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OKX Review 2023

OKX screenshot

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

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

OKX Overview

OKX was built by Star Xu in 2017, and has been in operation since.

The exchange is based in Seychelles, and serves many customers all over the world. Provided you're in one of the supported countries, you're free to trade.

OKX Services

  • 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.

OKX Payment Methods

OKX supports 29 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 over 46 fiat currencies: AED, ARS, AUD, AZN, BRL, CAD, CHF, CLP, COP, CZK, EGP, EUR, GBP, GHS, HKD, HRK, HUF, IDR, ILS, INR, ISK, JPY, KES, KRW, KZT, MXN, NGN, NOK, NZD, PEN, PHP, PLN, RON, RUB, SAR, SEK, SGD, THB, TRY, TWD, UAH, UGX, USD, UYU, VND, ZAR.

OKX Security

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

    OKX requires KYC to use their services. KYC usually involves sharing your full details, some form of ID, and a mobile phone number.

    OKX Fees

    Like other 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.

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