Vitex P2P Trading Rules

1. Overview

These Trading Rules establish specific operational guidelines for users engaging in peer-to-peer (P2P) trades on Vitex. These rules supplement our Terms and Conditions and are designed to ensure a fair, secure, and efficient trading environment for all participants.

Violations of these Trading Rules may result in warnings, trade cancellations, temporary restrictions, suspension of your P2P trading privileges, or permanent account termination, depending on the severity and frequency of the violation.

2. General Requirements

Before engaging in any P2P trading on Vitex, you must:

• Complete KYC Verification: Fully verify your identity, residential address, and payment methods. Trading is not permitted until all verification steps are completed and approved.
• Use Own Payment Methods: Only use bank accounts, wallets, or payment methods that are registered in your own verified name. Third-party payment methods are strictly prohibited.
• Maintain Accurate Information: Keep your profile information, contact details, and payment methods up to date at all times.
• Have Sufficient Funds: Ensure you have adequate balance (digital assets or fiat liquidity) before posting or accepting orders.

3. Creating Ads / Orders

When creating a buy or sell advertisement (order), you must:

3.1 Set Clear and Accurate Terms

• Specify the digital asset (e.g., USDT), fiat currency (e.g., TRY, OMR, AED), price, available amount, and minimum/maximum trade limits clearly and accurately.
• Choose a response timeout (10, 20, or 45 minutes) that reflects your availability to respond to trade requests. This timeout is visible to other users.

3.2 Ensure Sufficient Balance

For sell orders, ensure you have sufficient digital assets available. For buy orders, ensure you have the necessary fiat liquidity to complete payments promptly.

3.3 Avoid Market Manipulation

Do not frequently modify or cancel orders to manipulate prices, create artificial scarcity, or mislead other users. Excessive order cancellations may result in penalties or restrictions.

4. Taking Orders

When accepting another user's order, you must:

4.1 Be Ready to Complete

Only place a trade request if you are ready and able to complete the full payment within the specified time limits. Do not place requests speculatively or without genuine intent to trade.

4.2 Avoid Multiple Unpaid Orders

Placing multiple simultaneous trade requests without completing payments may be interpreted as abusive behavior and can lead to temporary suspension or permanent restrictions on your account.

4.3 Respect Response Timeouts

Understand that the order creator has a configured response timeout. If they do not respond within this period, your request will be automatically cancelled, and no penalty is applied to either party.

5. Payment Rules

All payments must comply with the following guidelines:

5.1 Payment Timing

Payment must be initiated only after the trade request has been accepted by the order creator and escrow has been activated. Do not make payment before this confirmation.

5.2 Use Specified Payment Method

Follow the payment instructions provided in the order details. Use the exact payment method, account details, and reference information specified by the seller.

5.3 Exact Amount

Transfer the exact fiat amount shown in the order, unless partial fills are explicitly supported and agreed upon. Transferring incorrect amounts can cause disputes and delays.

5.4 Proof of Payment

After making payment, you must upload clear, legible proof of payment (e.g., bank transfer receipt, payment confirmation screenshot) and click "I have paid" within the 1-hour completion window.

Failure to provide valid proof or clicking "I have paid" without actually making payment is considered fraudulent behavior and may result in immediate account suspension.

6. Timeouts, Auto-Cancellation & Reopen

The Platform implements automated timeout mechanisms to ensure trades proceed efficiently:

6.1 Response Timeout

When a user places a trade request, the order creator has a configured response timeout (10, 20, or 45 minutes) to accept or reject the request. If no response is received within this period, the request is automatically cancelled, and the requester is free to take other orders.

6.2 Completion Window

Once a trade request is accepted, both parties have a maximum of 1 hour to complete the following steps:

• Buyer: Make fiat payment, upload proof, and click "I have paid"
• Seller: Verify receipt of fiat and release escrowed digital assets

6.3 Pending Review Status

If the trade is not completed within the 1-hour window and no dispute is filed, the trade status changes to "Pending review". Platform support may intervene to investigate and resolve the issue.

6.4 Reopen Mechanism

Each party has the option to reopen a pending trade once for an additional 30 minutes. This allows for minor delays or communication issues without immediately escalating to dispute resolution. After one reopen, the trade must be completed or formally disputed.

7. Communication & Off-Platform Trading

7.1 Use In-Platform Chat

All trade-related communication should occur within Vitex's chat system as much as possible. This provides a record of the conversation for dispute resolution and helps protect both parties.

7.2 Prohibition of Off-Platform Trading

8. Disputes & Evidence

If a problem arises during a trade (e.g., non-receipt of funds, suspicious receipt, unresponsive counterparty, wrong amount), you should:

8.1 File a Dispute Promptly

Use the "I have a problem" or "Dispute" button in the order interface as soon as an issue is identified. Do not wait until the timeout expires.

8.2 Select Appropriate Reason

Choose the reason that best describes the issue, such as:

• Payment not received
• Suspicious or altered receipt
• Counterparty unresponsive or refusing to act
• Wrong amount transferred
• Other (with detailed explanation)

8.3 Provide Clear Evidence

Upload all relevant evidence, including but not limited to: bank statements, payment receipts, transaction screenshots, chat logs, videos (if applicable), and any other documentation that supports your claim.

The quality and completeness of evidence directly impacts the speed and outcome of the dispute resolution process.

8.4 Dispute Resolution Process

Our support team will review all evidence submitted by both parties, may request additional information, and will make a final determination. During the review, escrowed funds may be temporarily locked.

Both parties agree to respect Vitex's decision as final and binding. Attempts to manipulate or abuse the dispute system (e.g., filing false claims, withholding evidence) will result in severe penalties.

9. Penalties & Restrictions

Violations of these Trading Rules may result in one or more of the following consequences, depending on severity and frequency:

9.1 Types of Penalties

• Warning: Informal notice or educational message about rule violations.
• Order Cancellation: Specific trades may be cancelled without refund of fees.
• Temporary Suspension: Your P2P trading function may be suspended for a defined period (e.g., 24 hours, 7 days, 30 days).
• Permanent Ban: In cases of severe or repeated violations, your account may be permanently banned from all Vitex services.
• Forfeiture of Funds: In cases of proven fraud, escrowed funds may be forfeited or awarded to the counterparty.
• Reporting to Authorities: Serious violations (e.g., money laundering, fraud) may be reported to law enforcement or regulatory agencies.

9.2 Common Violations Leading to Penalties

• Repeated no-shows or failure to complete accepted trades
• Uploading fake, altered, or misleading payment receipts
• Filing false disputes or withholding evidence in bad faith
• Attempting to complete trades outside Vitex
• Using third-party payment methods or stolen accounts
• Harassing, threatening, or defrauding counterparties
• Engaging in price manipulation or wash trading

10. Safety Tips

10.1 For Sellers (Selling Digital Assets)

• Never release digital assets before confirming fiat receipt: Always verify that funds have arrived in your bank account or wallet before releasing escrow.
• Check payment details carefully: Ensure the sender's name matches the verified name of the buyer on Vitex. Be suspicious of third-party payments.
• Request additional proof if needed: If a receipt looks suspicious or unclear, ask for additional evidence (e.g., bank statement, video recording) before releasing funds.

10.2 For Buyers (Buying Digital Assets)

• Use only your verified payment method: Ensure the payment is made from a bank account or wallet in your own name that matches your verified identity.
• Double-check recipient details: Verify the seller's bank account number, name, and other details before initiating payment to avoid sending funds to the wrong account.
• Keep clear records: Save screenshots, receipts, and transaction IDs for your own records and in case a dispute arises.

10.3 General Safety Advice

• Be cautious of too-good-to-be-true offers: If a price is significantly better than the market average, proceed with extra caution.
• Check counterparty profiles: Review their success rate, completion rate, and trade history before accepting or placing an order.
• Report suspicious activity immediately: If something feels wrong or you suspect fraud, contact support through the dispute feature or support channels without delay.
• Never share sensitive information: Do not share your Vitex password, 2FA codes, or private keys with anyone, including counterparties or individuals claiming to be Vitex support.