What are Sub-Accounts?
Sub-account was one of the most requested features of our users and with its presence, CoinDCX Pro is moving closer to full-stack offering to our institutional traders. CoinDCX Pro has proven itself to be the best crypto trading platform with leverage on 250+ altcoins, and sub-accounts allow institutions to collectively generate more profits using their corporate trading strategies. There are two types of accounts on CoinDCX Pro – a master account and a sub-account. Every account holder with KYC verification is a master account holder on CoinDCX Pro. The master account has the feature of setting up sub-accounts where they can invite other users to trade using the funds of the master account. The master account has sole control over trading, movement of assets and all deposits/withdrawals from the sub-accounts. Both types of accounts can place orders, but sub-accounts will be allowed to cancel only their own orders.
The primary advantage of sub-accounts is that it gives improved control to the master account. Generally, this feature is utilized by an organization where the team lead/head of the organization holds access to the master account and gives the traders working in their organization sub-accounts to trade. This way, he is able to control the flow of funds in both directions, inward and outward, and the traders are able to trade together as a team. The master account can access all data and balances, transfers between accounts and managerial controls. They can also delete all API keys and cancel all orders placed on any account.
CoinDCX Pro has a Sub-account feature, which is useful for people looking to set up multiple accounts within one institution and let the master account control access of all sub-accounts. An account holder can open up to 20 Sub-accounts on CoinDCX Pro. No fees will be charged to transfer funds between different sub-accounts or parent account and sub-account.
One of the major principles of CoinDX is trust and security and this feature instils these principles in their sub-account feature by dividing login information to minimize risk and maximize security.
The major highlights of the sub-account feature are the following:
1. Each Master account is allowed to create up to 20 Sub-Accounts.
2. A Master account is assigned the full management permissions over Sub-Account freezing/unfreezing, asset transfer and API management. Full control of sub-accounts: including resetting 2FA, removal of API keys, orders and passwords, as well as the ability to freeze specific sub-accounts
3. No fee charges for assets transfer between Master Account and Sub-Account.
4. The Sub-Accounts enjoy the same fee level of their Master Account.
5. The deposit, withdrawal, and API order limit are the same for the master account and all the sub-accounts.
You can access the sub-accounts feature on CoinDCX Pro by clicking on the Button. The sub-account feature will enable on your account only if your KYC verification is complete.
You don’t need any special access to become the master account. You can directly add new sub-accounts by clicking on ‘Create New Sub Accounts’.
You will be required to fill in the details of the new account you are creating. The sub-account users can directly access their account by logging in using the credentials filled in this step.
The master account can track the portfolio balance of each of its sub-accounts and can control or manage the funds on each account.
Register on CoinDCX Pro and try our industry-leading feature for your organization or with your friends. Get the institutional level trading experience on the world’s most versatile exchange where now you can buy or sell bitcoin with 500 other markets, also in leverage, using master account and the sub-accounts.
Note – 2-Factor Authentication is mandatory for all sub-accounts on CoinDCX Pro starting from 29/06/2020 at 8:00 PM (IST). This will improve the level of security of your sub-account and prevent the likelihood of any unauthorized access. Two-Factor Authentication can be implemented via 2 methods:
- SMS based 2FA – Receiving One-Time Password as a message on your mobile number
- Authenticator App – Using a trusted app like Google Authenticator
- Sub Accounts are not eligible for CoinDCX Pro’s referral program. The referral program is only active for primary accounts.
For any queries, please contact [email protected]