OKX (formerly OKEx) is a leading global cryptocurrency exchange with comprehensive trading rules designed to ensure fairness, security, and efficiency for digital asset transactions. Below is a detailed breakdown of its core regulations and operational frameworks:
1. Account Requirements
- Identity Verification: Users must complete KYC (Know Your Customer) authentication to access full trading features, including spot, margin, and derivatives trading.
- Security Protocols: Two-factor authentication (2FA), withdrawal whitelist, and anti-phishing measures are mandatory to prevent unauthorized access.
2. Order Types and Execution
OKX employs an order-matching system supporting:
- Limit Orders: Set specific buy/sell prices; executed only when the market reaches the designated price.
- Market Orders: Instant execution at the best available market price.
- Stop-Loss/Take-Profit: Automated triggers to manage risk and lock in gains.
3. Trading Pairs and Markets
Supported Markets:
- Spot Trading: Direct cryptocurrency purchases (e.g., BTC/USDT).
- Futures & Perpetual Swaps: Contracts with leverage up to 100x.
- Options: Advanced derivatives for hedging strategies.
- Liquidity Pools: High-volume pairs ensure tight spreads and minimal slippage.
4. Fees and Limits
Fee Structure:
Trade Type Maker Fee Taker Fee Spot Trading 0.08% 0.10% Futures (VIP 0) -0.02% 0.05% - Withdrawal Limits: Tiered based on verification level; higher tiers allow larger daily withdrawals.
5. Risk Management
- Margin Requirements: Varies by asset and leverage level (e.g., 10% initial margin for 10x leverage).
- Liquidation Mechanism: Positions are auto-closed when collateral falls below maintenance margin to prevent negative balances.
- Insurance Fund: Covers losses from extreme volatility events.
6. Prohibited Activities
- Market Manipulation: Wash trading, spoofing, or pump-and-dump schemes are strictly banned.
- Compliance Policies: Adherence to global AML/CFT standards; suspicious transactions are flagged and investigated.
7. Platform Security
- Cold Storage: 95%+ user assets stored offline in multisig wallets.
- Penetration Testing: Regular audits by cybersecurity firms like SlowMist.
FAQs
Q: How long does KYC verification take on OKX?
A: Typically 1–3 business days, depending on document quality and volume.
Q: Can I trade without KYC?
A: Basic features (e.g., spot trading under 2 BTC/day) are available, but withdrawals and derivatives require full verification.
Q: What happens if my position is liquidated?
A: The system closes it at bankruptcy price, and any remaining debt is covered by the Insurance Fund.
Q: Are there discounts for high-volume traders?
A: Yes, OKX offers fee rebates and VIP tiers for users with 30-day trading volumes exceeding $10M.
👉 Maximize your trading potential with OKX’s advanced tools
By understanding these rules, traders can optimize their strategies while mitigating risks. OKX’s robust framework balances flexibility with stringent safeguards, making it a preferred choice for both retail and institutional investors. Always review the latest official documentation for updates.