With low exchange costs. How To Trade Futures On Okx … With an account at, you can quickly buy crypto utilizing a card, savings account, or mobile wallet. It also provides incredibly high yields in many cases when participating in staking or saving features.
was founded in 2017 and maintains a head office in Seychelles, with extra offices all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The website claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance issues.
If you’re in a location that deals with OKX, you can create an account that gives you access to trade 343 area currencies.
Supports margin borrowing, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. could work as an exchange you use in addition to a third-party cryptocurrency wallet or your main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient room to list them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various prices tiers that vary based on trade volume and account holdings. For spot trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may get approved for discount rates. Futures, swaps, and choices have their own rate schedules with varying fees.
One big drawback of is that it does not reveal charges for withdrawals and deposits. While much of is transparent, surprise expense information are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so constantly double-check deal details prior to continuing. If you mistakenly send funds to the incorrect wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some distinct security issues you don’t typically face with conventional banking platforms. However, the very best practices for keeping your financial accounts safe are comparable. These include utilizing strong passwords unique to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for many customer possessions. It also has offers extra functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody outside of the United States. You will find a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished to buy apecoin at this level put our stop loss down at this level meaning that if we’re wrong and it continues moving down we’re selling our position which we wish to take profit at this level what we want to do is discover the difference in between these values and that’s going to provide us.057 then we’re going to take the dollar quantity danger we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the How To Trade Futures On Okx
difference in between the entry and the stop okay and that’s going to provide us the quantity of tokens that we require to buy in order to run the risk of only 10 dollars okay if we’re just sharing 250 coins or a thousand coins we’re never going to be able to call in our risk reward and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you need to have actually that set dollar quantity fine so that suggests that in order to discover the capital requirement or the amount of money that we need for this trade we have to take the quantity of coins and multiply it by the entry rate which is this level here fine so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to provide us 587 dollars then we need to be able to enter this position when we’re using take advantage of the only thing it’s changing is how much cash we personally require to put into the trade so if I have a hundred dollar account and I use a 100x take advantage of that suggests now I have ten thousand dollars to utilize okay because if we just had a hundred dollar account alright this 587 is currently 5x the size of our money worth of our account that makes it difficult alright so let’s visit purchase bit here let’s state we wish to take this ape trade here alright we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what takes place when we open our utilize all right and you’re gon na get this caution that the liquidation is high fine as long as you’re quantifying you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the right thing alright so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account alright so this leverage capability is altering nothing about the risk profile on the trade fine if you plan on trading anyways utilize the recommendation Link in the description all right every week we do a giveaway where anyone trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars weekly we’re selecting three winners a week okay we’re trying to provide the fees that we’re gathering from the affiliate program back into the community for you guys trading with us connect is listed below you can take a look at our Discord where we reveal the winners alright prior to we hop into the trading system that you can use to begin taking these trades I want to review the guidelines that I would advise utilizing when growing a small account okay so the first guideline is start with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account usage that ten dollar threat fine each time you double the account so when you go to 100 approximately 200 alright you wish to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and use that there until we scale our account up a bit bigger the third thing and this is super crucial is everyone has a mental threshold when it concerns how much cash they’re comfortable running the risk of if I’m taking a look at losing 500 like this 500 500 where I lose 3 trades in a row I don’t care who you are or what the mathematics says you’re going to begin feeling a little bit psychological about the trades which’s something that you actually want to prevent till you come comfortable doing that alright so state you work your way as much as 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade which’s too much for you fine you can stroll that back down to fifty dollars per trade choice that repaired amount when you want to protect your capital and simply choose an objective each day on
the cash that you wish to make as soon as you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you know I like to make three that three to 5 thousand dollars per week so I’m using you learn about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you understand a couple years from now move up to a thousand try to make three to 5 thousand per trade and try to double my earnings alright so let’s enter the bread and butter of the real trading this is a system that I’ve been trading the marketplaces with for the past couple months that have definitely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was actually in Dubai all right but what I want to do is find an area where I have a freshly developed uptrend first thing that I wish to do is determine my wave count alright so if this is our beginning
first pullback is 2 largest waves up to 3 pullback is 4 and after that the high is five and the way we can look for the top of five is by utilizing a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click here click back here and after that discover my element of one and you can see the rate action sort of Consolidated right along this level if we take a Fibonacci retracement off of this level and increase to the high of one if our cost action boils down through