What is the Orbex Wallet?
The Orbex Wallet is simply an account that you can use to store funds and make deposits, withdrawals, and internal transfers to and from your trading accounts.
Storing your funds in your Wallet also protects you from risking the entirety of your investment since your funds cannot be used as available margin and are stored separately from the funds in your trading accounts.
Where can I access my Wallet Account?
You can access your Wallet via your MyOrbex area once your KYC is fully complete. Upon logging in, you can see your Wallet on the right side of your client area.
You can also access your Wallet from the left sidebar menu. Inside, you can see all of your Wallet accounts and their current balances.
Deposit, Withdraw, and Transfer options are also available within the Wallet Dashboard.
Can I have more than one Wallet account?
Yes, you can have up to 4 different wallet accounts, one for each of our available depositing currencies:
USD
EUR
GBP
PLN
Can I use my Wallet account for trading?
No, you can only use the Wallet accounts for storing funds and making deposits, withdrawals, and internal transfers to and from your trading accounts.
Am I only allowed to deposit and withdraw funds from my Wallet account?
You may directly deposit into your trading account. However, when withdrawing funds, you can only withdraw from your Wallet account.
I deposited funds into my Wallet account, but my trading account is in a different currency. Will there be an issue in transferring funds into it?
You can still transfer funds from your Wallet account to your Trading Account, even if they are of different currencies. However, it is suggested that your Wallet Account is in the same currency as your Trading Account.
Alternatively, the funds deposited in your wallet account will be converted into your trading account currency, at the prevailing foreign exchange rate, before being added into your trading account.
Things to consider about the Wallet Account:
- If a wallet is funded but there are no submitted identification documents and/or the provided documents are invalid, we will not verify the application until all due diligence processes are completed.
- If a wallet account is funded and a withdrawal is requested without being verified, or without trading activity, or with minimal trading activity, the client will be subject to all Deposit/Withdrawal fees.
- Deposits can be added to your Wallet and/or Trading Account, but withdrawals can ONLY be requested via the Wallet account
- Funded Wallet accounts that remain unverified will be refunded back to the same source after fifteen (15) days from the date of deposit, after which point, we will proceed to terminate these accounts.