The OVEX Request for Quote (RfQ) system is a vehicle through which you can buy and sell cryptocurrencies.
The OVEX Request for Quote (RfQ) system is a vehicle through which you can buy and sell cryptocurrencies on the OVEX exchange. The system can be accessed by placing your mouse on the OTC drop-down bar and selecting ‘Request for Quote (RfQ)’.
OVEX does not offer a traditional exchange open-order-book. Instead, we built a cutting edge RfQ (Request for Quote) tool available to all small volume traders on the OVEX exchange.
This feature enables traders to place market taker orders with peace of mind knowing that your order will be filled at a competitive price.
The Request for Quote (RfQ) tool empowers you to trade cryptocurrencies by accessing competitive buy and sell quotes on an array of trading pairs
Let us trade BTC as an example:
- First, select the asset you are looking to trade. In this case BTC:
- The next step is to select the trading pair of interest. For example BTC/ZAR:
- Now choose whether you want to Buy or Sell (Bid or Ask):
Here we are looking at buying BTC with ZAR:
- Next, you want to choose a Buy or Sell volume – say for argument's sake you wanted to Buy R100,000 worth of BTC. Input the Buy volume in the ZAR bar and select ‘Get Quote’
- You now have the option to execute this trade by clicking on ‘Accept Quote’
Well done. You just bought BTC with your South African Rands