In a world where cryptocurrency is on its way to mainstream payment systems, using a secured exchange is crucial because you’d want to use a platform tailored to your needs. OKex is one of those cryptocurrency exchanges that offer beneficial features such as Algo-Order options, affordable trading fees, and others.
OKex was founded in 2017 by Xu Mingxing. It stores information on blockchain technology for secure transactions that can’t be corrupted by anyone. Additionally, it offers a wide range of cryptocurrencies that can be traded around the world.
The exchange aims to eliminate financial barriers and improve the global economy by creating an innovative financial ecosystem through blockchain technology. It wants cryptocurrency trading accessible by continuously innovating and improving its features.
Moreover, OKex is a sister company of OKcoin that also moved to Hong Kong after Initial Coin Offerings (ICOs) were banned in China. The exchange was built to cater to advanced crypto traders while OKcoin focuses purely on trading digital assets.
OKex exchange features
Just like other cryptocurrency exchanges, OKex also has features that will improve your trading experience. Here are OKex’s features:
Wide selection of cryptocurrencies
OKex offers more than 140 cryptocurrencies. You’ll also find different trading pairs, allowing you to discover other digital assets as you trade.
With OKex, you can trade with various orders such as market order, limit market orders, advanced limit order, and more. Choose from different types of market orders because these will allow you to trade with a set price and volume.
Accessibility and Mobile trading
OKex can be accessed through both mobile and desktop applications, providing you with easy access no matter where you are. If you’re an active trader, using the desktop version can help you navigate the site better because it’ll already show you the charts. However, if you simply want to trade, then the mobile application is ideal for you because it offers easier and faster transfers. You can download it on Apple Store for iOS users and Google Play for Android users.
OKex has a maximum of 0.15% spot trading for market takers. This is lower compared to the industry average of 0.25%.
The platform’s fees are determined by the trading volume of investors. For instance, the market taker fee can lessen to 0.135% if an investor that uses ETH has a trading volume of 400 ETH.
Deposit and withdrawal fees
Depositing on OKex is free of charge. All you need to pay are withdrawal fees which cost slightly lower than most exchanges. Moreover, OKex exchange fees depend on the type of cryptocurrency you want to trade.
Margin interest rate
When using OKex’s margin trading, the platform will charge you a margin interest rate when you borrow tokens. You’ll find the list of margin interest rate fees on OKex’s website. When you’re using margin trading, you’re basically borrowing funds. That’s why you’ll be charged with interest.
Even though it’s included in the largest cryptocurrency exchanges in the globe, OKex hasn’t been hacked since it was established. This makes it one of the most secured and trusted platforms among cryptocurrency users.
The security of OKex’s token is because of the exchange’s advanced privacy encryption technology. To further secure the traders’ accounts, OKex also added the following features:
- Email verification code
- Two-factor authentication
- Mobile verification code.
OKex provides 24/7 customer service if you encounter any problem when using the platform whether in technical trading issues or an error. You can reach out to the customer service team via phone, email, WhatsApp, and live chat.
Create an account on OKex
It’s easy to create an account on the OKex exchange and you can either use your mobile number or email address to register. Here are the steps in signing up:
- Visit OKex’s website and once you’re in, click the ‘Sign up’ button located at the top right of the website.
- Enter your email address or mobile number to sign up. You don’t have to provide your country code for the phone number. If your number begins with zero (0), don’t include it when you sign up because login issues might appear.
- After providing your email address, click the ‘Get code’ button located on the right side of the ‘Email’ box. After receiving the six-digit code in your email, you will only have 60 seconds to enter the code.
- Once you place the code, you have to provide a password. Make sure to use a series of numbers, letters, symbols, and lower & upper case letters. OKex requires 6 to 32 characters.
- Enter your password the second time to confirm it.
- Read and confirm the terms and conditions by ticking the small box.
- Click the ‘Sign up’ button to complete the process.
How to trade in OKex
Once you have created an account in OKex, you can now begin trading on the platform. Here’s a guide on how you can trade on OKex:
- Go to the ‘Trade’ option located on the top menu to check the available markets.
- Choose ‘Basic’ if you’re a beginner or ‘Advanced’ so you can open the margin trading section.
- Activate the margin trading by ticking on the box regarding the terms for margin trading and click ‘Submit’.
- Make sure to transfer funds before trading. Click on ‘Transfer’ if you don’t have any balance in your account. After you put funds in your account, transfer them from the ‘Funding Account’ to ‘Margin Account’.
- Afterwards, select the trading pair you want.
- Choose your desired amount of leverage by clicking ‘Leverage’, then click ‘Submit’.
- Provide the details of the margin transaction.
- Review your transaction and once everything is complete, place your order to complete the transaction.
- If you want to opt out of a transaction, you can click the ‘Open orders’ tab and click ‘Cancel’.
Begin trading with OKex!
Granted that OKex is relatively new, its popularity and features show its potential in the market. With the benefits that it can give its users, it’s no doubt that this exchange can keep up with some of the most established exchanges in the world.