Frequent order cancellations may result in “frequent canceller” penalties
Resumen: Los usuarios que cancelen con frecuencia las órdenes C2C en un solo día pueden activar el mecanismo de penalización de OKX. Este mecanismo está diseñado para mantener un entorno de trading justo, estable y ordenado. Una vez activado, es posible que los usuarios tengan una restricción temporal para comprar criptos o publicar órdenes. La duración de la restricción depende del número de cancelaciones realizadas.
1. Rules Description
Conditions that trigger the penalty mechanism
New users
Cancelling unpaid orders 5 or more times in a single day; or
Cancelling orders 3 or more times after tapping I've paid
In addition, if a user taps I've paid without actually making a payment, and the order is subsequently cancelled through our Customer Support arbitration due to inability to reach the counterparty, the platform reserves the right to restrict that user's ability to place orders for the day — regardless of whether the counterparty is a new user.
Regular users (existing users)
If orders are cancelled 3 times due to reasons attributable to the user, the system will restrict that user from trading for a period of time.
If a user taps I've paid without actually making a payment and the order is cancelled once, the system will restrict that user from trading for a period of time.
2. Scope of Restrictions
Once the penalty is triggered, the user will be restricted from performing the following actions during the restriction period:
Placing a Buy order in the C2C Trading section
Placing a Buy order in the C2C Express section
Posting a new Buy order
Modifying an existing Buy order
3. Penalty Duration Rules
Penalty duration: 15 minutes, 30 minutes, 1 hour, 4 hours, all day. Reset the penalty at midnight of the current day.
| Ejecución | Duración de la restricción |
|---|---|
| Primera vez | La cantidad de cancelaciones alcanza el límite superior del día. La primera activación te prohibirá el trading C2C durante 15 minutos. |
| Segunda vez | Una vez eliminada la prohibición de 15 minutos, la segunda activación del día te prohibirá el trading C2C durante 30 minutos. |
| Tercera vez | Una vez eliminada la prohibición de 30 minutos, la tercera activación del día te prohibirá el trading C2C durante 1 hora. |
| Cuarta vez | Una vez eliminada la prohibición de 1 hora, la cuarta activación del día te prohibirá el trading C2C durante 4 horas. |
| Quinta vez | Más de 4 activaciones al día te prohibirán el trading C2C durante todo el día. |
4. How do I raise a dispute order？
During the C2C trading process, you can submit a dispute for orders that encounter issues, such as limited number of purchases, not releasing crypto, not making payment, not using real-name verification, unable to contact the other party, etc.) or require a change of judgment:
Within 72 hours after order creation, you can select this link to self-service dispute, select the relevant order > select Need help > select Raise dispute > choose Other > get help > raise a dispute. Our customer support team will assist you via online.
If the order has been created for more than 72 hours, self-service appeals are no longer available. You can contact our customer support team, and we will assist you to dispute the orders.
For more details, please refer to: How do I raise a dispute when using C2C trading?