Dubai OKX How to operate APP leverage

To leverage on the Dubai OKX app, traders must register, verify their identity, enable margin trading, calculate leverage, select margin trading mode, open leveraged positions, monitor their positions, and ultimately close their positions to withdraw funds.

Oct 28, 2024 at 10:38 am

How to Operate App Leverage on Dubai OKX

1. Register and Log In

• Download the Dubai OKX app and create an account.
• Verify your identity by completing the KYC process.

2. Fund Your Account

• Transfer funds to your OKX account using supported payment methods such as bank transfer or cryptocurrency.

3. Enable Margin Trading

• Go to "Settings" and enable "Margin Trading."
• Select "Apply for Margin Account" and submit your application.

4. Calculate Leverage

• Determine the amount of leverage you wish to use.
• OKX supports leverage options of up to 100x.

5. Choose Margin Trading Mode

• Select between "Cross Margin" (risk allocation across all open positions) and "Isolated Margin" (risk allocation limited to individual positions).

6. Open a Leveraged Position

• Go to "Trading" and select the instrument you wish to trade.
• Enter the trade details (e.g., order type, quantity, price) and select the "Margin Trading" option.
• Specify the leverage amount.

7. Monitor Your Position

• You can view your open positions, profit and loss, and margin requirements in the "Positions" section.
• Monitor the market and adjust your position accordingly to manage risk.

8. Close Your Position

• Once you have achieved your desired profit or wish to exit the position, close your trade by placing an opposite order (e.g., sell to close a buy position).

9. Withdraw Funds

• After closing all leveraged positions, transfer your funds back to your spot wallet.
• Withdraw the funds using your preferred payment method.

Important Notes:

• Leveraged trading involves high risk and should only be undertaken by experienced traders.
• The amount of leverage you use can magnify both profits and losses.
• Margin requirements may vary depending on the instrument and market conditions.
• It is essential to understand the risks involved before engaging in margin trading.