Creating sub-accounts on OKX is a good way to create a powerful OKX bot that will operate autonomously while utilizing only a strictly defined portion of your assets. This setup allows for much easier automation management and a higher level of protection against various risks associated with automated systems.
If you are interested in creating a multi-dimensional strategy and using the assistance of trained professionals, this particular guide is a great starting point. We will explain hot to use sub-accounts on OKX and why it is beneficial to split any holdings into separate manageable portions.
Note that the information in this article is strictly educational and should not be considered financial advice. As always, we recommend investors to focus on doing their own research diligently and making decisions based on their understanding of the market and its circumstances.
The benefits of using sub-accounts on OKX
Contemporary retail investors can access a rich selection of various analytical approaches, execution methods, and fintech instruments. While it is possible to engage with the market in an old-school way by creating orders manually and managing positions personally, ignoring the wide range of tools available to all contemporary investors is a huge waste that can be a detriment to the long-term performance of your holdings.
This particular exchange is one of the biggest in the world. It was established in 2017 and has had a strong track record since. Currently, you can trade 307 digital assets forming 690 pairs allowing users to employ time-tested approaches like statistical arbitrage, triangular arbitrage, market-making, scalping, and many others. With daily trading volumes exceeding $4 billion quite regularly, the CEX is certainly among industry leaders.
The access to the diverse collection of financial instruments is one of the reasons why so many retail investors feel drawn to it and focus on exploring the crypto ecosystem from this platform.
To investors with serious aspirations and sufficient funds to allow for the use of trust management, the exchange offers an opportunity to split the investable capital and approach the market from multiple vectors.
Below are the advantages of creating and managing sub-accounts on OKX:
● You can create a separate access point for each of the platform sections including the spot marketplace and derivatives.
● All users with the necessary credentials to log in can top up the balance using all standard banking options.
● It is impossible to withdraw money if you are not the user of the main account, which is a solid security feature.
Just these three rules immediately paint a picture of the possible use of subs. For example, you may be interested in running an advanced ATS design like an AI crypto trading bot that uses artificial intelligence to improve profitability. You can simply create a separate sub for it and use a new set of API keys to connect a third-party provider that offers you the necessary functionality.
How to set up multiple accounts on OKX
The process of making several subs does not take much time and can be done using the web version of the platform. You cannot do it when on mobile devices.
Here’s a simple step-by-step instruction for users who do not have any experience with this feature:
- Go to the official exchange website and log in.
- Navigate your way to the Profile page and go to the relevant menu section.
- Select “+Create sub-account” and choose its name and type.
- Click “Submit” after selecting the preferred settings.
- You must have your multi-factor authentication active to complete the process.
Note that you can create two types of subs:
- The standard type is used to run a variety of strategies while limiting each to a dedicated portion of the portfolio. It can be used to automate exchange operations.
- Managed trading is for users who want to partner with vetted professionals working with the platform. Teams of professionals offer their services for a fee.
All newly created instances will benefit from the paid services at the tier used for the main. This information is updated daily meaning that you don’t have to update it manually or talk to customer support representatives. It is possible to run up to 10 instances as a low-level user but the number can be increased with higher tiers and paid subscription plans.
Users can easily switch between the main and the sub if the corresponding option is activated. The switch can be done on the Profile page.
A setup tutorial for OKX sub-account trading strategies
Selecting the right strategy for your particular case can be challenging even for seasoned veterans with years of experience in the world of cryptocurrencies. A recent study showed that over 65% of individual retail investors use automation to at least some degree. Close to 70% use advisory services and rely on guidance from professionals.
Here are ways to utilize the subs to diversify management efforts:
● Hiring a professional manager and giving him the necessary credentials to manage a dedicated portion of your portfolio is a great way for many newcomers and people who rely on sound financial advice to optimize profitability and avoid risks.
● A third-party automation provider, such as WunderTrading or CryptoHopper, can be used to increase the efficiency of all investment activities and give you access to innovative products like AI-assisted robots, advanced analytics, and more.
● Working with vetted teams of professionals is another way of removing your hands from the wheel and allowing experts to take care of your finances. Testimonials from users about this particular option are mixed but it can be a good solution for newcomers who do not have the confidence to venture into the world of crypto on their own.
Choosing a solid ATS design
Many investors do not know much about automation and the best instruments available to retail traders who are interested in increasing the efficiency of their trading.
Here are some great systems that you can try:
● DCA robots. The Distributed Cost Average method has been around for close to a century. It is a practice of splitting a large position into a series of smaller ones to reduce the average price of asset acquisition. A DCA trading system will create multiple positions at an opportune moment and liquidate them at a profit.
● Grid robots use the same logic to identify good entry points and create a series of positions. However, for each of them, creating a separate exit point will allow users to secure profits more reliably and avoid various risks. Grid systems have become the staple of the industry for a reason. They are safe, consistent, and profitable.
● AI-assisted ATS. Recently, many industry-leading providers have started including various products enhanced with artificial intelligence. For instance, WunderTrading has a solid AI-assisted statistical arbitrage robot that can manage massive portfolios and adjust their compositions when needed. It is a novel tool that has many fans around the globe.
● Custom strategies. You may employ alerts from the TradingView platform or signal suppliers to create a unique trading method that will outperform the market and even professional managers. Searching for a source of reliable signals can be a daunting task but it pays off greatly when accomplished. Companies like WunderTrading and GunBot allow you to deploy such robots.
These are great ways to optimize profitability, manage risks, and achieve consistent returns from your holdings. By using these tools, you will quickly learn how to optimize trading with OKX sub-accounts.
Creating a connection to the CEX
The platform has a well-maintained API port that can be used to establish connections with third-party providers and trading teams. You don’t have to provide access to the main account and risk the safety of your funds and personal information. Instead, create a separate set of API keys for your subs.
Here’s how you can do it on this CEX:
- Go to the official website of the centralized exchange and log in.
- Click the profile icon and find “API” in the pop-up menu.
- Search for the necessary entry in the table and click “+ Create V5 API key”.
- Choose the purpose for the key (“API trading” or “Linking third-party apps”).
- Name the set and create a security phrase to improve the level of protection.
- You can add certain IP addresses to the list of allowed ones.
- Permit reading and trading for the key but uncheck the “Withdraw” option.
The API key can be used when establishing a connection with any provider that offers financial services and supports the CEX.
Here’s an example of how you can do it on WunderTrading:
● Go to the official website of the provider and log in.
● If you are a first-time user, you will be prompted to connect an exchange.
● Go to “My Exchanges” and search for the relevant brand in the table.
● Click the “+” icon and find the brand in the pop-up menu.
● Name the connection, provide the necessary credentials, and click “Connect”.
If you have provided the correct information, the CEX will appear among accessible ones on the same page. You will able to choose it from the list of manageable platforms when launching a new ATS.
The best third-party providers
With the current variety of fintech providers in the crypto ecosystem, making a good choice can be quite difficult even if you have some technical expertise and experience. We want to make this process easier and recommend several great vendors of automation products that work well with this particular exchange:
● WunderTrading is an industry-leading platform that has a massive catalog of products including a smart terminal integrated with TradingView, multiple ready-made solutions like a GRID or DCA trading bot systems, and an innovative AI-assisted statistical arbitrage strategy that significantly increases the precision and efficiency of portfolio management. You can also access the social marketplace featuring hundreds of trusted professionals from all supported exchanges.
● 3Commas is an interesting choice for investors who believe in the power of the community. This provider is strongly focused on delivering great social components with its marketplace showcasing some of the finest add-ons, strategies, and signals from power users and third-party vendors. The copy-trading section is one of the best in the market and allows users to follow high-performance accounts on over 10 supported exchanges.
● TradeSanta is a good destination for newcomers who do not the necessary experience or confidence to explore the world of digital assets without any guidance. They often struggle to identify a suitable analytical approach or a way to increase the speed and precision of their trades. TradeSanta offers over a thousand presets that can be launched with a couple of clicks. While other features may seem lackluster compared to industry-leading companies, the variety of ready-made solutions is enough to warrant a visit from an intrigued investor.
The main takeaway
This OKX sub-accounts guide is created to give you a glimpse of the incredible potential that your capital has when allocated to this exchange. It allows you to diversify and optimize management efforts, achieve better returns in the long run, and protect holdings from unauthorized access. The selection of tools available to all investors is excellent and you can utilize them as well as possible by simply splitting your investable capital into separate manageable portions.