Wigix Trading Agreement
You are of legal age in the jurisdiction in which you reside and have the legal capacity to enter into this agreement to buy or sell items on the Wigix trading platform. All the information you have provided us in your account registration is true and correct. You will promptly notify us in writing within 5 calendar days if there is any change in such information.
You are responsible for all orders placed in your account. You understand that there are fees associated with such transactions. You will pay commissions, charges, taxes, and other fees applicable to your account. If your payment method fails or your account is past due, we may collect fees owed using other collection mechanisms. As security for payment of all present and future indebtedness owed to us, you grant to us a first lien on your account.
Wigix will route your orders for prompt execution, but there can be delays in the processing of orders. Currently, Wigix processes 2 kinds of orders: market order and limit order. A market order is an order to buy a particular item based on the price currently listed by a seller. You are almost always guaranteed that your order will be executed subject to the availability of the item.
A limit order is an order to buy a currently listed item "as is" at a specific price. You understand and agree that limit orders will be executed only at a specified price or better, but there is the possibility that the order may never be fulfilled. As a limit buyer, you agree to honor the trade at the price you have "bid" for when it is accepted by a seller who has listed the same item at a different price. This limit order will remain effective until it is cancelled by the originating buyer before the trade is executed.
An exception exists when you intend to purchase or bid for an item that is not currently listed by any seller. You can make a buy offer for the item at a specific price contingent upon the satisfaction of certain criteria such as features and physical conditions of the item. You will be notified by e-mail when a matching item becomes available. You will use best efforts to communicate with the seller within 5 calendar days to purchase the item. If the item does not meet your requirements, your buy offer will continue to remain outstanding until the expiration date, is cancelled by you, or has been fulfilled.
All orders that you authorize will be processed with the understanding that you will pay for any purchase and deliver listed items to cover all sales on or before settlement date, which is 3 calendar days after a trade is executed. All sell orders that you place will be for items that you own and in deliverable form at the time the order is placed. If there is any breach or default by you under this Agreement, Wigix may cancel the listing, suspend the account, or take such appropriate actions against you to make Wigix a safe and trusted site to transact business.
