Last updated: [DATE]. This page is a plain-language summary for users. It is not a substitute for the full Terms of Service and does not constitute legal, financial, or tax advice. SnipeXTrade recommends you consult a qualified professional before depositing funds.
Unlike the SnipeXTrade AI Bot product, this trading platform is custodial. When you deposit USDT, it is transferred to a wallet address controlled by SnipeXTrade. You do not retain individual on-chain control of deposited funds. Your account balance shown on the dashboard is an internal ledger entry maintained by SnipeXTrade, not a balance you can move directly on-chain.
When you open a position, SnipeXTrade quotes you a price derived from third-party market data plus a spread, and takes the opposite side of your trade internally. You are not being matched with another trader or routed to an external exchange order book. This allows for instant execution without the slippage that can occur on public markets, but it also means:
AlgoBot is different. Trades placed automatically by AlgoBot are routed to the Binance exchange and executed on its live market. SnipeXTrade is not the counterparty to those trades and, like any trade on a live market, they can be affected by slippage and partial fills.
Withdrawal requests are queued and reviewed by SnipeXTrade before funds are released, typically within 24 hours. This manual step exists to detect fraud and account compromise. It also means SnipeXTrade has discretion over the timing of withdrawal releases, and in cases of suspected fraud, violation of our Terms of Service, or unresolved KYC requirements, a withdrawal may be delayed or declined pending review.
This platform does not offer leverage: a position uses only the amount you commit to it. You can still lose all of that amount, and prices can move quickly. Only trade with funds you can afford to lose.
SnipeXTrade maintains a buffer between total user balances and total open exposure, but this buffer is not a guarantee. In extreme market conditions or in the event of platform insolvency, SnipeXTrade may be unable to honor withdrawal requests in full or in a timely manner. This platform is not insured by any government deposit insurance scheme.
[SnipeXTrade to insert accurate statement of its licensing status in each jurisdiction it operates in. If unlicensed, users should be told plainly that the platform is not licensed or regulated as a broker, exchange, or money transmitter, and what that means for their legal recourse.]
By depositing funds, you acknowledge you have read and understood this disclaimer.