Digital Securities FAQ
What type of marketable orders does Openfinance take?

You can place Limit Orders (orders will only execute at a specific price).

Are the orders filled “all or none” or “partial”?

Limit orders are “partial until filled or canceled”


What are the trading hours?

24 hours, 7 days a week, 365 days a year.

Can I trade a currency token on Openfinance?

No. Openfinance is a trading platform for securities only.

I am a U.S. resident and can’t enter a buy or sell order for a token listed on Openfinance?

Certain securities are considered “restricted securities” under SEC Rule 144.  Generally, these securities require a minimum period of one year from issuance before U.S. resident investors can sell or buy in the secondary market.  Please consult the issuer of the security for more information regarding transfer and resale restrictions.

What is a Trading Wallet?

The Trading Wallet shows you the $USD you have available to trade, your open obligations and your trading history.

Total Cash Value - The current amount of $USD held in your Trading Wallet.

Open Commitments - Each open order or bid must be “covered” by an equal value of USD from your total cash value. The amount equal to your open buy orders is “held” to cover to cost of your bids.

Buying Power - This is your Total Cash Value ($USD) less your Open Commitments. If you want more buying power you will need to deposit $USD into your Trading Wallet or reduce your open commitments.

How do I deposit or withdraw funds from my Trading Wallet?

DEPOSIT

U.S. resident users can deposit funds in one of three ways:

  1. ACH - This method requires that you link a bank account to your Openfinance account. From the Navigation Bar on the top of the screen, select “Wallet”. Next, click the DEPOSIT button. From the drop down menu, select your bank and the amount you would like to deposit. Lastly, click the SUBMIT DEPOSIT button. Note, an ACH deposit can take up to three (3) US banking business days to settle and be available for trading. If you have not added a bank account to your profile or if your bank does not appear on the drop down menu, you will need to use one of the following options to fund your Trading Wallet. See Openfinance Funds Availability Disclosure for important information about deposits made via ACH.
  2. External USD Wire - From the Navigation Bar on the top of the screen, select “Wallet”. Next, click the DEPOSIT button. From the drop down menu, select EXTERNAL WIRE INSTRUCTIONS. Upon doing so, wire instructions will be presented on your screen. Print or write down this information and click the DONE tab. Present this information to your preferred bank and request that they wire funds to Evolve Bank & Trust for further credit to your account. Once Openfinance receives the deposit, funds will be added to your Trading Wallet. See Openfinance Funds Availability Disclosure for important information about deposits made via external USD wire.
  3. Ethereum Deposit - This method requires that you have ETH in your linked MetaMask wallet before starting this process. From the Navigation Bar on the top of the screen, select “Wallet”. Next, click the DEPOSIT button. From the drop down menu, select ETHEREUM INSTRUCTIONS. Upon doing so, instructions will be presented on your screen. The ETH will be converted to USD by a banking partner and the funds will be added to your Trading Wallet. See Openfinance Funds Availability Disclosure for important information about depositing ETH.

Non U.S. resident users can deposit funds in one of two ways:

  1. External USD Wire - From the Navigation Bar on the top of the screen, select “Wallet”. Next, click the DEPOSIT button. From the drop down menu, select EXTERNAL WIRE INSTRUCTIONS. Upon doing so, wire instructions will be presented on your screen. Print or write down this information and click the DONE tab. Present this information to your preferred bank and request that they wire funds to Evolve Bank & Trust for further credit to your account. Once Openfinance receives the deposit, funds will be added to your Trading Wallet. See Openfinance Funds Availability Disclosure for important information about deposits made via external USD wire.
  2. Ethereum Deposit - This method requires that you have ETH in your linked MetaMask wallet before starting this process. From the Navigation Bar on the top of the screen, select “Wallet”. Next, click the DEPOSIT button. From the drop down menu, select ETHEREUM INSTRUCTIONS. Upon doing so, instructions will be presented on your screen. The ETH will be converted to USD by a banking partner and the funds will be added to your Trading Wallet. See Openfinance Funds Availability Disclosure for important information about depositing ETH.

WITHDRAW

You can withdraw funds in one of two ways:

  1. Wire to Linked Bank - This method requires that you link a bank account to your Openfinance account. From the Navigation Bar on the top of the screen, select “Wallet”. Next, click the WITHDRAWAL button. Enter the amount you want to withdraw. From the drop down menu, select your bank account. Lastly, click the WITHDRAW FUNDS button. If you have not added a bank account to your profile or if your bank does not appear on the drop down menu, you will need to use one of the following options to withdraw funds from your Trading Wallet. See Openfinance Funds Availability Disclosure for important information about USD withdrawals.
  2. Ethereum Withdrawal - From the Navigation Bar on the top of the screen, select “Wallet”. Next, click the WITHDRAWAL button. Enter the amount you want to withdraw. From the drop down menu, select ETHEREUM WITHDRAWAL. Lastly, click the WITHDRAW FUNDS button. A banking partner will convert USD>ETH and deposit the ETH to your Metamask account. See Openfinance Funds Availability Disclosure for important information about USD>ETH withdrawals.

When are funds from trading activity available to be withdrawn?

Funds are available for withdrawal after a trade has settled (user accounts are credited and Trading Wallets are updated). This occurs when the banking partner that holds your funds receives confirmation that the token has transferred from the buyer to the seller and completes the reconciliation of the buyer and seller accounts. Note that settlement is NOT instant and that the Openfinance platform utilizes US-based banking systems, regulations and hours. Please read the Openfinance Funds Availability Disclosure e for more information.

What is the name of the bank that is holding the funds in my Trading Wallet?

Evolve Bank & Trust, which is an FDIC member, with accounts insured up to a balance of $250,000.

What happens if a trade fails to execute or settle?

You will receive an auto-generated email if a match fails to execute and settle.  The Buyer and the Seller should consider the transaction null and void and the orders canceled.

Join Us

Join our mailing list or follow us & stay informed about out news and updates

your information will be handled as detailed in our Privacy Policy

Thank you for joining and welcome to INX.
Oops! Something went wrong while submitting the form.