OVEX ARBITRAGE FAQs

Some frequently asked questions and answers on OVEX's Arbitrage service

Are my arbitrage profits re-invested in the arbitrage?

Your arbitrage profits are not re-invested into the subsequent arbitrage loop. Instead, these are paid out to you in TUSD in your OVEX wallet. This means your profits are essentially paid out in US dollars (see the following article for a deeper dive into stablecoins)

 

If I want to cancel my active arbitrage what is the process?

If at any point you would like to cancel your arbitrage, you may do so, provided you grant OVEX with a 10 day notice period

 

Can I access my invested capital whilst my arbitrage is active?

You cannot access your invested capital. This is locked until your allowance threshold is used up

 

Do you have to be a major to use the OVEX Arbitrage Service

You must be over the age of 18 to use the OVEX Arbitrage Service

 

Can a company invest in the OVEX Arbitrage Service?

Unfortunately, only individuals can engage in cryptocurrency arbitrage. This is as a result of capital control laws in South Africa

 

I do not know how to trade, how can I use the arbitrage service?

OVEX offers both a manual arbitrage service and an automated one. The manual arbitrage service is for those who wish to trade in their own capacity through OVEX’s OTC Desk. You must be trading a minimum volume of ZAR500K to access the Desk

 

The automated arbitrage service is simple to use. Just deposit your funds and let OVEX’s expert traders do the rest! You can track the progress of all arbitrage trades on your arbitrage dashboard

 

Why does OVEX create an account for me with Investec or Mercantile?

The first step in cryptocurrency arbitrage involves purchasing U.S. Dollars with which TUSD is bought at the dollar/rand market rate. This TUSD is then sold on OVEX’s local exchange. The proceeds from the trade are paid out into your OVEX wallet and your initial capital is then reinvested into the arbitrage loop

 

How long does it take after I have submitted my application:

It generally takes 7 working days for your arbitrage account to be activated. This is because the banks have to review your FICA documentation before accepting your account application

 

My trade says; ‘Awaiting Settlement’ what does this mean?

Trades that are awaiting settlement still need to be paid out by the banks. Please be patient with trades awaiting settlement. OVEX cannot complete your arb trade until the USD clears offshore. It may be as a result of OVEX double booking trades for you so that you can maximise your returns when a great arb opportunity presents itself