Cryptocurrency technical analysis 101
How to create and use sub accounts for crypto trading on OKEx
A step-by-step tutorial for trading cryptocurrency on OKEx using sub accounts
Institutional interest in cryptocurrency markets has been on the rise over the last few years, and OKEx offers a variety of features to meet the demands of its institutional and advanced retail users. One of these features is the sub account functionality, which allows users to create segregated accounts under their main, or master, account.
Since institutions often require asset management and trading access for designated people, the use of sub accounts allows them to achieve this without having to compromise the security of their master account.
Each sub account has an independent username and password and can be assigned customized permissions. To further protect assets in the master account, sub account users are not allowed to withdraw assets directly. Withdrawals are only possible after sub accounts move assets to their respective master accounts.
In this tutorial, we will go over more details and the steps required to create and use a cryptocurrency trading sub account on OKEx.
Maximum number of sub accounts allowed on OKEx
In OKEx there are two segments of customers based on BTC-denominated trading volumes — normal users and VIP users. The maximum number of sub accounts allowed per account varies for normal and VIP users. While normal users can create a maximum of 5 sub accounts, VIP users can create 10 - 50 sub accounts, depending on their level.
The details can be found in the table below:
Benefits of using sub accounts on OKEx
With the use of sub accounts, institutional users enjoy the following benefits:
- Optimization of trading portfolios
- Segregation of trades for enhanced transparency
- Lower trading fees
- Access to application programming interface services for algorithmic trading
Optimizing trading portfolios and enhanced transparency
Institutional traders can benefit from organizational improvements and increased transparency when using sub accounts on OKEx. For instance, sub accounts can be created for trading various categories or segments of coins and tokens, such as decentralized finance, exchange tokens and so on.
Segregation of trading activities can also be useful for auditing and accounting purposes as well as for meeting compliance requirements.
Lower trading fees
The fees in spot, futures, perpetual swap and options trading markets vary for normal and VIP users. Users in higher tiers enjoy lower trading fees, and sub accounts can take advantage of the fee tier designated to the master account.
For instance, if a master account is on VIP 3 tier while its sub account is a normal Level 1 user, the trades performed using the sub account will still incur the lower fees allowed for the VIP 3 tier account.
Access to API services for algo trading
Additionally, sub account users can connect to the OKEx websocket API and receive notifications for trading signals and other relevant information.
Follow the steps below in order to create and use sub accounts for trading on OKEx.
Step 1: Go to the sub account section
Login from the OKEx homepage and click Sub account from the dropdown menu that appears by hovering the mouse over the profile icon in the top right corner.
Step 2: Create a sub account
Click + Create Sub Account on the right side of the homepage to create your sub account. As a Level 1 user, you can create up to five sub accounts.
Step 3: Enter sub account details
Enter the name and login password to register your sub account and verify the decision using an SMS code sent to your registered mobile number. Click Confirm to proceed.
Step 4: Review sub account details
Go back to the Sub account tab on the profile page to review the account details. You can view the status and manage your sub account. For instance, you can transfer funds, reset your password, lock the sub account and review asset balances.
Step 5: Transfer funds to the sub account
You need to fund your sub account before using it to trade cryptocurrencies.
Click Transfer on the sub account page. Choose the current sub account, the token you want to transfer and the funding account. Enter the amount you wish to transfer and click Confirm to proceed.
Step 6: Login with your sub account
To trade using your sub account, you need to first log out of your master account. After that, you can login to your sub account and start trading.
Step 7: Trade using your sub account
You can use your sub account to trade any of the cryptocurrencies on OKEx. The procedure for trading is the same as it is for your master account. When selling BTC for USDT, for example, you will select the order type and enter the amount of BTC for trading. When set, click Sell BTC to proceed.
Step 8: Review your order
Once the order is executed, you can review it in the "Order History" tab.
Contact your account manager for more information
VIP users can contact their account managers for further questions regarding the use of sub accounts on OKEx.
Not an OKEx trader? Learn how to start trading.
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