Can't trade perpetual futures on OKX?
Check your account mode first

So if the trading page has no way into perpetual or expiry futures, or a futures order won't go through, don't assume something is wrong with your account just yet. The two OKX help pages that list what spot mode can trade include neither perpetual nor expiry futures.

What each mode can trade

Can spot mode borrow? OKX's pages disagree

Here are the statements behind that first table row, side by side with a third page:

The last two pages were updated more recently, and there's an entire rules page devoted to borrowing in spot mode. Read the three together and it's clear that spot mode doesn't guarantee you'll never touch borrowing. Whether your own trading page shows options such as borrowing or auto-borrow is what tells you how your account actually works right now.

That same page has three borrowing rules worth remembering:

• Interest is charged on your debt every hour.
• If your account's net assets fall below the maintenance margin plus the initial margin needed for open auto-borrow orders, the system cancels all those orders.
• If your maintenance margin ratio drops to 100% or below, the system first repays the debt and interest with the same asset, then reduces positions, and if that still isn't enough, liquidates everything.

If all you want is to buy and sell spot with your own money, check before placing an order that it isn't an auto-borrow order. A normal buy order uses your own assets; when an auto-borrow order fills, the system borrows on your behalf.

Where to switch: app and web paths

OKX's English help pages give slightly different paths, but the backbone is always trading page → settings → account / trading mode:

Menu labels change with app updates. If they don't match what you see, look in the trading page's settings for the item with “mode” in its name.

Every one of these help pages carries a note at the top saying the content “may not apply to all users”. If you've switched to futures mode and still have no way into futures, changing modes isn't the fix, and don't go looking for so-called workarounds.

Cross margin in futures mode shares one currency

Futures mode gives you two ways to use margin: isolated and futures cross margin. Isolated is easy to grasp: each position uses its own margin and nothing is shared.

The cross margin rule is this: cross positions in futures and margin trading that have the same settlement currency share margin, and their profits and losses offset. OKX's own example: in futures cross mode you hold a BTC coin-margined perpetual and, at the same time, open a BTC/USDT margin long using BTC as margin. Those two positions share margin and offset each other's profit and loss.

Isolated draws a clearer line around your losses than cross: if one position goes wrong, it doesn't touch another position's margin. But futures and margin positions can both lose all the margin put into them; isolated only fences the loss inside one position. Before opening a futures position, see OKX perpetual futures: liquidation, funding and leverage.

Multi-currency margin is not a beginner upgrade

Because it's labelled “advanced”, it's easy to read it as an account upgrade. OKX says it is meant for advanced spot, margin and futures traders, such as large institutions, market makers and other professional users.

The core difference from futures mode is how far cross margin reaches. Under multi-currency cross margin, every currency in the account is converted to its USD value and counted as margin together, and all cross positions in futures and margin trading share margin and offset profit and loss. With auto-borrow turned on, you can borrow automatically to trade a coin's spot and futures markets even if you don't hold that coin.

Requirements: “Why do I use an unified account?” gives trading account funds of at least 50,000 USD, while “What is multi-currency margin mode?” gives account assets worth at least 10,000 USD. The portfolio margin row says VIP3 user level or above. For a beginner, which number is right matters less than a prior question: do you actually need all of your assets carrying the risk together under cross margin?

Borrowing isn't free either. When you trade futures under multi-currency cross margin, each currency has an interest-free borrowing allowance, for example 20,000 USDT. Once unrealised losses go beyond that allowance, interest starts to accrue and is charged once an hour.

300% and 100%: two lines that keep coming up

The help pages on futures mode, multi-currency margin mode and borrowing in spot mode all give the same two lines:

• Maintenance margin ratio ≤ 300%: the system issues a position-reduction warning, alerting you to the risk of your positions being reduced.
• Maintenance margin ratio ≤ 100%: the system forcibly liquidates positions. The spot-mode borrowing page also spells out what happens first: repay debt and interest with the same asset, then reduce positions, then liquidate everything if that still isn't enough.

The 300% line is a reminder, not protection. How long it takes to fall from 300% to 100% depends on how fast the market moves. To work out your liquidation price before opening a position, the app's futures trading page has a calculator under ··· → Common features at the top right; the Help Center says it can calculate position PnL and liquidation price. For what a liquidation really costs you, read on: OKX perpetual futures: liquidation, funding and leverage.

Match the mode to what you actually want to do

• Only buying and selling spot, with no borrowing or futures: spot mode, and don't place auto-borrow orders.
• Opening perpetual or expiry futures: futures mode. Isolated draws a clearer line around losses than cross; futures and margin can both lose all your margin.
• Multi-currency margin or portfolio margin: OKX says multi-currency margin is for advanced users such as large institutions and market makers, and portfolio margin requires VIP3 user level or above. Without a clear need, don't switch.

The same Trading mode page holds two more settings. One is the position mode: one-way positions hold only one direction at a time, and opening in the opposite direction closes your current position, which OKX labels as suitable for beginners; two-way positions let you hold long and short at the same time. The other is the futures trading unit, which can be shown in coins or in contracts.

The moment you place an order brings a separate layer of mistakes, such as a stop-limit order that never fills or a closing order sent without reduce-only ticked. Those come down to order types, not account modes. For protecting the account itself, see the account security setup guide.