Frequently Asked Questions

Account

How can I contact MIAXdx?

We're here to help! You can reach us by emailing support@miaxdx.com.

How can I open a MIAXdx account?

You can open an account on start.ledgerx.com! The application is easy and only takes 5 minutes. 

MIAXdx customers are required to provide a document that reflects being a U.S. resident, including a driver's license, state ID, passport, passport card or permanent resident card. 

  • Full name
  • Email address
  • Date of birth
  • Address details
  • ID document
  • Social Security Number (SSN)
Can non-U.S. individuals open an account?
Not yet! Trading on MIAXdx is currently only available to all United States individuals in all 50 states and the United States territories. We hope to expand to additional jurisdictions soon!

We are currently accepting company/institution applications for:
  • United States (US), Cayman Islands, or British Virgin Islands (BVI) entities
  • Entities wholly owned or managed by a United States entity/individual
How can I open a company account?
We are currently accepting company/institution applications for:
  • United States (US), Cayman Islands, or British Virgin Islands (BVI) entities
  • Entities wholly owned or managed by a United States entity/individual

Documents required for the company application:
  • Certificate of Good Standing
  • Organizational Documents such as LLC Operating or Partnership Agreement and Registration Certificate, Certificate of Incorporation and Bylaws, or other organizational documents
  • Anti-Money Laundering (AML) policy. If your entity does not need an AML letter because it does not accept outside funds, please upload a signed document with this statement.
  • Beneficial Owner IDs
  • Legal Entity Identifier (can request from https://lei.bloomberg.com/ and it generally takes less than 24 hours). We are required to obtain this for regulatory reporting

Start your company application here.

We do not support self-directed IRA accounts or trust accounts right now. We hope to accept self-directed IRAs and trusts in the future.

What is an Eligible Contract Participant (ECP) and Block Trading?
Institutional accounts on MIAXdx must qualify as an Eligible Contract Participant (ECPs). An Eligible Contract Participant (ECP) is a special category by the CFTC for entities (corporations, trusts, brokerage firms, etc.) or high net worth individuals that allows them to engage in certain financial transactions that are not open to all investors. Block trading is available to institutional accounts for specified products.

Participants can qualify as an ECP in a number of ways, such as meeting a net asset requirement: net assets exceeding $1 million for entity accounts hedging risk or $5 million for individual investors if hedging risk. If you qualify to be an ECP and are interested in learning more, you can contact us at sales@miaxdx.com.
Can I add another user to my account? 
Add/Edit users on the fly under the account settings tab of your profile.

1. Sign in to your MIAXdx account and navigate to the "account settings" section. This can be found on the left-hand pane of your dashboard. 

2. Add users on an ad hoc basis and customize permission levels specific to each user.  View specifics on user permissions and roles. 

3. Easily navigate between Active/Inactive users. Users can have their own 2FA set up when their status gets switched to active. 

Note: To change your email address or phone number, contact support at support@miaxdx.com 

Funds Overview

Is there a minimum deposit amount?
U.S. Dollars (USD) is the only collateral accepted for trading MIAXdx BTC Range Binary Option Contracts. Cryptocurrency and other non-USD assets are not accepted as collateral for trading. With a small contract notional size of $10, you can start trading MIAXdx BTC Range Binary Options with only a few dollars. Note that you pay trading fees and also must collateralize the risk of your positions.

To start trading BTC Range Binaries, deposit USD into your account. 

Contracts on MIAXdx trade between between $0.01 and $9.99. Participants with “Yes” or “long” positions in a  range receive the full notional amount of the contract ($10) at settlement if that range is the winning range and Participants with “No” or “short” positions for that range receive no payment. For non-winning ranges, “No” or “short” positions receive a payment, while the “Yes” or “long” positions will receive no payment.

Does MIAXdx have trading, storage, and withdrawal fees?
View the MIAXdx fees here. We do not charge delivery fees.
 

Regulation & Security

How is MIAXdx regulated? 

MIAXdx is a U.S. federally regulated exchange and clearinghouse. MIAXdx holds three licenses with the U.S. Commodity Futures Trading Commission (CFTC):

  • Derivatives Clearing Organization (DCO)
  • Designated Contract Market (DCM)
  • Swap Execution Facility (SEF)

These licenses enable us to operate our exchange and clearinghouse in all 50 states in the US (including its territories), with access to certain international jurisdictions.

What is the CFTC?
The U.S. Commodity Futures Trading Commission (CFTC) is an independent federal agency of the U.S. Government and oversees and regulates derivatives markets, including swaps, options and futures on bitcoin and ethereum.  

What is a clearinghouse?
Clearinghouses hold and monitor risk in the regulated financial system, ensuring counterparties can meet the financial obligations represented by their positions. MIAXdx maintains a Derivatives Clearing Organization (DCO) license issued by the U.S. Commodity Futures Trading Commission (CFTC), which authorizes us to clear fully collateralized futures, options on futures, and swaps (which include options on commodities).

All trades executed on MIAXdx DCM are cleared by the MIAXdx DCO.
How does MIAXdx handle custody for US dollars?
Cash is held in custodial accounts at Customers Bank. View digital asset custody and insurance information
How does MIAXdx custody digital assets?
We partnered with BitGo to provide multi-signature wallet services. Learn more about Custody & Insurance here.
Does MIAXdx undergo financial and security audits?
MIAXdx has undergone independent annual audits covering financials, cybersecurity systems, internal control mechanisms, and more.
  • Anti Money Laundering (AML):  MIAXdx has undergone a full analysis and review of our OFAC (Office of Foreign Assets Control) procedures and AML processes, strategy, policy, controls and related technologies.
  • Financial Condition: Grant Thorton audited MIAXdx financial condition and expressed an unqualified opinion (i.e., clean bill of health) that our financial statements were presented fairly, in all material respects, in accordance with US GAAP accounting principles.
  • Digital Currency: Because we custody bitcoin and ethereum on behalf of our clients, Grant Thorton conducted a thorough examination of how we hold digital assets.
  • Security: Praetorian, a trusted name in cybersecurity, performed an Information Technology (IT) Security Risk Assessment that evaluated the effectiveness of MIAXdx's existing security controls.
  • Internal Controls:  MIAXdx has undergone an audit of our internal controls (technically known as a SOC I Type II Audit) to ensure that they are operating effectively and appropriately protecting client data.
  • Onsite IT systems: Every year, the CFTC examines one aspect of our operations with a special emphasis. Last year, this examination covered our onsite systems and safeguards.

Market Operations

MIAXdx exchange is open daily from 9:30 am ET open to 4:00 p.m. ET close, excluding holidays and weekends, unless otherwise designated by the Exchange. The Exchange is closed daily between 4:00 p.m. ET and 9:30 am ET, and on all Saturdays, Sundays and Exchange holidays, as defined on the Exchange holiday schedule here.

 

 

Where can I view my Balances?
Click here to view information on how to see your balances. 
 

 

Reporting Error Trades
The MIAXdx error trade policy can be found in our rulebook (Rule 11.8 Error Trade Policy). Error trades must be reported within 10 minutes to errors@miaxdx.com. MIAXdx will use the policy outlined in our rulebook to determine if the error trade request is valid and falls outside the No Cancellation Range. The no cancellation range can be found in our rulebook (Rule 11.11 No Cancellation Ranges). 

 

Please email errors@miaxdx.com to report error trades within 10 minutes of trade execution.

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