Dear OKX Brokers,
Starting from Aug 18, 2022, OKX will upgrade the broker rebate tier structure to facilitate the growth of OKX brokers' business. New rebate rules will separate two business lines, Spot and Contract, and also include an upgrade of hourly rebate frequency and a systematic level upgrade.
1. Broker would be rewarded with rebate rates according to OKX tier structure, which includes both spot and contract trading. Brokers will receive a different rebate rate based on user attributes whether the user is under affiliated relationships or not. If you are interested in detailed info of tier structure, please reach out to OKX account manager.
"Rebate rate under affiliate relationships" - Users who trade through your broker platform and are connected to other invitation relationships, are defined as "affiliate invitees". Broker can receive rebates based on the "Rebate rate under affiliate relationships" from each trade of these users.
"Rebate rate under non-affiliate relationships" - Users who trade through your broker platform and are not connected to other invitation relationships, are defined as "non-affiliate invitees". Broker can receive rebates based on the "Rebate rate under non-affiliate relationships" from each trade of these users.
2. Requirements - Meet requirements of both Monthly trading volume and Monthly active traders
1) Monthly trading volume: Trading volume of Spot and Contracts separately in calendar month, unit is USDT
2) Monthly active traders: Active traders of Spot and Contracts separately in calendar month
1) Broker's level is assessed and updated each calendar month
2) Broker level = Max (Level in Spot, Level in Contracts). The higher level will be applied
4. Upgrade and Downgrade：
1）Monthly level upgrade: On the first day of each month, the brokers who meet a higher level requirement than last month will be upgraded automatically.
2) Quarterly downgrade: In the first month of each quarter (Jan, April, July and Oct), OKX will review the broker's performance in the last three months, and decide on whether to execute a downgrade if the broker doesn't fulfill requirements.
5. Rebate timing
Settlement cycle: hourly basis, T+1
Effective time: hourly basis, T+1
6. Exemption period rules
1) New brokers have a 5-month exemption period and won't be downgraded in the period
Details: OKX will set a 5-month exemption period for brokers who launch on or before the 15th of calendar month; a 6-month exemption period for brokers who launch after the 15th of calendar month.
2) Existing brokers enjoy an exemption period of three months (won't be downgraded in a quarter)
7. Rebates for sub-broker will be calculated separately based on under affiliate or non-affiliate relationships or not. All other rules remain unchanged.
Detailed rebating rules can refer to Broker Rules（https://www.okx.com/support/hc/en-us/articles/4422258019341-Introduction-of-rules-on-OKX-brokers ）
Note: OKX reserves the right in its sole discretion to amend this announcement and its description.
Aug 18, 2022 (UTC)
A step-by-step guide to purchasing and selling crypto on OKX,
Step 1: Log in to your OKX account
Before you can start buying or selling cryptocurrency on OKX, you must first log in to your OKX account. If you do not yet have an account, click Sign up and complete the registration process.
Step 2: Select Buy/Sell
Once you have logged in to your OKX account, click Buy Crypto in the upper left-hand corner of the screen to get started.
Step 3: Select your purchasing method
The next step is to choose how you would like to buy or sell . There are two primary options on OKX: Express and P2P trade.
Finally, simply confirm your transaction details.