OKX, a leading global cryptocurrency exchange, has announced the discontinuation of its Quick Margin trading mode effective January 1, 2025. This strategic decision aims to bolster trading stability and streamline margin trading processes on the platform.
User Transition Details
For users with no outstanding Quick Margin positions, OKX will automatically cancel all open Quick Margin orders and transfer related crypto assets back to their trading accounts. These positions will be closed by January 1, 2025.
Users with unsettled Quick Margin liabilities are advised to resolve them by January 10, 2025, to avoid potential losses. Once all liabilities are settled, remaining crypto assets can be withdrawn, and positions will be closed.
Transition to Isolated Margin Mode
Post-discontinuation, all user accounts will transition to an auto-conversion system within the Isolated Margin trading framework. This system enhances fund management, segregates margin assets, and mitigates risks associated with cross-collateralized positions.
👉 OKX ensures users can still borrow crypto via Spot Trading, which offers similar functionalities to Quick Margin but with reduced risk exposure.
Platform Stability Enhancements
This update reflects OKX’s ongoing commitment to improving security and stability. By phasing out Quick Margin, OKX aims to optimize its trading offerings, delivering a more reliable and efficient experience.
User Support and Guidance
OKX urges users to review their accounts promptly and address outstanding liabilities to avoid disruptions. The platform will provide clear guidelines and dedicated support to facilitate a smooth transition.
For further details, users can refer to OKX’s official announcement or contact customer support.
As the crypto market evolves, exchanges like OKX adapt their offerings to user needs while maintaining robust trading infrastructures.
Previously, OKX introduced its AI-powered Smart Sync feature to enhance the Spot Copy Trading tool.
FAQ Section
1. Why is OKX discontinuing Quick Margin?
OKX is prioritizing trading stability and risk management. The shift to Isolated Margin reduces cross-position risks and simplifies margin processes.
2. What happens to my active Quick Margin positions?
Positions without liabilities will be auto-closed by January 1, 2025. Settle any dues by January 10 to withdraw remaining assets.
3. Can I still trade with margin on OKX?
Yes! 👉 Isolated Margin and Spot Trading offer similar functionalities with enhanced safety measures.
4. How do I check my Quick Margin liabilities?
Log in to your OKX account and navigate to the Margin section for a full overview of your positions.
5. Will OKX support users during this transition?
Absolutely. OKX provides step-by-step guides and 24/7 customer support to assist users.
6. Are there alternatives to Quick Margin?
Explore Isolated Margin for controlled risk or Spot Trading for leveraged opportunities without cross-collateralization.