In an announcement OKCoin has said that it has officially updated its mobile Android trading app to include futures trading and new candlestick charts. According to the press release from the company the new product launch brings features available on OKCoin.com to mobile app users who have been waiting for long.
Now traders will have access to ten times leverage on all trades, a profit calculator and bi-weekly, weekly, monthly and quarterly contract types, etc. Talking to media professionals OKCoin international marketing manager Zane Tackett said that China-based company believes the product will appeal to serious traders.
He believes that the traders who need the ability to manage their positions on-the-go and at all times will benefit from it. According to him, it can be a fearful time when users have a lot of contracts open on margin and they are on the go. He added that now, it’s convenient to monitor, open, and/or close at any time or place.
Nonetheless, Tackett even suggested that the company has wanted to have these features on the OKCoin app since August, when it introduced futures trading to its main platform. Thus, according to him OKCoin delayed the implementation to ensure it was delivering a polished app to market, which he feels the company has achieved with its latest update.
Features BTC/USD and LTC/USD trading pairs
The company has made it clear that its Android mobile app now features BTC/USD and LTC/USD trading pairs. It also brings updated candlestick charts and a profit calculator while providing access to order and transaction history. Thus, OKCoin’s futures platform which has seen an increase in user since its initial launch is expected to get even more popularity.
Tackett is of the view that the futures option proved popular during the most recent decline in the price of Bitcoin. He says during the latest price dive and the following return to $380 the company saw its futures volume and user count skyrocket. According to him, the mobile app will encourage further use of its futures platform during times of heavy volatility.
Nonetheless, now with OKCoin’s futures trading platform traders can enter into contracts to buy or sell Bitcoin at a later date and at a specified price. Thus, the contract can be used by conservative traders as a hedge against volatility, while more aggressive traders can pursue larger gains through such activities.
To contact the reporter of this story: Deepak Tiwari at email@example.com