The Ultimate Guide To Okex

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. In order to start trading with OKEX, you have to deposit at least 0 USD . Before you do sign up you’ll be presented with a popup telling you which countries aren’t supported. If you’re in one of those countries don’t bother signing up as there will be no way for you to use the account anyway. Outside the U.S. and Hong Kong, OKEx accepts traders from around the globe, with the exception of those on global watch lists or under international sanctions. You will be asked to login to your nominated email address and enter in the verification code.

okex review

For our live charts & news, we’re using the awesome APIs from CryptoComapreandCryptopanic. With a large number of coins offered, a new English language website, and the addition of KYC and AML support, there’s a good chance that OKEx might even give Bianance a run for the #1 spot later in 2018. Any time an address is used for a transfer out of the exchange that address is considered invalid for incoming deposits.

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In comparison to Binance and KuCoin which charge a flat 0.1%, OKEx fees are reasonable. High net worth individuals with a large trading volume during a 30 day period can unlock further trading fee discounts and rebates.

  • Traders in Russia welcome OKEx Facts & Figures OKEx is a digital exchange offering trading on hundreds of cryptos across desktop and mobile applications with low fees.
  • For traders interested in these alternative products, the exchange collates useful data in an easy-to-digest format, with the latest prices, recent volumes, plus open interest information.
  • You should also setup and activate 2FA and SMS authentication for extra security.
  • The operator of this website does not verify this information and is not responsible for its accuracy, completeness, timeliness, truthfulness or the compliance of a broker with legal regulations.

The operator of this website does not verify this information and is not responsible for its accuracy, completeness, timeliness, truthfulness or the compliance of a broker with legal regulations. Please verify whether the broker is authorized to provide its services in your country of residence in accordance with the legal regulations that apply to its business. As with all other cryptocurrency exchanges, OKEx suffers from accusations of slow customer service. In addition to that, if you don’t speak Chinese you’re likely to face some language barriers, but the team says they’re working on resolving this. All I can say is just be patient if you can’t get your question answered in the platform FAQ and you have to actually contact customer support.

The decision for developers to exclude US citizens from initial coin offerings is dictated by fears that their token might later be deemed a security. Exchanges that offer multiple coins are thus in danger of running afoul of the US Securities and Exchange Commission if they don’t take steps to prevent US citizens from operating on their exchanges. “Binance reserves the right to update the price index references from time to time,” the exchange’s website adds. The weights of each of the five exchange’s price contribution to the index are not disclosed. Binance also says it weights each exchange price feed “by their relative volume”, but without providing further details. Chung pointed out that these exclusions were allowed under the index rules, which provide for price feeds to be removed from the index calculation if an individual exchange’s order book data are delayed by more than 30 seconds.

OKEx’s native token works to incentivize trading on the OKB platform while the corporation develops its blockchain. The token carries a total supply of 1 billion (70% of which is locked up), and the company distributes 50 % of its service fees collected during the week each Friday to OKB holders. The actual amount distributed is weighted by the volume of OKB a user holds. Founded in 2014 by Star XU , OKEx is a cryptocurrency and digital assets exchange whose operations are based out of Hong Kong. Futures Trading To enable OKEx futures trading, users must fully read, understand to and agree to the “OKEx Futures Trading User Agreement”. Users must agree to and comply with the agreement before using OKEx futures trading and the related services.

“I got liquidated today on coin-margined futures at $29,408 even though Binance [bitcoin/dollar spot price] low was $30,000 and the USD margin mark price was $29,563,” a Twitter user wrote to Changpeng Zhao, Binance’s CEO. First created by BitMEX, a perpetual swap allows traders to gamble on the upwards or downwards movement of cryptocurrency prices without ever paying for the underlying exposure in full. However, the broker is regulated by the GDPR and EEA which does not provide as strong protection to traders as 1st tier regulatory bodies .

By logging into, viewing, or releasing information about futures trading, the user agrees to abide by the terms of the agreement. Currently, eight tokens are supported – BTC, LTC, ETH, ETC, BCH, XRP, EOS, BTG.

OKEx is a cryptocurrency trading platform and asset exchange that also offers a multi-currency wallet. The online wallet can be accessed from computers and mobile devices and allows for the straightforward storage and transfer of crypto assets like Bitcoin. In fact, the exchange offers some of the most competitive pricing that we’ve seen. For active traders, this can fall to a 0.02% maker fee and a 0.05% taker fee. With a clean interface and intuitive dashboards, clients can view crypto prices in real-time, buy and sell Bitcoin and other digital assets in a few clicks, plus set up live price-change alerts on the coins they follow.

CF Benchmarks also removed two exchanges from the calculation of its ethereum real-time index for a total of 155 seconds, Chung added. “For 68 seconds our bitcoin real-time index was calculated with three exchanges,” Chung told New Money Review. It wasn’t just clients of Binance who might have been confused about the prices at which their trades were closed on Wednesday. On its website, Binance says that when a user’s position is liquidated, ‘a certain percentage’ of the ‘insurance clear fee’ will be collected and contributed to its insurance fund reserves. For coin-margined futures, Binance says its insurance clearance fee is 0.60 percent. The difference between the mark price and the actual liquidation price appears to reflect a mandatory payment to Binance’s insurance fund.

This methodology, says Binance, reduces the possibility of unfair and unnecessary liquidations when the market is highly volatile, since it “helps to smooth out the price data over a specified period of time”. 19 May 2021 marked not only one of the biggest one-day price declines in cryptocurrency, but also one of the largest-ever liquidations of traders’ positions.

For all traders alike, the charting interface is one of the most important considerations when selecting a crypto exchange. Especially for traders that rely on technical analysis to find an edge in the market. When selecting a cryptocurrency trading exchange, it is essential to be comfortable with the trading interface, order types and charting tools. New clients can pick up $10 in BTC when they buy/sell $100+ on the platform. Once you’ve registered for an account and downloaded the mobile app, you can also complete learning missions to win additional free BTC each day. To open a perpetual swap, traders also have to leave an initial stake at the exchange on which they place their bets. The source of this information is the website and the broker’s trading platform listed in the Web section of this review.

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All contents on this site is for informational purposes only and does not constitute financial advice. Consult relevant financial professionals in your country of residence to get personalised advice before you make any trading or investing decisions. Daytrading.com may receive compensation from the brands or services mentioned on this website. OKEx account optionsNote, contact the customer support team to delete your account. Customer reviews of the platform are positive highlighting the reliability and straightforward joining process.

Only Binance has more than the over $2 billion in trade volume seen at OKEx. OKEx is a relatively new cryptocurrency exchange platform, having been split off from the well established OKCoin exchange in May 2017.

okex review

As of May 3, 2018 while I write this they appear to be changing this, likely due to the implementation of KYC and AML regulations. While OKEx has its headquarters in Hong Kong, the company itself is registered in Belize. Interestingly, even though they are headquartered in Hong Kong, they do not accept Hong Kong traders. People are very friendly and nice here, they are hard-working, dedicate and really love the industry. OKEx have started a buy-back scheme to gradually burn the 300 million circulating supply of OKB which occurs every 3 months. This is seem by many as positive intent to drive up the price of the token by reducing the supply amount.

There isno need to upload any identification documentation unless you intend to withdraw more than 100 BTC in a 24-hour period. While we aim to provide you with accurate and the latest information in this OKEx review, we strongly suggest that you visit their site to keep updated with any changes that may occur afterward.

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OKEx is a global digital asset exchange that offers advanced financial services to traders word wide by using blockchain technology. The exchange provides several token and futures trading pairs to help traders to optimize their crypto trading strategy. To conclude this review, OKEx is a robust and secure platform for individuals to trade digital currencies. The wide selection of crypto assets with margin, derivatives, futures and options make it an ideal platform for the serious crypto trader. Innovative financial products and services such as earning interest on crypto and lending to earn rewards will appeal to the investors.

okex review

Advanced features, intuitive user interface and a mobile trading app are important features on OKEx. This comparison table lists other top rated crypto exchanges like OKEx that offer world-class features. Bitfinex – Bitfinex is among the best crypto exchanges for experienced traders with a free mobile trading app and low fees.

Okex Compared

OKEx also offers a My Wallet function where clients can manage funds across their different trading accounts and tokens. Guidance on funding rates, selling cryptos and internal withdrawals can be found in the exchange’s beginner guides. TradingBeasts helps individual traders learn how to responsibly trade binary options and CFDs. We verify and compare brokerage companies and warn our readers about suspicious projects or scam marketing campaigns. We are also a community of traders that support each other on our daily trading journey. OKEx has a mobile trading app which is available to download for Android, iOS Microsoft and Mac devices. There is a minimum Bitcoin network fee that is charged when you withdraw Bitcoin from the exchange which is determined by the blockchain load for each asset.

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OKEx appears to be asafe cryptocurrency exchange that features several security measures on its platform to protect client information and keep funds safe on a wallet. According to our research, OKEx has not been involved in an exchange hack or experienced a major security breach or compromise.