Cryptocompare Exchange Review

Overall, the complete set of tools that OKEx provides shows promising potential, even though the exchange is already large. With the number of consistent upgrades to their platform, they are attempting to be a place where users can have a wide set of financial tools for a new generation of finance. Even with the options that they already have available, OKEx has been willing to evolve with new financial instruments. If you want a large platform with unique and promising financial tools to use once you become more experienced in crypto, OKEx is a great exchange to have in your cryptocurrency toolbox. At the top left, you have the simpler trading options like buying and selling, which goes to the quick trade option.

Boasting one of the largest daily trading volumes, this comprehensive exchange is great for people looking to buy and trade cryptocurrencies. Additionally, the platform offers spot, margin, futures, options and perpetual swaps, as well as, NFT, DeFi, lending and mining services. As such, it is one of the most complete and diversified crypto platforms on the market and should suit most investor’s needs. As one of the biggest exchanges in terms of trading volume, OKEx is known as a ‘one-stop marketplace’ for cryptocurrency. It offers more than being a stop for spot trading and derivatives exchange. With margin trading, bridges, mining pools, a cloud service, decentralized options with OKExChain, loans, broker options, and so on, OKEx is one of the most versatile exchanges out there. They also have an education platform that helps you learn about exchange and trading in general.

OKEx has a peer to peer leveraged trading platform, and does not require traders to top up additional margin. According to OKEx, a trader’s losses are limited to the margin they paid for entering into the futures contract.

Where Is The Okex Trading App Available To Download?

Some of the cons, however, include no service to US-based customers and the lack of a demo trading account. OKEx has invested considerable resources into building an all-inclusive platform, designed to serve most needs that digital currency enthusiasts may hold. Apart from facilitating instant trading between popular trading pairs, OKEx exchange also provides margin trading, futures trading, DEX trading, perpetuals trading, and options trading. OKEx offers a wide range of trading options such as spot, futures, perpetual swap and options trading. One huge advantage of this exchange is that it offers fiat-to-crypto trading, so users can use OKEx as a one-stop shop for getting into, and “cashing out” their cryptocurrencies. The exchange features a large number of listed coins with various functions and competitive trading fees.

Algorithmic orders are in high demand and in that respect, OKEx doesn’t fall short of industry standards. As a trader you can choose between a market order, limit market orders, advanced limit order, stop-limit order, trailing stop order, an iceberg, and time-weighted average price order.

Want To Join Okex? Use This Link And Earn An Additional $50 Worth Of Btc And Trading Vouchers

OKEx’s loan product allows traders to quickly obtain crypto-backed loans from the platform’s other users. These are C2C loans that are facilitated through OKEx’s matching engine.

Please keep in mind that users must complete the tasks before 30 days of registration to claim the rewards. The trading fees for Spot, Futures, and Perpetual Swaps are different. The OKEx trading fees also differ whether the user is a regular or a VIP. OKEx fiat gateway allows users to buy Bitcoin, Ethereum, USDT, Ripple, Litecoin, and OKB with transaction fees as low as 0%. OKEx is a Malta-based exchange, and is currently considered one of the largest crypto-to-crypto exchanges in the world. Tor Constantino is a former journalist and consultant and a current corporate communications executive and business writer.

How Do You Avoid Okex Fees?

OKEx is a web-based platform that allows users to buy, sell, and trade crypto, as well as stake crypto, to earn interest and join miner pools to earn crypto rewards. Users can log into their account using a web browser and easily deposit funds and start buying crypto. OKEx offers advanced charting, multiple order types, margin and futures trading, and competitive trading fees. No, OKEx does not offer its services to U.S. citizens due to their strict internal regulations outside the exchange’s control. Therefore, investors will need to find a licensed trading platform in the USA to invest in cryptocurrency. OKEx Quick Trade is the simplest way to buy cryptocurrencies on the OKEx platform.

All in all, it has all the tools you need as a beginner while having a vast array of options for those looking to become advanced traders. To conclude this review, OKEx is a robust and secure platform for individuals to trade digital currencies. The wide selection of crypto assets with margin, derivatives, futures and options make it an ideal platform for the serious crypto trader. Innovative financial products and services such as earning interest on crypto and lending to earn rewards will appeal to the investors. Combined with a responsive customer service team and world-class security, OKEx is a leading exchange in the blockchain industry.

This is a great way for you to bounce some trading ideas off fellow local traders. Of course, there is no need for you to reach out if you can find the required information in their support centre. They have most of the answers that other users have posed and it is indeed quite comprehensive.

Is Okex Safe?

The highest trading fees that you can expect to pay are the 0.2% taker fee and the 0.15% maker fee. The lowest trading fees that you can expect to pay are 0.02%, which is for both the taker’s fee and the maker’s fees. According to Reuters, in February 2021 OKEx saw their biggest trading volume in history, up 26% from the previous month to $188 billion.

Particularly during a bull market, where many people may be looking to purchase/sell at the same time. Investors can use OKEx as a day trading platform for cryptocurrencies and derivatives – 24/7. This can be done through spot or margin trading of cryptocurrencies, futures contracts, and other digital tokens. Like other exchanges, OKEx has a VIP program to reward users who frequently trade with them. Users who hold more of OKEx’s token-OKB and have a high 30-day trading volume can get progressively more discounts on the maker and taker fees. In particular, higher level VIPs are even given rebates on the maker fees.

The Exchange also has to be more transparent regarding the veracity of its daily volume figures. Nonetheless, the fact that OKEx is accessible and fairly liquid keeps it in good standing with most in the crypto economy. OKEx is a crypto brokerage and trading platform that allows users to buy, sell and trade crypto. The platform provides users with many features such as margin-trading and other advanced trading options for experienced or professional crypto traders. In this article I will review OKEx, its services and its pros & cons. There are different types of market orders to help investors place a trade at predefined price and volume, and the ability to use Algo orders is specially vital for active day traders. In comparison to other cryptocurrency exchanges, the OKEx platform is quite advanced, allowing users to trade with different types of orders.

How To Trade Cryptocurrency Btc Futures On Okex?

Overall, OKEx charges less than 0.10% per trade for most users, and around a 1.5% fee for using a credit or debit card. OKEx has a DeFi trading option available for access to NFTs and DeFi public blockchains. We write product reviews and comparison articles in the field of cryptocurrency. Under OKEx P2P Trade, click on the currency you want from the dropdown menu and select the desired currency. Next, enter the amount and payment mode, and finally, click on the “BUY” option to buy that cryptocurrency. First, click on the “Log in” on the top right corner of the official site of OKEx.

The deposit and withdrawal fees are some of the lowest in the industry as well. Plus, thanks to OKEx can also diversify your investment portfolio with enhanced investment opportunities, without the risks that other platforms have. We provide perpetual swaps, derivatives trading, and other flexible investment opportunities. 15 Best Crypto Exchanges of 2021 Discover the best bitcoin and crypto exchanges with our guide and reviews. Read our comparison reviews and see how exchanges rank against each other. On July 30, 2018 a trader reportedly bought bitcoin futures with a $416 million notional value on margin, before being forced by the exchange to liquidate his position at a large loss.

Supported Countries And Cryptocurrencies

Futures contracts entail that traders agree to purchase or sell an asset at a predetermined time and date. OKEx’s trading interface comes along with all tools needed to make smart and profitable futures trades. Of course, all transactions out of OKEx’ wallets entail the payment of blockchain transaction fees, which are non-dependent on the exchange. OKCoin did its best to help and support their users whenever an issue arose and is ahead of other exchange platforms in those terms. You can contact the customer service anytime via email, telephone call or live chat. They also offer a FAQ section on their website which could use a bit more information.

It’s worth noting that some of the coins have minimum staking requirements, such as Ethereum, which won’t allow you to stake less than 0.02 ETH. OKEx also has a unique loyalty program that rewards regular use of its mobile app. Every day, five new “learning missions” are posted to the app, which require watching a video or reading an article.

You can participate in day trading cryptocurrency via margin trading cryptocurrencies or spot trading. Besides, you can also use digital tokens or future contracts as methods for day trading. Also, OKEx has one of the most extensive lists of supported types of cryptocurrencies. You can access both derivative trading and spot trading on the OKEx platform. Offering okex exchange both types of tradings ensures that traders have flexibility in their investment tragedies. OKEx offers a user-friendly mobile application that can be easily downloaded from Apple Store or Google Play. Traders either purchase cryptocurrencies on the website with a credit card or can transfer cryptocurrencies from other exchanges or any hardware wallet.

Once their accounts are funded, they can directly start trading on the OKEx platform. OKEx is one of the top crypto spot and derivatives exchanges in the world, and therefore the trading fee structure of OKEx is slightly different from other crypto exchanges. OKEx’s trading fee structure is dependent on whether a trader is a market maker or a market taker. However, the majority of crypto traders are market takers rather than market makers because of the huge number of securities needed to validate a trader as a market maker. It is revealed by an OKEx exchange review that they offer C2C trading that happens at market-driven prices and zero transaction fees. It happens via an advanced system that instantly matches traders and to guarantee safety, all traders are verified and customer service/support is available 24/7.

Apart from low trading and financing fees, the platform does not charge any fees on deposits. Their services are not available in Hong Kong, Cuba, North Korea, Iran, Crimea, Sudan, Malaysia, Syria, the United States, and its territories, Bangladesh, Ecuador, Bolivia, and Kyrgyzstan.

Although live chat is the most convenient option, sending a support ticket is also an option. This is perhaps if you want to ensure that your query gets routed to the most appropriate department. Well, I must admit that I personally am not one of the biggest fans of mobile trading in general. This is just because you cannot properly chart the trendlines or set up multiple trading parameters. For those of you who are on the go, you may need to monitor your positions from a mobile device.

• However, the maker/taker fee can be reduced to 0.06% and 0.09%, respectively, if the traders hold over 2,000 OKB tokens within the OKEx wallet.
• The app allows you to manage your trades and capital in an all-in-one platform – so buying and selling on the go is doable.
• Whether you are just a one-time investor or an active daily trader, it doesn’t matter.
• On the OKEx exchange market, monthly, bi-weekly, and weekly contracts are available.
• Boasting one of the largest daily trading volumes, this comprehensive exchange is great for people looking to buy and trade cryptocurrencies.
• Technical analysis trader that use chart indicators and trading tools can use the full screen mode as shown below.

OKEx offers access to over 100 cryptocurrencies, as well as hundreds of trading pairs, such as ETH-BTC. Popular crypto offerings include Bitcoin , Ethereum , Cardano , Ripple , Shiba Inu , and Dogecoin . New cryptocurrencies are being added regularly, and you can check out its full list of all support assets. The token can be either used to settle trading fees on the OKEx platform or to pay for “exclusive services including customer support services and enhanced API rates. Moreover, OKex is also one of the biggest trading platforms, which makes it highly reliable. This platform’s trading services and digital assets comply with the Virtual Financial Asset Act (“VFAA”) and are regulated under the authority of the Malta Financial Services Authority. It also reveals that the spot trading they offer make it possible to trade different types of crypto tokens both established and emerging tokens.

With daily BTC futures trading volume around $1.5 billion, users now have a wide array of tools. With their continuous upgrades to support their high trading volume, OKEx continues to build what they deem as the ‘next-gen financial ecosystem. The OKEx exchange market provides traders with standard crypto-to-crypto trading. Also, the OKEx exchange provides access to over one hundred cryptocurrencies, as well as tokens.

Author: Helen Partz