Frequently Asked Questions

Explore our Frequently Asked Questions for in-depth information and insights on a variety of topics. Find clarity and guidance on common queries related to our services and more

What is NjordX Finance?

NjordX Finance is an OTC cryptocurrency trader that enables our clients to trade fiat and digital currencies.

Do your services require an account?

Yes. In order to use our trading services, clients must first complete the onboarding process by providing us with the documentation we require. Once the information has been verified and approved, our clients can begin trading.

What are the documents that need to be signed for a trade?

In order for any trade to be processed, both an Order and Transfer form need to be signed and submitted. An Order Form details every aspect of the requested order, including the contract number, rates and fees, date and time of the contract acceptance as well as the currencies traded. The Transfer Form details the recipient’s payment details, including bank account numbers or digital wallet addresses where the traded funds will be deposited once the funds have been received and the transaction is processed.

When will my funds be transferred?

The earliest date that funds will be transferred to the client account is indicated by the Value Date of the specified transaction.

What fiat payment options are available?

NjordX Finance currently only accepts bank transfers when accepting fiat currencies for the purpose of a trade.

What cryptocurrencies can be traded?

Currently, NjordX Finance facilitates trades of BTC, ETH, EUR, USDT. However, we are always looking for opportunities to take on new currencies in order to meet demand.

What is OTC trading?

OTC in the crypto market refers to off-exchange trading of digital assets directly between two parties. OTC means over the counter and involves large-volume crypto transactions that aren’t executed on public exchanges, often to avoid affecting market prices. Such trades provide privacy, as they aren’t visible on order books. Over the counter works best for institutional investors and high-net-worth individuals looking for OTC crypto stocks.The most popular OTC desks feature Bitcoin, since crypto over-the-counter started with Bitcoin. BTC OTC remains popular today. OTC brokers can facilitate transactions with Bitcoin, offering minimum slippage and market impact.

How does a crypto OTC trading platform work?

NjordX efficiently manages large-volume transactions within a secure and compliant framework. These trades are executed with speed and discretion. What distinguishes our OTC crypto exchange is its ability to handle substantial transactions without triggering noticeable market price fluctuations, thereby mitigating the risks associated with price volatility and slippage.

How does OTC crypto exchange differ from standard trading?

The contrast between traditional cryptocurrency exchange trading and the operation of an OTC platform is rooted in the structure and effects of transactions. In the typical exchange environment, buy and sell orders are matched among numerous traders, with each transaction being public and capable of influencing the market.
On the other hand, OTC crypto desks are designed to accommodate substantial transactions. What sets them apart is their ability to execute trades without causing market price disruption. This is a result of the discreet nature of these trades, which ensures they have no impact on other market participants.

What documentation is required for onboarding?

All of our clients are fully vetted prior to being approved. In order to do so, we require a piece of government-issued identification, a detailed description of business activities, a proof of residence and both Income and Account Statements.

How do you carry out a trade?

Once verified and approved, trades can be initiated via an initial email request. Once requested, an exchange and value date will be provided by NjordX Finance alongside the necessary Order and Transfer forms. Once all of the documentation has been signed and submitted, NjordX Finance will carry out the transaction upon receipt of the necessary funds. Receipts are then delivered with every order.

How are payments made?

All payment instructions for every accepted fiat and digital currency will be communicated to the client on the Order Form. Please note that for all orders, payment must be received by the Balance Due Date indicated on each individual Order Form.

Still have questions?

Contact us. We are happy to help.

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