How We Treat Your Funds

We treat Your Deposits into the Accounts as advances received for the future delivery of Fiat Money or Cryptocurrencies depending on what is deposited. It means that once we receive Fiat Money or Cryptocurrency from the User we recognise this in our books as EXMO’s assets, which we would keep at banks (for Fiat Money) and custody providers (for Cryptocurrencies) in our own name. At the same time we recognise liability to a User to deliver Fiat Money or Cryptocurrency to them once they initiate withdrawal after the Spot Transaction.

Cryptocurrencies

Any Cryptocurrencies held with EXMO are held at reputable custodians. Cryptocurrencies are not regulated products however we will endeavor to protect your funds with best market practice. We use third-party technology providers who offer the best security platforms by protecting your Funds from cyber-attacks, internal collusion, and human errors. These custodians provide full life cycle control to EXMO. EXMO holds over 95% of Cryptocurrencies offline in order to protect its Users.

In case of a security event, we will always endeavor to cover any losses; however, total losses may exceed covered assets so your Funds may still be at risk.

Our policy does not cover any losses resulting from unauthorized access to your Account(s) due to a breach or loss of your credentials. It is your responsibility to use a strong password and maintain control of all login credentials you use to access EXMO. We have 2-Step Verification on all accounts, you’ll enter a code sent to your mobile phone, adding an extra layer of security to your Account.

Fiat Money

We may hold your Fiat money in accounts at banks and financial institutions in the European Economic Area (hereinafter – EEA). We may also hold Fiat money in bank accounts and financial institutions outside the EEA. This means that different rules, regulations and laws may apply to these banks, financial institutions which means that in the event of an insolvency, Fiat money may be treated differently to Fiat money held with an EEA Bank or financial institution.

We are not responsible for the insolvency, acts or omissions of any bank, financial institution although we will take reasonable care when choosing which bank, financial institution to open an account with.