How to close Dubai OKX contract transactions

To close contract transactions on OKX, log in to your account, navigate to the "Contracts" page, select the contract, click "Close," confirm the closing price, and click "Close" again.

Oct 26, 2024 at 10:40 pm

How to Close Dubai OKX Contract Transactions

Closing contract transactions on OKX is a simple process that can be completed in a few steps.

1. Log in to your OKX account.
2. Go to the "Contracts" page.
3. Select the contract you want to close.
4. Click on the "Close" button.
5. Confirm the closing price.
6. Click on the "Close" button again.

Your contract transaction will now be closed. The proceeds from the sale of the contract will be credited to your OKX account.

Additional Information

• You can close a contract transaction at any time before the expiration date.
• If you close a contract transaction before the expiration date, you will receive the difference between the closing price and the contract price.
• If you close a contract transaction after the expiration date, you will lose the entire value of the contract.

• You can close a contract transaction in two ways:

  • Market close: This will close the contract at the current market price.
  • Limit close: This will close the contract at a specified price.

Example

Let's say you have bought a BTC/USD contract with a contract price of $10,000. The current market price of BTC/USD is $10,500. If you close the contract with a market close, you will receive $10,500. If you close the contract with a limit close at $10,200, you will receive $10,200.