OKX Review 2022: Security, Fees & Special Features

Chief Editor
Publish date: Feb 24, 2021
Last updated: Apr 19, 2022

The web’s most detailed review of OKX: When blockchain and crypto meet trading and finance, there is OKX. Learn why over 100 countries and many millions have kept trading on this veteran trading platform since 2014. OKX offers both quick swapping between altcoins as well as margin trading products for advanced traders. Through their finance tab, you can choose between cryto loans and ways to earn cryptocurrencies passively. Read the full story of OKX in this review.

Our rating:
3.56/5
Trustworthy
Non-Regulated
Malta flag
OKX
Founded May 2014
Owner Aux Cayes FinTech Co. Ltd
Type Cryptocurrency Exchange
Fees 0.10%
account minimum 20$
Best for All Traders

Pros

• Option to use several financial crypto solutions like earning, mining, lending, and loans
• Option to try the trading platform on a demo version before you start with real money
• Trusted by millions and has been around since 2014, this is a good sign for any exchange

Cons

• Non-regulated
• Very poor customer support under high workload
• Lacks a proper educational hub

Why OKX

In this section of our OKX review we highlight 6 special features that deserves extra attention.

Trusted by traders and investors for over 5 years on the market has earned this platform the veteran status.
Veteran Trading Platform
Trusted by traders and investors for over 5 years on the market has earned this platform the veteran status.
This platform has extra security features such as cold storage wallet or insurance funds for maximum safety.
Security Of Funds
This platform has extra security features such as cold storage wallet or insurance funds for maximum safety.
This exchange offers mining services. Join pools and earn profit in the form of cryptocurrencies.
Mining
This exchange offers mining services. Join pools and earn profit in the form of cryptocurrencies.
Collect free rewards when completing small tasks or reaching a trading goal. You keep everything you earn!
Promotions
Collect free rewards when completing small tasks or reaching a trading goal. You keep everything you earn!
Invest capital in a system created by this trading platform. Potential to earn passive income with profit assurance.
Investment Product
Invest capital in a system created by this trading platform. Potential to earn passive income with profit assurance.
Increase the size of your positions and access more trading capital with margin orders. Be mindful of the risk.
Margin Trading
Increase the size of your positions and access more trading capital with margin orders. Be mindful of the risk.

About OKX

OKX 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 Seychelles like many other cryptocurrency exchange platforms. Traders from over 100 countries have used this exchange and it’s processing several billions of trading volumes daily.

Why use OKX

OKX 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 OKX

Day trading and swing trading are what’s on the menu on OKX. 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 OKX and it’s something worth checking out. On the OKX 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 OKX 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 OKX since it’s a cryptocurrency exchange and all withdrawals have to be done in BTC.

Costs:4.2/5
Security:3.5/5
Trading Features:3.8/5
User-friendliness:4.2/5
Educational Resources:4.0/5
Mobile-Friendly:4.5/5
Funding:4.0/5
Customer Support:3.5/5

Things we don’t like

There is one thing that I dislike about OKX 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 OKX 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.

OKX Trading Fees

Products
Maker fee
Taker fee
Cryptocurrency
0.08 %
0.10 %
Futures
0.02 %
0.05 %
Options
0.02 %
0.05 %
Swaps
0.02 %
0.05 %
ICO
$0
$0

Products

Cryptocurrency
Cryptocurrency
Futures
Futures
Options
Options
Swaps
Swaps
ICO
ICO

Trading Platforms

Webtrader
Webtrader
Own trading platform Windows + Mac
Own trading platform Windows + Mac
Tradingview
Tradingview

Order Types

MO - Market Order
LO - Limit Order
SM - Stop Market
SL - Stop Limit
OCO - One Cancel Other
TO - Trigger Order
TP - Take Profit
SL - Stop Loss
TSL - Trailing Stop Loss
RO - Reduce Only
PO - Post Only
FOK - Fill or Kill
IOC - Immidiate or Cancel
SC - Stop Conditional
IO - Isolated Order
CO - Cross Order

Supported Devices

Desktop
Desktop
Smartphone
Smartphone
Web
Web
Tablet
Tablet

Special Features

2FA Verification
Leverage Trading
Customisable Interface
Real Stop Loss
Technical Indicators
Advanced Trading Platform
Advanced Trading Tools
Advanced Charting
Buy Cryptocurrency
Altcoins
Instant Deposits
Staking
Cryptocurrency Wallet
Paper Trading
Lending
Demo Account
Trading App
KYC
Short Selling
VIP Account
Several Account Types
Institutional Trading
Cold Storage Wallet
Market Analysis
Market Making
Education

About the special features on OKX

OKX 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. OKX 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. OKX 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 OKX 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

KYC is an option on OKX 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 OKX offers.

Free Bitcoin

On OKX 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 OKX platform. To be able to start earning free BTC you need to verify your identity and mobile phone.

Cryptocurrency options

You can trade real cryptocurrency options on OKX 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

OKX 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 OKX 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 OKX 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…

Our own experience with OKX

N/A

OKX Funding Methods

Bank transfer
Bank transfer
Visa
Visa
Mastercard
Mastercard
Apple Pay
Apple Pay
iDEAL
iDEAL
Sofort
Sofort

Accepted Currencies

USD ($)
CNY (¥)
EUR (€)
ARS ($)
AUD ($)
BGN (лв.)
BRL (R$)
CAD ($)
CHF (CHF)
COP ($)
CZK (Kč)
GBP (£)
DKK (kr.)
HRK (HRK)
HUF (Ft)
HKD (HK$)
IDR (Rp)
INR (₹)
JPY (¥)
KRW (₩)
KZT (₸)
CLP ($)
MXN ($)
NOK (kr)
KES (Ksh)
TZS (TSh)
NZD ($)
PHP (₱)
PLN (zł)
MAD (د.م.‏)
RUB (₽)
AED (د.إ.‏)
SGD ($)
SEK (kr)
THB (THB)
TRY (₺)
TWD ($)
UAH (₴)
VND (₫)
ZAR (R)

Limits

Max Withdrawal Limits
BTC 500 daily
Min Withdrawal Limits
$0.01
Min Deposit Limits
$20

OKX Withdrawal Fee

Method
Fee
N/A
N/A

Languages

United Kingdom
English
China
Mandarin (Chinese)
Spain
Spanish
France
French
Russian Federation
Russian
Thailand
Thai
Vietnam
Vietnamese
Indonesia
Indonesian (Bahasa Indonesia)
Turkey
Turkish
Portugal
Portuguese

Restricted Countries

Hong Kong
Cuba
Iran, Islamic Republic of
Korea, Democratic People"s Republic of
Sudan
Malaysia
United States
United States Minor Outlying Islands
Puerto Rico
American Samoa
Gambia
Virgin Islands, U.S.
Bangladesh
Bolivia
Ecuador
Kyrgyzstan
Malta

Security

Is OKX a safe cryptocurrency exchange?

OKX 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. OKX 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 OKX Trustworthy since it’s a veteran in the industry and it has a great following without any major incidents.

Is OKX regulated?

OKX is not compliant with any regulation from the government.

Support

Phone Number
Phone Number
+12267984487
Live Chat
Live Chat
Contact Form
Contact Form

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Frequently asked questions

Read the most frequently asked questions about OKX. Find answers without searching the web.

Considering that OKX 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 OKX doesn't let any US citizens trade on the exchange.

Right now OKX 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.

Review Sources

The editorial team of Trading Browser is required to use first-hand sources to collect and share information regarding the businesses we promote. Among these sources, you will find LinkedIn profiles, Trustpilot reviews, Sitejabber ratings, whitepapers, government reports, and other reputable sources. Below is a shared list of the article sources used for this review.

  1. LinkedIn – “OKX Company
  2. Trustpilot – “OKX.com
  3. Yahoo Finance – “Manchester City Announces Partnership With Crypto Exchange OKX