In a move to enhance trading system performance and market protection, OKX has announced a significant update to its order limits. Effective November 9, 2023, at 16:00 (UTC+8), the exchange will implement a unified single-order limit of $20,000,000 USD for all trading products, including:
- Spot trading (币币)
- Margin trading (杠杆)
- Futures (交割)
- Perpetual swaps (永续)
- Options (期权)
Key Details of the Update
- Order Rejection: Limit orders exceeding the new USD value cap will fail upon submission.
- API Integration: API users will receive error code "51185" for超额 orders.
- Frontend Messaging: Users will see the error message: "Single limit order value cannot exceed $20,000,000 USD."
- Exemptions: RFQ (Request-for-Quote) and Nitro Spreads orders are unaffected by this change.
👉 Learn how this change impacts high-volume traders
Proactive Adjustments Recommended
Traders with pending orders above the new limit are advised to:
- Modify existing orders before the deadline.
- Monitor API responses for error codes.
- Review trading strategies to align with the updated policy.
FAQ Section
Q: Why did OKX introduce this change?
A: To optimize system performance and safeguard market stability by preventing excessively large orders from impacting liquidity.
Q: How does this affect algorithmic trading?
A: API users must update their systems to handle the new error code (51185) and ensure orders comply with the limit.
Q: Are there plans to adjust this limit in the future?
A: OKX may revisit the cap based on market conditions and trader feedback, but no announcements have been made.
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