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The Ultimate Guide to OKEx.com Crypto Exchange

What is OKEx.com?

OKEx.com is a Hong Kong-based digital asset exchange that offers spot trading services for major coins like Bitcoin, Ethereum, and Litecoin. It also offers margin trading with up to 20x leverage, futures trades on crypto indices such as CMCI (Crypto Market Cap Index) and calculates the volume-weighted average price of its token list by using real-time data from external exchanges, including Bibox, Bitfinex, Binance, Bithumb, Bitstamp, and GDAX.

This guide will provide you with everything that you need to know about this cryptocurrency exchange in order to decide whether or not it is the right one for you!

When did OKEx.com launch

OKEx.com was established by OKCoin Co., Ltd and the International Digital Asset Exchange (ODAX) in July 2014, following a series of mergers between parent company OK Group subsidiaries. It officially launched on November 11th, 2014 with four currency pairs: Bitcoin/Ethereum; Ethereum/Bitcoin Cash; Bitcoin/Litecoin, and Litecoin/Bitcoin Cash.

This guide will provide you with everything that you need to know about this cryptocurrency exchange in order to decide whether or not it is the right one for you!

Who is the team behind OKEx.com

OKEx.com is led by a team of industry veterans including CEO Chris Lee, who previously worked at Google and co-founded the crypto exchange BitMEX; Chief Strategy Officer Arthur Hayes, formerly head of Citigroup’s Global Markets Japan unit and co-founder of the digital asset trading platform Crypto Facilities Ltd.; Vice President Jay Cheng, an alumnus from IBM with extensive experience in finance and technology services across global markets; Chief Financial Officer Michael Gan as well as many others. It’s safe to say that these guys know what they’re doing!

Why chose OKEx.com?

OKEx.com is one of the most reliable and safe cryptocurrency exchanges available on the internet today, in a space where safety has become more important than ever before. It’s always best to backup your funds or purchase Bitcoin when you want to switch cryptos as it can be difficult for inexperienced traders to find the right balance between prices and liquidity by themselves – so many people choose OKEX because they offer high levels of security with multiple-signature wallets that are protected under bank-level encryption keys developed specifically for online transactions; plus all US dollar deposits at this exchange come through an offshore FedWire transfer system which means they won’t incur any additional fees from their country’s customs and borders control agency!

Which countries aren’t allowed to trade at OKEx?

USA, Hong Kong, Cuba, Iran, Bangladesh, Malaysia, Bolivia, Ecuador, or other countries sanctioned by the U.S.

Is OKEx safe to use?

The OKEX.com website has an SSL certificate that protects all data as it is transmitted to and from their web servers, so you can be confident that none of your information will ever fall into the wrong hands.

Register an account on OKEx.com

Sign up on OKEx

It’s incredibly simple to open an account.

Open up your browser and go to the OKEx.com website

Follow the prompts, inputting all of the information requested in a simple form – it should take no more than one minute!

If you have any problems registering an account on their site or would like further assistance they offer support via live chat at every hour of the day.

The registration process is also available in 12 different languages to cater for users from around the world.

The verification process on OKEx

Before you are able to trade crypto, it’s important to verify your account. And to do that you have to go through a verification process.

This can be completed on the OKEx site by clicking “Account” then “Verification”. You’ll need to provide your ID or passport, holding up a government-issued photo ID in front of your face with both hands for as long as is necessary (usually 30 seconds). Then you answer three security questions from their list and submit this information – they usually take about 15 minutes to verify.

Once you’ve been verified and have had at least one successful trade, it’s important that you set an email address before enabling two-factor authentication. This way if someone else tries to log into your account without permission, they won’t be able to reach your funds.

How to buy your first crypto on OKEx.com

After you verified your account, it’s time to buy some coins. You can use the search bar at top of the main page, or click on “Markets” and pick a currency pair that you want to trade with – EUR/USD for example. On your left-hand side, there are all sorts of information about this pairing from volume per hour, volatility vs bitcoin price in recent 24 hours, etc.

How to trade on OKEx.com?

  1. Select the currency pair you want to trade with.
  2. On your left hand side, select a trading type like market orders or limit order. Market orders will execute at whatever the current price is when it hits that amount; in contrast, if you have set up and entered an exact number for a limit buy or sell order then this will only be executed once someone else has matched what you’re asking for on their end of the deal .

If you’re not sure about how much to buy or sell, there are a few tools that can help:

  • The “Risk Management” function under “Trade Tools” gives you an idea of what your risk tolerance levels might be based on historical volatility data–you will have two options given for how accurate your readings should be. The Standard option is more conservative and assumes a smaller price change than the Aggressive one; if these numbers don’t correspond with what you think they should be, adjust them accordingly until they do.
  • Ask yourself some questions: What are my risk tolerance levels? Do I think the coin prices could go down 20% from here? Am I willing to hold onto these coins until they eventually get back up there again? If so, then place a low-limit order rather than waiting for the price to move in your direction.

Spot trading.

Choose one of OKEx 100’s of coin pairs and enter the trading amount in units on the right-hand side.

Click on any coin pair name which has green lights next to it (the first column) and then click over at the buy button to confirm the trade.

You will see your new funds within your “asset” tab on your right-hand side in the top menu.

Margin trading on OKEx.com

*Margin trading is a trade that allows you to leverage your funds, meaning you can multiply the amount of money you’re willing to risk using borrowed capital.

The Margin Trading system on OKEx provides borrowed funds for traders who want to trade more than they have deposited into their accounts but would like some risk management tools that are not available when using spot trading alone. Investors leverage these loans so they can make larger bets without having as much capital invested. OKEx offer three types of borrowing levels – low-level longs, high limit shorts, and medium leveraged positions.

Medium leverage position is an investment that has less than 50% borrowed funds, making it more stable but also limiting your potential gains if the market moves in your favor.

The maximum loan size varies by currency and this number changes daily. When it comes time for settlement, we charge interest on the loaned amount based on the USD value at an annualized rate plus fees accrued during each day (the sum varies depending on foreign exchange movements). To understand how much your margin position will cost in total, always make sure to know the fee schedule where you trade.

OKEx offers three types of borrowing levels – low-limit longs, high-limit shorts, and medium-level leveraged positions. As explained above with spot trading, these numbers

Perpetual trading at OKEx.com

  • High limit: maximum 12 times the margin you borrow
  • Medium Limit: up to 15% of your account balance or 50,000 USD whichever is lower.
  • Low-Level Longs and Short position borrowing can be increased by trading at higher levels with a greater amount of volatility in order to increase profit margins.

Contracts on OKEx

Contacts offer some protection against sudden price changes or drops so you don’t lose all your money when things go south on high volatility trades but still allow you to make profits from both upswings and downfalls through numerous opportunities available on OKEx’s trading platform.

A contract is equivalent to 100 shares of a company’s stock and when you trade with contracts on OKEx, your profit will be calculated in basis points (i.e., per 100 units).

OKEx.com trading fees

When trading on OKEx.com, you will have to pay a 0.0025% fee for every trade executed with Bitcoin (BTC) or Ethereum (ETH).

This is in addition to the taker fees which are dependent on your position size and vary from 0.04% -0.20%.

Okex.com Pros and cons

PROS

  • OKEx is the most used cryptocurrency exchange by volume with a vast selection of options and asset classes.
  • Okex.com has more than 100 coins listed on their exchange
  • allows you to buy Bitcoin with Bank Transfer, Alipay, or WeChat Pay.

Cons

  • you have to pay fees for every trade (even if they go your way)
  • Okex will not list certain coins which can be frustrating or inconvenient.
  • it’s not as beginner-friendly when compared to traditional stock exchanges.

It may seem like there are more pros than cons but this all depends on who uses OKEx and what their goals are after signing up for an account with them. There are many benefits so do not hesitate to give yourself a chance!

OKEx Bonuses to new traders

Buy $100 worth of crypto to receive an extra $10 for free

Deposit $100 worth of crypto to receive $20 for free

Sign up on OKEx

Wrapping things up

The world of cryptocurrency is still relatively new and uncharted. In the past few years, Bitcoin has surged in popularity with increased prices to match its rise as a global currency. With this increase in use and value, many exchanges have been created that allow people to trade cryptocurrencies safely without worry about fraud or theft. One such exchange is OKEx which was founded by Chinese company OkCoin back in 2014. This Hong Kong-based site strives for excellence when it comes to trading platforms for all types of assets including digital currencies like bitcoin, etherum (ETH), litecoin (LTC) and more than 100 other altcoins on their platform. For those who are interested but not sure how they can get started with an account at OKEx.com, we hope this review gave you some insights and gets you started.

Visit OKEx.com

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