What Is OKX Unified Account? Differences from Classic Accounts
The core difference of the OKX Unified Account is:It allows a single account to trade spot, margin, perpetual, futures, and options simultaneously, without needing to transfer funds between different business accounts, and profits and losses from different products can offset each other.This is completely different from the traditional exchange model where "spot has one account and derivatives have another."
A leading global cryptocurrency platform,suitable for both beginners and experienced traders.
New user benefit: 20% off trading fees upon registration!！
1. What Problems Does the Unified Account Solve?
In the traditional model, users typically had to manage multiple independent business accounts: funding account, spot account, margin account, perpetual account, futures account, options account, etc. When switching from spot to derivatives trading, users had to manually transfer funds from one account to another, which was cumbersome and often caused missed opportunities.
The Unified Account merges these independent accounts into a single trading account, where all assets are pooled together and can be used for both spot and various derivatives trading.
2. Four Account Modes: Choose as Needed
The Unified Account offers four modes, which differ in trading permissions and margin calculation methods. Users can select from [Settings] → [Account Mode]. Switching modes is not allowed when there are open orders or positions; orders must be canceled or positions closed first.
| Account Mode | Trading Permissions | Margin Rules | Activation Conditions |
|---|---|---|---|
| Spot Mode | Spot, Options (buyer only) | No margin trading | Activated by default |
| Spot & Derivatives Mode | Spot, Margin, Perpetual, Futures, Options | Single-currency cross-margin: positions in the same currency share margin and offset P&L | Complete quiz |
| Cross-Currency Margin Mode | Spot, Margin, Perpetual, Futures, Options | Multi-currency cross-margin: all assets valued in USD as shared margin | Account equity ≥ $10,000 + quiz |
| Portfolio Margin Mode | Spot, Margin, Perpetual, Futures, Options | Margin calculated based on risk model, supports complex hedging portfolios | Account equity ≥ $10,000 + quiz |
The main differences between account modes are only reflected in cross-margin mode; in isolated margin mode, assets are treated separately, and the differences between modes are minimal.
Spot Modeis suitable for beginners new to crypto, focusing only on spot trading without leverage or derivatives, keeping risk relatively manageable.
Spot & Derivatives Modeis ideal for experienced retail traders and quant users. In this mode, contracts and margin positions settled in the same currency can share margin and offset P&L. For example, a BTC-margined perpetual contract and a BTC/USDT margin long position can share BTC margin, with profits from one offsetting losses from the other.
Cross-Currency Margin Modeis the most representative mode of the Unified Account. All digital assets in the account (BTC, ETH, SOL, etc.) are converted into USD value at a certain discount rate and collectively serve as margin for all positions. For example, if the account holds BTC and ETH, you can open both BTC and ETH contracts simultaneously, sharing a single margin pool for higher capital efficiency. However, this mode requires stronger risk management skills and a passed knowledge test.
Portfolio Margin Modeis the most advanced mode, designed primarily for institutions and professional market makers. It uses a risk model to calculate margin, allowing derivatives under the same index to offset each other. For example, when holding an options hedging portfolio, the system recognizes the hedging relationship of risk exposure, thereby reducing maintenance margin requirements.
A leading global cryptocurrency platform,suitable for both beginners and experienced traders.
New user benefit: 20% off trading fees upon registration!！
3. Key Differences from Classic Accounts
OKX began phasing out classic accounts from 2021 and fully transitioned to Unified Accounts by early 2022, with over 99% of users already upgraded. New users now default to the Unified Account, so there is no "whether to switch" issue.
The differences are summarized below:
| Dimension | Classic / Regular Account (Retired) | Unified Account |
|---|---|---|
| Number of Accounts | Multiple independent business accounts (spot, derivatives, options, etc.) | One trading account manages all businesses |
| Fund Transfer | Manual transfer required between different products | No transfer needed, automatic sharing |
| Margin | Independent per business account | Supports cross-product and cross-currency sharing |
| P&L Calculation | Calculated separately per business | Profits and losses from different products can offset each other |
| Capital Efficiency | Low, funds dispersed | High, funds concentrated and utilized |
The ability for P&L from different business lines to offset each other is the most significant functional improvement of the Unified Account. For example, if a derivatives long position incurs a loss while a spot holding gains profit, the two can offset in the Unified Account, reducing the margin required.
Under Cross-Currency Margin Mode, can all coins in the account be used as margin at 100% value?
No. Different coins have different discount rates (haircuts), and the system converts them into USD value based on risk level. For example, major coins have higher discount rates, while smaller coins have lower rates. Specific discount rates can be found on the platform's "Staking Coins" page.
Which mode is suitable for beginners?
The default Spot Mode is sufficient. It does not support margin trading, only spot buying and selling, so there is no risk of liquidation from leveraged operations. Once familiar with trading rules, users can consider upgrading to more complex modes.
Can different sub-accounts have different modes?
Yes. Each sub-account can independently set its account mode upon login. The master account can also uniformly set different modes for different sub-accounts from the sub-account management page.
