OKX Review 2024

OKX

OKX is a leading cryptocurrency exchange and trading platform. They support 363 coins across 798 markets.

OKX

In this review, we'll cover everything you need to know before signing up. All the main features, pros and cons, included.

Summary

Pros

  • Low trading fees for high-volume traders.
  • Wide range of supported cryptocurrencies.
  • Advanced trading features and tools.
  • Offers margin trading and futures contracts.
  • Strong security measures including cold storage.

Cons

  • Not available to users in certain countries.
  • Complex interface may be difficult for beginners.
  • Limited customer support options.
  • Requires strong KYC verification for full access.
  • Occasional technical issues during high traffic.

Features

Spot Trading

OKX allows you to trade, buy, and sell, crypto on spot markets. Meaning you're trading the real thing. You can deposit and withdraw this crypto.

Futures Trading

OKX supports futures trading. Derivative contracts that you can trade on leverage without providing margin.

P2P Trading

OKX support P2P trading. Where you trade directly with other people through specific payment methods or giftcards.

Trading Bots

OKX has trading bots that you can use to automate your trading strategies.

Copy Trading

OKX supports copy trading, an automated method of copying other people's trades; great if you're a newbie, or if you're not the best trader.

Staking

OKX allows you to stake your crypto and earn passive income.

Options

OKX supports options trading. Pick a crypto, and guess the direction, if you're right, you earn more crypto.

Margin Trading

OKX supports trading on margin. Leveraged trading where you must put up collateral.

Launchpad

OKX has a launchpad for new, exciting tokens. Often low marketcap tokens that are yet to blossom into maturity.

Money

Fees

Like all centralized exchanges, OKX charges fees. This is how they generate revenue, and keep their operation running.

  • Deposit fees. Fortunately, most centralized exchanges don't charge deposit fees when you deposit with crypto. Though, they charge for fiat deposits, which vary dependant on the payment processor and fiat option that you're using.
  • Withdrawal fees. OKX charges withdrawal fees. They vary based on what you are withdrawing and the payment method that you're using. Crypto withdrawals will also incur network transaction fees, they are not paid for by OKX.
  • OKX's maker fees: 0.08%*
  • OKX's Taker fees: 0.1%*

Maker/taker fees are tiered. As you trade more and generate volume, they often fall.

Payment Methods

OKX supports 4 payment method(s). You can use the following the deposit/withdraw to/from the exchange.

  • Credit/Debit Card
  • Bank Transfer
  • Crypto
  • Apple Pay

Be aware that they may be withdrawal/deposit limits imposed, and the payment methods may also vary based on your location.

OKX supports 46 fiat currencies.

Security

Keeping your funds safe

OKX offers 2 additional layer(s) of security. Aside from the obvious -- email and password.

  • 2FA
  • SMS

KYC

OKX requires KYC to use their services. KYC usually involves sharing your personal details, some form of ID, a mobile phone number, and in some cases, proof of address.