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Friday, July 19, 2024

Brief Review of OKEx Exchange for New Users

When you step into the crypto space, one of the popular names you are likely to come across is OKEx exchange. This crypto exchange is based in Malta and was established in 2017. Since then, the exchange has made its mark in the industry by offering some of the best and impressive features and services to the users.

There are several major selling points of the exchange every user needs to know before they start using it. This is a good practice to follow, regardless of how popular is the platform. Every crypto investor and trader needs to be sure that the exchange they choose is according to their needs and criteria. To make the right decision, it is important for people to explore as much as possible about an exchange before they choose it.

Similarly, people who are interested in using the OKEx exchange need to know what this platform has to offer so they can make an informed decision. This brief review sheds light on some of the top features of the platform.

OKEx is a User-friendly Exchange

The user experience offered by an exchange is one of the attributes you need to explore before you start using it. The user interface of an exchange can help you determine if it is suitable for novice parties to use or not.

This is because some of the crypto exchanges in the market are developed to specifically facilitate the experts. While this crypto exchange caters the needs of a vast number of crypto traders, it aims to make sure that the features and services are offered to experienced and inexperienced traders alike.

This OKEx exchange review specifies that this exchange has a user-friendly interface that makes it ideal for not only professional traders but for new ones as well. There are several high-end features such as trading panel, trading chart view and more that are easily accessible to all users.

Users Can Trade with Leverage

OKEx platform is a technologically advanced cryptocurrency exchange that supports features such as leverage trading. This is a well-known type of trading and many crypto traders look for platforms that support it.

Trading with leverage basically allows the traders to borrow funds from brokers, where the borrowed amount is called leverage. Because of the borrowed funds, the traders are able to open bigger trading positions. Now, depending on how the trade goes, leverage traders can either get high profits or high losses.

Leverage trading is a highly risky venture and requires the users to be familiar with the concept before they begin. It is also crucial for leverage traders to know that different exchanges offer different leverage ratios.

This OKEx review specifies that the platform not only supports leverage trading but offers one of the highest leverages, which is up to 100x.

How Much Fee Has to be Paid?

OKEx is known for various features it offers to the users, one of which is its low and transparent fee. This is one of the attributes you need to look for in an exchange before you use it because some platforms charge a high fee and include hidden charge as well.

However, OKEx fees is not only low but also free of any kind of charges that are not disclosed beforehand. The trading fee charged by the platform is different for market makers and takers, as is followed by most platforms.

The trading fee for market takers is based on a tier system, according to which the fee for spot trading is 0.15%. This further reduces to 0.135% is the spot trading volume is higher than 500 Bitcoin.

For futures trading, the OKEx exchange charges a fee ranging from 0.09% to 0.15% for market takers.

The traders are not required to pay a deposit fee but the withdrawal fee varies from one crypto to another as follows:

  • 0.01 for ETH
  • 0.0005 BTC for Bitcoin
  • 0.15 for Ripple

It is also important to note that the VIP level users of the exchange will be required to pay lower trading fees that ranges from 0.030% to 0.080%.

Is OKEx Available in the USA?

Potential OKEx US customers looking to use the exchange should know that the platform does not extend its services in the States.

The United States of America is known to have strict regulatory laws, which is why several platforms refrain from offering their services to the US residents. Therefore, potential OKEx United States users should look for other platforms that are suitable and available for them to use.

Apart from OKEx USA, other countries not supported by the exchange include:

  • Bolivia
  • North Korea
  • Crimea
  • Hong Kong
  • Ecuador
  • Bangladesh

Conclusion!

OKEx is a well-known crypto exchange that offers a low fee and offers several other impressive features. If you are new to the crypto space you should know the details mentioned above and determine if this is a suitable exchange for you before you start using it.

Uneeb Khan
Uneeb Khan
Uneeb Khan CEO at blogili.com. Have 4 years of experience in the websites field. Uneeb Khan is the premier and most trustworthy informer for technology, telecom, business, auto news, games review in World.

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