Dis document dey explain di terms and conditions wey dey apply to your funds and transfers, your chargeback and retrieval requests, di bonuses wey we fit give you, and Deriv P2P services. E form part of di agreement between you and Deriv, and you suppose read am together wit our General Terms of Use for clients (di "General Terms"). Any defined terms wey dem use for dis funds and transfers terms go get di meaning wey dem give dem for di General Terms.
1. Rules and restrictions
1.1. You no suppose use your money wallet as banking facility. Put money inside your money wallet only if you get intention to trade.
1.2. You no must make deposits and withdrawals without placing trades wey dey proportionate to di amounts wey you deposit and withdraw. If you do so, we fit, without notice, adjust your account to recover any losses wey result from am, and we fit, as we decide, suspend or close your account. To make dis matter clear, our rights under Clause 1.2 no affect any Charge wey dem apply under Clause 2.10 of di General Terms, and any such Charge no be remedy for breach of dis Clause.
1.3. We reserve di right to reject your payouts without notice.
1.4. We no go pay interest on any amount wey you deposit wit us.
1.5. You must keep di balance for your wallet below di maximum cash balance for wallet. You must withdraw funds make you no exceed your wallet limit.
1.6. Your Deriv account fit get limit for:
1.6.1. Di amount or volume of transactions wey you fit carry out for your account; and/or
1.6.2. Di amount or value of funds or assets (including virtual assets) wey you fit transfer enter or comot from your account,
for each case within one period (for example, daily). Any limit wey apply dey show for your Deriv account.
1.7. We get di right to change any transaction limit wey apply to your account at any time, based on our full discretion.
1.8. We no go ever use di money for your wallet take trade on your behalf.
1.9. Na only you go dey liable and responsible for any deposits and withdrawals wey you make enter and comot from your wallet.
1.10. You fit use any payment methods wey dey available to fund your wallet. We no get any affiliation wit any of di payment method providers.
1.11. You must request withdrawals through di same payment method wey you use for deposits.
1.12. Payment methods wey dey available fit change at any time. Di terms for using payment methods fit change too. Na your responsibility to dey informed about which payment methods dey available to you and dia terms of use.
1.13. If you use any third-party service provider for any purpose, including but no be only to make any deposits or withdrawals, na only you go dey responsible to make sure say your account dey safe.
1.14. You fit transfer funds between different currencies for your wallet. Make you note say adjustments to your account wey favour us fit apply to transfers between different currencies. Such adjustments na Charge, as dem describe am for Clause 2.10 of di General Terms.
1.15. Third-party providers dey determine di exchange rates wey dem apply to transactions, based on di market rates wey dey at di time of di transaction, and dem fit change from time to time. Dis rates dey based on di local currency or di currency wey you select for your wallet.
1.16. You fit transfer money between your wallets and your trading accounts.
1.17. Your portfolio value, wey dem show for USD, na estimate only. E represent di total of di balance for your wallet and di current market value of your open positions, wey dem convert to USD at di current market rate.
1.18. You must not share any of your payment methods wit anoda client. We get di right to block, cancel, or suspend your account if you share any of your payment methods wit anoda client.
1.19. You must neva take loans to fund your account.
1.20. You must comply wit any currency, exchange, or capital controls for di jurisdictions wey you dey live.
1.21. Virtual asset deposits
1.21.1. You fit deposit supported virtual assets to di unique deposit address wey we provide for dat purpose.
1.21.1.1. If you bypass di standard cashier interface (for example, if you start, transfer, or complete a deposit directly to a third-party payment service provider (PSP) address or Company wallet outside di official step-by-step transaction flow wey dey inside di platform user interface, or if you skip dat flow), e go count as breach of these terms.
1.21.1.2. If person bypass di cashier transaction process (as Clause 1.21.1.1 define am), we get di right, based on our sole discretion, to refuse to credit your account, or to credit am only afta we don satisfy say di source of di funds and who own dem clear. If you submit forged, duplicate, shared, or recycled proof of transfer or transaction hashes — whether na for one account or across multiple accounts — e go count as breach of these Terms. If dis one happen, we get di right to terminate all di accounts wey connect to am, block further access, and invalidate any balance or pending withdrawals, without prior notice.
1.21.2. Na your sole responsibility to use di correct deposit address and di correct blockchain network. If you send assets to di wrong address or through network wey we no support (a cross-chain transaction), you go lose those assets permanently, and we no go dey liable for such losses.
1.21.3. Oda possible ways wey you fit lose your virtual assets wen you dey make virtual asset deposit include:
1.21.3.1. Wrong network transactions (if you use network wey no compatible wit di transaction);
1.21.3.2. Smart contract selection errors (mistakes wey fit happen wen you choose or use smart contracts); or
1.21.3.3. Underpayments (if you start a deposit but transfer amount wey no reach di amount wey dem require).
1.21.4. These risks na because of how blockchain technology and di third-party services wey dey handle these transactions work. Since we dey provide virtual asset transaction services through third parties, we no fit control or help recover funds wey loss for these situations. Na your responsibility to check all di transaction details well before you make any deposit. If cross-chain deposit happen, we get di right to ask you to compensate us for any losses if we decide say we go try recover di funds.
1.21.5. Your deposit go reflect for your account once di network don confirm am di number of times wey dem require.
1.21.6. We go monitor transactions for deposits, including when we use third-party blockchain analytics ("KYT Screening"). We get di right to reject deposits from addresses wey dem flag because dem no fall within di level of risk we fit accept.
1.22. Virtual asset withdrawals
1.22.1. You fit request to withdraw supported virtual assets to valid external wallet address.
1.22.2. Na your sole responsibility to make sure say di withdrawal address wey you provide dey correct and e compatible wit di relevant network. We no dey responsible for any loss wey come from withdrawal to address wey no correct or no compatible.
1.22.3. Withdrawals dey subject to security checks and our anti-money laundering policies, including transaction monitoring through KYT Screening. We get di right to block withdrawals to addresses wey dem flag because dem no fall within di level of risk we fit accept.
1.22.4. You dey responsible for any network fees wey dey apply (for example, service fees, administrative processing fees, or withdrawal fees, as dem communicate through di Platform). We get di right to make an adjustment to your account for virtual asset withdrawals so e go reflect network conditions at di time of di withdrawal. Dis one na addition to, and e separate from, any Charge wey dem disclose under Clause 2.10 of di General Terms.
1.22.5. Di time wey e go take before withdrawn funds reflect for your wallet go depend on di processing times of di relevant blockchain network.
1.23. E fit take time before deposits or withdrawals show for your account because of technical issues or oda circumstances wey nobody fit expect, wey we no dey liable for. Some transactions fit need more time to process, including ones wey you submit outside normal business hours. If you experience any delay like dat or get technical problems, contact our support team through live chat make dem help you.
1.24. You acknowledge say, for withdrawals wey you make through card or bank transfer, di time wey e go take before di funds show for your account go depend on di processing time of your bank. For cryptocurrency withdrawals, di time wey e go take before di funds reflect for your wallet go depend on di processing times of di relevant blockchain.
2. Bonuses and promotions
2.1. Based on our sole discretion, we fit offer bonuses or oda promotional incentives to clients wey qualify. Who fit qualify fit depend on your jurisdiction, account status, acquisition channel, verification status, payment method, deposit amount, trading activity, or any oda criteria wey we determine.
2.2. Bonuses no dey available to everybody, and we fit offer dem only for limited periods. We fit amend, suspend, or withdraw any bonus at any time.
2.3. Unless di applicable Promotion Terms state otherwise, bonus funds go reflect for your wallet.
2.4. You no fit withdraw bonus funds. We fit restrict withdrawals until you meet di conditions wey dem set out for di applicable Promotion Terms.
2.5. Bonus conditions fit include trading volume requirements. We go explain for di Promotion Terms how dem dey calculate trading volume, and we fit exclude transactions wey we reasonably consider as abusive, offsetting, or transactions wey person do mainly to meet di requirement.
2.6. If we get reasonable reason to suspect abuse, prohibited behaviour, or breach of di Agreement, we fit remove di bonus, cancel related profits, restrict withdrawals, and take any oda action wey di Agreement permit.
3. Refund policy
3.1. We dey offer different merchant solutions and payment service providers to make online payments. You go receive bill at di time wey you make your transaction, or shortly afta. You agree say you go pay for all trades wey you purchase through any of di available merchant solutions or payment service providers.
3.2. All sales of trades na final. We no dey refund di price wey we charge to enter a trade if di trade don execute.
3.3. Because blockchain transactions no fit reverse, we no dey offer refunds for virtual asset transactions wey don execute. Dis one dey apply in addition to Clause 3.2, whether di transaction count as a "trade" for di purpose of dis Agreement or not.
3.4. If a trade no dey available again afta you make di transaction but before di trade execute, you fit request refund of di price wey we charge. We get di right to accept or reject your request afta we investigate your claim.
3.5. If technical problems stop a trade from executing, for example, if disruption happen for di data feeds wey we no fit quickly fix, we get di right to refund or reverse di trade. For virtual asset transactions, dis right dey apply only wia di transaction neva confirm for di relevant blockchain network; once e don confirm, di transaction no fit reverse, and Clause 3.3 go apply.
3.6. Any request for deposit refund for active accounts go automatically reject. If we don close, block, or suspend your account for any reason, you fit request refund of your deposit. We get di right to accept or reject your request afta we investigate your claim.
4. Chargebacks
4.1. If you deposit funds through credit or debit card, you agree say you go contact us through live chat before you place a chargeback or retrieval request, so dat we fit try retrieve di funds for you.
4.2. If we receive chargeback notification, fraud alert, or retrieval request from your payment processor, we get di right to terminate dis Agreement without prior notice.
4.3. Na your responsibility to compensate us for any losses wey we fit incur because of chargeback notification, fraud alert, or retrieval request. You must do dis before we go remove any limits wey we put for your account.
4.4. We get di right to temporarily hold part or all of your account Balance for up to 180 days if we receive chargeback notification, fraud alert, or retrieval request wey relate to your account. Dis hold go give time to investigate all transactions, and e go protect Deriv from di financial risk of any later related chargebacks wey cardholders fit start through dia banks during dis period.
5. Deriv P2P
5.1. Ads
5.1.1. Na only if we don pre-approve you according to our “Know Your Customer” policy, you fit post Deriv P2P ads (see di General Terms of Use for more information).
5.1.2. We get di right to restrict di number of ads wey you post for our platform or remove your ads, for example, for cases wia we suspect misconduct or fraudulent activity, and for any oda cases wey we believe say e dey necessary.
5.1.3. We get di right, based on our own decision, to modify, remove, or reassign any user nickname wey dem use for Deriv P2P if e conflict wit our policies or oda users dia nicknames, or if we determine say e fit cause confusion, impersonation, or oda misuse.
5.1.4. Wen you post ads, we recommend make you remain active and available to respond to orders wey pipo place because of your ads; if not, any dispute wey relate to di transaction fit resolve against you. We strongly advise make you pause your ads (make dem temporarily invisible) wen circumstances no fit allow you respond to orders on time.
5.1.5. You no get permission to post identical ads (i.e. use di same details for di same kontri).
5.1.6. We get di right to deactivate your ad if nobody place order because of am within seventy-two (72) hours.
5.1.7. We get di right to delete your inactive ad afta ninety (90) days wey no activity happen.
5.2. Orders
5.2.1. By placing an order, you dey make binding contract wit di seller/advertiser, and you agree and bind yourself to di terms and conditions of di transaction as dem state am for di ad.
5.2.2. You understand say you need to stay active and respond throughout di transaction wen you place an order.
5.3. Transactions
5.3.1. You acknowledge and agree say for all stages of di transaction, you dey carry out transaction wit anoda Deriv P2P user, and we dey act only as a provider of technical services, no be di counterparty for any transaction. Therefore, if any dispute or possible dispute come up from any transaction or because of any transaction, we no go be liable to you, di oda user, or any oda pesin.
5.3.2. We go take reasonable steps to help make sure say dem execute all transactions wey Deriv P2P support. However, sometimes, because of reasons wey dey beyond our control, including software, hardware, and internet connection failure, a transaction wey you request fit no execute successfully. You acknowledge say, as far as di law allow, we no dey liable in any way for failed transactions.
5.3.3. Na only you get responsibility to make sure say any transaction wey dem carry out go to di correct account. We strongly recommend say you confirm di correct account details wit di counterparty and do your own due diligence before you start or request any transaction. As far as di law allow, we no go be liable for any loss wey come from a transaction wey go to an incorrect account unless (a) na we execute am inside Deriv P2P, and (b) we fail to use di account details wey both parties give us.
5.3.4. Di details wey di seller specify for dia ad or order go bind both parties and govern di transaction. Once transaction don start, dis details don become final, and nobody fit renegotiate, change, or vary dem in any way. Di buyer and seller no fit request or agree to any change to di agreed details wey show for di transaction screen, and we no get obligation to comply wit or honour any variation.
5.3.5. Any information, including contact and account details, wey you give di counterparty for any stage of di transaction through di ad, di order, or di chat wey dey inside di platform must dey correct and up-to-date at all times. If any information wey you give di counterparty turn out to dey inaccurate or false, dem fit resolve any dispute wey concern dat transaction against you. If we get reason to believe say you intentionally give false information to di counterparty, we reserve di right to take action against you, such as to restrict, suspend, or terminate your use of all our services.
5.3.6. We fit block an order for a maximum of thirty (30) days if di buyer confirm say im don fulfil im own part of di transaction, but di seller no confirm di same thing, and di transaction expire. For dat kind case, both di buyer and di seller go receive notification immediately wen di transaction expire, and dem go get di right to raise a dispute.
5.3.7. Any amount wey you deposit into your wallet through Deriv P2P, na only through Deriv P2P you fit withdraw am.
5.3.8. You acknowledge and agree say we go automatically delete messages and attachments wey users exchange through di Deriv P2P chatbox afta six (6) months. Dis include all text messages, files, images, documents, and any oda data wey dem share inside di chatbox. We recommend say you save any important information or files for your device before di six (6)-month period don expire.
5.3.9. Transactions through Deriv P2P or a Payment Agent fit get transfer adjustment or oda Charge, as dem describe am under Clause 2.10 of di General Terms.
5.3.10. We reserve di right, based on our sole discretion, to review completed Deriv P2P transactions from time to time to verify say dem dey legitimate, make sure say dem comply wit applicable laws, regulations, and internal policies, and maintain di integrity of di platform. As part of dis kind review, we fit request say users provide evidence or documents wey concern a transaction, including, but no be only, proof of payment, proof of transfer, bank or wallet records, and related communications. You agree to cooperate promptly and fully wit any such request. We fit do such reviews and make such requests at any time, even if no dispute, complaint, or chargeback dey wey concern di transaction.
5.3.11. Seller's responsibilities
5.3.11.1. Whether you dey sell by posting ads or placing orders, you get di following responsibilities:
5.3.11.1.1. Once you don post an ad, di terms go bind both parties and nobody fit change, alter, or vary dem. Na your responsibility to check say di details wey you include for di ad dey correct.
5.3.11.1.2. You must provide accurate and up-to-date information to di buyer at all times, including, but no be only, account details, contact information, and any additional proof of identity wey di buyer request, whether na for di ad wey you post, di order wey you place, or di chat wey you get wit di buyer on or off our platform. If you provide inaccurate or outdated information, e go count as a violation of dis agreement. Dem go resolve disputes against you if you include inaccurate or out-of-date account details. If we get reason to believe say you intentionally give di buyer incorrect account details, we reserve di right to restrict, suspend, or terminate your use of all our services.
5.3.11.1.3. If di buyer ask you for information or evidence to confirm your identity or account details, you must give di buyer di information wey dem request. If you fail to meet dis request, di buyer go get di right to refuse to continue wit di transaction.
5.3.11.1.4. You no fit change di account details wey you provide for your ad or your order at any point afta di transaction don start, whether na on or off di Deriv P2P platform, even if di buyer don give consent. Wen we dey investigate disputes, na only di original account details wey di seller submit for di ad or di order we go consider.
5.3.11.1.5. Na your responsibility to confirm say di buyer don complete di transaction according to di details wey you put for your ad. Once you confirm say you don receive am, di balance wey concern am for your Deriv account go automatically and permanently release go give di buyer.
5.3.11.1.6. Once you confirm say di buyer don complete di transaction according to your ad, you must confirm am for Deriv P2P so dat di balance wey match am fit release go di buyer Deriv account. If you no do so, and dem establish say di buyer don fully and correctly complete dia own part of di transaction, dem go settle di dispute against you. If you repeatedly or deliberately fail to give confirmation on time, dem fit temporarily or permanently restrict your access to our services.
5.3.11.1.7. You acknowledge say any deposit wey you make through methods wey fit reverse — including but no limited to credit and debit cards (including Maestro and Diners Club cards), ZingPay, Neteller, Skrill, Ozow, and UPI — no go show for your Deriv P2P Wallet until 180 days don pass from di date wey you make di deposit.
5.3.12. Buyer responsibilities
5.3.12.1. Weda you dey buy by posting ads or by placing orders in response to ads, you get di following responsibilities:
5.3.12.1.1. Na only you get responsibility to make sure say dem direct any transaction go di correct account and say di details wey dem use match di ones wey di seller provide. We strongly recommend say make you confirm di correct account details wit di counterparty and do your own due diligence before you start any transaction. To di fullest extent wey law allow, we no go dey liable for any loss wey come from transaction process wey dem direct go incorrect account, unless (a) na we execute am inside Deriv P2P, and (b) we fail to use di account details wey both parties provide give us.
5.3.12.1.2. Even though, as a buyer, you fit cancel a transaction, you get obligation to use di cancellation option only when e necessary and responsibly. If we get reason to believe say you don cancel transactions often wit dishonest intention, we fit suspend or terminate your account wit us.
5.3.12.1.3. You no fit confirm say di transaction don complete if you neva fulfil your own part of di transaction, because we go treat dis one as misconduct and a breach of dis terms. If we get reason to believe say you don make false confirmation, we go resolve any dispute wey concern di transaction against you. If e get reason to believe say you dey often confirm completion without fulfilling your own part of di transaction, we reserve di right to suspend or terminate your account. If you ever confirm completion by mistake, notify our support team and di seller immediately.
5.3.12.1.4. Once you don complete your own part of di transaction fully and correctly, you must confirm completion before di order expire. Otherwise, we fit resolve any dispute wey concern dis transaction against you.
5.3.12.1.5. Afta you confirm completion by pressing di relevant button, you must also upload evidence wey verify say you don fulfil your own part of di transaction.
5.3.12.1.6. If di seller ask for information or evidence to confirm your identity or account details, na your obligation to provide di seller wit di proof wey dem request. If you fail to provide di proof wey dem request, di seller get di right to refuse to continue wit di transaction.
5.3.13. Floating exchange rate
5.3.13.1. Our role na only to provide di market feed and related technology for exchange rates. We no set di rates or take part for deciding dem.
5.3.13.2. Di floating rate feature na only for countries wey support live market feed and stable currency exchange rate.
5.3.13.3. Dem apply di floating rate feature to two (2) types of currencies: pegged and non-pegged.
5.3.13.4. Dem dey update floating rates on Deriv P2P every hour, or any time major change happen for di exchange rate, whichever happen first.
5.3.13.5. Clients wey fit use di floating exchange rate fit see di market feed when dem start to create an ad by clicking di ad creation button. If floating exchange rate no dey available, clients fit enter di exchange rate as before.
5.3.13.6. If di market rate change pass 0.5% before dem confirm a Deriv P2P order, dem go reject di order, and di client must create new order.
5.3.13.7. If di market feed get delays wey pass twenty-four (24) hours, we go manually set di applicable exchange rate.
5.3.13.8. Deriv P2P ads wey dem create before we introduce di floating rate get thirty (30)-day grace period for fulfilment. Dem go automatically deactivate dis ads afta di grace period end. Advertisers get di option to edit di deactivated ad and activate am wit a floating rate.
5.4. Deriv P2P complaints and disputes
5.4.1. Starting a dispute
5.4.1.1. Any transaction fit become subject to dispute within thirty (30) days afta di transaction expire. Either party for di transaction get di right to raise di dispute. Make you send all disputes about a transaction to our support team through complaints@deriv.com.
5.4.1.2. To review and resolve disputes, we fit need to review communications between di buyer and di seller. If any part of dis communication happen for our platform, e no count as private communication. With dis, you acknowledge and give consent say we too na party to any communication wey happen for our platform, and we fit access and oda way process am according to our Privacy Policy.
5.4.1.3. During dispute investigation, we fit ask one or both parties for di dispute to provide records of dia communication wit each oda wey no happen on our platform.
5.4.2. Dispute review
5.4.2.1. During dispute review, our support team fit give you instructions wey you must follow. Di instructions wey dem give you fit require you to provide proof say you don complete your own part of di transaction, proof say you don receive or you neva receive wetin dem suppose give you, additional ID verification, photo, audio, or video evidence, or any oda documents wey we consider relevant. If you no follow di instructions, we fit resolve di dispute against you.
5.4.3. Dispute resolution
5.4.3.1. With dis, you agree say you go accept our final decision for any Deriv P2P dispute wey you fit be involved in.
5.4.3.2. You understand say di most common outcome of transaction wey dem dispute, although e no be di only outcome, na say we go release di transaction wey dem dispute give di buyer or di seller once dem meet di criteria to resolve di dispute.
5.4.3.3. You accept say if we resolve dispute for your favour, e no mean say law dey force us to compensate you for any loss or damage wey you fit don suffer.
5.4.3.4. You must dey available to respond to request from our support team about transaction wey dem dispute.
5.4.3.5. To make sure say di resolution fair and e happen on time, na our aim be to reach decision within six (6) hours from di first time we contact you. However, some cases fit dey wia deeper investigation dey necessary because di case wey dem dispute complex or because we receive new evidence. For dat kind circumstance, e fit no possible to follow di standard six (6)-hour timeframe. Therefore, we reserve di right to extend di timeframe to resolve di dispute as we see am necessary, based on how complex di investigation be and how long e go take to reach fair and just resolution. We go notify you quickly if extension dey necessary, together wit estimated timeframe to complete am.
5.4.3.6. If our support team no fit contact you within di estimated timeframe, we go consider you as pesin wey no dey respond, and we go resolve di dispute against you because of dis reason alone.
5.4.3.7. If any party for transaction wey dem dispute provide fraudulent information or fraudulent documents, make false claims, or try any oda way to force one particular outcome for di transaction wey dem dispute, we go immediately resolve di dispute against dat party.
5.4.3.8. Resolving dispute for di buyer favour
5.4.3.8.1. We fit resolve transaction wey dem dispute for your favour as buyer when we don establish at least one of di following criteria:
5.4.3.8.1.1. You don complete your own part of di transaction fully and according to di instructions wey di seller provide; or
5.4.3.8.1.2. Di seller don stop to dey respond (our support team no fit reach di seller for six (6) hours).
5.4.3.9. Resolving dispute for di seller favour
5.4.3.9.1. You understand and acknowledge say if you release di related balance give di buyer before you verify say di buyer don fulfil dia own part of di transaction fully and correctly, we no go dey liable to restore dat balance to your purse or provide any form of compensation.
5.4.3.9.2. We fit resolve transaction wey dem dispute for your favour as seller when we don establish at least one of di following criteria:
5.4.3.9.2.1. Di buyer no complete dia own part of di transaction or no complete am fully;
5.4.3.9.2.2. Di buyer service provider don hold/freeze/stop di transaction;
5.4.3.9.2.3. Di buyer no complete dia own part of di transaction according to di instructions wey dey inside your ad; or
5.4.3.9.2.4. Di buyer don stop to dey respond (our customer support no fit reach di buyer for six (6) hours).
5.5. Termination
5.5.1. If any of di conditions below happen, or if any of di conditions for suspension or termination of services wey dem mention for our General Terms happen, we reserve di right to: (1) cancel your transaction(s) and return di related balance to di parties wey dey involved as we see fit, including any balance for your wallet; (2) block any pending transactions indefinitely; and/or (3) restrict, suspend, or terminate your use of all our services, including Deriv P2P, wey fit include say we go temporarily or permanently withdraw your authorisation to post ads on di Deriv P2P platform:
5.5.1.1. If suspicion or evidence show say fraudulent activities don happen, including say you provide forged documents for di Deriv P2P chatbox, deceive oda users, carry out money laundering, or do any oda illegal or unlawful activities concerning how you use Deriv P2P; or
5.5.1.2. If we know or get reason to believe say you don use Deriv P2P irresponsibly on several occasions or wit dishonest intentions, including di following situations wen dem happen more than once:
5.5.1.2.1. As a buyer: if you no complete your part of di transaction before di order don expire, if you confirm completion without fully and correctly fulfil your part of di transaction, or if you cancel transactions; or
5.5.1.2.2. As a seller: if you no confirm receipt afta di buyer don fully and correctly complete dia part of di transaction.
