OKX Launches Orbit with Real-Time Trade Linking, Pressuring eToro
OKX has introduced Orbit, a social trading feature embedding real-time discussion, livestreams and cashtag-linked trades directly in its app, complete with performance metrics over 7-day to 1-year timeframes under KYC controls. The launch extends tools pioneered by eToro’s OpenBook and CopyTrader, heightening social trading competition.
1. OKX Launches Orbit Feature
OKX has rolled out Orbit inside its trading app, allowing users to share trade ideas, host livestreams and execute trades directly from posts using cashtags like $BTC or $ETH. A real-time discussion layer displays each user’s calculated holdings, profit and loss, and leverage.
2. Comparison with eToro’s Platforms
eToro pioneered social trading in 2010 with OpenBook and CopyTrader, enabling users to follow and copy top traders. Orbit builds on this model by offering integrated performance and post tabs that update live and cover multiple timeframes from seven days to one year.
3. Competition and Market Impact
The launch of Orbit intensifies competition in the social trading space, posing a challenge to eToro’s established user base and potential revenue from copy trading fees. Investors may reassess eToro’s growth prospects as OKX expands its feature set.
4. Regulatory and Rollout Details
Access to Orbit requires identity verification and compliance with KYC, AML and transaction-monitoring controls, while performance data sharing remains optional and uneditable. The feature will initially be unavailable in the U.S., Europe, Singapore, Australia and the UAE during its beta phase.