Market orders enable you to buy or sell at the best available price. The market maker does not provide liquidity in this type of trade and is obligated to fulfill it as soon as possible. A stop loss can also be applied on OkEx to all trades executed with this option for risk management purposes. If your stop loss level is reached during trading, it automatically executes a sale/buy transaction so you do not sustain any losses. If you want to buy or trade cryptocurrencies then you will need to signup with one or more crypto exchanges. The signup process takes just a few minutes but typically you will need to verify your identity before you can use all the features of the exchange. Although the education section is limited, there are helpful articles on various topics, including API investing and dollar-cost averaging.
Perpetual swaps incur a funding fee at designated times on OKX to keep the price of the perpetual market anchored to the spot index price. Investors can look at historical funding rates to get an indication of the amount. All contents on this site is for informational purposes only and does not constitute financial advice. Consult relevant financial professionals in your country of residence to get personalised advice before you make any trading or investing decisions. Daytrading.com may receive compensation from the brands or services mentioned on this website. New clients will have to submit basic contact information and may need to prove their identity before they can start buying and selling cryptocurrencies. OKX offers nine different live accounts depending on your needs.
Cons Of OKX
Neither does eToro, but the good thing about using the FCA-approved broker is that eToro lets you learn from more experienced traders with its CopyTrade feature. For newbies looking to get the hang of day trading, this https://www.tokenexus.com/ feature is beyond essential. EToro is another platform that allows traders and investors to make bets and possibly earn returns. However, while OKEx focuses exclusively on cryptocurrencies, eToro has a broader scope.
- OKEx offers the OKEx Wallet – a multi-currency digital wallet that allows you to store assets and ERC20 tokens.
- All the exchanges listed are part of the safest places to buy Shiba Inu.
- We offer full crypto trading, a NFT marketplace, full Web3 wallet, Staking, DeFi and much more.
- OKX’s crypto offering is split into the spot, margin and derivatives markets .
- Featuring is MakerDAO, USDC, USDT, TUSD, ETH, BTC, and others.
Instead, it is better to transfer your currencies to a “cold wallet” which is not connected to the internet. This kind of offline wallet will keep your coins safe by making them inaccessible through online networks. Another risk tied to using crypto exchanges is the fact that you cannot actually control your coins until they are withdrawn to your wallet or bank account . Even though you can let your coins okex review sit in the exchange for as long as you’d like, this is not a very good idea. The main reason behind this is that you don’t actually have the coins in your custody before you withdraw them. After buying some crypto, you can either keep it on your account or withdraw it to a “safer location”. You can choose to make a withdrawal either to your bank account if fiat or to another crypto wallet if crypto.
Security and license risk for significant versions
OKEx offers users a trading experience while on the go through its mobile app. The OKEx mobile app is available to download on the Google Play Store for Android and the Apple App Store for iOS devices. With OKEx, you can start with a minimum deposit of just £7.25, making it easy for you to gain exposure to cryptocurrencies with little capital. And you don’t necessarily need to supply all your details before you can get started. But OKEx will reduce your deposit and withdrawal amounts until you complete your KYC process. The exchange currently offers trading in over 240 different cryptocurrencies, which can be traded against Bitcoin, Ether, XRP, Tether, EOS, Litecoin, and Bitcoin Cash.