TORONTO, Canada – VirgoCX, a Canadian cryptocurrency trading platform goes LIVE with its over-the-counter (OTC) trading desk for trades over 75,000 CAD or 50,000 USD for BTC, ETH, and USDT. VirgoCX is currently preparing for the launch of its retail cryptocurrency trading platform in June of 2019. Although the retail platform is not yet live, the OTC trading platform at VirgoCX has been live since April 2019 and has seen rapid growth and exceeded one million dollars trading volume within the first several weeks.
What is VirgoCX OTC Desk?
The VirgoCX’s OTC desk provides premium services to clients who wish to make large cryptocurrency trades (over 75,000 CAD or 50,000 USD). A designated OTC account manager will assist the client in ensuring a smooth trading experience from end to end. No matter whether clients want to buy or sell digital currencies in CAD or USD, VirgoCX will deliver industry-leading service at a highly competitive rate.
At this time, VirgoCX OTC provides BTC, ETH, and USDT against CAD and USD. More cryptocurrencies will be added in the future. The minimum transaction size is 75K CAD or 50K USD, and the maximum transaction size will vary based on each client’s profile.
The regular hours start from 8:30 am to 6:00 pm EST Monday to Friday. Outside of the regular hours, the trading team will be available on a best effort basis. Once the team receives the OTC trade request, one of the account managers will be able to provide the client with a live quote upon request as soon as possible, making sure that the trade can be closed quickly.
“VirgoCX OTC promises to never charge any extra trading fee upon the regular quote we provide. We aim to offer the most competitive OTC quote for all clients,” said Adam Cai, VirgoCX’s CEO.
Key Features of VirgoCX OTC:
Zero Trading Fee: Transparent pricing with no hidden costs.
Fully Regulated: We are fully compliant with FINTRAC rules and regulations and employ the highest internal compliance standards.
Highest Security: We have partnered with trusted North American banks and offer institutional grade crypto storage to protect your assets.
Fast Settlement: Payments are typically settled within the same day or the next business day, and our staffs are ready to assist you 24/7.
Deep Liquidity: Deep liquidity whenever you need it. We will accommodate orders of any magnitude.
Rapid Verification: In most cases, qualified individuals will be verified within 24 hours.
What is the process of placing VirgoCX OTC Trades?
The process of placing VirgoCX OTC trades is straightforward, which includes Account Application, User Verification, Quote Receiving, and Trade Settlement.
– Account Application: There are multiple approaches for clients to register on VirgoCX OTC Desk. Clients can apply on VirgoCX Website (https://virgocx.ca) by submitting required information, as well as email application information to VirgoCX OTC (email@example.com). VirgoCX can open OTC accounts for both retail and institutional clients, and offers a best-in-class trading experience.
– User Verification: When the account is opened, one of our experienced account managers will guide the client through the entire onboarding process from end to end. During that process, the client will be asked to provide related documents, which can help the account manager to complete KYC and AML procedures.
– Quote Receiving: Once the client has passed the verification, the account manager will be able to provide the client with a live quote upon request. The client will have a short period of time to consider and accept the offer.
– Trade settlement: Once the offer is accepted, the client will need to wire fiat currency to VirgoCX’s bank account or transfer digital currency to VirgoCX’s digital currency wallet address. After the transaction has settled, VirgoCX will send the respective tokens or fiat currency to its clients. For Canadian bank transfers(for cryptocurrency sellers), the clients will likely receive any fiat currency due either the same day or the following business day (barring any delays from your financial institution). International wire transfers may take longer to settle. For cryptocurrency buyers, transactions will settle the same day after the fiat funds have been received by VirgoCX.
For OTC Service:
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Last modified (UTC): September 23, 2019 8:43 AM