How to trade in Dubai OKX trading account

To initiate trading on OKX in Dubai, it is crucial to first establish a trading account by providing personal details and completing the Know Your Customer (KYC) verification process.

Oct 19, 2024 at 09:30 am

How to Trade on OKX in Dubai

1. Create an OKX Trading Account

• Visit the OKX website: https://www.okx.com
• Click "Sign Up" and fill in the required details: email, phone number, and password.
• Complete the KYC (Know Your Customer) verification process by submitting your ID and proof of residence.

2. Fund Your Account

• Log into your OKX account and navigate to "Assets" > "Deposit."
• Select your preferred deposit method (e.g., bank transfer, credit/debit card, cryptocurrency).
• Follow the instructions to initiate the deposit process.

3. Choose a Trading Pair

• In the "Markets" section, select the desired trading pair (e.g., BTC/USDT).
• The "Buy/Sell" tab will appear on the trading screen.

4. Place an Order

• Spot Order:

  • Select "Spot" under the "Type" tab.
  • Specify the order type (Market, Limit, Stop-Limit).
  • Enter the amount and price of the order.

• Margin Order:

  • Select "Margin" under the "Type" tab.
  • Specify the leverage multiplier (2x, 5x, 10x).
  • Enter the amount and price of the order.

5. Monitor Your Order

• The order book on the trading screen displays the current buy and sell orders.
• You can track the status of your order by navigating to "Orders" > "Current Orders."

6. Close Your Position

• Once you wish to exit your trade, click "Close" on the order tab.
• Enter the amount or percentage of the position you want to close.
• Confirm the closing details and execute the order.

Additional Considerations

• Trading Fees: OKX charges trading fees for both spot and margin trading.
• Trading Limits: OKX may impose trading limits based on your account level.
• Security: Ensure you secure your account with strong passwords and two-factor authentication (2FA).
• Customer Support: OKX provides 24/7 customer support via live chat or email.