Crypto exchange OKX has launched its trading platform for both retail and institutional investors in the United Arab Emirates, following the acquisition of a full license.
Residents of the UAE who have completed the necessary onboarding procedures on the OKX website or app can now access its range of services.
This includes spot trading, express buy and sell, conversion, and onchain earning products. Additionally, OKX has announced that qualifying traders and institutional investors who meet specific requirements will now have access to derivatives trading on the platform.
To be eligible for derivatives trading, customers are required to first pass a knowledge test and undergo a suitability assessment.
They must also submit relevant documentation proving that they possess a minimum of 500,000 dirhams (equivalent to approximately $136,000) in cash, which will be held as liquid funds for a “reasonable” period, as defined by the exchange. The exact duration of this period was not specified.
