1. Welcome
Welcome to the Wirex Multiply Terms of Service!
These Multiply Terms of Service together with the Wirex General Terms of Service, Crypto-Assets Terms of Service, Crypto Credit Terms of Service and any other referenced documents (collectively the “Multiply Terms”) govern the use of the Wirex Multiply product and form the legal agreement between:
You, as the Wirex client; and
The Wirex company that provides you with access to the Wirex Service and your Wirex Profile is identified in the respective Wirex Crypto-Assets Terms of Service ("Wirex", or "we", "our", or "us").
By accepting these Multiply Terms, you confirm that you have read, understood, these Multiply Terms. You acknowledge and agree to be bound by these Multiply Terms. If you do not fully understand these Multiply Terms, you should not accept them.
2. Setting Up a Multiply Deal
Wirex Multiply is a crypto-asset financing product.
Multiply involves significant risk. Leverage magnifies both gains and losses. Adverse market movements may result in the reduction or total loss of your Multiply Initial Amount.
When entering into a Multiply Deal:
1. You agree to transfer full legal and beneficial ownership of the specified crypto-asset amount (the “Multiply Initial Amount”) to Wirex for the duration of the Multiply Deal.
2. Upon transfer, those crypto-assets become the property of Wirex and may be used, rehypothecated, transferred, or otherwise disposed of at Wirex’s discretion.
3. In consideration for such transfer, Wirex creates a contractual obligation to you reflecting the leveraged economic exposure defined by your selected Crypto Pair, Multiplier, and other parameters.
Multiply operates through a series of financing and principal transactions. Wirex may extend financing exposure referencing the selected Crypto Pair and apply such exposure through internal principal transactions. These transactions do not constitute custody, trust services, fiduciary services, portfolio management, or investment advisory services.
You may initiate and configure a Multiply Deal through the Wirex Platform by:
- Selecting a crypto-asset pair (the “Crypto Pair”)
- Selecting market direction (UP or DOWN)
- Selecting the type and amount of crypto-asset to transfer as your Multiply Initial Amount
- Selecting your desired Multiplier (2x–50x, subject to availability)
- Setting optional Take Profit and Stop Loss parameters
Take Profit and Stop Loss levels are contractual settlement triggers and do not guarantee execution at a specific market price.
Once confirmed:
- You authorise deduction of the Multiply Initial Amount from your available balance.
- You agree to the transfer of ownership of that amount to Wirex.
- Wirex may accept or reject any Multiply Deal at its discretion, subject to market conditions and internal risk limits.
All Multiply Deals are subject to Wirex’s acceptance and market availability.
3. Closing a Multiply Deal
A Multiply Deal may close:
- Automatically, if Take Profit or Stop Loss parameters are triggered, or
- Manually, if you elect to close the Multiply Deal on Wirex Platform.
Wirex may also close a Multiply Deal where required by risk management thresholds, insufficient value coverage, market disruption, or other circumstances defined in these Multiply Terms.
Closure results in termination of the relevant financing exposure and crystallisation of the contractual settlement amount.
Wirex is not responsible for losses arising from the lawful execution of automatic or risk-based closure mechanisms, subject to applicable law.
4. Returns
Upon closure of a Multiply Deal, Wirex determines the settlement amount by calculating the net difference between:
- The value of the leveraged exposure referencing the selected Crypto Pair at the time of closure; and
- The aggregate financing exposure and accrued Roll-Over Fees.
You do not retain ownership rights in any crypto-assets transferred at the outset of the Multiply Deal. Instead, you hold a contractual claim against Wirex for the net settlement amount determined at closure.
If the settlement amount is positive:
- Wirex will credit your Wirex Profile with the Multiply Initial Amount plus the net positive difference, less applicable Roll-Over Fees.
If the settlement amount is negative:
- Wirex will credit your Wirex Profile with the Multiply Initial Amount minus:
- The net negative difference; and
- Any applicable Roll-Over Fees.
If losses and fees exceed the Multiply Initial Amount, the position will be closed in accordance with risk controls, and no additional liability will arise unless expressly agreed.
Settlement amounts are contractual and reflect leveraged exposure performance, not ownership of underlying crypto-assets.
By entering into a Multiply Deal, you acknowledge that:
- Your claim is unsecured.
- You are exposed to Wirex’s credit risk.
- No custody, bailment, or trust relationship is created.
5. Roll-Over Fees
For each open Multiply Deal, Wirex charges a financing fee (the “Roll-Over Fee”), calculated hourly as a percentage of the Multiply Initial Amount and based on the selected Multiplier.
The applicable Roll-Over Fee rate will be displayed prior to confirmation of the Multiply Deal.
Roll-Over Fees:
- Accrue at the start of each hour while the Multiply Deal remains open.
- Are deducted as part of the settlement calculation upon closure.
- Are not refundable once accrued.
If a Multiply Deal closes before completion of a full hourly period, the pro-rata portion of the current hour will apply, and no future Roll-Over Fees will accrue after closure.
6. Our responsibility to you
Nothing in these Multiply Terms excludes, restricts or modifies any rights, remedies or guarantees you may have under the Australian Consumer Law, the Australian Securities and Investments Commission Act 2001 (Cth), or, for New Zealand residents, the Consumer Guarantees Act 1993 and the Fair Trading Act 1986, to the extent that those rights, remedies or guarantees cannot be excluded or limited (“Non-Excludable Rights”).
We do our best to ensure that:
- the Wirex Multiply Service is of a reasonably satisfactory standard and match any descriptions we have provided to you; and
- any elements of the Wirex Multiply Service that requires a connection to the Internet will always be available to you.
The values of Transaction crypto-assets and other currencies in the relevant Crypto Pair are derived from public exchanges. Pricing for crypto-assets in Crypto Pairs that are less commonly traded may not always be available. While we do our best to execute and close all Multiply Deal s in accordance with your instructions as quickly as possible,
there may be a delay between you asking us to close a Multiply Deal through the Wirex Service and us being able to close that transaction.
The value of crypto-assets can also fluctuate rapidly. If the relative values of the crypto-assets in your Crypto Pair change between the point at which you ask to close your Multiply Deal and your Multiply Deal closes, your Return or Loss may be higher or lower than the amount displayed to you on the Wirex Service.
In every case, we will never be responsible for any loss or damage that:
- is not reasonably foreseeable, meaning it was not obvious that it would happen and nothing you said to us before we accepted your Multiply Deal meant we should have expected it; or
- was caused by a failure by you to comply with these Wirex Multiply Terms, the General Terms or the Crypto-asset Terms, or was otherwise something you could have avoided by taking reasonable action; or
- relates to your use of the Wirex Multiply Service for the purposes of your trade, business, craft or profession.
The above does not affect your rights under the applicable law of the country in which you are resident, including our responsibility to you if we deliberately breach our commitments in these Wirex Multiply Terms.
7. Amendments to these Multiply Terms
We may amend these Multiply Terms from time to time for just cause. Unless a shorter period is required under applicable laws, where feasible we will notify you at least 2 months in advance of any upcoming changes that materially affect your rights, obligations or the benefits you receive under the Wirex Multiply Service. If you do not agree with the changes, you must cease using the Wirex Multiply Service before the effective date of the new terms. By continuing to use the Wirex Multiply Service after the changes take effect, you are deemed to have accepted the updated terms.
Certain changes may take effect immediately and without prior notice, particularly where required by law or where we make minor adjustments that do not materially affect your rights, remedies or our obligations. In such cases, we will inform you as soon as reasonably practicable.
We will publish updated Multiply Terms on the Wirex Platform, and the updated Multiply Terms will apply from the effective date specified in our notice to you (or, where immediate effect is required by law, from the date of publication on the Wirex Platform).
8. Miscellaneous
These Multiply Terms shall be governed and interpreted in accordance with laws specified in the Crypto Assets Terms of Service you have accepted.
Unless stated otherwise in these Multiply Terms, if any provision is found to be invalid or unenforceable by a court or competent authority, such provision shall be deemed modified or, if necessary, struck out to the extent required, and the remainder of these Multiply Terms shall remain in full force and effect.
The failure or delay by Wirex in exercising any right or enforcing any provision of these Multiply Terms shall not be deemed a waiver of such right or provision. Any waiver must be made in writing to be effective. All rights and remedies under these Multiply Terms are cumulative and not exclusive of any rights or remedies provided by law.
You may not assign or transfer any of your rights or obligations under these Multiply Terms without our prior written consent. Wirex may assign or transfer its rights or obligations under these Multiply Terms to another entity as part of a reorganisation, restructuring, merger, acquisition or transfer of business, provided that such assignment or transfer does not materially adversely affect your rights under these Multiply Terms. Where reasonably practicable, we will notify you of any such assignment or transfer. No third party shall have any rights to enforce any part of these Multiply Terms. Any dispute arising from or in connection with these Terms shall be subject to governing law and courts specified in the Crypto Assets Terms of Service you have accepted, without prejudice to any rights the user may have under the laws of their country of residence or domicile, including the right to bring a claim before the courts of that country. Nothing in these Terms shall affect the user’s statutory rights as a consumer under the laws of their country.