Setting up your OKX account for advanced trading features like futures and derivatives requires a few essential steps. Whether you're integrating with third-party trading platforms such as Tealstreet or preparing for leveraged trading, understanding how to configure your account mode, generate an API key, and securely connect it is crucial. This guide walks you through each phase with clear instructions, best practices, and tips to ensure a seamless setup.
Understanding OKX Account Modes
Before engaging in futures or derivatives trading on OKX, users must adjust their account mode. By default, new accounts may be set to "Simple Mode," which limits access to advanced trading tools.
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Why Change Your Account Mode?
- Simple Mode supports only spot trading.
- To trade futures, perpetual contracts, or other derivatives, you must switch to a more advanced configuration.
- The correct mode enables integration with external platforms like Tealstreet for automated or enhanced trading strategies.
Steps to Change Your Account Mode
- Log in to your OKX account.
- Navigate to the Trading Page and select Margin Trading.
- Click the gear icon in the top-right corner.
- Choose Account Mode from the settings menu.
Select and activate:
- Single-currency margin
- (Optional) Multi-currency margin, depending on your needs
Once activated, your account will support derivatives trading and be ready for API-based integrations.
🔍 Tip: Ensure all settings are saved before proceeding. A successful change will reflect immediately in your trading interface.
Creating an API Key on OKX
An API (Application Programming Interface) key allows secure communication between your OKX account and third-party platforms like Tealstreet. It grants controlled access without sharing your login credentials.
Prerequisites
- You must have already switched out of Simple Mode.
- Two-factor authentication (2FA) must be enabled on your OKX account.
Step-by-Step: Generate Your OKX API Key
- Open a new browser tab and log in to your OKX account.
- Click your user profile icon in the top-right corner.
From the dropdown, select API Management.
- On the API page, click Create V5 API Key.
- Select Connect to Third-party Application.
- Choose Tealstreet from the application list.
Configure API Permissions
When setting up the API key, pay close attention to the following fields:
- ✅ Bind to Third-party App: Must be checked
- App Name: Automatically set to Tealstreet
- API Name: Assign a recognizable name (e.g.,
Tealstreet_Main) - Passphrase: Enter a unique passphrase — this is required by OKX and will be used later
- ✅ Permissions: Ensure Trading is enabled
- ❌ Do not enable withdrawal permissions for security reasons
- Review all settings carefully, then click Confirm.
⚠️ Security Note: Never share your API secret or passphrase. Store them in a secure password manager.
After confirmation, OKX will prompt you to enter:
- Your email verification code
- A 2FA code from your authenticator app (e.g., Google Authenticator)
Upon successful verification, a pop-up will display your:
- API Key
- Secret Key
- Passphrase
📌 Copy and save these details securely — they will not be shown again.
Connecting OKX API to Tealstreet
With your API keys generated, it’s time to link them to the Tealstreet trading terminal.
Step-by-Step Integration
- Open your Tealstreet dashboard in another tab.
- Log in using your credentials.
- Navigate to the API Keys section.
- Click the blue button labeled New API Key.
- From the exchange dropdown, select OKX.
Now fill in the required fields:
- Name: Give your connection a label (e.g., “OKX Futures”)
- Encryption Password: Create a strong password to protect this key within Tealstreet
- API Passphrase: Paste the passphrase you created earlier on OKX
- Key: Paste your OKX-provided API Key
- Secret: Paste your OKX-provided API Secret
- Click Create
✅ Success Indicator: If all details are correct, your OKX balance should appear in the margin panel under the Trading page in Tealstreet.
Best Practices for Security and Performance
Integrating exchange APIs enhances trading efficiency but also introduces potential risks if misconfigured.
Security Recommendations
- Use a dedicated API key for each third-party service.
- Avoid enabling withdrawal permissions unless absolutely necessary.
- Regularly rotate API keys (create new ones and deactivate old ones).
- Keep backup codes for 2FA in a safe, offline location.
Troubleshooting Tips
- If connection fails, double-check that the API Key and Secret are not swapped.
- Ensure your account mode supports derivatives trading.
- Confirm that "Trading" permission is active on the API key.
- Time synchronization issues can cause authentication errors — ensure your device clock is accurate.
Frequently Asked Questions (FAQ)
Q: Can I use the same API key for multiple platforms?
No. For security reasons, always create a separate API key for each platform (e.g., one for Tealstreet, another for a bot). This minimizes risk if one service is compromised.
Q: What happens if I lose my API passphrase?
You cannot recover a lost passphrase. However, you can generate a new API key on OKX with a new passphrase. Make sure to update it in Tealstreet afterward.
Q: Is it safe to connect my OKX account to Tealstreet?
Yes — as long as you follow security best practices:
- Only grant trading permissions
- Use strong passphrases
- Monitor API activity regularly
Tealstreet does not store sensitive data long-term, but user responsibility remains key.
Q: Why can't I see my balance after connecting?
This usually indicates incorrect API input or insufficient permissions. Verify:
- Correct copy-paste of Key/Secret/Passphrase
- Active "Trading" permission
- Proper account mode (not Simple Mode)
Q: Does OKX charge extra fees for API trading?
No. OKX does not impose additional fees for using APIs. Trading costs remain consistent with standard fee structures based on your VIP level.
Q: Can I trade futures through Tealstreet after setup?
Yes! Once connected and confirmed, you can execute spot, margin, and futures trades directly via the Tealstreet terminal using your OKX account balance.
Final Thoughts
Configuring your OKX account for advanced trading isn’t complicated — but precision matters. From switching account modes to generating secure API keys and linking them to powerful tools like Tealstreet, every step builds toward a more dynamic and efficient trading experience.
👉 Start connecting your exchange securely today and take control of your strategy.
By following this guide, you’ve laid the foundation for automated trading, real-time data analysis, and cross-platform portfolio management — all while maintaining control and security over your digital assets.
Remember: Always prioritize security, verify inputs, and keep backups handy. With the right setup, your trading journey just got smarter.