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OKX Review

Last Updated on May 16, 2024

James Headshot
Written by
Adam Headshot
Edited by
OKX logo
3.57
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit OKX

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

OKX is an international cryptocurrency exchange that has exploded onto the scene in the last few years with its advanced trading features. The company also stands out in maintaining high-security standards and having a versatile mobile app.

Even though the platform is getting mixed sentiments from its users with regard to its customer support, the company remains committed to improving its services and overall performance.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Featured In

Pros

  • Wide range of cryptocurrencies available
  • Advanced trading features and interfaces
  • Competitive trading fees
  • Strong liquidity, facilitating large trades

Cons

  • Can be complex for beginners
  • Has faced regulatory challenges in some countries
  • No fiat currency support for certain services
  • Customer support can be slow to respond
  • Some users report technical glitches during peak trading times

Quick Summary

Headquarters Location International
Fiat Currencies Supported USD, AUD, GBP, CAD, EUR, NZD + 85 others (some through third party apps)
Total Supported Cryptocurrencies 372+
Trading Fees 0.08% - 0.10%
Deposit Methods Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Apple Pay, Google Pay, Simplex, Banxa, MoonPay, Xanpool, Mercuryo, Coinify, UTORG
Support Facebook, Twitter, Instagram, Live Chat, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

OKX distinguishes itself from other cryptocurrency exchanges by offering an easy-to-navigate and user-centric interface. The platform provides a wide range of services, including staking options and crypto-secured loans, to meet the varied needs of its users via their OKX account.

OKX homepage

Although the parent company is headquartered in the Seychelles, OKX caters to a worldwide user base, except for certain regulatory limitations that affect United States residents.

With 372+ supported cryptocurrencies, OKX provides its users with a wide range of trading options and opportunities for growing their digital assets. The crypto exchange also comes with a powerful mobile app for traders on the go.

About OKX

Established in 2017, OKX has rapidly expanded to provide a reliable environment where users can transact Bitcoin, Ethereum, and Dogecoin, among others, at reduced trading fees.

The exchange serves as an all-encompassing hub for services for cryptocurrency assets such as spot cryptocurrency transactions, derivatives exchange, margin trading capabilities, connectivity solutions (Bridges), and collaborative cryptocurrency mining (Mining pools).

OKX features

OKX also offers cloud-based digital wallet solutions and has its own blockchain network (OKExChain). It offers financial lending facilities, brokerage options, and dedicated educational resources.

Founding and Growth

Founded by Star Xu in 2017, OKX has experienced significant growth in a relatively short time frame. The exchange, headquartered in Seychelles, has become a prominent player in the global cryptocurrency exchange landscape.

This rapid growth was marked by OKX becoming the world’s largest cryptocurrency exchange by reported turnover in May 2018, a testament to its expanding user base, deep liquidity, low fees, and high trading volume.

OKX relocated its operations to Malta in 2018 to keep pace with progressive regulations. This move reflects the exchange’s commitment to providing a secure and regulatory-compliant trading environment.

OKX has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Discord, Reddit, Telegram, TikTok and YouTube.

OKX has a mobile app on both the Apple App Store and Google Play.

OKX Supported Cryptocurrencies

OKX supports trading on over 372 cryptocurrencies on their platform. This exchange currently supports 29 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • USDC (USDC)
  • XRP (XRP)
  • Dogecoin (DOGE)
  • Toncoin (TON)
  • Cardano (ADA)
  • Avalanche (AVAX)
  • Shiba Inu (SHIB)
  • TRON (TRX)
  • Polkadot (DOT)
  • Chainlink (LINK)
  • Bitcoin Cash (BCH)
  • NEAR Protocol (NEAR)
  • Polygon (MATIC)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • UNUS SED LEO (LEO)
  • Dai (DAI)
  • Pepe (PEPE)
  • Internet Computer (ICP)
  • Kaspa (KAS)
  • Ethereum Classic (ETC)
  • Aptos (APT)
  • Render (RNDR)
  • Stacks (STX)
  • Hedera (HBAR)

Download full list of cryptocurrencies OKX supports

Trading Experience

OKX caters to all levels of trading proficiency, ensuring a robust trading experience for novices and seasoned traders alike. It extends diverse services encompassing spot, margin, and derivatives trading to support various investment approaches and enhance the possibility of substantial gains with low trading fees.

Trading Pairs and Instruments

The platform facilitates cryptocurrency trading by offering an extensive array of 372+ cryptocurrencies, including prominent ones such as Bitcoin, Ethereum, XRP, and SOL.

For those immersed in the crypto world of decentralized finance (DeFi) and non-fungible tokens (NFTs), the exchange provides a Uniswap-inspired DEX platform and its diverse multi-chain OKX NFT Marketplace designed to serve these interests.

The OKX Mobile App empowers users to access numerous DApp protocols that exceed thousands and offers engagement options like margin and derivative trading. It features an integrated NFT marketplace alongside asset management tools facilitated through its Web3 Wallet, a versatile decentralized multi-chain solution.

Advanced Trading Tools

OKX enhances the trading experience by providing various futures trading alternatives, such as conventional futures with set expiration dates and perpetual futures contracts. It also offers advanced options for sophisticated trading tools through a collaboration with SignalPlus.

Traders have access to various order types, including limit orders, stop orders, and more nuanced limit order selections like ‘Post Only,’ ‘Fill or Kill,’ and ‘Immediate or Cancel,’ thus accommodating varied trading approaches and market conditions that help optimize trading volume and profit prospects.

Among the automated trading tools offered by OKX are:

  • A clever portfolio management bot that automates the process of managing one’s investment portfolio
  • A spot grid bot designed to analyze market trends and execute trades accordingly
  • And a bot specifically devised for executing strategies within the realm of future markets

By availing these instruments, traders can systematize their trade plans, which may lead to improved profitability and copy trading outcomes.

OKX exchange marketing

OKX Fees

OKX implements a graduated fee schedule, with charges varying between 0.08% - 0.10%. Their VIP members benefit from lower fees.

Trading Fees

OKX typically has low fees and imposes trading fees that are competitively lower than those of Binance or Coinbase.

Users may experience a reduction in charges based on their designated tier level, which OKX determines through evaluating their cryptocurrency holdings, including crypto holdings of the exchange’s native token—OKB—or their cumulative trading volume over the past 30 days.

Holders of OKB, OKX’s proprietary token, benefit from discounted trading fees when using the platform.

Deposit and Withdrawal Fees

OKX provides various deposit and withdrawal methods options, including Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Apple Pay, Google Pay, Simplex, Banxa, MoonPay, Xanpool, Mercuryo, Coinify, UTORG. Users can select their preferred method of deposit.

For withdrawals, OKX enables users to retrieve their money through the same channels available for deposits. Importantly, withdrawing via a bank account is free of any charges at OKX, which presents an economical choice for those who prefer conventional banking and withdrawal methods.

Type Fee
Deposit Fee (Bank Transfer) Depends On the Country
Deposit Fee (Credit/Debit Card) 0%
Trading Fee 0.08% - 0.10%
Withdrawal Fee (Bank Transfer) 0% via P2P

OKX supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0004 BTC. The average across all other exchanges that we've reviewed is 0.000415 BTC. This means OKX charges below the industry average by 3.71%.

OKX has a maker/taker fee schedule which you can see below.

Regular users

Tier Total OKB Holding Assets (USD) or 30-day Trading Volume (USD) Maker Fee Taker Fee 24h Crypto Withdrawal Limit (USD)
Lvl 1 < 100 < 100,000 / < 5,000,000 0.080% 0.100% 10,000,000
Lvl 2 >= 100 < 100,000 / < 5,000,000 0.075% 0.090% 10,000,000
Lvl 3 >= 200 < 100,000 / < 5,000,000 0.070% 0.080% 10,000,000
Lvl 4 >= 500 < 100,000 / < 5,000,000 0.065% 0.070% 10,000,000
Lvl 5 >= 1,000 < 100,000 / < 5,000,000 0.060% 0.060% 10,000,000

VIP Users

Tier Assets (USD) or 30-day Trading Volume (USD) Maker Fee Taker Fee 24h Crypto Withdrawal Limit (USD)
VIP 1 >= 100,000 / >= 5,000,000 0.045% 0.050% 12,000,000
VIP 2 >= 500,000 / >= 10,000,000 0.040% 0.045% 16,000,000
VIP 3 >= 2,000,000 / >= 20,000,000 0.030% 0.040% 20,000,000
VIP 4 >= 5,000,000 / >= 100,000,000 0.020% 0.035% 24,000,000
VIP 5 >= 10,000,000 / >= 200,000,000 0.000% 0.030% 30,000,000
VIP 6 — / >= 500,000,000 -0.002% 0.025% 36,000,000
VIP 7 — / >= 1,000,000,000 -0.005% 0.020% 40,000,000
VIP 8 — / >= 5,000,000,000 -0.005% 0.015% 40,000,000

Security - Is OKX Safe?

Safeguarding user funds and data is paramount in the realm of trading digital assets. OKX implements industry best practices to ensure this security, including utilizing cold storage for most customer assets and setting up withdrawal passwords and anti-phishing codes.

Platform Security

OKX has teamed up with reputable external security entities, including Komainu Connect and Copper’s ClearLoop Platform, to fortify the protection of user assets. Such collaborations bolster asset security and underscore OKX’s dedication to maintaining a safe trading ecosystem.

Distinct characteristics of the OKX wallet include:

  • Accommodation for 77 different blockchains
  • Smooth transition between exchange features and wallet utility
  • Interoperability with widely-used hardware wallets, such as Ledger
  • Diverse methods for fortifying wallet security

User Account Security

OKX places a significant emphasis on safeguarding user accounts. It offers a range of self-help features to boost account protection, such as:

  • Switching between different authentication applications
  • Confirming the authenticity of communication channels
  • Updating personal contact details
  • Temporarily deactivating an account
  • Checking the operational status of their system

To strengthen security measures, the OKX wallet assigns a distinct address for every individual transaction undertaken by users looking to receive or send cryptocurrency. OKX’s customer support team is also available around the clock to help with any concerns about securing their accounts.

OKX Customer Support

The platform’s customer support has received varied feedback, good and not-so-good, with certain users highlighting delayed response times and difficulties in managing funds (we’ll talk more about this below).

Support Channels

OKX provides multiple customer support avenues, such as a comprehensive FAQ section, a request submission option, and a live chat feature. These resources are designed to offer quick help for users’ questions or issues.

There have been instances where users experienced delayed responses and received varying levels of satisfaction with OKX’s customer service. The platform acknowledges these areas that need enhancement and is committed to improving its support system to deliver an uninterrupted trading experience while efficiently addressing user concerns.

User Feedback and Reviews

In general, user testimonials and feedback praise OKX’s customer support, highlighting satisfactory interactions. Yet, there are instances of negative reviews that focus on delayed response times and problems resolving issues effectively.

Users also provide feedback that navigating OKX’s fee structure can be somewhat complex for newcomers, who might encounter restrictions when seeking assistance from customer support.

OKX support

OKX Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

Mobile App and Accessibility

OKX offers a powerful app for traders on the go, equipped with capabilities to execute transactions and access market data in real-time.

App Features

The OKX mobile app is engineered to support advanced trading features in spot, margin, and derivatives, positioning itself as a trustworthy trading platform used for cryptocurrency transactions. It encompasses sophisticated features tailored for crypto trading, including, but not limited to, stop-loss orders, limit orders, and capabilities essential for margin trading.

The app has two variants: Lite and Pro versions. These effectively cater to a spectrum of users, from novices to advanced levels.

The OKX mobile app also integrates extra levels of protection that contribute significantly to guarding against unauthorized access and potential crypto theft, mainly when there is a risk due to misplaced or stolen devices.

Device Compatibility

The OKX app is designed to support various devices and platforms, ensuring users can use the mobile app on iOS and Android devices.

Those who prefer using desktops are not left behind, as OKX has made applications available for both Windows and MacOS systems. This extensive range of compatibility across different gadgets delivers an uninterrupted trading experience, enabling users to execute trades while on the move or from the tranquil setting of their home.

Staking and Earning Opportunities

The OKX mobile app offers users more than just trading. It enables them to accrue passive income via crypto staking and a range of structured products in its Grow section.

OKX distinguishes itself by providing notable high returns under certain circumstances. They ensure that every crypto deposit is backed up by a corresponding reserve, which presents greater transparency concerning the sources of yields compared to various other cryptocurrency exchanges.

OKX also facilitates peer-to-peer transactions while granting users access to opportunities within the OKX mobile app to earn passive income.

How to Sign Up on OKX

  1. Create Account - Visit the OKX website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you can deposit using the deposit methods listed below, including some options through third party apps.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • Simplex
  • Banxa
  • MoonPay
  • Xanpool
  • Mercuryo
  • Coinify
  • UTORG

OKX Alternatives

Binance logo

Binance

3.23
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
394+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others

Visit Binance
Kraken logo

Kraken

3.44
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
253+

Trading Fees
0.08% - 0.40%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other

Visit Kraken
Bybit logo

Bybit

3.31
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
498+

Trading Fees
0.0675% - 0.1200%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 160 others

Visit Bybit

Final Thoughts

OKX stands out as a versatile hub for engaging in cryptocurrency trading, accumulating stakes, and generating earnings. It offers an interface that is accessible and well-tailored to facilitate trading with its broad selection of trading pairs, cutting-edge tools designed for sophisticated trade activities, and fee structures positioned competitively within the market—all enhancing its appeal to traders around the globe.

OKX prioritizes asset protection through robust security measures to foster a trustworthy trading platform dedicated to digital currency transactions.

However, feedback indicates that customer support can be inconsistent, and complex fees may create obstacles, particularly for those new to the platform. Still, OKX remains committed to continuously evolving its services and delivering an enjoyable experience to its users.

OKX FAQs

Trust in a cryptocurrency exchange often depends on various factors including its security measures, regulatory compliance, operational history, and customer reviews. OKX, formerly known as OKEx, is a well-established cryptocurrency exchange that has been operational in the crypto space for several years.

It serves millions of users worldwide and implements security features to protect its customers’ assets. Prospective users should conduct their own research and consider these factors when deciding whether to trust any cryptocurrency platform.

Most cryptocurrency exchanges, including OKX, have Know Your Customer (KYC) processes in place to comply with regulatory standards. These processes typically require users to verify their identity before they can engage in certain activities on the platform, such as withdrawing funds.

Users are usually required to complete KYC verification to ensure a secure trading environment and to prevent fraud and other illegal activities.

OKX is part of the OK Group, which was founded by Star Xu. The ownership and management structure may involve other individuals and entities as well.

For the most current and detailed information, it would be best to refer directly to OKX’s official communications or corporate filings.

OKX operates its own blockchain network called OKChain for some of its services. Additionally, the exchange supports transactions on various other blockchain networks, allowing users to trade and interact with a wide range of cryptocurrencies that operate on different networks.

OKX offers a range of features that may be suitable for both beginners and experienced users. It provides a user-friendly interface and resources to help new users understand the platform.

However, beginners should always exercise caution and educate themselves about the risks of cryptocurrency trading before starting.

Yes, users can withdraw money from OKX once they have completed any required verification processes and complied with the platform’s withdrawal policies. It’s important for users to familiarize themselves with the withdrawal procedures and any potential limits or restrictions.

For basic functionalities such as exploring the platform and certain low-volume transactions, users may be able to use OKX without completing full KYC verification. However, KYC becomes necessary for higher-volume trades and withdrawals as part of OKX’s adherence to regulatory requirements and anti-money laundering policies.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

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Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
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Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

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