Okex Derivatives Review

Interestingly, users can easily access every feature from their website. These features include access to withdrawals, deposits, trading tools, trades, options, assets, and more.

Buy DeFi tokens like YFI, UMA, LEND, MKR, CRV, COMP, SUSHI, and others. OKEx is a top-tier cryptocurrency trading platform that offers advanced financial services to traders word wide by using blockchain technology.

Okex Api

Phemex is a platform that enables you to seamlessly trade digital assets. This application allows you to buy cryptocurrencies with a debit card, credit card, or other payment methods. Investors can use OKEx as a day trading platform for cryptocurrencies and derivatives – 24/7. This can be done through spot or margin trading of cryptocurrencies, futures contracts, and other digital tokens. They aim to provide a safe, reliable, and stable environment for digital assets trading.

The iceberg order type is an algorithm order type that prevents users from placing large orders to mitigate slippage. Skilled traders that use chart indicators can do so by using the full-screen mode, as shown below.

Okex Review 2021

OKEx is currently considered one of the largest and most popular crypto-to-crypto and fiat-to-crypto exchanges in the world, serving more than 20 million users in over 100 countries. OKEx exchange platform provides a mining pool, which is a shared group of cryptocurrency miners. These miners combine their computational resources over a network to mine digital assets. Besides this, it also supports Proof-of-work mining of nine significant cryptocurrencies.

Users can easily access open orders, positions, order books, trade history, and more through the dashboard. As you can see, the Buy/Sell gateway on OKEx also supports P2P and block trading. KYC verification may take about 5-10 minutes to complete and an hour for staff members to review. Click on the respective account categories that suit you best and follow the prompts to complete your KYC verification.

Hardware Wallets

For users who trade crypto on the OKEx trading platform, there is a quick trade option with a simple user interface. Binance’s platform can be a little overwhelming for upcoming users compared to OKEx’s simple and straightforward approach to trading. You can easily access tons of features and options on OKEx without being intimidated by advanced tools, which can be the case with Binance.

OKEx brokers work by attracting users for their particular product which is based on the liquidity and market depth provided by OKEx. The exchange discusses the main benefits of its brokerage program, and these include high commissions, product performance boosts, and 24/7 support. To become an OKEx broker, applicants must own an independent product that supports API trading, over 500 BTC in monthly volume, and at least 2,000 monthly users. Cryptocurrency mining can bring in considerable profits, but it often entails expensive investments in powerful hardware, as well as electricity consumption costs.

Okex Exchange Review, Trading Fees, Deposit And Markets

But the key thing to note is that when you buy an option, you have a limited downside risk and an unlimited upside potential. The reason that it is called a “Swap” is because you are swapping the returns for one asset for another. Given that you are doing this, you will have to pay a funding rate. With a perpetual future, you can hold a position without any time limit and withdraw your realized profits anytime. For those of you who trade CFDs or spread betting instruments, a perpetual swap has the same payout profile. Given that OKEX derivatives operates a leveraged trading platform, they have to have measures in place in order to reduce the risk posed by market movements to the trading pool.

The TWAP order type is an advanced algorithm order type that allows users to execute an order in portions at regular intervals of time set by the users. You can instantly buy cryptocurrencies on OKEx via various vendors and fiat processors. To start trading or to use OKEx products, you’ll need to transfer funds from your Funding account to your Trading account. Note that all incoming cryptocurrency transactions for your OKEx account are credited to your Funding account by default. As mentioned earlier, OKEx has designed its app and website with the customer in mind.

Cex Io Exchange Review

Earn more on Bitcoin and other cryptocurrencies with Bitcompare. To get the lowest exchange withdraw fees, withdraw with options such as ERC-20 Tether . You can also reduce fees by using the OKB coin, which offers trading discounts. Overall, OKEx has notably low fees, which compare favourably to most other leading exchanges. However, the spread, or difference between the buy and ask price, must also be considered as a trading cost. Generally, spreads are low on coins with a lot of trading activity, so you should compare OKEx’s markets for your coin of choice to other exchanges to find the best spread. OKEx offers up to 10x leverage for spot trading and up to 100x for contracts; a level of risk suitable only for pro traders.

• When selecting a cryptocurrency trading exchange, it is essential to be comfortable with the trading interface, order types and charting tools.
• If you are not ready to bag the risks involved with trading crypto directly, a great alternative is buying shares and stocks of companies exposed to cryptocurrency.
• OKEx also has a mobile application that can be downloaded on the Apple Store and Google Play.
• View OKEx exchange statistics and info, such as trading volume, market share and rank.
• More than 20 million traders globally, more than 400 trading pairs, with 24/7 support services providing easy access when traders face problems.

Not only does it have the advantage of being backed by one of the largest trading platforms in the world, but it is also really well designed. OKEX has also provided a plethora of educational resources for you to take advantage of. This has got everything that you need to know from simple trading guides to more advanced resources such as how to trade options and futures as well as bespoke trading strategies. This basically means that margin will be drawn from not only your futures account where the funds are but also from the other accounts where you have funds. If you expand out the chart then you will notice that you have two options in order to trade with. One is the default chart offered by OKEX and the other is the Tradingview chart.

Day Trading

Note that the “Link API” is if you would like to bound the API key to a certain IP address. This would mean that only this IP could send commands to the API. Once you have created your key you can place it in your code in order to start trading. For those of you who like to code trading algorithms, you will be happy to know that OKEX has a pretty robust API with a number of endpoints.

As a privately-held company, OKEx was founded in China, but is headquartered in Malta, and actively employs over 1,000 people. The exchange is led by Jay Hao, who has been serving as its CEO for years. Jay is well-known for his prior involvement in building blockchain-based applications for mobile gaming and video streaming . To conclude this OKEx review, it is a safe and reliable platform to trade a wide range of altcoins and the major crypto pairs such as Bitcoin, Ethereum, Litecoin and Ripple. The exchange allows direct crypto deposits from other exchanges or your own hardware wallet. This software helps you to buy & sell Bitcoin, Ethereum, and various other cryptocurrencies.

Tradeogre Review

Like many other exchanges, OKEx has tiered fees, meaning that lower fees can be accessed by those with a higher trading volume, or by holders of the OKB utility token. Founded in 2017, OKEx is a Seychelles-registered cryptocurrency exchange that provides a platform for trading various cryptocurrencies.

OKEx has become synonymous with the title of the best cryptocurrency exchange in the market. So, the most important comparison for the OKEx platform is Binance. Binance has quickly become the largest cryptocurrency exchange in the world. Let us compare these two and find out which one should be your cryptocurrency exchange.

• Binance is one of the best crypto exchanges that offers a platform for trading more than 150 cryptocurrencies.
• All that being said, the exchange has announced that it plans on re-including support for US customers and USD deposits.
• The trading fees for Spot, Futures, and Perpetual Swaps are different.
• I earned 12$ from 20$ its a great great exchange with extremely fast in deposits/withdrawals.the community is also responsive.
• High net worth traders with a huge trading volume during a 30-day period can also avail of further rebates and trading fee discounts.

The maker/taker fee can be reduced to 0.06% and 0.09% respectively if 2,000 OKB tokens are held within the OKEx wallet. 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. OKEx exchange currently offers 246+ different cryptocurrencies that can be traded on the website against USD, BTC, ETH, DAI and OKB pairs.

• Here you have the spot account, fiat account, futures account, index trading account, and C2C trading account.
• After the account verification is done with the 6-digit pin code now, the users will have to fund their respective accounts.
• Before getting started, it is often recommend to use a Bitcoin hardware wallet such as theLedger Nano Xwhen trading cryptocurrency.
• These assets include support for bitcoin PoW (Proof-of-work) mining of some major coins in the space and others that have lost their shine.
• Innovative financial products and services such as earning interest on crypto and lending to earn rewards will appeal to the investors.
• The exchange uses KYC (know-your-customer); users must complete at least KYC verification level 1 in order to withdraw tokens from OKEx.
• Also, the OKEx exchange provides access to over one hundred cryptocurrencies, as well as tokens.

The middle bar reveals the order book and history depicting the transactions of crypto pairs on the OKEx exchange in pairs respectively. The exchange is also temporarily suspending withdrawals on 16 October 2020 because the founders were allegedly arrested. However just a few days they announced the withdrawal opened On 19 November 2020 and will resume on or before 27 November. We want to note that OKEx support okex review is easily accessible and works quickly and efficiently. Also, you can install a desktop program on your computer for Windows or Mac OS. There is an opportunity to visit the site from a mobile device. The Cryptocurrency exchange has undoubtedly shifted perspectives in the crypto sphere over the past few years. If you weren’t already aware, OKEx offers a great paper trading system (no-risk trading simulator).

Author: Felipe Erazo