Over-the-Counter (OTC) Trading allows eligible customers to execute larger cryptocurrency trades directly with Pepperstone Crypto through a dedicated Sales Trader.
The OTC process provides a personalised trading experience, where customers receive a direct quote before confirming their trade.
Step 1: Request an OTC quote
Once you have access to OTC Trading, you can contact your Pepperstone Crypto Sales Trader through your dedicated WhatsApp chat.
Provide details of the trade you would like to execute.
Example:
Buy 1 BTC using AUD
Your Sales Trader will review your request and arrange a quote.
Step 2: Receive a quote
Your Sales Trader will provide a quote for your requested trade.
The quote will include:
- The asset and amount being traded.
- The quoted price.
- The quote validity period.
Cryptocurrency prices can change quickly, so quotes are only valid for the period communicated by your Sales Trader.
Step 3: Confirm your trade
If you would like to proceed with the quoted price, confirm the trade with your Sales Trader.
Example:
Done
Your Sales Trader will confirm that the quoted price is still available before proceeding.
If the quote is no longer valid, you will receive an updated quote and will need to provide a new confirmation.
Step 4: Balance verification
Before your OTC trade can be completed, Pepperstone Crypto will verify that you have sufficient available funds or assets in your account.
Example:
A customer purchasing 1 BTC/AUD must have sufficient AUD balance available to complete the transaction.
If sufficient balance is not available, the trade cannot proceed.
Step 5: Trade execution
Once:
- Your trade confirmation has been received.
- The quote has been validated.
- Sufficient balance is available.
Pepperstone Crypto will execute your OTC trade.
Step 6: Trade confirmation
After completion, your Sales Trader will provide a final trade confirmation containing the details of your completed OTC transaction.
Example:
"For good order, Sarah Foo bought 1 BTC/AUD SPOT for 102K AUD from Pcrypto Pty. ID: O001"