How to open leverage on OKX mobile version

To initiate leveraged trading on the OKX mobile app, first ensure you have sufficient funds in your Funding Account and understand the concepts of leverage and margin.

Nov 10, 2024 at 04:03 am

Step 1: Access OKX Mobile App

1. Download the OKX app from the official website or the Google Play Store / Apple App Store.
2. Launch the app and create an OKX account or log in if you have an existing account.
3. Complete the identity verification process to enhance your account security and unlock advanced features.

Step 2: Transfer Funds to Funding Account

1. Leverage trading requires you to have sufficient funds in your Funding Account.
2. Click the "Assets" tab at the bottom of the app screen.
3. Select the "Funding Account" tab and click on "Deposit."
4. Choose the desired crypto asset and copy the deposit address provided.
5. Transfer crypto from your external wallet or exchange account to the OKX Funding Account address.

Step 3: Navigate to the Futures Trading Interface

1. Tap on the "Discover" tab at the bottom of the app screen.
2. Scroll down and select "Futures."
3. Choose the desired trading pair, e.g., USDC Perpetual.
4. The Futures trading interface will display the current market price, order book, and charting tools.

Step 4: Understand Leverage and Margin

1. Leverage amplifies your initial capital by allowing you to trade with borrowed funds, increasing your potential profits and losses.
2. Margin is the collateral you deposit into your Futures account to cover potential losses.
3. The higher the leverage, the lower the margin requirement. However, higher leverage also magnifies potential losses.

Step 5: Set Leverage Ratio

1. Below the order form, locate the "Leverage" field.
2. Select the desired leverage ratio, considering your risk tolerance and market volatility.
3. Options typically range from 1x (no leverage) to 125x (maximum leverage).

Step 6: Place a Leveraged Order

1. Choose the order type (Limit, Market, Stop).
2. Enter the order details, including the order size, price (for Limit orders), and stop price (for Stop orders).
3. Cross-check the order summary, including the total margin required, estimated liquidation price, and potential profit/loss.
4. Click the "Buy/Long" or "Sell/Short" button to place the order.

Step 7: Monitor and Manage Position

1. After placing a leveraged order, closely monitor its performance.
2. The Order History tab under "Futures" displays all open and closed orders.
3. Adjust positions, take profits, or reduce leverage if necessary based on market conditions.

Additional Considerations:

• Leverage trading involves significant risks and can amplify losses.
• Use leverage cautiously and only with a well-defined trading strategy.
• Consider the volatility of the underlying asset before applying leverage.
• Regularly monitor market movements and adjust your positions accordingly.
• Never trade with more than you can afford to lose.