OKEx hosts 150K USDT Elite trading competition to mark Unified Account integration

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VICTORIA, Seychelles, Dec. 15, 2020 /PRNewswire/ -- OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce a 150K USDT Elite trading competition from 10:00 am UTC on Dec. 14 to 10:00 am UTC on Dec. 17 to mark the integration of the Unified Account feature into the OKEx platform. Traders can participate in Demo Trading with the Unified Account in two ways: either by becoming a captain and recruiting team members to trade during the competition, or by signing up to join their favorite team. 

Each team must have a minimum of 10 members, and winners will be ranked by both their individual trading revenue and the total team revenue at the end of the contest. In addition to generous USDT prizes, participants can test drive the new features of the Unified Account, trading futures, perpetual swaps, options, spot and margin.

OKEx's new Unified Account feature offers users a more seamless and efficient trading experience with three modes to facilitate trading on the platform:

• Simple account mode
• Single-currency margin mode
• Multi-currency margin mode

Users can select from the different modes available under the Unified Account feature according to the option that best suits their needs. Under the simple account, users can trade on the spot market and buy options contracts. For spot leveraged, perpetual swaps and futures, or to sell options contracts, users will need to select one of the other two Unified Account modes, which grant them more flexibility. Traders on the OKEx platform can now, for example, choose to use cross-margin or isolated-margin with open positions, allowing them to offset their gains and losses against each other during risk calculation.

"We're extremely pleased to have completed the integration of Unified Account into the OKEx platform. We pride ourselves on taking user feedback on-board to improve our existing services. Through Unified Account, not only are settlements of derivatives faster, allowing users to realize their profits instantly, but funds are no longer segregated into different accounts and are therefore easier to manage. We're also confident that traders will benefit greatly from the ability to spread their margin across different derivative accounts and maximizing capital utilization," said OKEx CEO Jay Hao, adding:

"The Elite Demo Trading competition is an excellent opportunity to test out the features of the new integration while compensating traders generously and giving them a chance to improve their trading skills in a demo environment."

All participants in the Elite trading competition are required to pass account verification Level 2 and register a cumulative trading time of at least four days during the competition. For full details of the competition rules, captain recruitment and team formation, please see the competition recruitment page here. For further information about Unified Account and a useful tutorial, please visit the OKEx Academy here.

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About OKEx

A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.

SOURCE OKEx