OKX (Formerly OKEx) is an online cryptocurrency exchange that enables the trading of over 300 digital currencies, from Bitcoin (BTC) to Chia (XCH), and even a native token (OKB). OKX offers maximum leverage of 1:100.
OKX at a glance
| 📍 Headquartered | Seychelles |
| 📅 Year Founded | 2017 |
| 📱 Social Media Platforms | Telegram YouTube |
| ⚖️ Regulating Authorities | None |
| 🌐 Regional Restrictions | Hong Kong, Cuba, Iran, North Korea, Crimea, Malaysia, Syria, USA (including Puerto Rico, American Samoa, Guam, Northern Mariana Island, Malta and the US Virgin Islands, Canada, the United Kingdom, Bangladesh, Bolivia, and Malta |
| 💰 Minimum Commission per Trade | 0.10% on spot trades |
| 👍 Crypto trading offered | Yes |
| 📈 Maximum Leverage | 1:100 |
| 💰 Minimum Deposit | None |
| 💰 Accepted Deposit Currencies | Crypto Only |
| 💳 Deposit and Withdrawal Options | Google Pay IMPs PayPal Credit Card Debit Card Bank Transfer iDEAL ADVCash Apple Pay SEPA Sofort |
| 💳 Minimum Withdrawal Time | Instant |
| 💳 Maximum Estimated Withdrawal Time | 5 – 7 days |
| 💳 Instant Deposits and Instant Withdrawals | Yes |
| 💻 Trading Platforms | OKX Desktop OKX Mobile |
| 📊 Tradable Assets | Bitcoin (BTC) Ethereum (ETH) Tether (USDT) Litecoin (LTC) Ripple (XRP) Bitcoin Cash (BCH) Dogecoin (DOGE) Cardano (ADA) Polkadot (DOT) Polygon (MATIC) |
| 👨💼 Languages supported on Website | English |
| 👥 Customer Support Languages | English |
| 📈 Copy Trading Support | None |
| 📆 Customer Service Hours | 24/7 |
| 💰 Bonuses and Promotions | Yes |
| 📊 Education for beginners | No |
| 💻 Proprietary trading software | Yes |
| 👉 Open a account | Click Here |
Min Deposit
USD 0
Regulators
Not Regulated
Trading Platform
OKX Desktop, OKX Mobile
Crypto
Yes
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
OKX Review – 16 Keypoint overview.
- WHO ARE OKX?
- SAFE OR SCAM
- OKX PROS AND CONS
- OKX LEVERAGE
- OKX ACCOUNTS
- OKX MARKET INSTRUMENTS
- OKX FEES
- OKX DEPOSIT AND WITHDRAWAL
- OKX TRADING PLATFORMS
- HOW TO OPEN AN OKX ACCOUNT
- OKX EDUCATION
- OKX Current Popularity Trend
- OKX CUSTOMER SUPPORT
- CONCLUSION
- DISCLAIMER
- FAQ’s
WHO ARE OKX?
With its spot and derivative products, as well as lending and mining services, the crypto exchange has attracted more than 20 million customers worldwide.
OKX was established in 2017 by Mingxing “Star” Xu as a separate entity from OKCoin. Due to China’s restriction on the trading of ICO currencies on any platform, OKCoin was compelled to relocate its headquarters from Beijing to Hong Kong.
To address this issue, OKX was established, and its headquarters relocated to the Republic of Seychelles. OKX is currently live in over 100 countries, but unfortunately, the United States is not one of them.
OKX provides high-end charting tools, a variety of order options, margin, and futures trading, and low-cost trading fees.
SAFE OR SCAM
The secret keys for user accounts in OKX are stored on separate offline computers, and the network communication technique used to send user data across vast distances is proprietary. In terms of security, OKX is distinguished by the following:
️ Hot wallets like OKX’s are multi-signature affairs, with private keys being held in three different, geographically scattered places by different people.
️ Two-factor authentication (2FA) is required by default on OKX, with support for Google Authenticator. This can be turned off at the user’s discretion.
️ To verify that emails from OKX are legitimate and to protect themselves from phishing attacks, users have the option of activating an anti-phishing code that is included in all email messages.
️ OKX stores 95% of all crypto assets in offline vaults called cold storage, and the private keys to these offline vaults are stored in many places throughout the world.
️ OKX customers have the option of creating a “funds password” that must be provided whenever money is withdrawn.
️ All deposits and withdrawals need risk-management layers before being uploaded to the blockchain.
️ OKX claims its semi-offline servers cannot be attacked physically. User private keys are saved in the server’s temporary memory file, not a hard disk.
️ OKX does not employ TCP/IP, which enables digital computers to interact over great distances. This communication is done using a proprietary, partly offline network protocol that avoids internet attacks.
OKX PROS AND CONS
| ✔️ Pros | ❌ Cons |
| OKX offers traders a wide range of cryptocurrencies that can be traded | The fee structure is multi-tiered and can be very confusing |
| There is a broad range of offerings across futures, options, perpetual swaps, margin trading, and spot trading | Fiat deposits and withdrawals are not supported |
| The Buy/Sell dashboard is extremely user-friendly | There is low liquidity in some cryptocurrencies |
| There is dedicated Tech support available 24/7 on live chat | There are many mixed reviews from users |
| The APY’s on staking are extremely attractive | |
| There are hundreds of trading pairs offered | |
| Deposits using crypto are instant |
OKX LEVERAGE
Traders in cryptocurrencies can choose between traditional trading and leveraged trading. However, even the bare-bones trading option provides a wealth of complex order types, charting and analysis tools, and access to real-time order books.
Basic Trading is tailored to experienced crypto traders and investors. Thus, newcomers might feel overwhelmed by the sheer number of available actions.
OKX allows for perpetual swaps, options contracts, and margin trading with up to 125X leverage for high-leverage trading. Trading of this kind requires the creation of an account and the acceptance of a user agreement.
Min Deposit
USD 0
Regulators
Not Regulated
Trading Platform
OKX Desktop, OKX Mobile
Crypto
Yes
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
OKX ACCOUNTS
Instead of offering many live accounts that can be used to purchase, sell, and trade cryptocurrencies, as brokers do, OKX gives a single live account.
Account Verification Levels
On OKX, there are four degrees of account security, with higher levels unlocking more platform features.
️ Unverified accounts can only withdraw 10 BTC each day and cannot purchase crypto with fiat money.
️ Level 1 requires nationality, name, and document ID number. Customers can purchase cryptocurrencies with fiat cash and withdraw up to 200 BTC every day, and P2P exchanges are limited to $500.
️ Level 2 demands a photo ID. Face recognition software from Netverify is required. You could withdraw up to 500 BTC every day, and your P2P maximum is $10,000.
️ After passing the first two rounds of verification, users can go onto the third by reading and agreeing to the OKX disclaimer. The daily withdrawal limit in BTC is the same as in level 2, with a P2P limit of $100,000.
Account Management.
OKX is a digital currency exchange where users can buy, sell, trade, stake, and join mining pools. Users must connect to the OKX trading platform to deposit money and buy cryptocurrencies.
Trading Experience
OKX’s “Buy Coins” interface, which is accessible on mobile and desktop platforms, makes it simple to buy bitcoin via several online payment methods, including linked bank accounts, debit cards, credit cards, and even Google and Apple Pay.
OKX supports over 30 “fiat” currencies, including the US dollar (USD) and the Turkish new lira (TRY). Optional for cryptocurrency traders are standard trading and leveraged trading.
However, even the most basic trading option includes an abundance of complicated order types, charting and analysis tools, and access to order books in real-time.
OKX MARKET INSTRUMENTS
OKX offers 300 tokens and trading pairs and serves millions of users in over a hundred countries. Some of the top coins offered by OKX include:
️ Bitcoin
️ OKB
️ Terra
️ Ethereum
️ TRON
️ Avalanche
️ Polkadot
️ Solana
️ Polygon
️ XRP
️ Dogecoin
OKX offers three main ways through which trades can be made, namely:
️ Futures
️ Perpetual Swaps
️ Options
OKX offers other services in addition to futures trading, and some examples are:
️ Spot trading
️ Margin trading
️ Decentralized finance (DeFi)
️ Lending
️ Crypto mining services
Futures
On the OKX derivatives market, futures instruments can be traded on 12 different assets. These futures contracts have leverage that exceed 100 times (1:100). There are options for weekly, biweekly, monthly, and quarterly periods, and they are settled every day at 8 am UTC.
You might decide to have your investments margined in Tether (USDT) or other cryptocurrency tokens. You could also cross-margin your account when dealing with futures. You can use money from any of your OKX accounts to satisfy the margin requirements.
Perpetual Swaps
On the OKX exchange, these assets are referred to be perpetual swaps, but on certain other platforms, they are also known as perpetual futures. Except for the lack of an expiration date, they operate identically to traditional futures.
Options
Options are derivative contracts that provide the option to buy or sell an asset later, but not the obligation to do so. They are financial products with uneven payoffs.
There is no required margin when buying an option and instead, you pay a premium to the counterparty and the OKX derivatives trading charges.
However, you must expressly ask for this if you wish to sell an option. They will also urge that you keep a minimum balance in your account in case the situation suddenly becomes more favourable to someone else. On OKX, options can currently be traded on just one asset, bitcoin.
OKX FEES
OKEx’s price structure is complicated, but the exchange’s cheap costs make it a popular destination for crypto buyers and sellers. OKX offers numerous cost structures because of the variety of trades it facilitates, currencies it accepts, account volumes, and whether the user has OKB.
OKEx’s flat trading fee is 0.10% or less for most customers. In addition, there could be additional costs for using a credit card or debit card to make a purchase.
Most other exchanges charge more fees than this one does. OKX’s trading fees are determined by a few factors, including a maker-taker fee model, trading volume, and the amount of the native OKB currency a user has in their account.
Discounts become available when consumers make more transactions and keep more OKB coins. The typical OKX fee structure is as follows:
| Level | OKB Holdings | 30-Day Trading Volume in USD | Maker Fee | Taker Fee |
| 1 | <500 OKB | <10,000,000 | 0.080% | 0.100% |
| 2 | >500 OKB | <10,000,000 | 0.075% | 0.095% |
| 3 | >1,000 OKB | <10,000,000 | 0.070% | 0.090% |
| 4 | >1,500 OKB | <10,000,000 | 0.065% | 0.085% |
| 5 | >2,000 OKB | <10,000,000 | 0.060% | 0.080% |
OKX DEPOSIT AND WITHDRAWAL
OKX offers the following payment methods through which deposits and withdrawals can be done:
- Google Pay
- IMPs
- PayPal
- Credit Card
- Debit Card
- Bank Transfer
- iDEAL
- ADVCash
- Apple Pay
- SEPA
- Sofort
OKX TRADING PLATFORMS
OKX offers traders the use of the following trading platforms:
️ OKX Online Platform,
️ OKX Mobile App
OKX is a digital currency exchange where users can buy, sell, and trade digital currencies, as well as stake digital currencies for interest and participate in digital currency mining pools.
To begin purchasing cryptocurrency, users need to log in using a web browser, deposit money, and make their purchases.
In addition, OKX provides a mobile app that allows users to access live trading, monitor their portfolios, and manage their accounts.
The comprehensive charting and trading capabilities available on the OKX mobile app are almost indistinguishable from those available on the OKX web-based trading platform.
HOW TO OPEN AN OKX ACCOUNT
Anyone located outside of the United States can easily open an account. OKX’s account creation process is like that of other cryptocurrency exchanges and stock brokerages.
Step 1 – Visit the OKX website
Visit the official OKX website.
Step 2 – Click on the “Sign Up” tab
On the top right of the menu, click on the “Sign Up” tab.
Step 3 – Fill out the registration form
Fill out all the required details to finish setting up your account
Traders must note that the withdrawal limitations for unverified accounts are capped at 10 BTC per day, while trading limits for the same level are capped at $500.
OKX EDUCATION
Numerous Telegram and Facebook groups comprise OKX’s very robust community. This is a terrific opportunity to discuss trading ideas with other local traders.
OKX also places a significant focus on crypto education via its excellent instructional department, the OKX academy.
This includes everything you need to know, from basic trading guidelines to more complex materials such as how to trade options and futures and custom trading techniques and general cryptocurrency information.
OKX Current Popularity Trend
As According to Google Trends, here is an overview of how frequently the search term – “OKX” is entered into Google’s search engine over a given period of time.
OKX CUSTOMER SUPPORT
OKX is unusual among cryptocurrency exchanges in that it provides 24/7 telephone assistance to its consumers. It also has an official Telegram channel for real-time help, and OKX also offers standard customer support via Twitter and other social media platforms.
The support centre at OKX is stocked with a wealth of informational articles and lessons, and the same is true of the company’s website.
Min Deposit
USD 0
Regulators
Not Regulated
Trading Platform
OKX Desktop, OKX Mobile
Crypto
Yes
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
CONCLUSION
OKX is a wonderful platform for non-US citizens who want advanced trading capabilities and affordable costs. It provides unique trading choices and the chance to mine cryptocurrency.
OKX is a cryptocurrency exchange that supports a wide variety of cryptocurrencies, enables you to stake your crypto, and provides around-the-clock phone service. However, OKX lacks the liquidity of other exchanges, and its site is not very user-friendly.
DISCLAIMER
There are security issues unique to cryptocurrency exchanges that are absent from conventional financial systems.
However, the suggested procedures for keeping your bank accounts secure are similar. To avoid having your money stolen, use security measures such as multifactor authentication and strong, unique passwords for each website and application.
The risk of loss could be substantial when dealing with or storing digital assets, and these currencies are not back by any government.
Depending on your financial circumstances, you should carefully consider if dealing with, possessing, or trading digital assets is suitable for you, according to research in South Africa.
FAQ’s
How safe is OKX?
OKX is extremely safe. For the safety of its customers’ assets, OKX employs basic security measures, such as cold storage. Features such as a withdrawal password and anti-phishing codes are available as optional extras.
How do I open an OKX account?
To sign up for OKX, just visit their website and look for the blue “Get Started” banner that has an empty field where you can enter your email address or mobile phone number.
Once you have provided this information the registration page will load, and you can complete all the empty fields to create an account.
How do I withdraw cryptocurrency from the OKX mobile app?
Visit the “Buy Crypto” page, input the quantity of USDT you intend to buy in your local currency, and then finish the payment through bank transfer to have your USDT sent into your bank account.
How do I deposit into OKX?
To deposit funds, you can navigate to the deposit tab and log in. You can then navigate to “assets” and choose a currency for deposit. Next, you can choose and confirm the location for your deposit and complete the information necessary to confirm the deposit.
Who owns OKX?
OKX is currently owned by the Ok Group.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that could change at any time, even if the information supplied is correct at the time of going live.
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