OKX offers a list of 7800+ cryptocurrencies with up to 12x leverage in futures and margin markets, enabling market and limit executions. It has designed a user-leveling structure for fee discounts with 9 levels based on the trading volume and/or balance.
OKX: Company Information + Regulation
OKX, operated by OKCoin Europe LTD, is a digital asset trading platform licensed by the Malta and Dubai Financial Services Authorities. This exchange was established in 2017 by "Star Xu".
According to the latest data from CoinMarketCap, OKX is the fifth-largest exchange in the world in terms of trading volume.
Star Xu is the CEO of this crypto exchange, Hong Fang is the board's chairman, and Haider Rafique is its CMO. This team has demonstrated its commitment to obtaining licenses and regulatory approvals and has received the following approvals.
- Malta Financial Services Authority
- Dubai Virtual Assets Regulatory Authority (VARA)
- France Digital Asset Service Provider (DASP)
- Securities Commission of The Bahamas (SCB)
OKX Exchange Summary of Specifications
The exchange offers more than 7800 tradable cryptocurrencies, but is it available in your country? Besides the answer to this question, here's a table summarizing the key specifications of the OKX exchange.
Exchange | OKX |
Launch Date | 2017 |
Levels | 9 levels |
Trading Fees | Varies Based on Level |
Restricted Countries | Iran, North Korea, Syria, Hong Kong, Bangladesh, Cuba, USA, US territories, Bolivia, Crimea, Donetsk, and Luhansk |
Supported Coins | 7800+ |
Futures Trading | Yes |
Minimum Deposit | Varies on Payment Method |
Deposit Methods | Cryptocurrency, Local Bank Transfer, Skrill, Neteller, SEPA, FasterPay |
Withdrawal Methods | Cryptocurrency, Local Bank Transfer, Skrill, Neteller, SEPA, FasterPay |
Maximum Leverage | 10x For Margin Trading/12x for Futures Trading |
Minimum Trade Amount | Varies on the coin |
Security Factors | SSL encryption and Two-Factor Authentication, Risk Shield |
Services | Options, Trading Bots, Marketplace, Staking |
Customer Support Ways | Chat & FAQ |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Limit/Market |
Native Token | OKB |
Advantages and Disadvantages
Low trading fees, high quality mobile app and wide range of assets are some of the advantages of OK Exchange; but what about its disadvantages?
Pros | Cons |
More Than 7800 Coins Listed | Not available in Canada and Some Other Regions |
Low Trading Fees | Support with Few Communication Channels |
Great Reputation | - |
Advanced Trading Features (Futures, Derivatives, and Bots) | - |
Passive Income Opportunities Through the Earn Program | - |
User-friendly Interface on Desktop and Mobile | - |
Native Coin with Multiple Usages | - |
User Levels
OKX has introduced a new lead trader level system to ensure authenticity, and it includes 9 levels from Lvl 1 to VIP 8. These levels are achievable through increasing balance (EUR) and 30-day trading volume (EUR).
Tier | Assets (EUR) | 30-day trading volume (EUR) |
Lvl 1 | 0 - 20,000 | 0 - 100,000 |
VIP 1 | 20,001 - 25,000 | 100,001 - 250,000 |
VIP 2 | 25,001 - 50,000 | 250,001 - 500,000 |
VIP 3 | 50,001 - 250,000 | 500,001 - 2,500,000 |
VIP 4 | 250,001 - 500,000 | 2,500,001 - 5,000,000 |
VIP 5 | 500,001 - 1,000,000 | 5,000,001 - 10,000,000 |
VIP 6 | 1,000,001 - 2,000,000 | 10,000,001 - 20,000,000 |
VIP 7 | 2,000,001 - 5,000,000 | 20,000,001 - 50,000,000 |
VIP 8 | 5,000,001+ | 50,000,001+ |
Fees and Commissions
OKX employs a tiered fee structure based on user levels and trading volumes. These fees vary by levels, and User levels may change every day. Fees in OKX:
Tier | Maker Fee | Taker Fee |
Lvl 1 | 0.140% | 0.230% |
VIP 1 | 0.090% | 0.180% |
VIP 2 | 0.070% | 0.140% |
VIP 3 | 0.050% | 0.090% |
VIP 4 | 0.040% | 0.080% |
VIP 5 | 0.000% | 0.070% |
VIP 6 | -0.005% | 0.050% |
VIP 7 | -0.010% | 0.040% |
VIP 8 | -0.010% | 0.030% |
Unfortunately, there is no detailed information about OKX fees in derivative markets such as futures and options. The exchange also does not provide information about deposit and withdrawal fees.
Which Assets and Coins are Listed on OKX Exchange?
OKX offers its customers a diverse selection of more than 7800 cryptocurrencies on various blockchains. As of today, the exchange supports:
- Major Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP)
- Layer 1: Solana (SOL), Toncoin (TON), Cardano (ADA)
- Layer 2: Polygon (MATIC), Arbitrum (ARB), Immutable X (IMX), Optimism (OP)
- Meme Coins: Dogecoin (DOGE), Pepe (PEPE)
- DeFi: Uniswap (UNI), Maker (MKR), 1inch (1INCH)
Futures and Margin Trading Overview
OKX offers advanced trading options, including futures and margin trading. Here's an overview of these features.
Margin Trading
The exchange offers margin trading possibilities to its customers based on these specifics:
- Borrow assets from the exchange to leverage positions
- 10x Maximum leverage
- Options to "Buy (Long)" or "Sell (Short)" based on market outlook
- Interest accrues under cross and isolated margin modes
Futures Trading:
You can trade futures contracts on the exchange with these details:
- Available for various cryptocurrency pairs
- Allows traders to speculate on future price movements
- 12x maximum leverage
Sign Up and Verification: Step-by-Step Guide
OKX has a user-friendly interface, so you can register on this exchange in less than 5 minutes by following 6 steps. OKX Sign Up:
- Visit the OKX homepage and click "Sign up" in the top right corner;
- Choose country or region of residence;
- Enter your email address in the designated field;
To continue registration, enter your email on OKX - Check your email for the 6-digit verification code (valid for 10 minutes);
- Verify your phone number;
Before choosing a password, verify your phone number - Create a secure password.
After registration, you must follow authentication steps to trade different assets. OKX Verification:
- Select “Verification” from the account section on the right side of screen;
- Choose account type;
- Select a type of personal identification you can provide;
- Click on the “start” button;
- Provide personal information, a photo ID, and a selfie to complete the process.
Account verification in OKX will be done in 1-3 working days, so please be patient and contact support if it takes more time.
Applications and Platforms
OKX launched its versatile application in 2019, two years after its establishment. This means that traders can trade in this exchange using the application in addition to the website. The OKX exchange application is available on PC and mobile phones.
App for Desktop
The OKX desktop app offers a powerful and professional-grade trading platform with High liquidity and low-latency API connectivity, Margin trading and advanced tools for customized strategies.
App for mobile
The OKX app in the Play Store has received 4.4/5 from 903K reviews. It’s available for both Android and iOS devices.
Extension for Browsers
The OKX wallet web extension enhances your browsing experience with Web3 capabilities. It supports the creation or import of wallets and enables the management of cryptocurrency holdings across multiple blockchains.
Is OKX Exchange Secure?
Security is a top priority for OKX, and the exchange has implemented several measures to protect user funds and data:
- Offline cold storage for the majority of user funds
- SSL encryption and two-factor authentication for account protection
- OKX Risk Shield (asset risk reserve fund) to safeguard against potential security breaches
- Regular security audits and bug bounty programs
- Self-custody wallet with multi-chain functionality and biometric authentication
- Mobile app security features, including password protection and network protection software
Withdrawal and Deposit Methods
OKX supports various withdrawal and deposit methods to accommodate different user preferences, including:
- Cryptocurrency
- Local Bank Transfer
- FasterPay
- SEPA
- Skrill
- Neteller
OKX Exchange Trust Scores
When we checked OKX's trust score on different sites, we found that although the exchange's score is mediocre (3.2/5) in Trustpilot, it has great scores on other sources, including CoinGecko.
- OKX Trustpilot: 3.2/5 based on 1,600+ reviews
- OKX CoinGecko: 10/10
Customer Services and Support
OKX provides comprehensive customer support to assist users with various aspects of their trading experience:
- 24/7 live chat
- Email at support@okx.com
- Detailed support center with step-by-step guides, FAQs, and troubleshooting information
Which Copy Trading and Investment Services Does OKX Offer?
OKX provides a copy trading service that allows users to automatically replicate the trades of experienced "lead traders" on the platform. Besides that, there are other services on this platform such as:
- Earn (Staking with 100+ assets)
- Liquid Marketplace
- VIP Loan
- Affiliate
OKX List of Restricted Countries
OKX operates through various legal entities in different jurisdictions but restricts or prohibits the use of its services in certain locations. Current restricted locations include, but are not limited to:
- Afghanistan
- North Korea
- Iran
- Syria
- Nigeria
- Japan
- Canada
- Certain Jurisdictions within the United States
OKX reserves the right to update this list of restricted locations at its discretion, so users should check regularly.
Writer's Opinion and Conclusion
OKX has a 3.2/5 score on Trustpilot, receiving over 1,600 user ratings and reviews. CoinGecko, based on its own algorithms, has evaluated this crypto exchange with a 10/10 trust score. The company does not offer a phone channel, but provides 24/7 support via a live chat option.