With low exchange fees. Okx Demo Trading … With an account at, you can quickly purchase crypto using a card, bank account, or mobile wallet. When taking part in staking or saving functions, it likewise provides remarkably high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with extra offices all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance issues.
You can develop an account that offers you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. might work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your main location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to list them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different rates tiers that vary based on trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might get approved for discounts. Swaps, options, and futures have their own rate schedules with differing charges.
One huge disadvantage of is that it doesn’t divulge costs for deposits and withdrawals. While much of is transparent, concealed cost details are a warning that may send you to another exchange with transparent fee schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check transaction details before continuing. If you inadvertently send out funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some special security concerns you don’t typically confront with conventional banking platforms. Nevertheless, the very best practices for keeping your financial accounts protected are comparable. These include utilizing strong passwords distinct to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for most customer properties. It likewise has deals extra functions like the capability 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. If you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
wanted to buy apecoin at this level put our stop loss down at this level significance that if we’re wrong and it continues moving down we’re selling our position which we want to take earnings at this level what we wish to do is find the difference between these values and that’s going to offer us.057 then we’re going to take the dollar amount danger we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Demo Trading
difference between the entry and the stop all right and that’s going to offer us the quantity of tokens that we need to purchase in order to run the risk of just ten dollars fine if we’re simply going in with 250 coins or a thousand coins we’re never ever going to have the ability to call in our risk reward and you’re going to definitely screw yourself so ensure that you’re not doing that you require to have that set dollar quantity all right so that indicates that in order to discover the capital requirement or the quantity of money that we require for this trade we have to take the amount of coins and multiply it by the entry cost which is this level here fine so in this case we’re going to take 175 coins increased by 3.35 which’s going to provide us 587 dollars then we require to be able to enter this position when we’re using utilize the only thing it’s changing is just how much cash we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that means now I have 10 thousand dollars to use alright since if we only had a hundred dollar account okay this 587 is already 5x the size of our cash worth of our account that makes it impossible alright so let’s go over to purchase bit here let’s say we want 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 up our take advantage of fine and you’re gon na get this warning that the liquidation is high all right as long as you’re measuring you’re entering your exit and you’re risking that ten 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 all right so this leverage ability is changing nothing about the danger profile on the trade all right if you plan on trading anyways utilize the referral Link in the description fine every week we do a free gift where anybody trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars per week we’re picking three winners a week okay we’re attempting to give the fees that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us connect is below you can check out our Discord where we reveal the winners all right prior to we hop into the trading system that you can utilize to begin taking these trades I wish to review the guidelines that I would recommend utilizing when growing a little account all right so the very first guideline is start with the dollar amount threat per trade 10 of starting balance on a hundred dollar account usage that 10 dollar risk okay each time you double the account so when you go to 100 up to 200 fine you want to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and use that there till we scale our account up a bit larger the 3rd thing and this is incredibly crucial is everybody has a psychological threshold when it pertains to how much cash they’re comfortable running the risk of if I’m looking at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the mathematics says you’re going to start feeling a little bit emotional about the trades which’s something that you really wish to prevent until you come comfortable doing that okay so state you work your way approximately 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you all right you can walk that pull back to fifty dollars per trade choice that repaired amount when you want to maintain your capital and simply pick an objective per day on
the money that you wish to make as soon as you get up to a comfortable limit where it’s fitting your income goals so for me personally you understand I like to make 3 that 3 to five thousand dollars each week so I’m utilizing you know about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and then I’ll increase it you know a couple years from now go up to a thousand shot to make three to 5 thousand per trade and attempt to double my earnings all right so let’s get into the bread and butter of the actual 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 show you one of the setups that I had on xrp when I was really in Dubai fine but what I want to do is discover an area where I have a newly developed uptrend first thing that I want to do is determine my wave count okay so if this is our start
very first pullback is 2 largest waves up to 3 pullback is 4 and after that the high is five and the method 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 value I’m gon na click here click back here and then discover my aspect of one and you can see the price 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 comes down through