sludgefeed.com
Hong Kong-based cryptocurrency exchange OKEx announced Tuesday that it has increased the available leverage for margin trading for select cryptocurrencies on its trading platform.
5X leverage is now available to Margin Trading!
Read more: https://t.co/i48aQfEaY8 pic.twitter.com/A9fAjvK248
— OKEx (@OKEx) February 26, 2019
According to the announcement, the following trading pairs are now available with up to 5x leverage: BTC/USDT, ETH/USDT, ETH/BTC, BCH/USDT, BCH/BTC, LTC/USDT, LTC/BTC, ETC/USDT, ETC/BTC, EOS/USDT and EOS/BTC.
OKEx notes that the risk ratio maximum for the 5x leverage is 125%, a decrease from the 150% for the platform’s 3x leverage. The margin call ratio remains 110%, meaning when the risk ratio is at or under 110%, forced liquidation will be triggered.
Other major altcoins that support margin trading, including XRP and TRX, will continue to be available with up to 3x leverage.
While the announcement says the increase is in response to market demand, the move is likely designed to increase trading volume on the platform, which currently hovers around $750 million a day. This places OKEx in second behind Binance which currently has over $1 billion in daily trading volume, although past reports have called OKEx’s trading volume into question.