okex exchange review

Features such as email verification,two-factor authentication and fund lock are compulsory. Also, if the platform suffers a security breach, the exchange should have the necessary insurance plans to indemnify your losses. OKEx are currently dominating crypto derivative trading volumes, and they offer a good range of crypto derivatives trading products with competitive tiered fee structures. As broker fees can vary and change, there may be additional fees that are not listed in this OKEx review. It is imperative to ensure that you check and understand all of the latest information before you open an OKEx broker account for online trading. You should therefore carefully consider whether using the spot services or additional services is suitable for you in light of your financial condition. Due to such price fluctuations, you may gain or lose value in your assets at any given moment.

Is Poloniex a US exchange?

Popular cryptocurrency exchange Poloniex recently announced that it will be shutting down US operations and no longer providing services to US users.

OKEX is directly linked to OKCoin, so you can make a CNY transfer to the latter and trade on the more sophisticated exchange. Additionally cryptocurrencty transfers in BTC, ETH and LTC are accepted.

Okex Review 2021

Therefore you should take all precautions necessary to ensure the suitability, appropriateness and adequacy against your own circumstances. We further recommend that you should seek professional financial independent advice before you obtain any of the services or products referred to within this Website. Over 300 cryptocurrencies are traded on OkEx against Bitcoin including many tokens such as ETH , LTC and HSR . If there’s an altcoin out there, then it will probably be available for purchase on OkEx in some form. Stop limit orders can be used to buy or sell at a specified limit point. The difference is that if you put in a buy stop limit order, it will only execute when the market falls below your pre-set price and vice versa for sell stop limit orders. However, thanks to its exposure to traditional stocks and other financial instruments, eToro provides a better and broader trading experience than OKEx.

okex exchange review

OKEX Reviewby professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker in this OKEX Review. In terms of trading, they have volumes, although you should definitely beware of their “clawbacks” policy if you trade size. 30% of fees for new users AND returning users, but only for 180 days, unfortunately. Aggregate open interest across BTC futures products rose marginally to $10.1bn (up 4.5% from June) while open interest across ETH futures products rose $4.3bn (up 2.4%). Derivative volumes reached 56.9% of total cryptocurrency volume, the highest percentage share of total volume since November 2020. The impact of this can be seen in higher daily derivative and spot volumes, particularly in the last few days of the month. For example, a daily spot volume maximum of $98.0bn was traded on the 26th of July.

Browse Other Popular Crypto Exchange Reviews:

If you plan on buying, trading or using bitcoin or any cryptocurrency, a wallet is a necessity. In this guide we’ll discuss the types of Bitcoin wallets and why you may choose one over the other. As bitcoin and other cryptocurrencies are digital assets, the way they are used and stored differs from traditional currencies. A crypto wallet should be looked at as a way to access the cryptocurrency cryptocurrency you own, as well as a way to send and receive it. Wallets can be on your mobile device, on your desktop, a physical hardware device that you can carry with you or even a piece of paper. Like all crypto wallets, a bitcoin wallet has both a private key and a public bitcoin address. The private key is what you use to access your public key or bitcoin address and interface with the bitcoin network.

The minimum deposit amount on OKEx is 10 USDT (£7.25) or equivalent to other currencies. Once your account has been verified and you’ve deposited the funds, they will be automatically added to your account. The exchange currently offers trading in over 240 different cryptocurrencies, which can be traded against cryptocurrency Bitcoin, Ether, XRP, Tether, EOS, Litecoin, and Bitcoin Cash. Its depth of altcoins is quite impressive, allowing you to enjoy optimal liquidity. The company initially operated out of China, but it moved to Hong Kong in 2017 after the Chinese government instituted a ban on trading Initial Coin Offering tokens.

OKEx’s referral and affiliate program allows you to earn commissions when your referrals buy crypto, deposit crypto, and trade on the platform. So if you are looking for the best online broker to invest in crypto, you can trust eToro to give you the access you need. You also get to review and choose which trader suits your risk appetite, as you will be provided with the necessary details about the trader. This can be very useful, especially if you are starting in trading.

For example, some use marketing strategies that encourage and reward followers who promote or ‘pump’ the cryptocurrency on social media so more people buy-in and the value goes up. Several coins, including Kishu Inu, have been launched to ride on the tails of the success of Dogecoin, which has also been backed by Musk.

What Is Okex?

As mentioned above, Exchanges are not the ones setting the pricing. Instead, each seller requests their own exchange prices, which is why you will see different pricing on different platforms. Hence, doing research before making a transaction is advisable if you want to get the best deal.

Can you trust Bitstamp?

Bitstamp is a safe and reliable platform. It has millions of happy users. However, beginners may find the platform difficult to use.

Advanced crypto exchanges allow you to trade assets through third party funds through the margin trading feature. However, make sure you have the knowledge and experience needed for this type of trading before you dive into any advanced features.

You can learn more about fees and thresholds by researching the exchanges you are interested in. Overall, the withdrawal process is usually intuitive and specific to each exchange. After buying some crypto, you can either keep it on your account or withdraw it to a “safer location”. You can choose to make a withdrawal either to your bank account if fiat or to another crypto wallet if crypto. Transaction and withdrawal okex exchange review fees will be calculated based on each platform’s fee policies. Keep in mind that depositing currencies that are not accepted by the exchange will trigger some extra fees (research the specific exchange you’re using to learn more about additional fees). Depending on the platform you chose, you will have multiple deposit options at hand, including bank transfer, debit or credit card transaction, or even PayPal.

Is Okex Legit?

Any VFA or trading position may be subject to large swings in value and may even become worthless. After submitting your name, country of residence and ID number, you’ll be able to access a single transaction limit of RMB800 . This limit can be raised as high as RMB1,000,000 per transaction by submitting additional information. I review forex and crypto trading products and services to find the best of what’s out there for creating a passive income without becoming a full-time trader. OkEx has a 24-hour withdrawal policy for all cryptocurrencies, tokens and fiat. This feature makes it easy to withdraw funds from OkEx at any time because there is no waiting period needed before your action is executed.

OKB, the native token of OKEx, is currently operating in the Ethereum Network . Later this year, it will be migrated to OKChain, the blockchain which OKEx has been developing.

  • The assets themselves are lent to margin traders for their trading activities.
  • Although both platforms are good, investors and traders might begin to seek out some Bittrex alternatives, perhaps because they want a particular feature not available on either platform.
  • You can also transfer your funds into OkEx by first sending the currencies to a wallet that is compatible with both exchanges and then transferring them over to OkEx.
  • It supports a few payment methods, and it is not suitable for traders who are just starting with investing in cryptocurrencies.
  • The derivatives market now represents 56.9% of the total crypto market (vs 52.9% in June).
  • Depending on the platform you chose, you will have multiple deposit options at hand, including bank transfer, debit or credit card transaction, or even PayPal.
  • All crypto exchanges charge different fees based on your transactions.

OKEx offers 400+ pairs and margin trading products on top coins like Bitcoin and Ripple. With no regulatory oversight a broker can offer higher leverage and other features that regulated brokers can not, but it also means that traders need to be more careful. Don’t deposit large sums before you feel confident that the operator is trustworthy. OKEX is one of the few crypto-exghanges which offers a stand-alone desktop platform. While you may be used to browser-based trading, there are a few advantages to having a separate piece of software.

In the case of mobile application, the navigation toolbar has an option for ‘Contact Us’ from where you can monitor your conversations. However, as of now, the exchange does not seem to have a live chat or phone call option to contact their customer support.

Popular Crypto Options Contracts:

OKEx is a global digital asset exchange that provides access to digital financial services. The platform offers exchange and trading services to cryptocurrencies and crypto-based derivatives, allowing traders to make money and capitalize on their holdings. Xcoins was launched in 2016 and is a leading cryptocurrency exchange. The exchange lets its users purchase cryptocurrencies quickly and securely, offering 24/7 customer support and caters to both beginners and experienced crypto-traders. Xcoins has seen exceptional growth since its inception, thanks to outstanding customer service and fast transaction speeds. Registering on the exchange is quick and straightforward, and its services are available worldwide. The only downside is that the exchange offers only a few cryptocurrencies.

okex exchange review

If you have any problems with your account or have a query about a transaction, OKEx offers a handy online support centre with answers to a wide range of frequently asked questions. However, if you can’t find the answer you’re looking for, you can submit an online support request, open a live chat window or email

There is also support for facial recognition verification, which can be used instead of or in addition to phone number verification. Market orders enable you to buy or sell at the best available price. The market maker does not provide liquidity in this type of trade and is obligated to fulfill it as soon as possible. A stop loss can also be applied on OkEx to all trades executed with this option for risk management purposes. If your stop loss level is reached during trading, it automatically executes a sale/buy transaction so you do not sustain any losses.

Crypto Trading

Although both platforms are good, investors and traders might begin to seek out some Bittrex alternatives, perhaps because they want a particular feature not available on either platform. Index Tradingis designed specifically for users who want to arbitrage by buying and selling of digital assets, instead of those who want to own digital assets. Users may buy or sell anytime with designated merchants according to the OKEx indices. The security features on the OkEx platform are some of the most robust on the market. First off, there is two-factor authentication that you should set up as soon as you have an account with OkEx. It’s easy to do and it provides much better protection for your funds.

Fees can vary depending on the exchange and the transaction amount involved. There are different types of cryptocurrency exchanges from which you can choose. To set up an account with an exchange, all you have to do is choose an exchange with which you wish to open an account. You will then need to provide the exchange with some personal identification details. Once verified, your account will be active, and you can start trading.

Even the most reputable cryptocurrency exchanges can easily become targets for large cybersecurity attacks. Hackers are actively trying to steal digital assets from exchange platforms through various threats which put your hard-earned money at risk. On top of practicing cybersecurity measures on your own devices, make sure to look for an exchange platform that places emphasis on security. It is best to keep your digital assets in “cold storage,” that is, wallets that are not connected to the internet. This makes them more difficult to access and thus much more reliable.

Author: David Pan

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