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Spot & Margin & OTC Trading
OTC Trading
How to use the Binance OTC Trading Portal
Binance
2020-04-01 08:50

 Step 1: Go to otc trading portal and log-in to your KYC verified (level 2) account

 Step 2: Choose whether you want to buy or sell


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Step 3: Choose the coins you would like to trade

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Enter one of the two amount boxes and press “Get Quote” to receive a quote

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Step 4: Our price quote will show, which you can either choose to accept or reject

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Once the quote expires, you can request for another quote

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Step 5: Once you accept the quote, you will see a trade confirmation screen, and our team will settle your trade as quickly as we can directly into your Binance account.

FAQ

Is there a minimum trade amount?

- Yes, the minimum trade amount is an equivalent value of 10,000 USDT worth of coins. 

 

What are the fees?

- We do not charge any fees on OTC trades. However, there will be a spread (if you are buying, our prices will be above the market price. If you are selling, our price will be below the market price).

 

How many coins are available for trading?

- There will initially be 25 coins available for trading on the portal, with plans to add more in the future. If you’d like to trade coins that are not on the portal (must be listed on Binance), please email tradedesk1@binance.com or message one of our authorized traders on our Binance Trading Telegram channel.

 

How do I make deposits and withdrawals for OTC trades?
- There is no separate wallet for OTC trades. Simply make deposits and withdrawals to your account’s spot wallet to trade.

Where can I check my OTC trade history?
- Log into your account and go to https://www.binance.com/en/usercenter/otc-history. 

 

I received an “insufficient funds” error?

- To confirm an OTC trade, you must have the required amount of coins that you are selling in your account. For example, if you want to buy 10 BTC with USDT and the price per BTC is 5,000 USDT, then you must have at least 50,000 USDT in your account to confirm the trade.

 

Can I use either an individual (personal) KYC verified account or a corporate (entity) KYC verified account?

- Yes, both individual and corporate KYC verified accounts are able to trade.

 

Can I confirm trades on credit (without coins in my Binance spot wallet)?

- No, you must have the required amount of coins for the trade in your Binance spot wallet (not margin or futures wallets).


Have more questions?submit a request