As is the case with the futures instruments, you have 100x max leverage, and you can choose to margin your position either with coins or with Tether. Also, the settlement on the perpetual swap occurs every 24 hours. It is called a « Swap » because you are swapping the returns for one asset for another.
- 74% of retail investor accounts lose money when trading CFDs with this provider….
- The views and opinions expressed on this website are purely the author.
- Around 350 cryptocurrencies and stablecoins, from Bitcoin to Dogecoin, can be converted at any time for free on OKX.
- When in doubt, you should consult a qualified financial advisor before making any investment decisions.
- Perhaps the most user-friendly manner is to use the options Discovery tool.
- It’s got so much going on, you can even join a pool (group of people) to mine bitcoin, and build apps on a blockchain (a crypto network).
This is a high-risk investment, and you should not expect to be protected if something goes wrong. We’ll cover NFTs later, but there’s also an OKX wallet, so you can buy, sell and manage your NFTs all from one place (we know you’re looking to get into NFTs, all the cool kids are doing it!). OKX is perfect for beginners in fact – it’s super simple to create your account and get started.
Copy Trading
On this platform, there are over 140 digital tokens and more than 400 BTC and USDT pairs to trade on. This includes OKB, which is a utility token issued by OK Blockchain Foundation and can be used for an array of purposes on the OKEx trading platform. At the time, the exchange broke out of OKCoin, its sister company, to target advanced crypto traders. While OKCoin focuses on purely buying and selling digital assets and ICO tokens, OKEx provides a more sophisticated offering for advanced traders. OKEx is a digital currency trading platform specifically designed to empower cryptocurrency traders.
MetaX could be a serious game-changer in leading to crypto mass adoption. One of the most considerable barriers to crypto adoption and DeFi is the complexities and learning curve. So the fact that OKX has built a bridge connecting a user-friendly CeFi interface with the powerhouse of DeFi deserves a standing ovation.
Opening an OKX Account
OKEx is available in most regions of the world, with a few exceptions. The most notable one is the United States of America, which has limited the activity of foreign crypto exchange platforms, which are now subject to regulatory approval. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. It’s worth noting that both fee tables above are needlessly different for futures, perpetual swaps, and options transactions.
You can even swap one stablecoin to another stablecoin (they’re coins like USD on the blockchain, which you can use to trade other coins). A spread is the difference between the purchasing price and sale price of an asset and can be thought of as a markup. A spread fee is usually only apply to instant purchases and not the spot market. If a platform advertises zero fee trading https://www.tokenexus.com/ then beware that they may charge a spread instead. The option to demo trade makes OKX a great place for beginners to learn the craft of trading and the platform is highly functional and really easy to use. I also need to give the OKX team kudos as they have placed a strong emphasis on crypto education through their fantastic educational section- the OKX Academy.
OKX customer reviews
On top of that, OKEx offers a crypto mining pool, Crypto-to-Crypto loans, and staking. If you chose to go through the email path as we did, you will have to head down to your mail and click on the “verify” button for your account to be verified by OKEx. You might also need to provide other personal details like your name, address, driver’s license, official passport, and any other documentation they may ask of you. The minimum deposit amount on OKEx is 10 USDT (£7.25) or equivalent to other currencies. Once your account has been verified and you’ve deposited the funds, they will be automatically added to your account. The wallet allows you to control your assets by providing a seed phrase setup and proper backup procedures.
After uploading my ID for 3 times and for the fourth time uploaded my real ID my manually, the system was rejected!! Before going to the fourth time tell the live chat admin that i have this problem, for what my friends my the same type of ID’s accepted the KYC? They tell me that try again by manually, after going to manually, the system also is not working.Bad By Loop!!! This system be my sacrifice.Now, I’m gonna use Trust Wallet, KuCoin, CoinEx that work by my real IDs.Thanks for the verification system that take me to a better place.Have Fun.
Using its expertise in the spot market, OKX offers its users the opportunity to trade Futures, perpetual swaps and options markets. Each gives traders a unique way to trade, hedge, earn, and explore the crypto markets. The trading fees for market takers charged by OKEx are a maximum of 0.15% for spot trading, which is below the industry average of around 0.25%.
As mentioned, there are different types of trading options available including a spot, margin, futures, options, DEX, and perpetual swap. The trading fee structure at OKEx is based on whether an investor is a market maker or a market taker. But due to the size of securities needed okex review to facilitate the volume required to become a market maker, the majority of crypto investors are market takers. The available options are spot, funding, perpetual swaps, and options. You will need to make the payment on a wallet address that the OKEx platform generates.
Okex continues to impress with its…
When trading derivatives, you can also opt to go long or short on the trade. With OKEx, users can diversify their investment portfolio using advanced tools for cryptocurrency mining, holding, and wallet management. In our OKEx review, we cover everything you need to know to assess whether the platform is right for you. This includes metrics surrounding fees and commissions, tradable cryptocurrencies, features, safety, and more. The support centre includes FAQs to help traders with more standard enquiries. These cover themes like how to close or delete your account, how to use the platform, how to trade and how to deposit/withdraw.
- There is a separate tab named “Assets,” clicking which the pop-up menu will appear, and users can select the “deposit” option to make the deposits.
- We really liked OKX because they have a pretty strong community around it with numerous telegram & Facebook groups.
- Although OKX recently obtained a provisional license from the Virtual Assets Regulatory Authority (VARA) in Dubai, there is generally little regulatory oversight of this exchange.
- The exchange also maintains offices in Hong Kong, Malta, and Belize.
- Apart from facilitating instant trading between popular trading pairs, OKEx exchange also provides margin trading, futures trading, DEX trading, perpetuals trading, and options trading.
- They just blocked my profile with the funds, not realizing the gravity of the situation.