- Which tokens does the GBP market support?
Currently, we support Bitcoin (BTC), Tether (USDT), Ethereum (ETH), and Litecoin (LTC).
- What is order placement?
Order placement is the posting of a trading advertisement on the order book. The poster can choose the order size, transaction limit, price, and modify other settings. The order remains open until it is filled or cancelled.
- Can I open an order in the British Pound market?
To open an order in the British Pound market, you will have to:
- complete KYC level 1 verification and be a designated merchant;
- link your account to a valid UK bank account;
- link your account to a valid mobile number.
- What parameters can I set when opening an order?
You can modify the following settings:
- Order Type: fixed or index
- Fixed price: orders can only be filled according to the price set by the poster.
- Index price: the filling price will be determined by the current market price and the margin set by the poster.
- Unit Price: the price of one token looking to be traded
- Size: the number of tokens looking to be traded
- Single Transaction Limit: the limit for the total amount of a single order
- Time Limit: the time limit for a buyer to complete a payment. Options include 30, 40, or 50 minutes. This parameter is only available to sellers.
- Note: a note or message for the counter party.
Limitations on Opening a Buy/Sell Order
- What are the maximum and minimum limits for the order total amount?
Minimum limit = 0 GBP.
Maximum limit = 100,000 GBP.
- What are the maximum and minimum limits for a single transaction?
Minimum limit = 0GBP.
Maximum limit must be larger than the minimum limit but smaller than the total order amount.
If the fields are left blank, the limit will be defaulted as 0 for minimum and as the total order amount for maximum.
- What is the unit price range that can be deviated for an order?
The unit price range that can be deviated for each token is:
- USDT: ±10%
- BTC: ±20%
- ETH: ±20%
- LTC: ±30%
- Why can’t I see my order in the buy order book?
It may be due to:
- a pause on your order (Try resume in settings);
- the huge deviation of the order price from the index (Try cancel and resubmit);
- the fact that your number of unpaid orders has reached 5 (Try to drop the number ≤2 and your order will reappear).
Buying / Selling Tokens Directly Without Placing an Order (Taker)
- Can I buy / sell tokens (take an order) in the British Pound market?
You will have to:
- complete KYC level 1 verification and your nationality must be British;
- link your account to a valid mobile number;
- link your account to a valid bank account.
- What is the order amount limit for buyers?
Your order amount limit is determined by your KYC level:
- Level 1: 0-500 GBP
- Level 2: 0-10,000 GBP
- Level 3: 0-100,000 GBP
The order amount is also limited by the parameter set by the order poster.
- Can I cancel an order?
You can cancel a buy order within 3 minutes. Sell orders cannot be cancelled.
- What happens if I missed the payment deadline?
Please contact the seller directly for arrangements.
- When will I receive the tokens after paying?
There are no limitations on the token release time at OKEx. Sellers have absolute control over their own tokens. Please contact the seller directly after you have paid.