What is OKX?
OKX exchange is one of the largest cryptocurrency exchanges. Being released in 2014, it was initially called OKCoin and provided services only in the domestic market of China, while the site was registered in California. In 2017, the company changed its head office, moving to Hong Kong, and also rebranded, changing its name to the familiar OKX. The company was prompted to reorganize by the active struggle of the SEC with crypto exchanges, which provided the opportunity to trade derivatives. In 2019, the crypto exchange issued the OKX cryptocurrency — the OKB token.
Trading bot for OKX
With the help of
revenuebot users can conduct automated trading on the exchange OKX exchange.
Automated trading can be done with an OKX trading bot built for the exchange. Using
revenuebot, automated trading is available for classic OKX Spot, as well as trading perpetual futures contracts (perpetual swaps) OKX Futures. Thanks to the variety of settings available, the user of the service can create an effective trading bot and start trading in a short period of time.
OKX Futures and Spot fees
OKX fees depend on two factors: the number of OKBs on the account (OKX cryptocurrency, native token) and the monthly trading volume. Up to a trading volume of 1000 BTC, OKX transaction fees depend only on the number of tokens on the account and are 0.1% for the maker and 0.15% for the taker at the initial stage and can go down to 0.06% for the maker and 0.08% for the taker. After overcoming the volume of 1000 BTC, OKX fees can drop down to 0.01% for the maker and 0.03% for the taker.
OKX futures trading is about the same as spot trading. The initial OKX transaction fees for the maker are 0.020%, and for the taker, it is 0.050%. As the trading volume and OKB tokens on the account increase, OKX fees may drop to 0.015% for the maker and up to 0.0305 for the taker. More details about OKX transaction fees can be found in the screenshots below.
What is OKX VIP program
The level of OKX fees is also affected by the user's VIP status. Find out more about its benefits below.
You can become a VIP client of OKX exchange by fulfilling one of four conditions, which are shown in the table below:
An OKX user only needs to have the required trading volume in one of the trading directions. What will you get at OKX if you sign up for the VIP program?
Account upgrade to VIP-3 and higher
Reduced OKX fees
Personal support by VIP-managers 24/7
Large withdrawal limits with minimum KYC
Prompt resolution of all issues related to connection, registration of corporate accounts and the passage of KYC / AML procedures
Personalized API customization (relocation, credit line and other services)
Invitations to private clubs and online events
Also, check out current offers for the OKX signup bonus. OKX bot trading can become even more lucrative for VIP clients because they pay lower trading commissions than regular clients. The two screenshots below show the OKX fees for spot and futures trading that a VIP client pays:
How trading bots worked their way into the market
According to statistics, about 70% of transactions in the stock market are made using various bots. And given that the crypto market mainly adopts practices from traditional ones, there is no doubt that the percentage here is not less. Why are traders less likely to trade themselves and trust an OKX trading bot to do it? There are several reasons for using a trading bot on OKX or other exchanges:
The software or an OKX bot has no human factor.A trader can make a mistake when filling out an order, forget to close it or do something else. A software or an OKX bot trades only according to the settings that were originally included in it, so the possibility of errors or inaccuracies is excluded.
Speed of the whole processA trader cannot analyze several trading pairs or markets at the same time. In addition, you will have to open many trades. Bots do a great job with all these tasks.
Versatility and scalabilityHaving a clear trading strategy, you can run many bots for simultaneous automatic trading on different crypto-exchanges and trading pairs.
Trading will be carried out at any time of the dayAn OKX trading bot does not need time to sleep and rest, so it can trade around the clock, making a profit for the owner.
TRADE ON OKX EXCHANGE WITH REVENUEBOT
We have been on the market since 2018 and have carefully worked out all the features of working with the OKX exchange over the entire period of our existence. Since August 2021, we have been an official partner of and have been participating in the broker program of the OKX exchange.
Advantages of using a trading bot on OKX by REVENUEBOT, in comparison with other trading bots
- Variety in the functionality and settings of the OKX bot, which allows you to implement many trading strategies:
Smart order safety gridallows you to create efficient DCA bots for the OKX exchange with LONG and SHORT algorithms using an averaging strategy.
The automatic switching of the bot's trading pairsignificantly increases the number of profitable trades. Using the volatility analyzer developed by us for the OKX exchange, the bot can automatically select the best trading pair in terms of volatility at the moment so as not to be idle.
Using TradingView signalsas a condition for starting an OKX bot trading on the OKX exchange allows you to implement strategies based on a variety of trading indicators.
Bot simulation modewill show how the OKX trading bot you created would trade in the last 60 days (the time and date of the start of the simulation can be set in the settings). We keep a history of price changes for all trading pairs on the OKX exchange for the last 60 days. All tests will be carried out on the chart of your chosen trading pair, for a specified period of time. This will allow you to verify that your settings are correct or to identify inaccuracies.
The automatic reversal of algorithmswill allow you to implement a risk hedging strategy when trading on the OKX exchange. At the moment when the price goes in the wrong direction, the second bot will be automatically connected, which has the opposite algorithm.
- Any OKX trading bot is free if it does not generate an income. The commission for using the service begins to be charged only from the moment the OKX bot makes a profit. The commission is 20% of the profit received, but not more than 50 USD per month.
- The user does not need to keep their computer turned on 24/7 because OKX bot functions from the cloud storage. OKX bots trade around the clock on a global level.
- We have a marketplace where you can buy a ready-made bot configuration, sell a profitable one and get additional income, as well as purchase a mentoring service from an experienced user. This helps users to start at any moment: there is no need to build a bot for trading on OKX, one can choose the right one and start earning. Needless to say, you can also create the best trading bot for OKX from scratch by configuring settings.
- To get the most out of trading on OKX, sign up for a referral program through which clients of the service receive an income without even starting a trade