1. What is OTC trading and what are its benefits?
Over-the-counter (OTC) trading takes place between two counterparties as opposed to on an exchange, such as the Binance exchange. At Binance, the two counterparties are the user who requests the trade and the Binance OTC desk.
Prices are agreed between the two counterparties and trade takes place off-exchange. OTC trading is favored for larger trade sizes. It is more discreet and potentially avoids slippage on the exchange without having to navigate the exchange order book liquidity.
2. Who can trade OTC with Binance?
Verified Binance users can trade OTC with Binance. Please note that existing account deposit/withdrawal limits apply.
3. Are there any trading fees?
There are no fees to trade OTC. You may get a live quote for your trade on the Spot Block Trading platform or contact trading@binance.com for more information.
4. What are the minimum and maximum trade sizes?
The minimum trade size for manual OTC trading is 200,000 USD or equivalent. There is no maximum trade size. For trade sizes less than 200,000 USD, you may get a live quote on Binance Convert or trade via the Convert OTC API with no minimum size.
To trade via the Convert OTC API, please refer to the documentation here.
5. How does settlement take place for an OTC trade and how long does it take?
Trades are settled directly to the Binance Spot Wallet you specify (supports both master and sub-accounts). Typically, settlement takes place immediately after your trade.
6. What trading pairs and assets do OTC trading support?
We support the 300+ crypto, stablecoin, and fiat pairs listed on Binance Spot, and any synthetic cross pairs that do not have a direct listing.
7. Is OTC Trading available via API?
Yes. OTC supports trading via API. You may refer to the documentation here, or contact trading@binance.com for more details.
8. Can I trade in fiat currencies?
Yes, you can trade crypto-fiat pairs listed on Binance, including EUR, GBP, and BRL.
9. How do I deposit/withdraw fiat currencies on Binance?
For more details on fiat deposits and withdrawals on Binance, please refer to these FAQ articles.
10. What legal terms apply to OTC trading with Binance?
When you trade with Binance, you are subject to the Binance Terms of Use and the Binance OTC Terms. You may be subject to localized versions of these terms when onboarding to local Binance entities. You may also be required to accept additional terms and conditions depending on the scope of services offered. Should you have any questions, please contact Binance Support.
11. How can I contact the Binance OTC Desk?
You may contact the Binance OTC Desk at trading@binance.com.