not satisfy all eligibility conditions at the time of activation or during the Usage Period may have their Voucher revoked and any associated Profits cancelled. Where Profits have already been credited to a User's account prior to the determination of ineligibility, OKX shall have the right to recover such Profits to the extent they are directly attributable to use of the Voucher. OKX will provide written notice before exercising such right. It applies only to Profits derived from positions opened using the Voucher during the Usage Period. OKX may effect recovery by deduction from the User's available account balance.
3.4 The Voucher is personal to the account holder and is non-transferable. It cannot be moved to another account or gifted to another user.
4. Activation
4.1 The Voucher will be airdropped to Eligible Users' accounts and users will be notified by email and/or in-app notification. It will be visible in the Rewards Centre under Rewards -> My Rewards -> X-perp Voucher.
4.2 The Voucher must be activated by the user before the end of the Activation Period. After successful activation, the Voucher balance will appear in the user's trading account separately from their personal USDC balance and will not be included in total USDC equity.
4.3 A user may only hold one activated Voucher at a time. If a user activates a new Voucher while an existing Voucher is already active, the existing Voucher will be de-activated. De-activated Vouchers can no longer be used and will not be reinstated.
5. Voucher Usage and Position Opening
5.1 The Voucher may only be used to open a single X-Perps Position. The full Voucher Amount must be utilised in a single position-opening action. Partial use or retention of an unused Voucher balance is not supported.
5.2 Positions opened with the Voucher are subject to a maximum leverage of 5x. The applicable leverage is selected by the user at the time of opening a Position, subject to the maximum co-efficient set out in these terms.
5.3 Voucher-funded Positions operate exclusively under isolated margin mode, regardless of the account mode otherwise selected by the user (e.g. futures mode or multi-currency mode). The Voucher collateral is locked as isolated margin for that Position only.
5.4 Positions funded by the Voucher are tracked independently from any user-funded positions. The Voucher-funded Position and any user-funded positions have no margin interaction and no collateral impact on each other. User-owned assets are not combined with, or used to supplement, the Voucher-funded Position under any circumstances.
5.5 Position size is determined by the formula: Voucher Amount × Selected Leverage Multiplier. Trading fees applicable to the Position, if any, will be set out in the relevant product terms.
6. Position Management
6.1 No additional margin or personal funds may be added to a Voucher-funded Position at any stage. If the market moves far enough against your position, we will automatically close it to prevent further losses, in accordance with the Terms.
6.2 Voucher-funded Positions may only be fully closed. Partial position closure, partial take-profit, and position scaling-down are not supported. We only allow a full close via market order.
7. Expiry and Forced Closure
7.1 Each Voucher is subject to a Usage Period, unless otherwise specified on the Voucher card. The Expiry Date is clearly displayed in the Voucher card in the Rewards Centre and on the active Position page in the OKX app.
7.2 OKX will send pre-expiry reminder notifications to the user prior to the Expiry Date, including:
a reminder sent 24 hours before expiry; and
a reminder an hour before expiry.
Notifications may be delivered via push notification, in-app messaging, or other applicable notification channels. It is the user's responsibility to monitor their Position and act accordingly.
7.3 If a Voucher-funded Position remains open at the Expiry Date, the system will automatically execute a full market-order close at the prevailing market price. This forced closure will be recorded in the user's trade history as "Auto-Expired Close".
7.4 If the user has already closed the Position prior to the Expiry Date, the Position will be settled in accordance with the Terms.
7.5 OKX is not responsible for any adverse profit-and-loss outcome arising from a forced expiry close of the Position, including any unfavourable market price at the time of the auto-close of the Position.
8. Profit-and-Loss Settlement
8.1 Loss scenarios. If the Voucher-funded Position results in a loss (including through liquidation or forced expiry close): (i) the Voucher collateral is consumed or voided to the extent of the loss; (ii) the user does not bear any losses beyond the Voucher Amount; and (iii) no user-owned assets are deducted. The user's personal USDC balance and all other personal assets remain fully unaffected.
8.2 Profit scenarios. If the Voucher-funded Position generates realised Profits: (i) the net Profits are automatically credited to the user's personal USDC funding account after the Position is fully closed; and (ii) the original Voucher collateral is voided after settlement and is not returned to the user.
8.3 The user must make a deposit as may be instructed from time to time on the Platform in order to withdraw any Profits earned. Profits cannot be withdrawn until the applicable deposit has been made in accordance with the applicable terms.
8.4 OKX is not responsible for any fluctuations in the value of digital assets between the time a Position is closed and the time Profits are credited or withdrawn.
9. Risk Controls and Anti-Fraud
9.1 During the Voucher activation and Usage Period, OKX will closely monitor participant behaviour to prevent cheating or abnormal behaviour, including but not limited to: registering multiple accounts; using other people's accounts or identity information; providing false KYC information; engaging in wash trades or laundering trades; violating these Terms; and any other activities of an illegal, fraudulent, or harmful nature.
9.2 If any such conduct is detected, or where OKX has reasonable grounds to suspect that such conduct has occurred or is occurring, OKX reserves the right to: disqualify the relevant user; revoke any Voucher issued; cancel or reverse any Profits; and take such other action as it deems appropriate. Disqualified users forfeit all associated rights under these Terms.
9.3 OKX's risk controls may be applied at any stage, including but not limited to activation, position opening, position management, and settlement. Where OKX detects user conduct set out in the Terms, OKX may, at its sole discretion, reject, reverse, withhold or cancel Profits, or take such other action as it considers appropriate. OKX may also require further identity verification before processing any settlement.
9.4 Users who believe a risk decision has been applied in error may appeal via OKX customer support. Appeals are handled on a case-by-case basis and OKX's decision on any appeal shall be final, conclusive, and binding.
10. Platform Rules
Any and all applicable taxes, duties, and additional fees and expenses related to the receipt, activation, use, and settlement of a Voucher are the sole responsibility of the individual user.
OKX reserves the right to exclude any user from receiving or using a Voucher where OKX reasonably determines that grounds exist to do so, including where: (i) the user has breached these Terms; (ii) OKX has reasonable grounds to suspect fraud, money laundering, or other unlawful conduct; (iii) applicable regulatory requirements prevent or restrict OKX from allowing the user to continue; or (iv) OKX's risk controls flag the account. OKX shall, where reasonably practicable, provide prior notice of exclusion, and where immediate action is required, OKX may act without prior notice and will endeavour to notify the user as soon as reasonably practicable.
The X-Perps Voucher and any associated campaign activity is not: (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy or sell digital assets; or (iii) financial, accounting, legal, or tax advice. You should carefully consider whether trading or holding digital assets or financial instruments is suitable for you in light of your financial condition and risk tolerance. Digital assets and financial instruments are subject to market volatility, involve a high degree of risk, and can lose value. Past performance is not indicative of future results. OKX is not responsible for any losses arising from your use of the Voucher. For more information, please refer to our Risk Disclosure.
OKX reserves the right to amend, suspend, or terminate the Voucher programme or these Terms at any time, including modifying eligibility conditions, adjusting Voucher parameters, or cancelling outstanding Vouchers. Where OKX makes a material change, OKX will endeavour to notify affected users before the change takes effect. Where OKX exercises any discretion under these Terms, it shall do so in a reasonable manner.
In the event of any dispute regarding the interpretation or application of these Terms, users are encouraged to contact OKX customer support in the first instance. For further dispute resolution, please refer to the dispute resolution provisions of the Terms.
OKX is not responsible for technical, graphic, typographical, or editorial errors or omissions. For more information, please visit www.okx.com.
Where any discrepancy arises between translated versions of these Terms and the English version, the English version shall prevail.