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It has a clear and intuitive interface, complete with charting tools and different order types. Now that you are well-versed in what services and features OKEx offers, we will show you how you can get started in a few trading steps on the platform. Like all wallets, OKEx has a mobile app available https://www.tokenexus.com/omg/ for all users. You can get it from the Apple Store and Google Play Store in all supported countries. High-volume traders with volumes over 1,000 BTC in monthly volumes receive discounts. In fact, traders with over 15,000 BTC in volumes get negative fees – OKEx pays them to provide liquidity.
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. It usually takes 30 minutes to process a payment for crypto made through a fiat provider. When transferring crypto from a third-party exchange, the speed often depends on the network and blockchain traffic.
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Clients can purchase cryptos using a credit card or transfer tokens from a hardware wallet address or alternative exchange. In fact, the exchange offers some of the most competitive crypto pricing that we’ve seen. OKX’s crypto offering is split into the spot, margin and derivatives markets (although note that derivatives are not okex review available for UK retail traders). Derivatives can be further broken down into options, bi-quarterly futures and perpetual swaps, which are similar to futures but without an expiration date. OKX’s trading bot is available in seven different modes, enabling you to find the most suitable strategy for your specific situation.
Is OKEx P2P safe?
OKX P2P Trading marketplace is a safe and convenient way to buy or sell cryptos. When you buy crypto, we hold the seller's crypto in our escrow service until the seller receives your payment, and then we release the crypto. In case the seller doesn't release the crypto, you can raise a dispute.
Minimum initial deposit
No information on the minimum initial deposit is available at OKEX. We are used to forex brokers providing a minimum level, which is usually around the $100 mark (as is the case with easyMarkets, for instance). However, in the cryptoverse, not demanding a minimum deposit isn’t anything special. The situation with the two is similar to how GDAX is owned by Coinbase – one brand is targeting retail consumers, while the other one is dedicated towards serious traders. To buy your first cryptocurrency, you have to click on the “Buy/Sell” icon on the top left corner, where you will be directed to the page below.
OKX Details
But for the sake of this writing, once you verify your email, you can head straight down to depositing funds. You will need to fill in your phone number and choose a strong, unique password. This OKEx exchange review dives into how OKEx works, the benefits you stand to gain and if there is a better alternative. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics.
In addition, they can also assist you in managing multiple accounts. This can explain the relatively low popularity of this exchange in the west. This is also combined with the concerns about Chinese regulatory actions in the cryptocurrency space, as the country recently banned ICOs. With all of this, OKEx can hold its own against any other top exchange available.
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Your feedback is valuable to us, and we will take it into consideration as we strive to improve our services. If you have any further suggestions or questions, please let us know. The assets themselves are lent to margin traders for their trading activities. Futures are basically an agreement to purchase or sell units of a digital asset at a specific price and a particular time.
- We kindly request your patience as our team continues to work diligently towards resolving this issue.
- The opposite applies if you put in a sell limit order – if the share price falls below this specified level before any purchases are made, then no selling will take place.
- They include spot grid, futures grid, smart portfolio, iceberg, time-weighted average price and arbitrage order.
- Up to three rewards worth $10 in BTC are available for each person referred.
- Contracts for Difference (“CFDs”) are leveraged products and carry a significant risk of loss to your capital.