The digital asset trading landscape has evolved rapidly over the past decade, and platforms like OKX—formerly known as OKEx—have played a pivotal role in shaping how users interact with cryptocurrencies. With its rebranding and the introduction of a unified trading account system, OKX has streamlined the user experience, making it more intuitive, secure, and efficient for both beginners and advanced traders.
This article explores how to trade on OKX, the significance of its rebranding to "欧易" (Ouyi), and the powerful features behind its unified account architecture—particularly its cross-margin mechanisms, multi-product support, and risk management tools.
The Rebranding: From OKEx to OKX and "Ouyi"
In recent years, OKEx officially transitioned to OKX, reflecting a broader vision beyond just exchange services. The platform also adopted the Chinese name 欧易 (Ouyi), which translates to "European Ease" or "Ease of Exchange," emphasizing simplicity and global accessibility.
While the name change might seem cosmetic, it represents a strategic shift toward becoming a comprehensive Web3 ecosystem offering trading, earning, NFTs, DeFi integrations, and more. This evolution aligns with industry trends where leading platforms expand beyond spot trading into holistic financial ecosystems.
What Is the Unified Trading Account?
At the heart of OKX’s innovation is the Unified Trading Account (UTA)—a next-generation account structure that consolidates all trading activities under one roof. Before UTA, users had to manage separate wallets for spot, futures, margin, and options trading, often requiring manual fund transfers between isolated accounts.
Now, with UTA:
- All assets are centrally managed.
- Funds are automatically allocated across different products.
- Risk exposure is easier to monitor.
- Trading efficiency improves significantly.
This design eliminates friction caused by fragmented accounts and enables real-time cross-product hedging—a critical advantage for active traders.
Key Benefits of the Unified Account System
1. Cross-Currency Margin Sharing
One of the most powerful features of the unified account is cross-currency margin. Instead of locking funds in a single currency (like USDT), users can use multiple cryptocurrencies as collateral. The system calculates total portfolio value in USD-denominated terms, allowing for better capital utilization.
For example:
- You hold BTC, ETH, and SOL.
- These assets collectively serve as margin for your perpetual contracts.
- If BTC drops but ETH rises, your overall position remains more stable.
This diversification reduces liquidation risks and enhances safety margins.
2. Full Portfolio Risk Management
With UTA, OKX evaluates your entire portfolio’s health in real time. Rather than assessing each contract or trade in isolation, the system looks at net exposure across all positions.
This holistic approach helps prevent unnecessary liquidations during market volatility—especially useful when managing complex strategies involving multiple derivatives.
3. Simplified Trading Workflow
Gone are the days of transferring funds between spot and futures accounts before every trade. Now:
- Open a BTC/USDT perpetual position.
- Simultaneously enter an ETH quarterly futures contract.
- No fund transfers needed—both use shared collateral.
This seamless integration boosts trading speed and reduces operational errors.
How to Start Trading on OKX
Getting started with OKX involves a few straightforward steps:
- Register an Account
Visit the official OKX website and complete registration using email or phone number. - Complete Identity Verification (KYC)
To access advanced features like derivatives trading or higher withdrawal limits, verify your identity through the KYC process. - Deposit Funds
Deposit either fiat currency (via supported payment methods) or crypto assets directly into your unified account. Choose Your Trading Product
Navigate to:- Spot Trading
- Perpetual Contracts
- Options
- Earn Products (e.g., staking, lending)
- Begin Trading
Use built-in tools like charting, order types (limit, market, stop-loss), and risk calculators to execute informed trades.
👉 Learn how to optimize your trading strategy using OKX’s advanced tools and analytics.
Understanding Liquidation vs. Position Closure
A common point of confusion among new traders is the difference between liquidation and manual position closure.
- Liquidation: Occurs when your margin falls below the maintenance threshold due to adverse price movements. The system forcibly closes your position to prevent further losses.
- Position Closure: A voluntary action where you close your trade manually to lock in profits or cut losses.
For example:
Suppose you go long on BTC with 10x leverage. If BTC’s price drops sharply and your equity can’t cover required margin, your position will be liquidated automatically.
Using the unified account’s risk monitoring dashboard, you can track your liquidation price in real time and adjust positions accordingly.
Security and Trust: Learning from Past Challenges
In late 2020, OKX faced a temporary suspension of withdrawals due to internal management issues—a moment that tested user trust. However, the platform responded transparently, resumed operations within weeks, and strengthened its security protocols.
Today, OKX employs:
- Cold wallet storage for over 98% of user funds
- Multi-signature authentication
- Regular third-party audits
- A Secure Asset Fund for Users (SAFU)
These measures reinforce confidence in the platform's resilience and long-term viability.
FAQ Section
Q: Why did OKEx change its name to OKX?
A: The rebranding reflects a shift from being just an exchange to a full-service Web3 platform offering trading, finance, NFTs, and more. "OKX" symbolizes expansion beyond traditional boundaries.
Q: Can I still access my old OKEx account after the rebranding?
A: Yes. All existing accounts were migrated seamlessly to the OKX platform. No action was required from users.
Q: Does the unified account support all trading products?
A: Yes. It integrates spot, futures, options, margin, and DeFi-based earning products under one interface.
Q: Is cross-currency margin available for all users?
A: Yes, once you enable the unified account, cross-margin functionality becomes available across eligible assets.
Q: How does OKX handle NFT transactions?
A: Every NFT trade on OKX is recorded on-chain via blockchain verification, ensuring authenticity and immutability.
Q: Can I use APIs with the unified account?
A: Absolutely. The V5 API supports unified account functions, enabling developers and quants to automate trades across all product lines with a single endpoint.
Final Thoughts: Why OKX Stands Out
OKX has consistently innovated in response to market demands—from launching one of the earliest options markets to pioneering the unified trading account model. Its focus on user experience, capital efficiency, and security makes it a top choice for traders worldwide.
Whether you're interested in high-leverage derivatives or passive income through crypto lending, OKX provides a robust infrastructure backed by years of operational excellence.
By embracing change and prioritizing user needs, OKX continues to lead in an ever-evolving digital asset ecosystem. As the industry moves toward greater decentralization and interoperability, platforms like OKX are not just adapting—they’re driving the future forward.
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