Fed up with a system that actively works against them retail traders are moving away from BitMEX, to the more ‘retail-investor’ friendly OKEx exchange to trade.
OKEx’s popularity as the go-to site is growing by the day, as more and more people shun the high risk, high reward BitMEX platform to an exchange that is designed to be user friendly and able to scale to suit the demands of both first-time traders and high frequency traders (HFTs).
There’s a number of reasons people are turning to OKEx, which is recognised as the world’s biggest exchange by volume, trading around $1.5 billion per day in Bitcoin futures, but one that is particularly attractive is that new investors can withdraw their digital assets as many times as they like per day, BitMEX allows only one withdrawal per day.
In an environment where retail investors are increasingly risk averse and see regular news stories on the importance of keeping their assets safe, this is a boon.
Investors like the flexibility of being able to take their gains when they’ve got them rather than leaving them sitting on an exchange, and OKEx provides for this flexibility.
A spokesperson for OKEx said:
“We’ve listened to our customers and we want to provide them with the most flexibility we can and the ability to control where and when they can withdraw the assets they have deposited with us.
“At the end of the day our customers are our business, we could not exist without them, therefore we want to make sure they have the best services possible available to them.
“Other exchanges, like BitMEX, only allow one withdrawal per day. We don’t think this is a particularly customer friendly system, and we’re working to continue our reputation as the biggest and most customer-friendly cryptocurrency exchange available.
“BitMEX was built by professional traders, for professional traders. At OKEx we’re for pro traders and everyone else.”
Based out of crypto-friendly ‘blockchain island’ Malta, OKEx offers a wide range of services for customers.
As well as trading Bitcoin futures customers can trade hundreds of altcoin and futures trading pairs, giving them a wealth of options to help them develop their best trading strategy.