How Order Cancellation Works on OKEx
OKEx operates as a professional cryptocurrency trading platform with specific rules governing order management:
Seller Order Cancellation Rules:
- Sellers cannot cancel orders after they've been matched with a buyer
- Pending/unmatched orders can be canceled freely
- Market orders execute immediately, leaving no option for cancellation
OKChain Integration:
- OKChain serves as OKEx's underlying blockchain infrastructure
- Provides enhanced interoperability for decentralized applications
- Supports OKB token (total supply: 1 billion) distribution
Margin Trading Mechanics:
Margin Rate Formula: (Fixed Margin + Unrealized P/L) * Average Entry Price * Leverage / (Contract Value * Position Size) - Adjustment Factor
Key Platform Features
| Feature | Description |
|---|---|
| Cross Margin | All assets serve as collateral across positions |
| Mark Price | Special pricing mechanism to prevent unnecessary liquidations |
| Partial Liquidation | Gradual position reduction during volatile markets |
Risk Management Protocols
- 10x Leverage: Positions liquidate when margin falls ≤10%
- Position Sharing: All trading pairs in same currency share margin
- Leverage Range: 1-100x available for contracts
👉 Discover OKEx's advanced trading features
Frequently Asked Questions
Can sellers cancel completed orders on OKEx?
No, once an order is matched and executed, cancellation isn't permitted. Only pending/unmatched orders can be canceled.
What happens during high volatility?
OKEx uses mark pricing to calculate unrealized P/L, reducing unnecessary liquidations during market swings.
How does margin work across different pairs?
The Unified Account System allows assets to be denominated in USD value, serving as collateral for all open positions.
What's special about OKChain?
It provides:
- Enhanced blockchain interoperability
- Decentralized application support
- OKB token distribution infrastructure
Trading Best Practices
Platform Selection:
- Always choose established exchanges like OKEx for security
- Verify platform credentials before trading
Risk Management:
- Understand liquidation thresholds
- Use appropriate leverage (1-100x available)
- Monitor margin levels regularly
Market Analysis:
- Track mark prices for perpetual contracts
- Watch for gradient margin requirements
👉 Learn professional trading strategies
Conclusion
OKEx maintains strict order execution policies to ensure fair trading. While sellers can't cancel matched orders, the platform provides robust risk management tools including mark pricing, partial liquidation, and cross-margin capabilities. Traders should familiarize themselves with these mechanisms before executing transactions.
Remember: Successful trading requires understanding platform rules, managing risk appropriately, and staying informed about market conditions.