Terms of use

Updated on June 09, 2023
These terms and conditions (“Terms”) form a binding agreement between the user (“User”, “you” or “your”) and LYOTRADE (“Platform”, “LYOTRADE”, “we”, “us”, or “our”). By accessing, using, or clicking the “Sign Up” button on the Platform or any services provided by the Platform, you agree that you have read, understood, and accepted all of the Terms stipulated in this agreement.
By availing yourself of our services, you explicitly acknowledge and consent to the following terms:
  1. 1.
    You possess knowledge regarding the inherent risks connected with transactions involving Virtual Assets and their derivatives.
  2. 2.
    You willingly assume all risks associated with utilizing our services and engaging in transactions involving virtual assets and their derivatives. You acknowledge and accept that there exists a significant possibility of financial loss when buying, selling, holding, or investing in virtual assets..
  3. 3.
    We, as the service provider, shall not be held responsible or liable for any such risks or unfavorable outcomes that may arise from your use of our services.
You agree and acknowledge to thoroughly comprehend and accept these Terms before proceeding to use our services.
  1. 1.
1.1. “Virtual Asset” means a digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes but does not include digital representations of fiat currencies and or digital record of a credit against a financial institution of fiat currency, securities and other financial assets that can be transferred digitally.
1.2. “LYOTRADE” is a Virtual Asset Service Provider (VASP) Platform that primarily functions as a centralized exchange while also offering certain decentralized features and services. LYOTRADE operates under the laws and regulations of Costa Rica.
1.3. “Personal data '' means any personal information contained in public or private (e.g., medical records) that identifies or could be used to identify a natural person. Including the sensitive personal data which is the personal information related to the personal sphere of an individual, including racial origin, political opinion, religious or spiritual convictions, socioeconomic condition, biomedical or genetic information, sex life and sexual orientation, among others.;
1.4. “User'' means any natural person who has attained the age of eighteen (18) with legal capacity and/or any legal entity who successfully creates an account in the Platform and completes the Know Your Client (“KYC”) verification process.
1.5. “Authorized person of the Entity” means any natural person appointed by a legal entity under a letter of authorization to (a) represent and sign in, (b) open an account and (c) to carry out transactions on our Platform.
1.6. “Letter of Authorization” means the letter provided by any legal entity which attests that the individual filling up the KYC has the legal authority to open a corporate account on our Platform, signs in and carries out transactions on behalf of the entity. Such letters shall be signed, stamped, and dated (not less than 3-months-old). The letter shall include the Entity’s full name and full names of UBO, who is authorizing the “Authorized person of the Entity”.
1.7. “Transaction” refers to the transfer of Virtual Asset between two virtual wallets. A transaction is submitted to a public ledger to await confirmation before the trade can be completed. During a transaction, an encrypted electronic signature based on a mathematical formula is required as proof of ownership. The confirmation process is conducted by people called miners or validators.
1.8. “GDPR” means the General Data Protection Regulation, which is a regulation of the European Union. If your country of residence is based within the European Economic Area (EEA), the GDPR applies to our processing of your Personal data (within the meaning of the GDPR). If your country of residence is outside of the EEA, provisions related to the GDPR shall not apply to your use of our services.
1.9. “Arbitration” means a process of settling a dispute between parties before an arbitral tribunal, and includes any arbitration mutually agreed by both parties.
1.10. “Market Manipulation” is an activity to attempt to artificially influence a Virtual Asset’s price or the behavior of the markets.
1.11. “Pump and Dump” is where a group of people work together to artificially inflate a Virtual Asset’s value.
1.12. “Wash trading” is feeding misleading information to the Virtual Asset market where any individual or a group of individuals rapidly buys and sells the same Virtual Asset to inflate the volume artificially.
1.13. “Front-running” refers to the process when someone uses technology or market advantage to get prior knowledge of upcoming Transactions. This might also be known as slow matching.
1.14. “Stop Hunting” is a strategy that pushes price in a certain direction to trigger a cascade of stop loss orders.
1.15. “Churning” is the illegal and unethical practice by a broker of excessively trading assets in a client’s account in order to generate commission.
1.16. “Quote stuffing” refers to a practice of placing an unusual number of buy or sell orders on a particular security and then immediately canceling them.
1.17. “False trading” is where a person intentionally or negligently or recklessly, does or causes anything, to effect or is likely to effect by creating a false or misleading appearance of active trading in a Virtual Asset or creating an artificial price for a Virtual Asset.
1.18. “Insider dealing” is an illegal activity in which a person who has access to non-public, material information about an exchange, company, or Virtual Asset utilizes that information to make advantageous trades and discloses the inside information directly or indirectly to another person.
1.19. “Price rigging” is known as price fixing or collusion, which is a form of market manipulation.
1.20. “Spoofing and Layering” are both forms of market manipulation whereby a trader uses fake orders to deceive other traders as to the true levels of demand in the market.
1.21. “Market Manipulating” is an activity to attempt to artificially influence a Virtual Asset’s price or the behavior of the markets. Any single individual or a group of people may create an illusion in the market in order to profit from the aftermath.
1.22. “Prohibited Activity or Business” refers to;
1.22.1. any unlawful activity which violates any law of Costa Rica and International forum
1.22.2. any abusive activity such as transmitting or uploading any material to the Platform that contains viruses, trojan horses, worms, or any other harmful programs,
1.22.3. any use of fraud activity which operates to defraud LYOTRADE services
1.22.4. any activity related to terrorist financing
1.22.5. any activity related to child abuse
1.22.6. any Transactions made in relation to the sanctioned jurisdictions or person
1.22.7. any activity related fraud shops
1.22.8. any activity related to scams
1.22.9. any activity related to ransomware
1.22.10. any activity related to darknet market
1.22.11. any activity related to gambling
1.22.12. any Pump and Dumps scheme,
1.22.13. any activity related to Front-running
1.22.14. any activity related to Wash trading
1.22.15. any activity related to Spoofing and Layering
1.22.16. any activity related to Stop hunting
1.22.17. any activity related to Churning and Quote stuffing
1.22.18. any activity related to False trading and Insider dealing
1.22.19. any activity related to Price rigging and deceptive
1.22.20. any activity related to Market Manipulation
1.22.21. any activity in engagement involving items that infringe or violate any of the copyright, trademark, right of publicity or privacy or any other proprietary right, name, logo or brand of LYOTRADE Platform.
1.22.22. any activity related to marijuana dispensary, sale of tobacco, e-cigarettes, e-liquid, online prescription or pharmaceutical services, age restricted goods or services, weapons and munitions, gunpowder and other explosives, fireworks, toxic, inflammable and radioactive materials
1.22.23. any activity related to sales of narcotics, controlled substances or any equipment or tools designed for making or using drugs
1.22.24. any activity related to sale of a legal substance that provides the same effect of an illegal drug
1.22.25. any services or activities related to pornography and other obscene materials, sites offering any services related to prostitution and sexual related services.
1.22.26. any activities which have financial risk, legal liability or violations of any regulations
  1. 2.
2.1. Eligibility
2.1.1. Retail Client – the User who is a natural person who has attained the age of 18 with legal capacity and sufficient authorization to enter into these Terms. Due to certain internal policy decisions of LYOTRADE, we may restrict certain citizens or residents of some countries.
2.1.2. Corporate Client- the User who is a legal entity and has sufficient authorization to enter into these Terms. The Authorized person of the Entity shall submit the Letter of Authorization in order to sign up with our Platform. Due to certain internal policy decisions of LYOTRADE, we may restrict certain citizens or residents of some countries
2.1.3. In the event of any changes to the Authorized Person of the Entity, the entity shall promptly and without delay notify us in writing. Such notification shall be provided immediately upon the occurrence of any changes to ensure accurate and up-to-date information regarding the Authorized Person of the Entity.
2.1.4. Supplementary Terms – These Terms between you and us are not exhaustive in their coverage of all rights and obligations. As a result, the Privacy Policy, Cookies Policy, and any other agreements entered into separately between you and us shall be deemed Supplementary Terms that are fully incorporated into these Terms and carry the same legal effect. These Supplementary Terms are considered integral parts of these Terms, and any provisions or requirements set forth in the Supplementary Terms shall be binding and enforceable in conjunction with the provisions of these Terms.
2.1.5. Changes to the Terms – Our Terms undergo regular reviews and updates to ensure compliance with applicable laws and regulations in Costa Rica. We retain the right to change or modify these Terms at our discretion, at any time. Any updated version of the Terms will be promptly notified and made available at the top of the Terms page on our Platform. By accessing and using our Platform after an updated version of the Terms has been released, it is understood that the User agrees and consents to the revised content of the Terms. Therefore, it is strongly recommended that you regularly review these Terms to ensure a clear understanding of the terms and conditions that govern your access to and use of our services.
2.5. User Restrictions
2.5.1. We reserve the right to choose markets and jurisdictions to conduct business and shall restrict or refuse some Users due to internal policy decisions and in the event if the User is involved in any Anti-money Laundering (AML) high risk jurisdictions as per Financial Action Task Force (FATF) and Basel recommendations or any economic sanctions lists, such as United Nations Security Council Sanctions List, and The Office of Foreign Assets Control of the US Department of the Treasury (OFAC).
2.5.2. Due to internal policy considerations at LYOTRADE, we have implemented restrictions on conducting business with individuals and entities who are citizens of or incorporated in the United States of America and China.
  1. 3.
3.1. Registration of LYOTRADE Account
To sign up for our services, it is required that you register on our Platform. By utilizing our Platform, you acknowledge and affirm that you will create and use an account solely for yourself, and not on behalf of any third party, unless you have obtained prior written consent from us.
During the registration process on our Platform, you will be required to undergo an onboarding procedure to facilitate our internal verification. Additionally, you must select a strong password and explicitly agree to abide by these Terms.
3.2. Identity Verification
We have implemented a comprehensive and sophisticated User onboarding and Anti-Money Laundering screening system, referred to as the "KYC System." This system is fully compliant with relevant regulations and is designed to streamline the process of User registration while ensuring the verification of User identities. The primary objective of the KYC System is to assess, manage, and mitigate any potential risks related to money laundering or terrorist financing associated with our Users. By utilizing this system, we aim to maintain a high level of compliance with regulatory requirements and contribute to the overall integrity of our Platform.
In order to conduct the identity verification, we may insist you to complete the following KYC process;
3.2.1. Account Creation & Registration
3.2.2. Sanction & PEP Screening
3.2.3. Document Verification
3.2.4. Identity Verification
3.2.5. Liveness check and Face Match
3.2.6. Known Face Search
3.2.7. Video Calls and Interviews (as necessary)
3.2.8. Email, Phone and Address verification
By providing us with the aforementioned information, you confirm its accuracy and authenticity. You also agree to promptly inform us of any changes to the provided information, ensuring its continued accuracy and completeness. If there are reasonable grounds to believe that any of the information you provided is incorrect, false, outdated, or incomplete, we reserve the right to request corrections from you. In the event that we are unable to contact you using the contact information you have provided, you will bear full responsibility for any loss or expenses incurred by us during your use of our services.
We reserve the right to exercise discretion in permitting or denying registration on the Platform. We are under no obligation to accept registrations from all individuals and may refuse, terminate, or suspend registration for anyone at any time without providing a specific reason for doing so. This allows us the flexibility to ensure the integrity, security, and compliance of the Platform and its user base.
By accepting the Terms, you authorize us to make inquiries, whether directly or through third parties, that we may consider necessary to verify your identity or to protect you and/or us against fraud or any other financial crime, and to take action where we deem reasonably necessary based on the results of such inquiries. Further, you expressly acknowledge and agree that your Personal data may be disclosed to credit reference, fraud prevention, or financial crime institutions or authorities, and these institutions or authorities may respond to our inquiries in full. For further information in regard to how we process, handle, and store your Personal data, please read our Privacy Policy available on the Platform.
3.3. Access
Our services can be directly accessed through the Platform and mobile application. During the periods of significant volatility or high volume, access to our services may experience degradation or become unavailable. As a result, there may be instances where buying or selling transactions cannot be executed, and there could be delays in support response times. Please be aware that we will not be held liable for any losses that may arise from or be attributed to transaction delays during such periods. It is advisable to consider this possibility and exercise caution when engaging in transactions during times of increased volatility or volume.
3.4. Account Security
We are fully committed to ensuring the security of the funds entrusted to us by our Users and have implemented industry-standard protection measures. We emphasize the importance of our Users safeguarding their account access credentials, including their username and password, as confidential information. Under no circumstances should this information be disclosed to any third party.
It is your responsibility to protect your account from unauthorized access to prevent any potential authentication issues. In order to enhance security and mitigate the risk of cybercrime and the loss of personal data, we have implemented a two-factor authentication system. By utilizing this additional layer of security, we aim to provide stronger protection for your account and personal information. We encourage all Users to enable two-factor authentication to further enhance the security of their accounts and minimize potential security risks. In order to circumvent loss, misuse, unauthorized acquisition, or alteration of your Personal data, Users are requested to choose the strongest password and to protect the account privacy data from any third-parties. You also agree to be solely responsible for taking the necessary security measures to protect your account and personal information.
In the event of any unauthorized access to your account, we strongly urge you to notify our customer support team immediately. You shall note that we will never, under any circumstances, request your usernames or passwords. We assume no responsibility for any losses you may incur as a result of compromised account login credentials, provided that such compromise is not due to any fault on the part of LYOTRADE and/or failure to act upon notices or alerts that we may send you. We prioritize the security and protection of your account, and we encourage you to promptly report any suspicious activity or unauthorized access to ensure appropriate measures can be taken to mitigate potential risks.
  1. 4.
4.1. We offer a range of services to our Users, including but not limited to primary services such as trading, staking, savings, and some other value-added services such as P2P, loans, swaps, referral and promotional programs, gift cards, etc. (collectively referred to as "Services''). However, you should be fully aware of the risks involved in Virtual Asset trading and other activities and Services related to virtual assets. Trading and engaging in virtual asset-related activities carry inherent risks, including but not limited to market volatility, regulatory uncertainties, and potential loss of investment. You acknowledge and accept that you carefully consider and understand these risks before participating in any virtual asset-related activities or Services on our Platform. LYOTRADE has made available a Risk Disclaimer Notice available at that provides a comprehensive overview of the risks associated with the usage of the Services. By using our Services, you confirm that you have read, understood, and agreed to the terms outlined in the Risk Disclaimer Notice, which is incorporated by reference into these Terms.
4.2. We may refer to the LYOTRADE White Paper and we may publish other similar papers in the ‘Docs and Guides’ section in the future that describe the concepts and policies we apply in providing our Services. We disclose them for information purposes only and they are not directly part of these Terms of Use and may be updated and changed, at our discretion without prior notice to you.
4.2.1. Trading Spot Trading - We provide the Spot Trading service which is the process of buying and selling Virtual Assets at real time prices with the aim of generating a trading profit. P2P Trading – We offer P2P (Peer-to-Peer) trading services, which allow Users to directly buy or sell Virtual Assets with other peer Users, without the involvement of intermediaries. Future trading - We provide future trading services, which is a derivative product and a contract between two parties where both parties agree to buy and sell a particular asset of a specific quantity at a predetermined price, at a specified future date. These financial instruments are frequently used by both hedgers and speculators as a way to potentially anticipate future price movements, either for hedging against risks or for making profits. ETF Trading - We provide the ETF, or Exchange-Traded Fund service, which is a financial tool that follows the trend of a market or a group of markets. With this, it is possible to make a type of investment that allows market participants to buy baskets of stocks containing shares of hundreds or thousands of companies with a single purchase. OTC Trading – We offer OTC Trading, also known as Over-the-Counter services, which are decentralized services provided to Users for the direct peer-to-peer trading of Virtual Assets, stocks, commodities, and currencies. Through our OTC Trading platform, Users have the ability to trade these assets directly, without the involvement of traditional centralized exchanges. Margin Trading- We offer Margin Trading services, which enable Users to borrow funds from our exchange and utilize them for trading purposes. With Margin Trading, Users have the opportunity to leverage their positions and potentially increase their trading capacity by borrowing funds to supplement their own capital. This service allows Users to access additional trading opportunities and potentially amplify their profits. However, Margin Trading also carries increased risks, and Users should thoroughly understand the terms and conditions, as well as the associated risks, before engaging in margin trading activities.
4.2.2. Deposit / withdrawal
We provide the service of depositing Virtual Assets into LYOTRADE's wallet from an external wallet, and withdrawal of Virtual Asset to an external wallet.
4.2.3. Buy/Sell
We provide the service of purchasing Virtual Asset in fiat through various payment methods, as well as sales of Virtual Asset which are received in fiat into the User's configured bank account.
4.2.4. DEX Swap
We offer DEX Swap services to our Users, which enable them to exchange Virtual Assets across different blockchain networks. With our DEX Swap feature, Users can easily and securely swap Virtual Assets from one blockchain to another without the need for traditional centralized exchanges. This service enhances accessibility and liquidity for Users, allowing them to participate in cross-chain asset exchanges seamlessly.
4.2.5. Crypto loan
We offer Crypto loan services, allowing Users to borrow Virtual Assets by using their existing Virtual Asset holdings as collateral. The borrowed funds are typically issued in the form of stable coins, which provide stability and minimize exposure to price volatility. By leveraging their Virtual Asset holdings as collateral, Users can access additional liquidity without the need to liquidate their assets. This service provides flexibility and enables Users to utilize their Virtual Assets as a means to reliable loans for various purposes.
4.2.6. Savings
We offer a savings service on our Platform, allowing Users to earn interest on their BTC, ETH, and USDT holdings without being subject to a lock-in period. Similar to Staking services, Users have the opportunity to earn rewards on their savings while maintaining the flexibility to withdraw their crypto at any time.
You shall note that the availability and specific rewards applicable to this Savings service are determined solely at our discretion. We strive to provide attractive rewards to our Users, but it's essential to understand that the rewards are subject to change and may depend on various factors.
In the event that rewards are available for the Savings services, we will publish the details of these rewards on our Platform. By doing so, Users will have the necessary information to effectively participate in the rewards program. Our Platform will provide clear and transparent communication regarding the rewards, including any eligibility criteria, terms, and conditions associated with earning and redeeming the rewards. It is recommended that Users regularly check the Platform for updates and announcements related to available rewards to ensure they can make the most of the opportunities presented.
4.2.7. Staking Pools Staking is a process in which individuals hold virtual assets in a specialized wallet for twelve (12) or twenty-four (24) months. By choosing to stake with LYOTRADE, you are confirming that you have read, comprehended, and accepted all the terms and conditions associated with the Staking Pools. Furthermore, you acknowledge and agree that you will adhere to these terms and be bound by them. You shall note that if you do not understand these terms, it is advisable not to participate in staking with LYOTRADE. Staking is available on our Platform for two tokens, such as LYOCREDIT and USDT. You can access the Staking page by visiting the following link: You acknowledge and agree that the estimated Annual Percentage Yield (APY) provided is subject to daily adjustments based on the on-chain staking rewards. This means that the APY may vary depending on the rewards distributed by the blockchain network. During the staking period, it is crucial to understand that your Virtual Assets will be locked on-chain. As a result, you will not have the ability to withdraw or perform any transactions involving the allocated assets until the staking period concludes. This lock-up period ensures the integrity and security of the staking process. Therefore, before participating in staking, we recommend carefully considering the duration of the lock-up period and understanding the implications of not being able to access or utilize the staked assets during that time. You acknowledge and agree that unlocking your staked assets requires a specific amount of time, which is determined by the specifications of the underlying blockchain network you are staking on. The exact duration of the lock-up period will depend on the specific chain and staking rules in place. You further agree that the redemption or release of your LYOTRADE locked staking amount will only occur after the designated time period for staking has elapsed. It is your responsibility to consider this time frame when planning your staking activities. Upon the expiration of the subscribed locked staking product, your assets will be redeemed from the blockchain. However, please be aware that the redemption process requires a specific unlocking period. The redemption process may take one day to unlock the tokens and an additional day to redeem the assets. You agree and acknowledge that the actual time required for redemption may vary due to factors such as blockchain network conditions and time zone differences. As a result, it's possible that the entire process, including unlocking and fund redemption, may take up to thirty (30) days in total. The withdrawal of the principal amount is only possible on the day of the principal release date. The User’s interests will be automatically deposited to the Spot Wallet, and you may withdraw the interest received at any time during the staking period. Please note that the amount staked in the Staking Pool is subject to the volatile nature of the Virtual Asset. This means that the principal amount you have staked may fluctuate due to the inherent volatility of the Virtual Asset. Additionally, the interest accumulated on a daily basis is also subject to the volatile nature of the Virtual Asset you have staked. The interest earned can vary based on market conditions and the performance of the Virtual Asset you have staked. By participating in the Staking Pool, you agree and acknowledge that there are inherent risks associated with the volatile nature of the Virtual Asset. These risks may result in potential fluctuations in the principal amount staked and the interest earned. In the unfortunate event of the User's death, as stipulated in clause 9, the interest accumulated up to that point will be withdrawn according to the terms and conditions outlined in that clause. You agree and acknowledge the risks associated with the volatile nature of the Virtual Asset before participating in the Staking Pool. Carefully reviewing and comprehending the specific terms and conditions, including clause 9, will provide further clarity on the procedures and actions taken in the event of the User's death.
4.2.8. Referral and promotional program
Occasionally, we may introduce referral programs and promotional campaigns on our Platform. Users will be notified about such campaigns through official channels. To stay updated with the latest information, you can visit our official channels at
You shall be cautious and vigilant regarding potential scams. Beware of entities or individuals using airdrops and free tokens as a means to deceive people on social media platforms like Telegram, Facebook, and Instagram. Scammers may operate under names such as LYO Ecosystem and LYO Credit. These scams typically entice Users to send Virtual Assets transactions to specific wallets by promising profits or requesting Users to click on risky links. Always exercise caution and verify the authenticity of any page or account you encounter. Ensure that you are interacting with the original and legitimate sources associated with LYOTRADE.
You acknowledge and accept that LYOTRADE will never ask you to send transactions to Virtual Assets wallets or share sensitive information. If you come across any suspicious profiles or encounter potential scams, please report them immediately to protect yourself and other users from fraudulent activities.
  1. 5.
We grant you a revocable, limited, non-transferable and non-sublicensable license to access and use the Services through any compatible devices for your personal purposes. You are prohibited from using our Services for resale or commercial purposes, including Transactions on behalf of other persons or entities, without proper authorization.
By agreeing to these Terms, you acknowledge that all the elements contained within the Services, including but not limited to text, graphics, user interfaces, visual interfaces, photos, sounds, process flow diagrams, computer code, programs, software, products, information, and documents, as well as the design, structure, and layout of any content, are exclusively owned, controlled, and/or licensed by LYOTRADE licensors or affiliates.
All intellectual property rights and ownership of the content and design of our Services belong to LYOTRADE licensors or affiliates. You accept and acknowledge that these rights shall not be engaged in any unauthorized use, reproduction, or distribution of the materials or content without the necessary legal authorization.
  1. 6.
In the event of any attempt to access unauthorized parts or functions of our Services, violate security or authentication measures, impersonate or manipulate identification, disguise your identity or the origin of messages or transmissions, or use our Services in any illegal manner, we, as the service provider, reserve the right to take the following actions under relevant regulations, without your consent or prior notice:
i. Suspend the account temporarily: We may temporarily suspend your account to prevent further unauthorized access or to investigate the security breach or suspicious activity.
ii. Freezing your account: In cases of severe security breaches or violation of our Terms, we may freeze your account, restricting any further activity until the issue is resolved or further investigation is conducted.
iii. Reporting the incident to relevant authorities (if applicable): We have a responsibility to report any illegal activities or security breaches to the relevant authorities as required by law. This helps in maintaining the security and integrity of our platform and protecting our users.
iv. Deleting any information, you published that violates our Terms: If any information or content published by you is found to be in violation of our Terms, we reserve the right to delete such content to ensure compliance and maintain the integrity of our Platform.
v. Terminate your account: In cases of repeated or severe violations of our Terms, unauthorized activities, or fraudulent behavior, we may take the ultimate step of terminating your account. This action may result in the permanent removal of your access to our Services.
For more specific information on the actions we may take and the circumstances under which they apply, we recommend referring to these Terms provided by our Platform or reaching out to our support team for further assistance.
  1. 7.
7.1. In accordance with the Terms provided, it is recommended that you read the Risk Disclosure available on our Platform. This Risk Disclosure is designed to provide information about the risks associated with the services offered by LYOTRADE. Each service provided by LYOTRADE carries its own distinct risks, and you shall be aware of and understand these risks before using our Services. The Risk Disclosure document aims to outline these risks to help you make informed decisions. However, it's essential to note that the Risk Disclosure available on our Platform may not cover every risk that you may encounter while using Virtual Assets. Further, it may not address how these risks specifically relate to your personal circumstances. Therefore, it is advisable to consider your individual situation, risk tolerance, and seek independent advice if necessary.
7.2. By accessing or using our Platform, you are voluntarily choosing to engage in sophisticated and risky asset Transactions. You are further acknowledging that you are aware of the inherent risks associated with using cryptographic and blockchain-based systems including, but not limited to, risks of financial loss, technology glitches and hacking. LYOTRADE strives to provide state-of-the-art systems and security measures to safeguard User Virtual Assets. However, you shall note that certain issues and risks are unavoidable in any technological system. In the event that you encounter issues or problems while using our Platform, such as technical difficulties with depositing or trading Virtual Assets, it may take a significant amount of time to resolve these issues, ranging from days to weeks or even months. Furthermore, there may be instances where certain issues cannot be resolved at all. You shall be aware of these risks and to exercise caution when using our Platform. This includes being prepared for potential delays or difficulties that may arise and understanding that the resolution of such issues may not always be immediate or guaranteed.
7.3. We are committed to addressing and resolving any issues that may arise to the best of our ability. Our Platform strives to provide a reliable and secure environment for Users to engage in asset transactions. However, it is essential for Users to be mindful of the inherent risks associated with asset transactions and to exercise diligence and risk management practices. While LYOTRADE takes measures to mitigate risks, it is ultimately the responsibility of Users to make informed decisions and manage their own risk exposure.
7.4. To ensure a safer and more secure experience on our Platform, you are encouraged to:
7.4.1. Educate yourselves to gain a comprehensive understanding of the Virtual Assets you are trading, the market dynamics, and the associated risks.
7.4.2. Conduct thorough research and stay informed about the latest developments, news, and market trends that may impact their trading decisions.
7.4.3. Implement risk management strategies to set appropriate risk thresholds, diversify their portfolio, and use tools such as stop-loss orders to limit potential losses.
7.4.4. Keep personal information secure and safeguard login credentials, enable two-factor authentication, and be cautious of phishing attempts or suspicious communications.
7.4.5. Adhere these Terms and guidelines, security protocols, and recommended practices provided by us.
7.5. We are dedicated to providing state-of-the-art systems and security measures to ensure the smooth operation of our Platform. However, you shall recognize that despite these efforts, certain issues and risks are inevitable in any complex system. If you encounter any issues or problems while using our Platform, including technical difficulties related to depositing or trading Virtual Assets, it is possible that resolving these issues may require a significant amount of time. The resolution timeline can vary, ranging from days to weeks or even months, depending on the nature and complexity of the problem. We strive to address and resolve any issues that arise, there may be instances where certain issues cannot be fully resolved or may take an extended period of time to rectify. In such a situation we will make every reasonable effort to mitigate and resolve any problems promptly, and you accept and acknowledge that some issues may remain beyond our Platform's control.
7.6. You further understand that the markets for Virtual Assets are highly volatile due to factors including but not limited to, adoption, speculation, technology, security, and regulation. You acknowledge and accept that the cost and speed of transacting with cryptographic and blockchain-based systems are variable and may increase dramatically at any time. You further acknowledge and accept the risk that your Virtual Assets may lose some or all of their value while they are supplied and you may suffer loss due to the fluctuation of prices of tokens in a trading pair or liquidity pool, and, especially in expert modes, experience significant price slippage and cost. You understand that anyone can create a token, including fake versions of existing tokens and tokens that falsely claim to represent projects, and acknowledge and accept the risk that you may mistakenly trade those or other tokens. You further acknowledge that we are not responsible for any of these variables or risks, and cannot be held liable for any resulting losses that you experience while accessing or using our Platform. Accordingly, you understand and agree to assume full responsibility for all of the risks of accessing and using our Platform.
7.7. Future Trading- By participating in a Future contract you enter into an agreement to buy or sell an asset at a future date for a fixed price. Generally, it is used to lock in profits when trading in volatile markets. You further understand and acknowledge that;
7.7.1. As a future trader, you acknowledge and agree that you shall access and use the futures trading services at your own risk and you will be solely responsible for any trading/non-trading activity in our Platform.
7.7.2. You shall not enter into any Transactions or invest in funds that are above your financial abilities. Failure to maintain a sufficient amount of assets in your account can result in insolvency of assets in your future account and hereby, you agree and consent to maintain your account a sufficient amount of Virtual Assets required by us to engage in future trading.
7.7.3. You acknowledge and agree to trade in good faith. In the event we suspect your account to be in violation of this term, we shall have the right to immediately suspend, freeze or lock the Virtual Assets in your account.
7.7.4. You acknowledge and agree to conduct all futures trading on your own account and claim full sole responsibility for your own decisions and activities. We shall not take any responsibility for any losses or damages incurred as a result of your use of any Services or your failure to understand the risks involved associated with assets. You acknowledge and agree that you fully understand the high risk of Futures Trading and you have read and understood all these Terms.
7.8. Margins Trading- By participating in Margin trading, you are borrowing money from a brokerage and using that money to buy stocks. It is a form of leverage, that you may use to magnify your returns. Accordingly, you understand and acknowledge that;
7.8.1. as a leveraged trader, you agree to access and use Margin trading services at your own risk. Using margin to support spot Transactions involves a high degree of risk.
7.8.2. You acknowledge that the use of leverage may result in major gains or losses due to volatility and may lose capital quickly in the trading market. In such an event you may lose more funds than you deposit in your LYOTRADE account.
7.8.3. You acknowledge and agree to sell your Virtual Assets without any notification and we are not obliged to notify you. By agreeing to these Terms, you acknowledge that we are not responsible for the above-mentioned risks, and you voluntarily accept such risks by deciding to engage in Virtual Assets Transactions on our Platform.
7.9. In any circumstances if we identify and/or suspects that you have engaged in crypto Market Manipulation including Pump and Dumps scheme, Front-Running, Wash trading, Spoofing and Layering, Stop hunting, Churning, Quote stuffing, False trading, Insider dealing, Price rigging, any deceptive activity, we reserve the sole discretion to freeze, suspend and/terminate your Transactions/account in our Platform.
  1. 8.
8.1. We reserve the right to take various actions, including but not limited to suspending, freezing, blocking, or terminating your access to any or all of our Services/Account, based on certain circumstances and in our sole discretion. These actions may be taken in the following situations:
8.1.1. If we are required to do so by an arbitration, court order, or any binding order issued by a government authority;
8.1.2. If there is a reasonable suspicion that your account is being used in connection with a Prohibited Activity or Business;
8.1.3. If there is a reasonable suspicion or identification of any suspicious activity or Transaction associated with your account, particularly related to a Prohibited Activity or Business;
8.1.4. If we reasonably identify or suspects that you are a sanctioned individual or entity;
8.1.5. If you are found to be violating or breaching any of these Terms, Privacy Policy, and/or Cookie Policy of LYOTRADE, we reserve the right to suspend, freeze, block, or terminate your access to your account/Services.
8.2. In the event of any suspension, freezing, blocking, or termination of your LYOTRADE account and any of our Services, we will provide you with notice of our actions unless a court order or other legal process prohibits us from providing you with such notices. You acknowledge that we shall have the sole discretion to take any action of suspension, freezing, blocking, or termination of your account/Services and these may be based on any confidential criteria that are essential to our risk management and security protocols. Along with that, you further agree that we are under no obligation to disclose the details of its risk management and security procedures to you.
8.3. If you wish to deactivate your account, you can do so by reaching out to us through Upon receiving your deactivation request, we may require you to withdraw any remaining balance in your account within forty-eight (48) hours. You shall be aware that this time frame allows you to complete the necessary steps to withdraw your funds before the account is permanently deactivated. Once you have withdrawn your account balance as requested, we will proceed with deactivating your account permanently. This means that you will no longer have access to the Services and features provided by us.
  1. 9.
9.1. In an unfortunate event of a death of a User who is a natural legal person, if we receive a legal document confirming the User's death or any other information that leads us to believe that the User has passed away, we will take the following action:
9.1.1. We will freeze the User's account, which means that no transactions or activities will be permitted on the account.
9.1.2. To grant access to the designated fiduciary in the event of a User's death, we may request supporting legal documents such as: Death Certificate: A certified copy of the User's Death Certificate, which provides official documentation of the User's passing. Probate Document or Letter of Administration: These documents establish the legal authority of the designated fiduciary to act on behalf of the deceased User and manage their estate. Valid Will or Similar Testamentary Document: If the User has left a valid Will or any other testamentary document specifying the designated fiduciary, we may require a copy of such a document to verify the fiduciary's authority.
9.1.3. If we determine, in our sole and absolute discretion, that there is uncertainty regarding the validity of the fiduciary designation for the diseased User’s account, we reserve the right to require an order from a court of competent jurisdiction to resolve any issues or disputes concerning the fiduciary designation.
9.1.4. Pursuant to clause 9.1, in an unfortunate event of the death of a User, the staked amount will be released after the applicable locked period as chosen by the deceased User. This means that if the User had staked a specific amount of Virtual Assets, those assets will be released to the designated fiduciary after the locked-up period has ended.
9.1.5. Accordingly, subject to clause 4.1.7, the designated fiduciary will be given two (2) opportunities to access the deceased User's account. The specific manner and procedure for granting access to the fiduciary will be outlined in the respective clauses. Firstly, upon receiving all legal documents as stipulated in clause 9, we will grant access to the deceased User's account for a period of forty-eight (48) hours. During this timeframe, the fiduciary will have the ability to transfer all the remaining Virtual Assets from the deceased User's account to his/her own wallet or any desired wallet address as he/she sees fit. Secondly, the designated fiduciary will be permitted to withdraw the staked amount and the accumulated interest after the entire locked-in period has been fulfilled. Additionally, the designated fiduciary will need to wait for an additional period of thirty (30) days, as described in clause, before he/she can initiate the withdrawal process. By accepting this term, you acknowledge and understand that the volatile nature of the staked Virtual Asset may have an impact on the value of both the principal amount and the accumulated interest, and this volatility may result in potential gains or losses.
  1. 10.
10.1.1. In the event of the liquidation of a Corporate Client, which is a legal entity, whether through voluntary or involuntary liquidation, bankruptcy, or liquidation by court order or authority, the Authorized person of the Entity and/or the Ultimate Beneficial Owner (UBO) of such entity shall have the right to claim the Virtual Asset owned in their corporate account.
10.1.2. To initiate the process, the Authorized person of the Entity or UBO of the Corporate Client will need to submit the necessary legal documents related to the liquidation of the entity. Once the documents are received and verified, the Corporate Client will be granted the right to withdraw, sell or transfer the Virtual Asset.
  1. 11.
If you have Virtual Assets held in your LYOTRADE account and there is no record of your use of our Services for a period of more than ten years, we may categorize these funds as "Unclaimed Property." In such cases, the funds will be placed in the custody of LYOTRADE, and we will adhere to the applicable laws and regulations of Costa Rica, specifically those pertaining to unclaimed property of Virtual Assets, if such laws exist or are introduced in the future.
  1. 12.
In no event shall we be liable for any inaccuracy, error, delay or omission, failure in performances or interruption of services of any transmission or delivery of information as required by these Terms or caused by, directly or indirectly, forces beyond its reasonable control of LYOTRADE, including but not limited to any act of God, action of government, act of terrorists, war, fire, interruptions in telecommunications or internet services or network provider services, software malfunctions, strikes, work stoppages, accidents, civil or military disturbances, or any other catastrophe or any other causes beyond our reasonable control.
  1. 13.
In no event shall LYOTRADE, its affiliates and service providers or any of the respective officers, shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers, joint ventures or contractors, be liable for any special, incidental, indirect, intangible, punitive, consequential damages or any lost profits, diminution in value, any loss, damage, breach of data arising out of Services, any performance or non-performance of Services or other product provided by or on behalf of LYOTRADE and its affiliates, whether under tort, contract, statute, strict liability, negligence or otherwise arising out of or in connection with authorized or unauthorized use of our Platform or Services or contract even if an authorized representative of LYOTRADE has been advised of or knew or should have known of the possibility of such damages, and notwithstanding the failure of any agreed or other remedy or compensation of its essential purpose, except to the extent of a final judicial determination that such damages were result of our gross negligence, fraud, willful misconduct or intentional violation of law. Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, so the above limitation may not apply to you.
  1. 14.
To the maximum extent permitted under applicable law, Service provided by or on behalf of LYOTRADE are offered on an “as is'' and “as available” basis, without any representation or warranty, whether we expressly, impliedly, or statutorily disclaim them, and you waive, any and all other warranties of any kind, whether express or implied, including, without limitation, warranties of merchantability, fitness for a particular purpose, title, or non- infringement or warranties arising from course of performance, course of dealing, or usage in trade. Without limiting the foregoing, we do not represent or warrant that our Platform or Services are accurate, complete, reliable, current, error-free, or free of viruses or other harmful components. Further, we do not guarantee that any order will be executed, accepted, recorded, or remain open. Except for the express statements, agreements, and rules set forth in these Terms. You hereby acknowledge that information you store or transfer through the Services may become irretrievably lost, corrupted, or temporarily unavailable due to a variety of causes, including software failures, protocol changes by third party providers, internet outages, force majeure events, or other disasters, including third party distributed denial of service (DDoS) attacks, scheduled or unscheduled maintenance, or other causes either within or outside our control. You are solely responsible for backing up and maintaining duplicate copies of any information you store or transfer through our Services.
  1. 15.
You agree and acknowledge that you will indemnify and hold LYOTRADE, its affiliates, service providers, directors, agents, respective officers, employees, joint venturers, representatives, contractors, and licensors harmless from any and all claims, demands, losses, proceedings, suits, or damages, costs or expenses, including attorney’s fees, and any fines, fees, or penalties imposed by any regulatory authority arising out of or related to any violation or breach of this agreement or any applicable law, regulation, or rights of any third party. In such circumstances, we reserve the right, in our sole discretion, to control any action or proceeding in the manner we wish to settle it.
  1. 16.
16.1. We have implemented a comprehensive complaints procedure to ensure that all User complaints are handled fairly and efficiently. If you are dissatisfied with our Services, experiencing technical issues, or have any other inquiries, you can contact our Customer Support team by submitting a Ticket by visiting in our Platform.
16.2. Once a Ticket is received by our Customer Support team, the assigned Customer Support executive will acknowledge the receipt of the Ticket to the User. This acknowledgment serves as confirmation that we have received your Ticket and that it is being reviewed.
16.3. During the initial review process, the Customer Support executive will assess the details provided in the Ticket and gather any additional information or documentation that may be required to address your concerns effectively. This step helps us gain a better understanding of the issue or inquiry and ensures that we have all the necessary information to provide a suitable response. Please note that the initial review may take some time depending on the complexity of the matter and the volume of Tickets received. We appreciate your patience during this stage as we strive to provide thorough and accurate assistance to each User.
16.4. In the event the Tickets are related to the following issues, the Customer Support executive will assign the Tickets to the IT Department:
16.4.1. OTP issues
16.4.2. Unable to proceed with Transaction issues
16.4.3. Function error issues
16.4.4. Staking issues
16.4.5. Other technical department related issues
16.5. In the event the Tickets are related to the following issues, the Customer Support executive shall assign the Tickets to the Compliance Department:
16.5.1. KYC related issues
16.5.2. Transactional issues
16.5.3. Account creation and deactivation issues
16.5.4. Email address or phone number change
16.5.5. Reset two factor authentication requests
16.6. The Customer Support executive shall make every effort to investigate your raised issues and shall acknowledge receipt of your Tickets within twenty-four (24) hours from the receipt of your complaint. In any exceptional circumstances, subject to the issues raised by the User, the Ticketing process might take approximately five (5) to seven (7) business days to be solved. In the event of exceeding such stipulated time, the Customer Support executive will inform you of the reason for such delay.
16.7. If the Customer Support cannot meet the expectations of the User, the User shall have the ability to reopen the Ticket for further investigation. Please note that we shall consider your complaint as closed and cease the relevant investigation in case you fail to respond to our officers within the period of one (1) month from the date of the submission of your complaint.
  1. 17.
Any dispute arising out of or in connection with these Terms, including any question regarding their existence, validity, or termination, shall be referred to and finally resolved by arbitration under the London Courts of International Arbitration (LCIA) Rules. The arbitration shall be conducted by a sole, neutral arbitrator and shall take place at LCIA London. The proceedings shall be conducted in the English language. The decision reached through arbitration will be final and binding on all parties involved. The governing law of these Terms shall be the substantive law of Costa Rica.
  1. 18.
You and LYOTRADE agree that, to the extent permissible by law, all claims must be brought in a party’s individual capacity, and not on a class, representative, or collective basis, and the parties hereby agree to waive all rights to have any dispute brought, heard, administered, resolved, or arbitrated on a class, collective, or representative basis. Disputes involving more than one User cannot be arbitrated or consolidated with those of any other User. Combining or consolidating individual Arbitrations into a single Arbitration is not permitted without the consent of all parties. The purpose of this provision is to establish that disputes will be resolved individually rather than through collective or class actions.
  1. 19.
Our privacy and the protection of your Personal data are of the utmost importance to us. We are committed to handling your Personal data responsibly and in accordance with applicable data protection laws. To understand how we collect, use, store, and disclose your personal information, as well as your rights and options regarding your personal information, please review our Privacy and Cookie Policy.
  1. 20.
If you have any complaints or other inquiries, please email us on [email protected] and/or visit