on-01 General

BlockEx is a Digital Asset Exchange Platform (DAxP). The DAxP is an institutional grade exchange with Blockchain based digital asset origination and life-cycle management tools. Blockex offers a full white label brokerage solution that comes with leveraged trading, social trading, OTC desk and full back office. The BlockEx DAxP includes a digital asset creation tool, exchange, clearing, settlement, registry and brokerage software. BlockEx has been building its platform since Sept 2014 and is currently offering its products to other registered exchanges, brokers, financial institutions and SMEs looking to raise funds. Any product BlockEx builds either leaves behind a tradable asset or creates distribution and deal flow. In June BlockEx entered the FCA sandbox for issuing bonds via its platform leveraging Blockchain.

BlockEx Markets is the Digital Asset Exchange Platform run by BlockEx. The exchange is HFT capable with institutional connectivity via API, FIX and ITCH protocols and is digital asset framework (Blockchain/DLT) agnostic. The brokerage will be part of BlockEx DAxP pooled liquidity, and will therefore have much better liquidity than any other exchange. BlockEx Markets operates 24/7, allowing for a truly global exchange. Currently the assets trading on BlockEx Markets are cryptocurrencies like Bitcoin and Ethereum, however a trader on BlockEx Markets will soon have access to the more traditional financial assets, built on top of Blockchain framework, that will be issued on the exchange, provided they have passed the level of KYC required.

A Cryptocurrency or Digital Currency is a currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of cryptocurrencies is that they are not issued by any central authority, rendering it theoretically immune to government interference or manipulation. Good examples of cryptocurrencies would be Bitcoin, Ether and Litecoin.

A digital asset is any traditional financial asset built using Blockchain technology.

Please follow the Sign Up. Alternatively click on Sign Up link at the top right corner of the homepage, or scroll to the bottom of the page, where you’ll also find a Sign Up button.

Currently BlockEx Markets does not accept customers from the United States, due to regulation. We also do not accept any customers from these blacklisted countries: Belarus, Burma, Côte d’Ivoire, Democratic Republic of Congo, Cuba, Iran, Iraq, Liberia, North Korea, Sudan, Syria and Zimbabwe. However, traders from all other countries are welcome on our platform.

We are currently onboarding traders from the US for platform demo purposes only. They will not be able to deposit or trade until we become fully licensed in the United States. We are working hard on this subject, so please follow us for more updates on this matter.

Once you have logged in, go to Settings tab on the left-hand menu and select the option to change your language in the User Details tab. Currently we only support English, but we are working on introducing more languages as soon as possible.

You can find the full list of Assets in our Asset Wiki

Currently, we offer cryptocurrencies paired with Euro. There will be other pairs offered very soon, so stay tuned.

The trollbox is a chat box for all the traders within BlockEx Markets. They will not be able to communicate with traders of other brokerages within BlockEx DAxP.

Whilst the cryptocurrency markets are not currently regulated in most jurisdictions, BlockEx operates a stringent compliance regime. Our internal policy is to shadow the regulatory requirements in traditional financial services. BlockEx ensures full coverage governance and reporting, a complete know-your-client and anti-money laundering policy and appropriate risk and liquidity management.

If you were not able to find the help you were after, please email us at: support@blockexmarkets.com and your query will be answered within 48 hours of receipt. If we see that this question is indeed relevant, we’ll add it to these FAQs.

on-02 ICO

An ICO (Initial Coin Offering) is the issuance of digital tokens. The revenues generated from tokens are used to further business ventures. In an ICO, a newly issued token is sold to the buyers in exchange for fiat or cryptocurrencies. The newly issued token will have a genuine utility or application within the project. For our ICO, the DAXT will unlock the Pot Allocation System during ICO pre-sales on our platform.

BlockEx Limited is a London based fintech company. We are launching the Digital Asset Exchange Platform (DAxP), a global marketplace for all asset classes and instruments using distributed ledger technology (DLT). We have built the ICO Market and the Digital Asset Exchange Token (DAXT) as part of our efforts to add Initial Coin Offerings (ICOs) to the asset classes being serviced.

BlockEx is having an ICO to distribute our utility token, the DAXT, which is necessary to fuel our Pot Allocation System. We also want to demonstrate what a gold standard, fully compliant ICO looks like, and to engage with the crypto community and a broad group of investors.

The ICO Market is an online marketplace. Individuals looking to issue ICOs can publish information, and individuals looking to purchase ICOs can view this information. Through this marketplace, BlockEx will offer ICO pre-sales and general sales. BlockEx will proactively manage the information being published by the issuers so that it is reliable. Information on multiple ICOs will be viewable on one market. This makes marketing ICOs to a large crowdbase easier. The DTPO will resolve problems relating to distribution and allocation, and lack of regulatory compliance and standards, in the current ICO market.

BlockEx is not asking you to believe in ideas in a white paper. We are a financial technology firm that has already met technical, business and regulatory milestones, and has a functioning product.

We already have global clients and key partnerships in place. We have a good relationship with regulators, and have been accepted to the FCA and AIFC sandboxes for our bond issuance tool.

We are fully AML and KYC compliant. We have the contacts and expertise to carry out our projects to the highest standard.

Our ICO platform facilitates ICO issuers to run their ICO using any fiat or cryptocurrency as the input transparently and on chain.

Our ICO pre sale starts on the 18th of December 2017, and our general sale on February 10th 2018. It will end on February 26th 2018.

For our ICO, BlockEx is launching a utility token, the DAXT. This will be used to unlock the Pot Allocation System during the pre-sale of ICOs on the BlockEx ICO Market, guaranteeing an allocation of tokens. It will be ERC223 compliant, so can be sold on the secondary market, both on our DAxP, and eventually on other platforms supporting tokens following the ERC20 standard.

BlockEx’s ICO will use the Pot Allocation System to distribute tokens, the same as any ICO run on our platform. The way the Pot Allocation System works is that when an ICO on pre-sale is oversubscribed, the oversubscribed amount of funds will be returned to participants, and tokens will be distributed proportionately.

Each DAXT token will cost €1.

We are offering 130 million tokens.

BlockEx’s ICO has a cap of €35.7 million.

BlockEx will manage the supply of coins so that there is always DAXT available to access our Pot Allocation System.

On our platform, and for our own ICO, left over coins will be returned to the issuer.

To get involved with the BlockEx ICO, all parties must sign up to the BlockEx Markets. They will need to pass Know Your Customer checks. After passing these checks, the client will be eligible to participate in the ICO. To purchase tokens during the pre-sale and general sale, the customer will need to pre-fund their account at BlockEx Markets, either directly funding it through a variety of depositing methods.

We can accept most fiat currencies but they will be converted into EUR, additionally any cryptocurrency the platform supports (As of 01/11/2017, ETH and BTC)

BlockEx will be using the funds from the DAXT sale (pre-sale and general sale) in the following ways:

Business use

  • 15% PR & Marketing
  • 20% Scaling Legal & Compliance Team
  • 25% Scaling Technical Team
  • 25% Licensing & Legal Fees

Surety bond

  • 15% assigned to create a surety bond to insure against catastrophic events on the DAxP.

We are issuing our ICO in the UK, and will follow British laws.

on-03 Account

The Welcome Email is sent automatically, please allow up to 15 minutes. Also please check your Spam. If it hasn’t reached you within 24 hours contact support at support@blockexmarkets.com with the subject ‘Welcome email’.

To recover your password click on the Log in button as you’d normally do. After typing in your username, you’ll be prompted for your password. Underneath the password field you’ll find Forgot Password link. Please fill in your username and email when asked and an email with further instructions will be sent to you. Just follow the instructions in the email to recover your password.
If you have forgotten your username, please email us at: support@blockexmarkets.com, and request a reminder.

Unfortunately you are not able to delete your account. For compliance reasons we have to keep the history of verified trader, so if you do not wish to continue trading with us, just send an email to support@blockexmarkets.com with the subject ‘Disable my Account’, please also give us your username and describe your reason for leaving.

Do to the compliant nature changing email is a long process however it is completely necessary email us at support@blockexmarkets.com, with subject ‘Change email’. This is a manual process and will require additional KYC procedure.

If you were not able to find the help you were after, please email us at: support@blockexmarkets.com and your query will be answered within 48 hours of receipt. If we see that this question is indeed relevant, we’ll add it to these FAQs.

on-04 Depositing/Withdrawing

BlockEx Markets offers various options for funding your trading account. All options for depositing and withdrawing are the same. For a full list of deposit and withdraw options please see our Funding Options page.

We accept deposits in majority of fiat currencies. There are a few currencies that we do not support, for a full list of please refer to our Funding Options page. Please note that Euro is the main trading fiat currency on the platform, so if you are depositing in a currency other than Euro it will automatically be converted into Euro. BlockEx markets covers most of the transaction and exchange fees, that occur during deposit, however your bank may charge you some fees, that are not under our control, please consult with your bank regarding these fees.

At this moment BlockEx Markets supports deposits in Bitcoin, Ether and Litecoin. The list of cryptocurrencies available to deposit is due to be expanded to the top 10 cryptocurrencies, so please follow the news and check the Funding Options page regularly.

Unfortunately this is not possible due to compliance reasons. The bank account holder’s name must match the name on the Trader’s account with BlockEx Markets. Same for the credit/debit cards – the name on the card has to be the same as the name of the account holder. If the names do not match, the deposit will not be accepted.

Your deposit/withdrawal limits are dependent on your KYC tier – the more verified you are, the higher the limits. For a comprehensive guide on how KYC scheme works at BlockEx Markets please visit the KYC page.

Most of the deposit fees are covered by BlockEx Markets. However your bank may charge you some fees, these are not under our control, please consult your bank regarding these fees. For additional details on all deposit methods and their specifics, please refer to the Funding Options page.

Depositing fiat currencies is fairly simple procedure. You would need to be logged in to your BlockEx Markets account. If you don’t have one please Sign Up for one now. Once you are logged in, click on the Cashier icon on the left-hand side menu, or Deposit button in the top-right corner and select your prefered deposit method. Follow onscreen instructions to finalise your deposit transaction.

Once logged in, click on the Cashier icon on the left-hand side menu and select Withdrawal option. Choose where would you would like your funds to be withdrawn to and follow onscreen instructions to finalise your transaction.

Once you are logged in, click on the Cashier icon on the left-hand side menu, or Deposit button in the top-right corner and select your prefered deposit method. Follow onscreen instructions to finalise your deposit.

Click on the Cashier icon on the left-hand side menu and select Withdrawal option. Choose what crypto wallet you would like your funds to be withdrawn to and follow the onscreen instructions to finalise your withdraw.

As a deposit bank transfers depend entirely on your bank, as soon as we have the money your account will be funded, for more information you will need to contact your bank. Processing withdrawals takes us 2 working days. After withdrawals have been approved and sent from us, it’s again on the side of your bank. Time may differ if you are transferring funds internationally, so please check with you bank.
If the transfer in or out, takes longer than 5 working days from approval, please contact us at support@blockexmarkets.com.

Minimum amount will vary from your chosen method of deposit:

Fiat Deposits:
– Credit/Debit Card: EUR500
– Bank Wire Transfers: No minimum

Cryptocurrency Deposits:
– BTC: No minimum
– ETH: No minimum

If you were not able to find the help you were after, please email us at: support@blockexmarkets.com and your query will be answered within 48 hours of receipt. If we see that this question is indeed relevant, we’ll add it to these FAQs.

on-05 Compliance

Know your customer (KYC) is the process of a business identifying and verifying the identity of its clients. This is a legal obligation and company policy for us to prevent any financial crime.

You should be able to find all the information on this topic on our KYC page

We follow standard banking KYC protocols. As a trading platform, we have to know who you are and where your money has come from – this is so we can ensure that you are not a criminal and moving the proceeds of crime. The more information you provide the more certain we can be, subsequently allowing you to deposit and withdraw more.

To trade on the platform you must complete a certain amount of KYC. The minimum KYC required to trade is a valid Photo ID and Proof of Address, both these documents need to be updated after a period of 6 months has lapsed.

It shouldn’t take longer than 2 working days for tier 1 or 2. There might be busier periods, when verification takes longer, if this is the case you will be notified.
For tier 3 and tier 4 the process can take from 1- 2 weeks depending on the completeness of information provided.

It might vary from country to country, but generally, as long as you have a valid government issued ID and a valid Proof of Address, it shouldn’t matter which country you are applying from.

If you were not able to find the help you were after, please email us at: support@blockexmarkets.com and your query will be answered within 48 hours of receipt. If we see that this question is indeed relevant, we’ll add it to these FAQs.

on-06 Trading

After you deposit funds into your BlockEx Markets account, just head to Traderoom, where you can make an order to buy or sell any cryptocurrency on the exchange.

A warning will be displayed, to confirm the trade details, which the user can choose not to see again. Matched trades cannot be unwound. Before, you make a trade MAKE SURE all the information is correct. This is the sole responsibility of the trader. We repeat, matched trades cannot be unwound.

Limit trades last until they are cancelled.

The minimum order allowed on the platform is 10 Euros.

To view your trade history go to the Trade Room window and scroll down to the latest trades tab. Click on ‘My Latest Trades’ tab to view your trading history. You can also access your trade history from the Profile Window.

We are working to implement other fiat currencies on our platform. We will notify you as soon as we do.

To cancel an order please click on the Open Orders tab on the left-hand side menu. All of your open orders will be displayed in this tab. Next to each order you have an option to cancel it.

We charge a fee of 0.25% per trade.

If you were not able to find the help you were after, please email us at: support@blockexmarkets.com and your query will be answered within 48 hours of receipt. If we see that this question is indeed relevant, we’ll add it to these FAQs.

on-07 Security

No, the deposited funds are not insured. However, due to the nature of BlockEx’s set up nobody but yourself will be able to access these funds. This is done by holding the funds in a segregated form broker trust account, meaning that without nobody can access them, apart from yourself.

The core technology behind BlockEx Markets platform has been built and secured by the world’s top banking security experts to keep our customers information and funds safe. Using multi-sig wallets and cold storage your deposits are always safe and continuously monitored by our first class security team.

To make your account more secure, it is key to enable two factor authentication. This can be found in Settings in User Details.

Two Factor Authentication, also known as 2FA, two step verification or TFA, is an extra layer of security that is known as “multi factor authentication”. The process adds an extra safeguard to user’s account and requires not only a password and username, but also something that only, user is aware of.

In order to set up 2FA on your account, go to Setting and find a 2FA toggle underneath User Details. Switch it on and follow the instructions to enable 2FA function.

If you were not able to find the help you were after, please email us at: support@blockexmarkets.com and your query will be answered within 48 hours of receipt. If we see that this question is indeed relevant, we’ll add it to these FAQs.