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.
• 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
• Very poor customer support under high workload
• Lacks a proper educational hub
In this section of our OKX review we highlight 6 special features that deserves extra attention.
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.
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
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 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.
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.
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
OKX Funding Methods
OKX Withdrawal Fee
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.
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.
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.
- LinkedIn – “OKX Company“
- Trustpilot – “OKX.com“
- Yahoo Finance – “Manchester City Announces Partnership With Crypto Exchange OKX“