How to play Dubai OKX contracts

To trade OKX contracts in Dubai, traders must first create an account, verify their identity, deposit funds, choose a contract, place an order, monitor their position, and withdraw their funds through the exchange's online platform.

Oct 21, 2024 at 08:30 am

How to Play Dubai OKX Contracts

1. Create an OKX Account

To begin trading OKX contracts in Dubai, you must create an account on the OKX exchange. Visit the OKX website and click on "Sign Up" to create an account. You will need to provide your email address and create a password.

2. Verify Your Identity

Once you have created an account, you need to verify your identity to comply with OKX's anti-money laundering and know-your-customer (KYC) regulations. Click on the "Verify" button in the account settings and follow the instructions to provide the necessary documentation.

3. Deposit Funds

To fund your OKX account, you can deposit cryptocurrencies or fiat currencies. To deposit crypto, click on the "Deposit" button and select the desired cryptocurrency. You will then be given a wallet address to which you can send your funds. To deposit fiat currency, click on the "Buy Crypto" button and follow the instructions to purchase crypto with your credit card or bank transfer.

4. Choose a Contract

OKX offers a wide range of contract types, including futures, options, and swaps. To choose a contract, click on the "Contracts" tab in the top menu and select the desired market. You can filter the contracts by asset, expiry date, and type.

5. Place an Order

To place an order, click on the "Order" button and select the desired order type. You can choose from market orders, limit orders, and stop orders. Fill in the order quantity, price, and order type, then click on the "Place Order" button.

6. Monitor Your Position

Once you have placed an order, you can monitor your position in the "Positions" tab. Here, you can see the current market price of the contract, your profit/loss, and your margin usage. You can also close your position at any time by clicking on the "Close" button.

7. Withdraw Your Funds

When you are finished trading, you can withdraw your funds by clicking on the "Withdraw" button in the account settings. Select the desired cryptocurrency and enter the amount you wish to withdraw. You will then be given a wallet address to which you can send your funds.