OKX to Offer Crypto Trading Signals to Retail Traders

OKX, one of the biggest crypto exchanges by trading volume, has announced the launch of Signal Trading, a trading bot and marketplace. The new platform, scheduled for release in August-September 2023, offers automated crypto trading strategies for retail traders.

OKX to Launch a Signal Trading Platform

Signal Trading introduces a marketplace where users can access automated trading strategies based on technical analysis or 'signals'. These signals provide insight into when to buy or sell digital assets.

Scheduled for a rollout in the next few months, the marketplace enables traders to pick from an array of signal providers. Early-bird users and signal providers can currently register on a pre-launch waitlist.

The new feature will be integrated with TradingView, a popular charting platform. The company stated in the press release that Signal Trading goes beyond generating signals. Users will be able to specify actions, instruments, and other parameters related to the particular trading signal. This hands-off approach allows users to follow and copy signals without the need for manual execution.

"OKX Signal Trading will further improve users' trading experience on OKX by providing access to a diverse range of high-quality signals from top providers, reducing manual entry errors and unlocking a world of trading opportunities for traders," Lennix Lai, the Global Chief Commercial Officer at OKX, commented.

Signal providers will be able to provide their services to 50 million customers and expect lower transaction costs. In turn, signal recipients will not have to pay additional commissions for subscriptions and will benefit from shorter execution times.

Lai further emphasized that advanced algorithms, real-time market data, and diverse signal providers will allow retail traders to elevate their trading game and connect with a global community of investors.

OKX's New Licenses and Partnerships

Over the past two months, OKX has announced a number of significant updates. In May, the crypto exchanges applied for a French digital asset service provider (DASP) license, aiming to make the country its regional hub. A few weeks later, the company announced that it has been granted a Minimal Viable Product (MVP) Preparatory license from the Dubai Virtual Assets Regulatory Authority (VARA).

In the meantime, the second-largest crypto exchange by trading volume has announced its integration with a collateral management platform Komainu Connect. This partnership allows institutional customers to execute secure, around-the-clock trading of segregated assets under custody.

In the most recent move announced last week, OKX expanded its sponsorship deal with Manchester City football club. The new three-year deal makes the crypto exchange the Official Sleeve Partner of 'The Citizens'. According to industry sources, the newest deal is worth approximately $70 million.

Since the beginning of 2023, the exchange has increased its cryptocurrency reserves by $2.5 billion to $10 billion.