Thalex exchange profile

Thalex’s main account trades contracts whose profit and loss settles in USDt. It is not a purchase of the underlying coin for physical delivery. Futures rolls combine offsetting perpetual/future or future/future legs in one instrument, while options combinations and RFQs offer different ways to execute a strategy.[36]

Market, limit, stop-market, stop-limit, bracket and trailing-stop orders are documented. GTC leaves an unfilled remainder resting; IOC cancels it. Post-only can reprice an order to avoid taking liquidity instead of simply rejecting it. Reduce-only adjusts an oversized instruction to the existing position. Price collars reject distant prices by default, but an explicit override removes that protection.[28]

A hypothetical $100,000 tier-one perpetual fill costs $10 maker or $50 taker, excluding spread, funding and exit charges. Trading fees settle in USDt.[7]

The tariff lists a $0.0001 minimum trade charge and a 12.5% options-fee cap without spelling out the cap’s calculation base in that table. The combo specification still says normal fees apply per leg, whereas the fee page says only the highest-fee leg is charged; confirm this inconsistency before estimating a combo’s total.[7][12]

Perpetual funding accrues continuously, approximately each second, while the displayed rate uses an eight-hour basis. A positive premium generally makes longs pay shorts; a discount reverses that direction. An eight-hour rate display should therefore not be read as a single payment occurring only once every eight hours.[30]

The daily settlement process moves marked profit/loss and trading charges into the settlement-coin balance at 08:00 UTC. A portfolio can have valuable BTC collateral while its USDt balance is negative. The collateral’s market value and the spendable settlement balance answer different questions.[31]

The negative-balance guide expressly says all fees, including withdrawal fees, are charged in USDt. The asset units displayed in the tariff therefore do not establish the actual debit currency. The inspected material does not explain the conversion rate or timing for this difference.[29]

For example, a hypothetical negative USDt balance of 1,000 reduces otherwise available withdrawal capacity by 250 in USD-equivalent terms. This additional retained amount is separate from the collateral already needed for positions.[29]

The terms preserve the customer’s beneficial interest in deposited assets while permitting pooled blockchain addresses and subcustodians. Only settled profit is withdrawable, subject to available balance and other holds. The stated best-efforts withdrawal period is 48 hours, rather than a guarantee; offline custody and compliance checks can extend it.[3]

The rulebook permits further measures if the normal waterfall is insufficient, including loss allocation against unsettled profits, position assignment or reduction and contract termination. Holding a profitable position therefore does not isolate a participant from all system-level close-out measures. The fund should not be equated with statutory deposit insurance.[4]

The risk disclosure separately addresses stablecoin depegging, custody and technology failures. USD quotation is an accounting convention for the contract, while USDt is a cryptoasset used for settlement; neither feature guarantees redemption of the resulting balance at a constant cash value.[5]

The portfolio-margin page includes XAUt in the common collateral pool, while the options specification’s collateral row omits it. This documentation mismatch matters if a trader intends to fund an options portfolio with gold-token collateral: verify its acceptance and valuation for the selected account rather than relying only on the token’s presence in a deposit list.[11][10]

Admission requires identity/business verification and can involve source-of-funds, ownership and ongoing account checks. Requests for updated information can affect continued use.[3]

If two-factor access is lost, the help centre directs the customer to [email protected]. The inspected recovery guide does not state a guaranteed restoration time or fixed post-reset withdrawal hold. Retain transaction identifiers and the account details needed for verification, without sending secret keys or authentication codes.[17]

A complaint should identify the customer/account, event date and time, relevant evidence and requested remedy. Thalex states that it acknowledges complaints within three business days and provides a final response within six weeks after that acknowledgement. This complaint clock is distinct from the legal dispute process.[19]

The rulebook allows market suspension and other interventions during disruption. It does not make support a guaranteed substitute execution channel. A trader using conditional orders or a bot still needs to verify which orders and positions remain after a disruption or an intervention.[4]

The October 2026 privacy notice identifies Thalex Digital Assets Platform S.R.L., Costa Rica company number 3-102-919910. That corporate identification is not itself a financial-services authorisation. A current regulator entry granting the inspected entity’s derivatives permissions was not independently established for this profile.[2]

The current terms contain an unresolved conflict: clauses 24.11–24.12 specify Gibraltar law and exclusive Gibraltar courts, while 24.13 requires binding English-language arbitration in San José, Costa Rica after a 60-day informal process. The profile cannot resolve which clause would govern a dispute.[3]

The website presents a specialist derivatives platform and a separate testnet. The product range is more informative than an unsupported global size ranking: the inspected official pages do not establish a comparable current count of active traders or audited trading volume. A testnet fill is not evidence of live-market depth or a successful real withdrawal.[1]

An API key is created for the selected account or subaccount, with configurable permissions and optional IP/IP-range restrictions. A key’s scope does not automatically extend to every account under the customer’s login. Review the actual selected permissions before giving a program access; the guide does not establish a blanket withdrawal capability for every key.[18]

Operator

Thalex Digital Assets Platform S.R.L.

Exchange model

Centralised

Service scope

Linear crypto derivatives, portfolio margin, option combinations, RFQs and automated trading strategies.

Client types

Retail clients; Professional clients; Institutional clients

Pricing publication

Public pricing

Pricing scope

Published volume tiers, product fees and withdrawal charges.

Funding scope

BTC, ETH, XAUt, USDt and USDC on specified native/Ethereum networks; no fiat deposits.

Custody and asset handling

Centralised collateral custody; customers retain beneficial ownership under the terms.

Client eligibility

Verified participants outside excluded jurisdictions; UK and UAE retail users are excluded.

Support

Help centre, support email and formal complaint submission.

Authorisation and registration scope

Current operator is incorporated in Costa Rica; a financial-service authorisation for that entity was not independently established.

Exchange metadata checked 21 Oct 2026Source 1Source 2Source 3Source 4Source 5Source 6Source 7Source 8Source 9Source 10Source 11Source 12Source 13Source 14Source 15Source 16Source 17Source 18Source 19Source 20Source 21Source 22Source 23Source 24Source 25Source 26Source 27Source 28Source 29Source 30Source 31Source 32Source 33Source 34Source 35Source 36

Delta Hedger supports a timer or delta-deviation trigger, a target for an underlying or particular instrument, a tolerance and a slippage limit. These settings determine when it attempts an actual trade. A slippage pause is different from ending the strategy or closing its positions. The published bot is a user-configured execution tool; no discretionary AI mandate is established by its guide.[26]

The Funded Account campaign is scheduled to end on 31 October 2026 at 08:00 UTC. It is retail-only and uses USDt deposits to grant nonwithdrawable ABC collateral: the $100 minimum tier grants 1,000 ABC; $1,000 grants 5,000. Credit normally arrives within 24 hours. The first trade activates the run and locks the deposit for seven daily settlements. Margin must remain above both initial requirements and 80% of all ABC credited, or all ABC can be removed. Weekly positive net performance can add ABC, subject to a lifetime 10,000-ABC cap per run. Withdrawal requires closed positions, ends the run and cannot be partial; eligible positive cumulative performance after fees, funding and ABC burns pays 80%, with remaining deposit returned separately. Withdrawal processing follows the next daily settlement, within 24 hours. Only one funded account per participant can be active. Top-ups earn no initial ABC; burned credit does not restore cap capacity. Remaining ABC can be traded after the deadline, but new funding/boosts stop. Internal transfers also end a run.[14]

ABC is promotional margin credit rather than withdrawable money, and cannot settle negative profit/loss as an ordinary deposited asset would. Separate ABC terms allow removal after a month of inactivity and withdrawal of improperly obtained credit. That inactivity rule concerns the credit; it does not establish a monthly cash-account fee.[15]