Reward Mechanism
As an API client, you can earn rewards from the activity of your connected accounts. You choose a fee to add on top of each operation they perform: conversions, payments and deposits. These fees are collected over a monthly cycle and paid out to you as a reward.
Client Fees & Rewards
How it works
- You set your fees in the Okoora Platform.
- When a connected account performs an operation, your fee is added on top of Okoora's fee and charged to the connected account.
- Each fee you earn is added to your current reward cycle.
- The cycle closes on the 10th of the month.
- The total reward is paid to your account on the 20th of the month.
- Set your fees
- Set your fees
In the Okoora Platform, go to Client Fees → Configuration and click Edit on the tab you want to change.
You need an active tier and permission to manage fees configuration to edit fees.
| Tab | Applies to | Fee type | Set per |
|---|---|---|---|
| Margin Fees | Conversions (FX) | Percentage (%) of the converted amount | Currency tier (Tier 1, Tier 2, Tier 3 = all other currencies) |
| Deposit Fees | Incoming deposits | Fixed amount ($) | Currency and payment type (Local / SWIFT) |
| Payment Fees | Outgoing payments | Fixed ($) or percentage (%), depending on the row | Country, currency and transfer channel |
- New fees apply to operations made after you save. Operations made before that are not affected.
- Operations made by your own account, do not carry this additional fee, and therfore - those records do not earn rewards.
- The reward cycle
- The reward cycle
Rewards are collected in monthly cycles that run from the 10th of one month to the 10th of the next month
(from the 10th at 00:00 until just before 00:00 on the next 10th).
| Date | What happens |
|---|---|
| 10th → next 10th | The cycle is Active. Every fee earned from your connected accounts is added to it. |
| 10th (cycle close) | The cycle closes. Fees in other currencies are converted to USD at the rate at closing time, and the total reward is calculated. A new cycle starts. |
| 20th (payout) | The total reward is paid in USD to your account's USD balance. |
Example: fees earned between October 10 and November 9 are added up on November 10 and paid on November 20.
- Track your rewards
- Track your rewards
Go to Client Fees → Reward in the Okoora Platform to see:
- The total reward (USD) for each cycle and the dates it covers.
- A breakdown by activity: Conversions (margin fees), Payments (payment fees) and Deposits (deposit fees).
Updated 4 days ago