Frequent order cancellations may result in “frequent canceller” penalties
Summary: Users who frequently cancel C2C orders within a single day may trigger the OKX's penalty mechanism. This mechanism is designed to maintain a fair, stable, and orderly trading environment. Once triggered, users may be temporarily restricted to buying crypto or posting orders. The restriction duration depends on the number of cancellations made.
1. Rules Description
Conditions that trigger the penalty mechanism |
|---|
1) For new users, cancelling 5 or more orders in a single day before payment, or cancelling 3 or more orders after selecting I have completed the transfer. 2) If a user tap Paid without actually completing payment and unable to contact the counterparty, need to contact our customer support team to arbitrate and cancel the order, regardless of whether the other party is a new user. Our customer support team has the right to restrict that user's order placement privileges for the day. |
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.
| Trigger | Restriction Duration |
|---|---|
| 1st time | The number of cancellations reaches the upper limit of the day. The first trigger will ban you from C2C trading for 15 minutes. |
| 2nd time | After the 15-minute ban is lifted, the second trigger of the day will ban you from C2C trading for 30-minute. |
| 3rd time | After the 30-minute ban is lifted, the third trigger of the day will ban you from C2C trading for 1 hour. |
| 4th time | After the 1-hour ban is lifted, the fourth trigger of the day will ban you from C2C trading for 4 hours. |
| 5th time | More than 4 triggers a day will ban you from C2C trading for the whole day. |
4. How to 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?