Onboarding

How do I Register on MidChains as an individual or entity?

1. Visit http://www.midchains.com to start your registration.

2. Click on Sign Up to proceed with registration.

3. Fill out the pre-registration form either as an individual or an entity. Ensure to acknowledge that you have read the Privacy Statement & Data Protection information in order to proceed with registration.

4. After filling out the pre-registration form, you must provide accurate details of your name, email address and your chosen password.

5. Ensure to verify your registration by clicking on the email confirmation link that is sent to your registered email address.

6. Fill out all personal or entity information accurately and ensure to fill out all mandatory fields before clicking the submit button to proceed to the next Registration form.

7. Ensure to submit Proof of Address (utility bill, tenancy agreement, tax residence certificate, bank or credit card statement not older than 3 months) in PDF or JPEG format.

8. Ensure to capture or upload your required personal identification documents. Your identification documents must be captured with all corners of the documents fully visible in the capture area provided. Captured documents must be visible enough.

9. Ensure to take and upload the requested selfie of yourself with optimum lighting for clear photo output.

10. If you are registering on behalf of an entity, ensure to attach a duly signed and or stamped Board Resolution or Power of Attorney or any other relevant document proving your appointment as an authorised representative of your entity.

11. Ensure to endorse the electronic signature field before clicking the Submit button.

How do I complete ID Verification?

1. To complete your ID verification during onboarding, you will need to be logged into your account at http://onboarding.midchains.com/confirm.

2. After completing the Residence, Personal Information, and Contact Information forms, you will then be asked to submit a mandatory picture of your passport and a selfie. You will be required to submit a second form of government-issued identification such as an Identity Card, Drivers License, or Residence Permit.

3. Once submitted, these IDs will be reviewed and verified accordingly with the information you provided in the Personal Information section.

How do I submit the required documents for identity verification?

Submitting your required documents on the MidChains platform requires that you upload photos or your documents in the right fields for identity verification during the onboarding process. Please note that uploading your passport is mandatory on the MTF. Please follow these tips on how to Upload your Identification documents.

What additional forms of Proof of Address is accepted?

1. Utility bill [water, electricity, landline bill or statement, e.g. for UAE residents ADDC/DEWA/DU/Etisalat (landline only) bill]; OR

2. Tenancy agreement (e.g. for UAE residents Tawtheeq/Ejari); OR

3. Tax residence certificate; OR

4. Bank or credit card statement

What is the source of funds proof?

Source of Funds or Source of Income proof is one or several documents that will provide information on the origin of funds that will be used in trading such as the fiat currency being deposited in your account.

What are the requirements to get my account verified?

You must comply with the following requirements to verify your account:

1. Create your account.

2. Confirm your email and fully complete the Onboarding forms.

3. Upload the required documents.

4. Ensure to endorse an electronic signature.

In certain instances, MidChains may request additional documents from you or ask you additional questions if necessary to verify the information you have provided.

What should I do if my verification was declined? 

If this happens, you may submit another account verification request on the platform with the correct and valid documents. MidChains will also send you a notification email with the reason why we are unable to proceed with your verification. 
 
To avoid delays in your account verification, please make sure that the documents that are submitted are valid and are acceptable to MidChains. You should also make sure that all of the details in your documents are legible. 

How do I change my email ID on MidChains?

If you are having difficulty accessing your registered email, you will not be able to change these details on the MidChains platform. Please ensure to follow the password reset guide provided by your email provider.

How do I update my Personal Information?

Once you have submitted your personal information for verification, you will not be able to manually change these details. You can, however, raise a support ticket by clicking Registration under the Support tab of the MidChains website to request a change if you require any of the submitted information to be updated or amended. We may require you to provide supporting documents as evidence for any of your requested change. 

What do I do if I am having issues with my account registration?

If you are experiencing issues with the account registration process, please send your queries to our Support team by raising a Registration support ticket in the Support tab of the MidChains website http://www.midchains.com or send an email to support@midchains.com to have your queries addressed. 

How do I Reset My Password?

Make sure that you are entering the correct password. To reset your password:

1. Click Reset Password.

2. Enter your registered email address and submit.

3. Check your email for the verification code and password reset link.

4. Enter the verification code into the recovery form or click the password reset link to receive a newly generated Password in your registered email.

5. Enter the password sent to your registered email in the Password field of the login page.

Please Note: The password reset link expires 10 minutes after it is sent and can only be used once.

If you do not receive the Password Reset email, ensure that you have provided the correct registered email address, otherwise, check your spam/junk folder. If either of the suggested options does not apply to you kindly click the Resend Link to receive a new Password Reset link. 

How do I Change My Password?

To change your current password to a new password, follow the steps below.

1. Log in to your registered account.

2. Navigate to Profile on the left-hand side of the trading platform under Tools.

3. Select Reset Password to change your password.

4. Enter your Current Password, New Password and Confirm your new password in their respective fields and submit.

5. Alternatively, you may click on the Generate Password for a system-generated password displayed in a pop-up message above the Current Password field.  

How do I Install Google Authenticator for my Two-Factor Authentication (2FA)? 

1. Install Google Authenticator app. The Google Authenticator app is available in the App Store or Google Play (compatible with iOS and Android).  

2. Set up the Google Authenticator app. Follow instructions on how to set up your Google Authentication app here.

3. Navigate to MidChains Login Page and scan the QR code or enter the secret key displayed on the Authentication Page and Click Next to complete the process.  

How do I Troubleshoot my 2FA

If the device that your authenticator app is installed goes missing or is stolen, your account is at risk of being compromised, especially if your email account can be accessed from that device. In this situation, you should immediately sign in to your account to make the necessary changes to your account settings. If you are unable to sign in, contact the Support team via support@midchains.com to have your account temporarily disabled. 

 Out-of-sync Time  - If you have access to your 2FA codes but you are receiving an 'Invalid login' message, please update the time settings on your phone from Manual to Automatic and ensure the correct code is being used. 

How do I re-enable Google Authenticator if I no longer have access to my previously installed Google Authenticator app？

If you have stored the 16-digit code which was generated when you enabled the Google Authenticator for the first time, you can re-enable your Google Authenticator by adding the key to the App manually.  If you haven't stored the backup key, you may reach out to us via support@midchains.com.

Why is the Authentication page showing a “2FA code error”?  

1. Make sure you are entering correctly the One Time Passcode (OTP) generated from your Google Authenticator. 

2. Otherwise, synchronize the time on your mobile phone (to synchronize your Google Authenticator app) and your computer (from which you attempt to log in).  

3. Browse the Login page using incognito mode on the Google Chrome web browser. 

4. Clear your browser cache and cookies. 

5. Attempt to log in. 

If none of the suggested steps above solves your problem, then we suggest you initiate the resetting process of your Google Authenticator.

Trading

What Virtual Assets or Stablecoin can I trade?

MidChains currently permits for the following virtual assets or stablecoin to be traded on its trading platform.

What pairs are available for trading?

The trading pairs available on MidChains are a match of the Accepted Virtual Assets or Stablecoin listed on the trading platform and the United States Dollar (USD).

What are the order types for trading?

 MidChains’ trading platform is configured to support Market Orders, Limit Orders, Stop Limit Orders, and  Post Only Limit Orders. These order types are functional for both the Buy or Sell side of a trade.

1. Market Order- is an order to buy or sell an Accepted Virtual Asset at the market’s current best available price immediately. This order type ensures that your trade executes, but it does not guarantee an execution at a specified price. The market order type is appropriate when you want your order executed immediately. The market order is automatically linked to the Immediate or Cancel (IOC) Time in Force (TIF) on MidChains.

2. Limit Order – is an order to buy or sell an Accepted Virtual Asset at a specific price that is restricted to a maximum price to be paid or the minimum price to be received depending on which side of the trade you wish to execute. This type of order will only be filled at your specified limit price or better, (i.e. In the case of a buy limit order execution will occur at the specified limit price or lower, and a sell limit order will execute at the specified limit price or higher). Limit orders placed during the Trading Session will execute either fully or partially, determined by market conditions. If the execution of a Limit Order is not immediately possible and the Time In Force (TIF) is Good till Cancel (GTC) or Good till Time (GTT), the order remains in the Order Book at the specified price in descending buy-price order or ascending sell-price order. 

3. Stop Limit Order – is an order to buy or sell an Accepted Virtual Asset by setting a price known as the Stop Price that will be triggered once the market price of the asset reaches the specified price (stop price) at which the order should become a Limit Order. When the stop price is reached through its last traded price after the Stop Price is triggered, a Stop Limit Order becomes a Limit Order.

4. Post Only Order - is an order that ensures that the limit order would receive a maker rebate when this limit order is filled. This  order will only be placed if it will enter the Order Book rather than be executed immediately.

What is a Time in Force (TIF)?

Time In Force typically are indicators of how long you want your orders to remain active in the Order Book before they are executed or expire. Time in Force has been configured to suit specific order types.

1. Good till Cancelled (GTC)- This is an order to buy or sell an Accepted Virtual Asset or Stablecoin that remains in the Order Book until the order is executed or cancelled.

2. Immediate or Cancel (IOC)- This is an order to buy or sell an Accepted Virtual Asset or Stablecoin that attempts to immediately execute fully, or partially, otherwise cancels when the order or portions of the order could not be filled. 

3. Good till Time (GTT)- This is an order to buy or sell an Accepted Virtual Asset or Stablecoin and setting an expiration date until which the order will remain in force, or cancel unexecuted Orders at the specified expiration date.

4. Fill or Kill (FOK)- This is an Order that is directed to be executed immediately and for the full quantity at the market or a specified price or cancelled if not filled completely.

What Order Types and Time in Force (TIF) Can I Use to Place Orders?

MidChains permits for Accepted Virtual Assets or Stablecoin to be traded using a combination of Order Types and Time In Force. Order Types are by default configured with its applicable Time in Force (TIF) on MidChains’ trading platform. To place a buy or sell order, a client has the following options to trade:

1. Market Order – Immediate or Cancel

2. Limit Order – Good till Cancelled (GTC), Immediate or Cancel (IOC), Good till Time (GTT) and Fill or Kill (FOK)

Limit Orders will include Stop Limit Order and Post Only Limit Orders.

How do I Buy or Sell Accepted Virtual Assets on MidChains?

 i. To place Buy and Sell Orders, use the ORDER TICKET panel. 

1. First, select either a LIMIT or MARKET (MKT) order from the Order Ticket panel.

2. Ensure to select the preferred BUY or SELL order option before proceeding with the next step.

3. Select your preferred trading pair (e.g. BTCUSD) from the drop-down menu on the right-hand side of the dashboard, just above the Order Book/Trade History panel.

4. The selected pair automatically displays the Accepted Virtual Asset or Stablecoin with your corresponding Available Balance and Withheld Balance below the ORDER TICKET on the left-hand side of the dashboard.

MidChains offers both the Limit and Market Orders to trading;

ii. To place a new LIMIT order, please follow the steps below:   

A Limit Order could be placed as a Limit Buy or Limit Sell Order. The Limit Buy should be the limit price or maximum price you are willing to pay for one unit of the Virtual Asset or Stablecoin. Limit Sell Order should be the minimum price you are willing to accept for one unit of the Virtual Asset for a Limit Sell.

1. Select LIMIT from the Order Ticket panel.

2. Select the preferred BUY or SELL order option.

3. Type in the units of your chosen Virtual Asset or Stablecoin you wish to Buy or Sell in the Amount field.

4. Type in the price at which you wish to Buy or Sell the selected Virtual Asset or Stablecoin in the Price field. The indicated price in USD will be the LIMIT price at which you wish to either Buy or Sell the Virtual Asset or Stablecoin.

5. Select your preferred Limit Order type from the drop-down menu next to Type.  

6. Select your preferred TIF (Time In Force) option for your order.

7. The total notional amount of your Limit Order will be displayed in USD below before submitting.

8. Select the SUBMIT button to place the order upon confirmation that all the details entered are correct. 

9. Your order will execute immediately against a matching order in the Order Book. All matched Orders will be displayed in the Fills blotter below the Order Ticket panel and the Chart box with further details of the executed trade displayed in the RefNo.

10. If your order is not immediately executed against any order in the order book, your order will be recorded in either the Bid side or the Ask side of the Order Book, arranged according to the best indicative Bid or Ask price. The best Bid (indicated in green) and best Ask (indicated in pink) are displayed at the mid-point of the Order Book separated by the Spread.

11. Your Available Balance will reflect your trades less fees charged.

iii. To place a new “MARKET (MKT)” order please follow the steps below: 

This type of order guarantees that an order will be executed if there is liquidity but does not guarantee the execution price. A Market order can be placed either by entering the notional Amount you wish to spend on purchasing your preferred Virtual Asset or Stablecoin (Buy) or by entering the preferred number of units of the Virtual Asset or Stablecoin you wish to Sell.

1. Select MKT (Market) order option for your selected trading pair from the Order Ticket panel. 

2. Choose the preferred BUY or SELL. 

3. Type in your preferred USD value of the Virtual Asset or Stablecoin for a BUY option or the unit of Virtual Asset or Stablecoin for a SELL option in the Amount field. 

4. The only TIF (TIME IN FORCE) option available for Market Orders is IOC (IMMEDIATE OR CANCEL) as a market order would execute immediately against existing Limit Orders in the Order Book or cancel immediately by default if there are no matching orders.

5. The total notional amount of your order will be displayed in USD before submitting your order.

6. Select the SUBMIT button to place the order once you have confirmed all the details entered are correct. 

7. Your order will execute immediately against a matching order in the Order Book. All matched Orders will be displayed in the Fills blotter below the Order Ticket panel and the Chart box with further details of the executed trade displayed in the RefNo.

8. If your Order does not execute immediately against a matching order in the Order Book, the order will be cancelled immediately.

9. Your Available Balance will reflect your trades less fees charged.

How do I Monitor Real-Time Market Activities from my Dashboard? 

There are three options available to monitor real-time market activities from your dashboard. Based on your preference, you may decide on the best option(s) that suits your trading needs.

1. CHART 

• You may use the CHART to monitor real-time market activities such as prices, volumes, highs and lows for any of the listed trading pairs. 

• To customize the CHART to suit your preference for monitoring price movements, please click the Candles icon and choose your preferred Chart type from the drop-down menu.

2. ORDER BOOK 

You may also use the ORDER BOOK to view a list of real-time Buy/Sell Orders and their respective prices for your selected trading pair. The ORDER BOOK shows the Market depth, as well as the best bid, best offer and the spread. 

3. MARKET STATISTICS 

Click on Show Market Statistics to display all the market data currently in the market, detailing Open and Close Price, Percentage Change in Price, Best Bid and Best Ask and the volume traded per session. 

How do I Check Orders I have Placed?

1. Click on the ORDERS blotter to display all your live Orders placed for each trading pair.

2. To get detailed information about a particular Limit Order, please click on the RefNo of the respective order.

3. Once you click on the RefNo, the details of the order will be displayed in a pop-up window.

How do I Check Orders that have Executed?

To view all your executed orders, please select the Fills blotter. The Fills blotter shows all executed orders  of the trading pair that you have traded. For more information about a particular order and the Contract Note, please click on the corresponding RefNo to display the executed order’s information.  

How do I Check My Positions?

To view your current positions, please select the POSITIONS blotter. This will display all the Accepted Virtual Assets and or Stablecoin that you currently hold a position in. The POSITIONS blotter displays the number of units you hold for a particular Virtual Asset or Stablecoin, the average price at which you purchased the Virtual Assets or Stablecoin and the USD value of the respective Virtual Assets or Stablecoin you hold (the USD value is arrived at by multiplying the Last Traded Price by the Asset’s Position held).

How do I View All Trades that are taking place on the Trading Platform?

To view all your executed transactions, please select the TRADE HISTORY panel.  This panel displays all records of executed Orders by the amount of Virtual Asset executed at its respective execution price and the time of execution as of the Opening of the MidChains trading platform.

Where can I see my Available Balance?

Your Available Balance for trading will be displayed in the trading view in the Order Ticket panel. MidChains’ trading platform provides both Available Balances and the Withheld Balances of the listed pair in Virtual Asset or Stablecoin and USD. 

What Fees are Charged for Trading?

MidChains adopts a maker-taker fees approach in determining its trading fees. Fees apply differently depending on whether the order is providing liquidity (Maker) or taking liquidity (Taker) off the market.

MidChains does not charge a Maker Fee for trades that provide liquidity to the Order Book. However, a Taker Fee will apply to trades that take liquidity off the Order Book.

Portfolio Management

How do I add Bank Account?

1. Navigate to the MidChains trading portal and select Portfolio on the left-hand side of the dashboard.

2. Click the Funds tab and proceed to click the Banking tab.

3. Click the Add Bank Account tab displayed below your chosen currency.

4. Accurately fill out Bank Account details in the form provided and click Confirm your bank account before submitting.

5. Your added bank account will be listed in the Bank Accounts list with an updated status once approved by MidChains.

MidChains permits for bank accounts to be added for the following currencies; Euro (EUR), Swiss franc (CHF), United States Dollars (USD), Pounds Sterling (GBP), Emirati Dirham (AED), Singapore Dollar (SGD), Hong Kong (HKD) and Japanese (JPY).

Please note that submitted bank accounts must match your country of nationality, residence and origin of funds. Attempting to use bank accounts from unsupported countries will not be permitted. Bank accounts will only be approved subject to review.

How Do I Deposit?

MidChains offers two options to deposit unto its trading platform, allowing clients to deposit both Virtual Assets and Fiat.

Virtual Asset or Stablecoin Deposit

To send Virtual Assets or Stablecoin to your MidChains wallet. You must have the Virtual Asset or Stablecoin that you wish to deposit from into MidChains. E.g. Depositing ETH can only be done from an Ethereum external wallet.

1. Navigate to the MidChains trading portal and select Portfolio on the left-hand side of the dashboard.

2. Select Deposit for the Virtual Asset or Stablecoin you would like to initiate a deposit into under the WALLETS tab and copy the Virtual Asset or Stablecoin’s wallet address by clicking the Copy icon.

3. Paste the copied Virtual Asset or Stablecoin wallet address into your external wallet of the same protocol to initiate a deposit.

4. Enter the units of Virtual Asset or Stablecoin you would like to deposit into your MidChains wallet for selected network protocol that is also supported by MidChains and send.

5. Each Virtual Asset or Stablecoin deposit may take a couple of minutes to be fully completed depending on the protocol as they require minimum network confirmations.

6. Once the transaction is confirmed in the blockchain, return to the Portfolio portal on the MidChains platform and check the History tab for your deposit.

7. Alternatively, check the Available Balance displayed for each Virtual Asset or Stablecoin as this will reflect the total amount in each Virtual Asset wallet.

8. Each deposit will have a Transaction Hash (TxHash) to display details of the deposited Virtual Asset into your Virtual Asset wallet with MidChains.

Note: Only deposits of listed Virtual Assets and Stablecoin in the corresponding protocols from your external wallet address will be accepted on the MidChains platform (e.g. you can only deposit Ethereum from your external wallet address into your MidChains Ethereum wallet address).

Network Fees are applicable to all Virtual Asset or Stablecoin deposits. Deposits from your external wallets will incur Network fees at each transfer point on the blockchain before arriving in your wallet with MidChains. MidChains does not charge fees for depositing Virtual Assets or Stablecoin into your wallet.

Fiat Deposit

Fiat deposits are initiated in the form of a transfer from your local/international fiat account into your MidChains Funds. Please follow the steps below for Fiat depositing;

1. Navigate to the MidChains trading portal and select Portfolio on the left-hand side of the dashboard.

2. Click the Funds tab and click Deposit on your preferred currency to display Deposit details.

3. Initiate a wire transfer from your local or international bank with the details of MidChains' USD Client Account or MidChains' AED Client Account displayed on your screen.

4. Ensure to include the details displayed in the Reason of Payment. For example, for USD deposits - “/BNF/151.348.1175 MidChains Limited ” should be indicated in the Reason of Payment together with your unique Reference Number (e.g. MIDC-XXXX-XXXX), or for AED deposits - “/BENEFRES/AE//FIS/ ” should be indicated in the Reason of Payment with your unique Reference Number (e.g. MIDC-XXXX-XXXX) displayed at the bottom of Deposit Details for easy referencing.

5. You may transfer AED if your bank allows it. Otherwise, send CHF to the same MidChains' AED Client Account and this will be converted upon receipt. The minimum AED deposit is 500 AED.

6. MidChains will credit funds received to your MidChains Bank Account which will reflect in your Fiat balance in USD.

7. Ensure that all transfers are made from an account registered in the same name as your MidChains account, using English characters only.

8. You are responsible for conversion fees applied by the bank if payments are not made in USD/AED

9. You can monitor the status of your deposits by navigating to the History tab. The History tab displays details of all transactions (Deposits and Withdrawals).

All Fiat deposits initiated from your external bank must have your unique Reference Number for further crediting into your MidChains’ Bank Account.  

Note: that non USD deposits will be converted to USD at our Bank’s prevailing exchange rate.

Why has my Virtual Asset or Stablecoin deposit not been credited yet? 

Virtual asset or Stablecoin deposits could possibly delay due to the minimum required confirmations needed to complete deposits and the source of Virtual Asset or Stablecoin. MidChains reserves the right to withhold all deposits that are considered potentially high risk until cleared.

Why has my Fiat deposit not been credited yet? 

Fiat deposits from an external bank both local and international take a couple of hours to a couple of days depending on the jurisdiction of the bank and processing time.

Can I deposit Fiat into my MidChains bank account with a credit card?

No, MidChains only supports bank transfers for fiat deposit at this time. All other Third-Party payment systems are also not supported on the MidChains.

How do I Withdraw?

Virtual Assets or Stablecoin Withdrawal 

1. Navigate to the MidChains trading portal and select Portfolio on the left-hand side of the dashboard.

2. Click the Withdraw tab for the Virtual Asset or Stablecoin you wish to initiate a withdrawal from, under the WALLETS tab.

3. Enter the units of the Virtual Asset or Stablecoin you wish to withdraw from in the amount field.

4. Click on the Destination Wallet Address field beneath the amount field to select the preferred wallet you wish to withdraw into.

5. Select your preferred external wallet address from the drop-down list in the Destination Wallet Address field and click Submit. The external wallet address will only display wallets that you have added. Please ensure to add your external wallets before initiating the withdrawal process.

6. Ensure to click the Confirmation check box in the pop-up screen to confirm your withdrawal.

7. A Withdrawal Confirmation email will be sent to your registered email address with a withdrawal code to be submitted before the withdrawal.

8. Enter the code into the Withdrawal Code field beneath the Destination Wallet Address field and submit. In case you did not receive the code, click the Resend Code button to resend the Withdrawal Confirmation email.

9. Again, click the Confirmation check box in the pop-up screen to confirm your withdrawal and submit.

10. The amount you wish to withdraw will be deducted from your Available Balance and will reflect in the Withheld Balance until the transaction is completed after all confirmations have been successfully received.

11. Once confirmation is received, your Balance for that Virtual Asset or Stablecoin will reduce by the amount withdrawn.

12. Select the History tab to displays further details of all transactions that have occurred for the selected Virtual Asset or Stablecoin.

Please Note: MidChains does not support the withdrawal of Virtual Assets or Stablecoin into a Destination Wallet Address of a different network protocol.

Network Fees are applicable to all Virtual Asset or Stablecoin withdrawals. Withdrawals into your external wallets will incur Network Fees before arriving in your external wallet. MidChains does not charge fees for withdrawing Virtual Assets or Stablecoin from your MidChains wallet.

Virtual Asset deposit and withdrawal minimums and fees

The minimum deposit and withdrawal amount for each virtual asset or stablecoin are stated below. Deposits and withdrawals below the required minimum will not be credited or debited to your account.

MidChains doesn’t charge any deposit and withdrawal fees, but you will be required to pay a network fee. A network fee covers the fee paid to miners for validating your transaction on the blockchain. Network Fees are applicable to all Virtual Asset or Stablecoin deposits and withdrawals on MidChains' platform. Deposits from your external wallets will incur Network Fees at each transfer point on the blockchain before arriving in your wallet with MidChains. Likewise, Withdrawals into your external wallets will incur Network Fees before arriving in your external wallet.

What do I do If I withdrew my Virtual Assets to the wrong address?

It is advisable to always double-check the Destination Wallet Address you wish to send your Virtual Assets or Stablecoin to. MidChains permits you to add your preferred Destination Wallet Addresses with a chosen name to avoid withdrawing your Virtual Assets or Stablecoin into the wrong Destination Wallet Address. MidChains will not be able to stop or reverse any transaction posted to the blockchain.

Fiat Withdrawal

Before a US Dollar withdrawal can be made on the MidChains platform, your corresponding external bank account must have been added. MidChains only permits you to withdraw US Dollars if your MidChains account is well funded to facilitate the intended withdrawal. Withdrawals can only be initiated into your corresponding external bank account.

• Navigate to the trading portal and select Portfolio on the left-hand side of the dashboard.

• Click on Funds and proceed to click the Withdraw tab displayed for the US Dollar currency to initiate a withdrawal.

• Enter the amount you wish to withdraw in USD.

• Click on the Select Destination Account field to select your added bank account from the drop drown list and submit.

• A Withdrawal code will be sent to your registered email.

• Enter the code received in the Withdrawal Code field and submit. In case you did not receive a withdrawal code in your registered email or the received code is expired, click on the Resend Code for a new code to be sent to you.

• Your withdrawal will be displayed as an entry in the Withdrawal Requests with a Pending Status.

• Once MidChains approves your withdrawal request, the requested amount will be transferred from MidChains Client Money Account to your selected external Bank Account.

• All fiat transactions (Withdrawals and Deposits) can be viewed in the History tab with your unique Reference Number.

Note: Withdrawals from MidChains’ third-party Banking Partner(s) take between 3-5 business days. All withdrawal transactions initiated by you from your MidChains account into your destination account in any currency other than USD shall be converted to the requested currency at a prevailing spot rate provided by our Bank, subject to additional banking remittance fees of the originating and intermediary banks.  

How do I cancel a fiat withdrawal request?

MidChains permits you to cancel a withdrawal request before it is approved. However, in instances where you wish to cancel an already approved withdrawal, send a request to support@midchains.com with details of the withdrawal request. MidChains however, may not be able to reverse an already initiated withdrawal.

How do I check all Deposits and Withdrawals?

All successful Deposits and Withdrawals made on the trading platform will be displayed in the History panel under Wallets of the selected Virtual Asset.

1. Navigate to the trading portal and select Portfolio on the left-hand side of the dashboard.

2. Select the History tab of your preferred Virtual Asset to display all transactions (Deposits and Withdrawals) for the selected Virtual Asset.

3. You may adjust the search criteria to suit your preference to display details of all Deposits and Withdrawals made for the selected Virtual asset.

What does this Error message mean?

“You are not eligible to register”

MidChains does not permit for clients below the age of 18years, clients with unresolved bankruptcy, clients that are subjects of adverse findings in a civil proceeding by any court of competent jurisdiction for fraud, misfeasance or other misconducts, and clients who fail to acknowledge or disagree with MidChains’ Privacy Statement and Data Protection Policy to trade on its trading platform.

“Email already taken”

MidChains does not permit clients to register twice on its platform. You may receive this error message once you attempt to register twice with the same email address.

"Please Check Form Fields"

This error appears when adding bank accounts with missing fields. All fields available in the bank details registration form are mandatory and must represent true information of your bank details. Bank statements are not mandatory.

"Your session has expired and you have been logged out"

For security reasons, MidChains will log users out of a session during an onboarding registration if the page is left idle for a long while. This error message pops up when you attempt to continue filling out registration requirements after the page has been left idle for a long time.

"No open limit order on other side"

This error message implies that there was no limit order listed on the order book to match your market order at the time you placed the order.

"Not enough currency to buy"

You will be prompted by this error message when you attempt to place an order that is equal to or above your available Virtual Assets (BTC, LTC, ETH, BCH, DOGE, LINK, MATIC and USDC and or Fiat (USD) balances.

"Stop Price should be greater than the last traded price"

When placing stop orders for either BUY Limit or Market orders, you may receive this error message when you attempt to set the stop amount below the Last Traded Price. Stop amounts must be set greater than or equal to the Last Traded Price.

“Symbol Halted”

This error message indicates that the trading session has been halted for the trading pair hence orders placed for that trading pair will not be permitted at the time of the halt. Orders may be placed once the trading session for the trading pair is Open for trading.

“Minimum Fee Amount must be greater than 0.01 USD”

MidChains does not permit trades that result in a minimum fee of USD 0.01 or below. This error message indicates that the amount of Virtual Asset you wish to buy will result in a fee charge of USD 0.01 or less.

“Wash sale prohibited”

MidChains has put in place controls to avoid self-trades. This error indicates that you are attempting to execute self-trades (matching your Buy and Sell orders).

“Exceeded order/sec”

MidChains will prevent orders that are placed beyond the maximum order quantity per second. This error indicates that you are attempting to place more than 4 orders per second.

“Account not active. Please contact administrator”

MidChains prohibits unverified accounts from logging into the trading platform. This error message indicates that you are attempting to login to the trading platform with either an incomplete registration application or approval to access the platform is not yet granted.