BFX OTC Service
Blast Futures OTC Service
In order to meet the rapidly increasing trading needs of our VIP users, BFX is proud to offer our very own OTC trading service. Here’s a quick introduction to the BFX OTC trading procedures and processes to facilitate a smooth trading experience for you.
To get started:
You will be required to have an existing BFX account
All trades are pre-funded using available margin from your trading account
Settlement will take place in your trading account, we will never require you to send assets to be settled to any external wallets
Minimum size starts from USD 100K for BTCUSDT and ETHUSDT, and 50K for all other assets
Trading Procedure:
To initiate BFX OTC services, please join the BFX OTC Telegram Channel, or submit a general ticket in the BFX Discord and state that you would like to use our OTC services.
Once you are in touch with a team member on Discord or Telegram, please provide your BFX connected wallet address. Once your account has passed margin requirement checks, you will be added to a private telegram group chat with the BFX OTC trading team.
To request for a quote, please state your trading pair, quantity and direction. E.g. “I am looking for a quote to buy 15 BTC/USDT”.
The BFX trading team will acknowledge your quote request and proceed to quote if your account meets the margin requirements.
If your BFX account is not yet funded and you are looking for an indicative quote, you may also request for one. Do note that these quotes are indicative at time of quoting. You may proceed to request a live quote when the trade is funded in your account.
Once a live quote is provided, you may accept a quote by replying “done”, after which the trader will confirm by acknowledging your response with “done”. You may decline a quote anytime and respond with “nothing done” or “pass”.
Live quotes are valid for up to 60 seconds from quotation or whenever the trader provides an updated quote, asks for you to “refresh” or “ref” or deems the quote as stale by saying “off”.
IMPORTANT: Once a trade is confirmed after the BFX trader replies “done”, the trade is confirmed at the quoted price. Thus it is deemed that you have provided confirmation and the assets will be debited immediately for trade settlement and you cannot cancel the trade.
Settlement timeframe takes up to 25-30 minutes, should more time be required beyond the standard settlement timeframe, you will be notified ahead of time.
Note that BFX OTC only supports Perpetual Futures.
Before beginning trading and requesting for a quote, please take a moment to review the procedure above for your acceptance.
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