The webs most detailed review of Okex: When blockchain and crypto meet trading and finance, there is Okex. Learn why over 100 countries and many millions have kept trading on this veteran trading platform since 2014.
In this section of our Okex review we highlight 6 special features that deserves extra attention.
Okex is a veteran cryptocurrency exchange launched back in 2014. It is now based in Malta and the owner of the business is a company named Aux Cayes FinTech Co. Ltd which is based in the Seychelles like many other cryptocurrency exchange platforms. Traders from over 100 countries have used this exchange and it’s processing several billions of trading volume daily.
Why use Okex
Okex is a semi-difficult exchange to use since there are many different products and the menu is packed with different features for all kinds of traders and investors. If you are interested in crypto rewards, free bitcoin, fast trading, mining, lending, and staking you should definitely check out Okex. You also have the option to buy bitcoin and other cryptocurrencies with a credit or debit card if that’s what you prefer.
Trading on Okex
Day trading and swing trading are what’s on the menu on Okex. This exchange is famous for being a hub for traders that like advanced trading tools and several different altcoins markets. Choose between perpetual swaps, futures, crypto options, and the standard spot market. If you are an experienced trader you can add some leverage with a maximum of 100x.
There is also a decentralized (DEX) based trading on Okex and it’s something worth checking out. On the Okex DEX there are two versions of trading. You can choose the swap mechanism or the trade version that has a trading chart, order book, and order selections like any other day trading platform.
Payment methods and limits
There are not many more payment methods offered on Okex than the standard card payments, bank transfer, ApplePay, and Sofort. This will work in most places but a lot of our visitors on Tradingbrowser are using different payment providers and they should also be served. The withdrawal limit is very high on Okex since it’s a cryptocurrency exchange and all withdrawals have to be done in BTC.
Things we don’t like
There is one thing that I dislike about Okex and that’s customer support. There is a huge queue in the live chat and every time I change the page on the site I lose the live chat connection. During this whole review, I haven’t been able to talk to anyone from the support team. This is negative because it tells me that Okex is not focusing on their clients enough and they will lose traders due to this. When you need help on the platform you should only be a few clicks away from talking to someone.
About the special features on Okex
Okex has a lot of special features to offer all their traders. You can day trade or scalp bitcoin or altcoins in the spot market or trade a little bit more aggressively in the margin it and if you trade the perpetual swaps you will get access to 100x leverage. Keep in mind that the more leverage you use the higher the risk will be and your stop loss will get higher.
The exchange offers lending, loans, and staking which is a great tool for those of you who are interested in passive income from cryptocurrencies. Okex has a great interface for making money with cryptocurrencies and altcoins in other ways than just active trading, this is a plus for the exchange. Okex is also full of promotions as well where you can win a lot of things from Teslas to iPhones.
Another thing that is very interesting with Okex is the ICO-offerings that they help out. You can head over to the Jumpstart section in the Finance tab and choose in which way you want to participate. They only allow serious projects and if you decide to invest you can choose the first or second round of investments in these ICO’s.
KYC is an option on Okex and a good tool to increase your limits. You can also verify yourself as a company and get access to the institutional trading services that Okex offers.
On Okex you can take part in rewards like free bitcoin every day by completing small daily learning missions. You can also earn free bitcoins by inviting your friends to the Okex platform. To be able to start earning free BTC you need to verify your identity and mobile phone.
You can trade real cryptocurrency options on Okex which is becoming more popular every day it seems. The great benefit of trading crypto options is that you will be able to have full upside on your trades but your downside is completely limited to the premium you pay for the option. Cryptocurrency options are optimal for traders who want maximum upside but still a limited downside.
Security of funds
Okex is keeping 95% of the digital assets on the exchange in cold storage to keep hackers from ever reaching your funds. The hot wallet they have uses multiple technical solutions, with online and semi-offline risk management systems. It looks like Okex is taking security very seriously when it comes to the digital assets stored on the exchange.
Poor customer support
I’m adding this to the review specifically because I’ve been trying to contact the Okex support team through the live chat but there is always a long queue and every time I switch pages on the site the live chat disappears and I have to start all over. Very poor experience…
Is Okex a safe cryptocurrency exchange?
Okex is complying with several security features to protect your account from attackers. These features include fund withdrawal password, mobile verification, 2fa verification, anti-phishing code, and email verification. Okex is using cold storage protection for the digital assets they keep on the exchange which is a plus when it comes to security. At the moment we rate Okex Trustworthy since it’s a veteran in the industry and it has a great following without any major incidents.
Is Okex regulated?
Okex is not compliant with any regulation from the government.
Frequently asked questions
Read the most frequently asked questions about Okex. Find answers without searching the web.
Considering that Okex has been around since 2014, keeps developing, and attracts new traders every month we think this is a good exchange to use for trading and investment purposes.
The United States is on the list of restricted countries and Okex doesn't let any US citizens trade on the exchange.
Right now Okex is based in Malta.
You can choose to verify yourself with KYC-documents for higher limits and unlock more features on the exchange trading platform. KYC is a must if you want to buy cryptocurrencies with fiat currencies.