Main Takeaways

  • Binance Options RFQ is a brand-new product that helps you get deep liquidity on options.

  • Once you have specified your trade details, the system will return a quote. After execution, the trade is automatically added to your options account.

Navigating the diverse array of financial tools may feel overwhelming initially, especially when it comes to trading crypto derivatives. From selecting your preferred options to understanding risk factors, the intricate art of cryptocurrency trading requires careful planning and strategic execution. Today, let's break down how you can efficiently leverage the new Binance Options RFQ.

RFQ stands for ‘Request For Quote.’ As the name implies, this product lets users request option quotes from the Binance OTC Trading Desk. Options RFQ provides institutional-grade prices across all of Binance’s OTC and block trading products.

Below is a step-by-step guide for you to access the Binance Options OTC page and get started with Options RFQ.

Getting Familiar With Binance Options OTC

Before you set sail on your trading journey, ensure that you're logged into your Binance account. If you haven't created an account yet, please do so.

First Step: Reading The Binance Options Agreement 

In order to use the Options OTC page, you first need to acknowledge that you have read the Binance Options Service Agreement, and complete the questionnaire. 

First, if you haven’t done so already, please log into your Binance account. 

Once you’ve logged in, affirm that you have read the Binance Options Service Agreement.

Second, make sure you have completed the questionnaire.

Please answer all questions correctly before you can commence. 

A notification should immediately appear to confirm the successful completion of the questionnaire.

Opening Your Path To Options: Establishing an Options Account 

If you have not already done so, your next move involves the creation of an Options account. 

Having finalized the above steps, you should now be able to access the Binance Options OTC page. You’ll notice that the left side of this page is for entering your trade details, and the right side will be populated with your requested quote, along with some useful data and options greeks. 

Constructing Your Trade: Inputting Details 

In this step, you get to draft your trade by commencing with the selection of the symbol.

Following this, select the option type, its expiry date, strike price, and then input the contract amount (fractional counts are allowed).

Getting Your Quote: Sending An RFQ 

After filling in all the required fields, press ‘Request Quote’ to send your request. 

The field on the right will now be populated with a short summary of your request and the corresponding quote. 

Once you’ve clicked ‘BUY’ or ‘SELL’, the corresponding trade will show up on your Options Position Summary. 

That’s it – you’re all set to get started on your OTC Options journey!

Binance Options RFQ is an essential tool in the arsenal of the professional crypto options trader. It helps provide competitive quotes where the order book liquidity may not suffice. On top of this, it charges no trading fees! 

Further Reading

Risk Warning: Digital asset prices can be volatile. The value of your investment can go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions, and Binance is not liable for any losses you may incur. Futures trading, in particular, is subject to high market risk and price volatility. All of your margin balance may be liquidated in the event of adverse price movement. Past performance is not a reliable predictor of future performance. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use and Risk Warning.