FAQ——Deposit and withdrawal

 What are the ways to deposit funds?

1. If you want to deposit in local currency, you can choose to purchase USDT deposit in local currency through the OTC market (other cryptocurrencies will be launched later).

Depositing and withdrawing funds through the OTC market is a great innovation in the financial market. It provides investors around the world with a method of exchange allowed by most legal frameworks. You can buy USDT in local currency and certified merchants in the OTC market, and convert USDT into US dollars at a 1:1 ratio and deposit it in your SFEX trading account.

Note: The full name of USDT is Tether US, which is a token issued by American Tether based on the stable value currency US dollar, that is, 1 US dollar is approximately equal to 1 USDT. 1 USDT = 1 USD, users can use USDT and USD to exchange 1:1 at any time.

2. If you already have USDT, you can choose to deposit USDT directly

By binding your remitted USDT wallet address, you can deposit USDT directly into your SFEX wallet

3. If you have USD assets, you can choose bank wire transfer

You can buy US dollars in the bank or directly wire the US dollars to the SFEX supervision account through your US dollar deposit account

 Is there a charge for depositing funds?

SFEX will not charge fees for deposited funds. Depositing funds in different ways may incur other costs due to your deposit method or its related intermediary bank.

 How long does it take for funds to be deposited into my trading account?

1. Withdrawal via UnionPay transfer usually takes 5-60 minutes to arrive.

2. Deposit by depositing USDT directly, usually within 5-60 minutes.

3. Depositing funds via bank wire transfer generally takes 1-3 business days to arrive. (The arrival time mainly depends on the processing time of your remitting bank).

 What currencies are currently supported by wire transfer?

In order to improve operational efficiency, at this stage we only open US dollar deposits.

 Do you accept third party deposits?

We do not accept third party deposits or withdrawals of funds deposited by wire transfer. We can't guarantee receipt of the third party's payment, nor can we guarantee the refund.

 How to withdraw funds?

Withdrawing funds from the SFEX trading account is quick and easy. You can submit a withdrawal request directly at the VIP center.

 Does the withdrawal involve any fees?

Every VIP customer has a free wire transfer withdraw once a month. The second withdrawal will charge a fee of US$20 per transaction. It is completely free to transfer via UnionPay.

 How long does it take to process a withdrawal?

SFEX will endeavor to process your withdrawal request as soon as possible. Generally speaking, your withdrawal will be processed within 1 working day.

The time required to withdraw funds will depend on the method you choose.

Withdrawal via bank wire transfer usually takes 3-5 working days to arrive (generally requires a shorter time).

Withdrawal via UnionPay transfer usually takes 1-3 business days to arrive (usually a shorter time).