Frequently Asked Questions

• 01/ Verification process for Individuals
• 02/ Verification process for Legal Entities/Organizations
• 03/ How long does the verification process take?

01. Verification process for Individuals

Before accessing FOXCHANGE’s cryptocurrency exchange services, individuals must complete a mandatory verification and onboarding process, in accordance with Swiss AML regulations, international compliance standards, and our internal policies.

This process ensures that we meet all regulatory obligations while providing a secure and transparent environment for our users. Verification is required for all individuals intending to use crypto exchange services involving either fiat or digital assets.

To complete the onboarding process, each customer must:

1. Complete the online identity verification (eKYC) process
2. Fill out the onboarding questionnaire
3. Review and acknowledge Terms & Conditions all relevant policies published on FOXCHANGE webpage
4. Sign and submit the Service Application Form

Once your submission is received, our compliance team will review the documents. In most cases, verification is completed within one business day. We may request additional information or clarification if needed to complete the process.

Please note that access to services will only be granted after the full onboarding process has been successfully completed and approved.

02. Verification process for Legal Entities/Organizations

Before accessing FOXCHANGE’s cryptocurrency exchange services, legal entities must complete a mandatory verification and onboarding process in accordance with Swiss anti-money laundering (AML) regulations, international compliance standards, and our internal policies.

This process ensures that we meet all regulatory obligations while providing a secure and transparent environment for our users. Verification is required for all legal entities intending to use crypto exchange services involving either fiat or digital assets.

1. Complete the corporate identity verification (eKYC) process
2. Fill out the onboarding questionnaire
3. Review and acknowledge the Terms & Conditions and all relevant policies published on the FOXCHANGE website
4. Sign and submit the Service Application Form, signed by an authorized representative
5. Provide supporting documentation, including:
   
   1. Certificate of incorporation or company registry extract
   2. Articles of association or equivalent document
   3. Proof of registered office address
   4. Identification and proof of address for all beneficial owners (UBOs) and authorized signatories
   5. Organizational chart (if applicable)

Once your submission is received, our compliance team will review the documents. In most cases, verification is completed within a few business days. We may request additional information or clarification if needed to complete the process.

Please note that access to services will only be granted after the full onboarding process has been successfully completed and approved.

03. How long does the verification process take?

The initial eKYC process typically takes around 15 minutes. However, the full verification timeline may vary depending on several factors, such as the volume of new applications, the complexity of the ownership structure (especially for legal entities), or if the business operates in a higher-risk sector or geography.

In some cases, the FOXCHANGE compliance team may request additional information or documentation to complete the process in accordance with regulatory requirements.

We are committed to guiding you through each step and will keep you informed about your verification status. Once your onboarding is approved, your status will be updated and you will receive an official confirmation by email.

• 01/ How can I deposit Fiat?
• 02/ How can I deposit Crypto?
• 03/ How can I withdraw Fiat?
• 04/ How can I withdraw Crypto?

01. How can I deposit Fiat?

You can deposit fiat funds via bank transfers (wire transfers) in CHF or EUR. We will provide the necessary bank details for the transaction, and there are no deposit fees charged.

Typically, your funds will be available for crypto purchases within 24 hours. However, please note that we are required to complete necessary compliance checks, which could take slightly longer. We will do our best to avoid any delays in this process.

There is no minimum deposit amount, but please ensure that your deposit is reasonable relative to the fees associated with the transaction. For maximum deposits, the amount will be monitored and reviewed according to your customer profile. Significant or unusual deposits that do not align with your account activity or profile may be flagged for further review. If the deposit amount doesn't match your declared information or expected transaction pattern, it may halt the execution of the deposit transaction until verified.

The deposit must come from an account controlled by you. This account will need to be whitelisted based on the evidence you provide to confirm ownership. We do not accept third-party deposits (funds from an account not controlled by you).

02. How can I deposit Crypto?

We support a selection of top-tier cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Solana (SOL), and Ripple (XRP). If you would like to confirm whether we support the specific cryptocurrency you hold, please contact us at info@foxchange.ch for further assistance.

In compliance with the Travel Rule, we require that the wallet from which you send crypto is controlled by you and whitelisted before any deposits are accepted. To verify this, we will conduct a KYC verification to ensure the wallet belongs to you. As part of this process, we may also request proof of wallet ownership.

We will verify the deposit amount to ensure it aligns with your client profile and any declarations made. Any discrepancies may trigger additional due diligence, which could delay or even result in the rejection of the transaction. All crypto transactions will be monitored for suspicious activity in accordance with AML regulations. If we identify an increased risk associated with the receiving wallet, we may reject the deposit.

Before sending crypto, please double-check the deposit address. Crypto sent to an incorrect or invalid address may be permanently lost and cannot be recovered. Make sure you are sending the correct crypto type to the correct address to avoid any issues.

03. How can I withdraw Fiat?

To withdraw fiat funds, provide your withdrawal instructions and account details in your crypto exchange order. Ensure the account is controlled by you, as we do not accept third-party withdrawals.

We will process the withdrawal in the specified currency (CHF or EUR). Double-check your instructions to avoid errors.

Compliance checks may be required, potentially delaying the withdrawal. The withdrawal amount will be reviewed against your profile, and significant or unusual requests may be flagged for further verification.

04. How can I withdraw Crypto?

To withdraw crypto, you need to provide your withdrawal instructions in the exchange order, including the wallet address where you would like to receive your crypto assets. Please ensure that the wallet is controlled by you, as we do not accept withdrawals to third-party wallets. We are required to verify wallet ownership, and may request proof of control over the wallet.

Please note that additional compliance checks may be required before processing the withdrawal. These checks are in place to ensure compliance with AML/CTF regulations and wallet risk assessments, and they may take some time. If we identify an increased risk associated with the receiving wallet, we may reject the withdrawal and request updated instructions.

Double-check your withdrawal instructions to avoid errors, as transactions sent to incorrect or invalid addresses may be permanently lost.

• 01/ What operations can I perform on the platform?
• 02/ How do I submit an exchange order?
• 03/ What are the rates and fees for exchanges?
• 04/ How long does it take to complete an exchange?

01. What operations can I perform on the platform?

You can exchange cryptocurrency to fiat (e.g., crypto to EUR or CHF), fiat to cryptocurrency (e.g., EUR or CHF to BTC), and crypto to crypto (e.g., BTC to ETH). We support a selection of top-tier cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Solana (SOL), and Ripple (XRP). If you would like to confirm whether we support the specific cryptocurrency you hold or like to purchase, please contact us at info@foxchange.ch for further assistance.

02. How do I submit an exchange order?

To submit an exchange order, please complete the order form by following these steps:

1. Select the type of trade you want to perform (crypto to fiat, fiat to crypto, or crypto to crypto);
2. Enter the amount and name of the asset you wish to sell;
3. Specify the asset you wish to buy and receive;
4. Provide the relevant wallet or bank account details, including both:
   • The sending side (your wallet/account for delivering the sold asset), and
   • The receiving side (your wallet/account for receiving the converted asset).

Carefully review the order to ensure all details are accurate and submit the order.

Please note: We do not accept deposits from or withdrawals to third-party wallets or accounts. Transactions sent to incorrect or invalid addresses or accounts may result in permanent loss of funds.

03. What are the rates and fees for exchanges?

Exchange rates are based on current market prices at the moment your transaction is executed. Upon request, we can provide you with indicative rates and recent market trends; however, please note that we do not provide any financial advice or recommendations regarding exchange rate developments.
There are no hidden fees — only the fees agreed upon in your individual service agreement will apply. The exchange fee is usually included in the exchange rate.

Please be aware, that Cryptocurrency markets are highly volatile, and we cannot guarantee that the rate applied at execution will be the most favorable over time.
Details of the applied exchange rate will be included in the transaction confirmation, which we will provide within a reasonable time, but no later than the next business day after execution.

04. How long does it take to complete an exchange?

The time required to complete an exchange depends on several factors, including:

1. The type of transaction (crypto-to-crypto, fiat-to-crypto, or crypto-to-fiat);
2. Compliance checks related to wallets, accounts, and consistency with your profile;
3. Blockchain network congestion;
4. Liquidity
5. The number of orders submitted at that time.

We aim to process all exchanges as quickly as possible. While we cannot guarantee exact processing times, most orders are completed within the same business day.
If any delays occur, you will be informed individually and promptly.