OKX contract voucher and usage rules
What's a contract voucher?
Contract voucher is a reward type that provides users with a margin for opening a perpetual contract. The funds associated with the voucher are separate from the user's own funds and can't be used at the same time. It is used for a one-time opening of a perpetual contract position. When closing a position, if the user's balance deducting trading fee is bigger than the face value of the contract voucher, the profits will be automatically transferred to the user's trading account If the balance is smaller than face value, OKX will recover all the remaining costs, and users will not bear any losses.
Benefits of a contract voucher
Users can open a perpetual contract position without spending their own funds
Easy to learn and use
Profits are withdrawable after the closing of a position
Where can I find it?
You can view the vouchers you've received in My Rewards.
Note: you'll need to be logged in to access this page.
How do I use it?
A voucher can only be used for those contracts and available leverage multiples listed on the event page. The maximum position number you can open for each voucher is one. When you open a position, a market price under cross margin mode will be placed.
You can close the position opened with a voucher on the Positions page. A position can only be closed at market price and the leverage can't be adjusted after the position opened.
A voucher is limited to be used on several specific pages, and will be automatically used after you open a position. A voucher used in a partial fill during an extremely volatile market won't be restored.
A contract vouchers is independent from your own funds and can’t be used together with them. Each voucher can only be used once.
If a position opened with a contract vouchers is liquidated, only the voucher amount will be lost and your own funds won’t be affected.
The validity period of trial vouchers may vary by campaign. Please make sure to use them within the valid period.
Why can't I open a position, or why are some trading pairs missing from my contract voucher?
A trading pair may be unavailable for three reasons:
You already hold a contract-voucher position in that pair, or you hold a voucher position in the opposite direction. You can't hold hedged or stacked voucher positions in the same pair.
The voucher's face value is too small to open even one contract on that pair at the available leverage.
The voucher may not have configured certain pairs, based on applicable reward rules and restrictions.
Can I set a take profit or stop loss, or change the leverage or margin, after opening a contract voucher position?
No. Once you open a contract-voucher position, take-profit/stop-loss isn't available, the leverage is locked, and you can't add or reduce margin. The position can only be closed at market price.
How is my profit or loss settled on a contract voucher?
When you close the position, if its remaining value (after trading fees and funding fees) is above the voucher's face value, the difference is credited to your trading account as profit. If it's below the face value, OKX covers the shortfall and you simply receive nothing. If the position is liquidated, only the voucher amount is lost and your own funds aren't affected.
How is my position size decided, and what leverage can I use, with a contract voucher?
The number of contracts opened is based on the voucher's face value, the leverage you choose, and the contract's price. If a voucher's value is too small to open at least one contract on a pair, that pair won't be available. The leverage options you can pick from depend on the campaign the voucher came from.
Here's a tutorial for you
Click here to view the video.
Terms and Conditions of Contract Voucher Usage
Vouchers that haven't been used before the expiration date will no longer be valid and can't be used
The amount of vouchers can't be transferred to other accounts and profits earned in contract trading will be deposited to the trading account automatically
If a violation such as bulk registration or malicious monetisation is found, OKX will strictly review relevant actions, disqualify accounts from participating in the event and recover the vouchers that were released to aforesaid accounts
OKX reserves the right to modify, change or cancel the contract vouchers at any time and for any reason without prior notice
OKX reserves the right to final interpretation of the contract vouchers