Although customers have complained about the support system and there have been rumors about possible hacks, it seems that the exchange is prospering despite any concerns. OKX Fees on Derivatives- The fees vary based on your trading tier, the instrument you use, and the number of OKB tokens in your account. Market makers can receive rebates if they generate over 100k in BTC trading volume on a 30-day basis, similar to other platforms like ByBit. There are CALL options that give you the right to buy, and then there are PUT options that give you the right to sell some asset. When buying an option, you are paying a premium to the counterparty and some trading fees to OKX derivatives.
Compared to NFT marketplaces like SuperRare, which only support assets created on a single network (Ethereum), OKX offers far more collections due to its support for several networks. As such, the OKX NFT Marketplace is ideal for serious investors looking to acquire several collections on different chains, like ERC-based CryptoPunks, and BEP-based Lucky Birds. While testing the exchange’s copy trading feature for our OKX review, we were impressed by how well the dashboard highlights the platform’s best traders. There are 1,253 leaders on OKX, who can be filtered by PnL%, PnL, win rate, and AUM, meaning it’s far more active than crypto copy trading exchanges like PrimeXBT. We found OKX’s transparency to be refreshing, as it’s all too common for platforms to try and obscure vital details like minimum lending APY.
Best Crypto Exchanges For Day Trading in Canada in 2024
The projects will need to apply to OKX and pass strict assessment criteria. If you’re trading with size (large orders), you can actually bypass the exchange completely, and so not potentially lose money if the price is affected by your order (called slippage). However, if you want to withdraw fairly large sums https://www.tokenexus.com/ of crypto, you’ll have to verify your identity – this is to comply with anti-money laundering laws across the world. You can even just buy with a credit and debit card in seconds if you like too, it’s so simple. You don’t have to use the more advanced exchange side of things until you’re comfortable.
If you’re trading futures and options (which is buying and selling based on the value of a coin, and not the coin itself), the fees start even lower, at just 0.050% taker fees and 0.020% maker fees. OKX is a well-designed exchange that protects its users with a variety of account and infrastructure-centric measures. As such, the platform is suitable for everyone, including experienced traders looking for a highly secure trading platform. Placing orders will feel familiar to those with experience using other exchanges that use the standard order-book interface. OKX offers six order types enabling traders to enter and exit positions precisely. Additionally, the platform supports multiple take profit/stop loss trigger orders on one position, allowing traders to enter/exit a portion of a trade automatically.
Crypto-Backed Loans
On top of that, OKX offers a crypto mining pool, Crypto-to-Crypto loans, and staking. The OKX CEO JayHao had a background in game development and the semiconductor industry before joining the crypto space. In 2018, the exchange expanded operations to Malta, which adopted a crypto-friendly approach. Takers are those who trade with the market prices presented on OKEx. In contrast, a Maker is one who contributes to the OKEx’s market by providing liquidity.
- More specifically, users can earn interest on their trading portfolio through decentralized finance options such as staking, and maximizing potential profits on an annual basis.
- Of course, trading fees will differ according to your trading tier, what the instrument is, and how many OKB tokens you hold in your account.
- OKX terms these instruments at Perpetual Swaps, but they are sometimes called perpetual futures on other exchanges.
- The advanced service allows professional traders to engage in sophisticated transactions involving multi-currencies to maximize profits.
Essentially, it provides you, as the contract holder, the ‘option’ to decide whether the trade will benefit you or not. If you opt against taking the option to buy or sell the underlying instrument at a later date, you lose your premium. Trading in options allows the investor to buy or sell an asset on an okex review arranged day. You can find all your trading accounts categorized within this tab. Here you have the spot account, fiat account, futures account, index trading account, and C2C trading account. Hence, you will first have to transfer your funds from the “Funding Account” to the respective trading account.
How Safe is OKEx?
However, with 187 more derivative pairs on the platform, the total number of tradable instruments on OKX is 916, which is impressive and will suit altcoin traders specifically. Yes, OKX is a very popular crypto exchange and is a prime contender with the likes of Binance and OKX. They have excellent asset support, extra features, and a plethora of tools which customers can utilize for their trading, hodling, and earning needs. They are one of the most popular and well-respected cryptocurrency exchanges in the industry. OKX is one of the safest platforms, as they are licensed and regulated. As mentioned, OKX is also one of the lowest fee exchanges in the industry, along with the low-cost leaders Binance and KuCoin.
