Frequently asked questions for Wire Transfer

Wire transfer is an efficient method to fund your VirgoCX account to buy cryptocurrency. To ensure fund safety your Bank may Ask the following questions.   

• What do you know about VirgoCX?

VirgoCX is a Canadian regulated cryptocurrency trading platform. It was established in 2018 and registered with FINTRAC (Registered MSB # M19955733) and a Restricted Dealer registered with Canadian Securities Administrators.

• How did you learn of this investment opportunity? Were you rushed into making a decision to invest?

VirgoCX is a self-directed trading platform and does not provide any investment advice, nor would we work with any third-party investment advisors or institutions directly. Therefore you are required to do your due diligence before buying any cryptocurrency.

• Do you have an account with the VirgoCX (the beneficiary of the transaction) and is able to log in and perform trades (buy/sell/trade)?

All VirgoCX customers, after going through a mandatory KYC and risk assessment process as per regulatory requirements, will then create and enjoy direct access to a personal account that requires individual log-in credentials with multi factor authentication (MFA) along with KYC information and ID document.

• Are you aware that once the wire is sent, you will be liable even if it is later confirmed to be fraudulent?

Once a wire transfer is initiated, it's generally final and cannot be reversed. This is because the funds are considered the property of the recipient. VirgoCX informs clients to conduct due diligence before proceeding with any transactions.

• Are you sending this wire for investment or was told by someone to send this wire for a different purpose (internal investigation, extortion, etc.)?

VirgoCX clients typically use our platform for personal investment purposes. We encourage clients to perform their due diligence and to only conduct transactions they personally authorize.

• Is client conducting his/her own investment via this beneficiary or is he/she sending funds for a third party (investment firm, advisor, etc.) to invest for him/her?

VirgoCX is intended for clients to manage their own investments directly. Transactions are initiated and authorized solely by the client, without involvement from third parties. Third party transactions are not allowed and will be rejected/returned to the sender.