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OKX Review

Last Updated: Oct 2, 2022  |  Published: Apr 11, 2022


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Our Review 

OKX offers 350+ coins, 0.08%/0.10% maker taker fees, and is a top 15 exchange in the world for total trading volume. It's a great platform if you want advanced trading, lots of features overall and low crypto withdrawal fees.

Where It Shines:

  • Competitive Spreads & Fees: Top 15 exchange based on total trading volume, 0.08% maker, 0.10% taker fees, low crypto withdrawal fees
  • Lots of Features Overall: Rewards, staking, DeFi, NFTs, native token, DApp store, P2P exchange and more
  • Advanced Trading: Technical charts, advanced order types, live order books and more

Where It Falls Short:

  • Less Beginner Friendly: Might be overwhelming for beginners compared to other platforms
  • No Fiat Wallets or Fiat Trading Pairs: However, there are 30+ currencies supported for instant crypto purchases with local payment methods
OKX

Overview

Coins Offered

350+

Total BTC Purchase Fee

[coming soon]

Total BTC Selling Fee

[coming soon]

BTC Spread

[coming soon]

Trading Fee

0.08% Maker

0.10% Taker

Fiat Wallets

Not Supported

However, 30+ currencies are supported for instant purchase

BTC Withdrawal Fee

0.0002 BTC

Notable Features

Low trading fees, great U/X, lots of advanced features, high trading volume

Supported Countries

100+

OKX

About OKX

OKX (formerly OKEx) is a Malta and Seychelles-based cryptocurrency exchange founded in 2017. According to CoinMarketCap data, it currently ranks top 15 in the world by trading volume. They have 20+ million users in 200+ countries and their Google Play app has at least 1 million downloads.

On their platform, you'll find 260+ cryptocurrencies, spot trading, derivatives trading, staking features and more. Similar to Binance, OKX also has their own native utility token called OKB which gives you discounts on trading fees and other perks.

Some Stats:

  • Founded in 2017
  • 20+ million users
  • Offices in Malta and Seychelles
  • Supported in 200+ countries

Fees & Spread

Price Test & Spread

Price Test (coming soon)

Prices

Total BTC Purchase Fee

0.00%

Total BTC Selling Fee

0.00%

Trading Fee

0.08% Maker

0.10% Taker

BTC Spread

0.00%

BTC Buy Price

$00,000

BTC Sell Price

$00,000

Ref. Price Difference

Buy:

Sell:

Reference Price (Google)

$00,000

More Information

We tested 20 cryptocurrency exchanges at the same time to compare the true fees. This data was collected on Mar 2, 2022 at 4:41pm and is subject to change since spreads and prices change daily.

  • *Total BTC Purchase Fee = Trading Fee + Buy Reference Price Difference
  • *Total BTC Selling Fee = Trading Fee + Sell Reference Price Difference

Keep in mind, there could be additional fees for depositing/withdrawing fiat. Check fees for your local fiat currency if it is supported on this exchange.

You can compare all platforms tested on this page

Trading Fee Discounts

OKX Trading Fees

Deposit & Withdrawals

Fiat Currencies

Fiat Wallets

(Deposit/Withdrawals supported)

0 (Not Supported)

Credit/Debit Card

Yes (30+ currencies supported)

P2P Exchange

Yes

Crypto Withdrawal Fees

Type

Fee

Minimum Withdrawal

Bitcoin

0.0002 BTC

0.001 BTC

Ethereum

0.0016 ETH

0.01 ETH

USDT

9.79 USDT (ERC-20)

2 USDT

XLM

0.016 XLM

21 XLM

What We Found

OKX does not have any fiat trading pairs or fiat wallets. However, you can make instant fiat-crypto purchases with over 30 currencies. For each currency, they offer a variety of local payment methods like bank transfer, Alipay, PayPal, debit cards, SEPA transfers and more.

For cashing out fiat, only about half of the currencies are available. We recommend looking up your local currency on the buy/sell crypto page to see if OKX is a good fit for you.

Platform & Features

Overall, OKX offers a wide range of features and services to explore.

List of Features:

  • iOS, Android and Web app
  • 350+ Cryptocurrencies
  • Instant Buy and Sell
  • Advanced Trading
  • Margin
  • Trading Bot
  • OKX Earn
  • Loan
  • Jumpstart
  • OKX
  • MetaX (DeFi)
  • Mining Pool
  • OKC Chain
  • And More

1. iOS, Android and Web App

2. Trading Interface

  • Convert - "Quick conversion, no fees, no spreads"
  • Spot Trading
  • Margin
  • P2P Exchange
  • Trading Bot
  • No fiat trading pairs (only fiat-crypto instant purchases)

3. Advanced Trading

4. Trading Bot

5. Earn

6. Loan

7. Jumpstart

8. OKB (native token)

9. MetaX (DeFi)

10. Mining Pool

11. OKC Chain

12. Other OKX Features

  • OKCoin (their U.S. focused and beginner-friendly platform)
  • DOT Slot Auction
  • Rewards
  • Referral/Affiliate Program
  • OKX Broker
  • OKX Bridge
  • API Keys Management
  • Create Sub Accounts

Security

Past Hacks & Incidents

In 2020, OKX suspended withdrawals for 6 weeks because they lost communication with one of their private key holders. Users were outraged but fortunately, it was a temporary issue and no funds were stolen.

To make it right, OKX shared 20% of their transaction fees from that 6 week period with its users.

Company Security Features

  • 95% of funds are held in offline storage
  • Access to their cold wallets requires at least two authorized personnel
  • Private keys are backed up and stored in bank vaults in different regions
  • Systems are scanning 24/7 for suspicious deposits and withdrawals
  • They have various contingency plans and emergency scenarios planned
  • See more here

User Security Features

  • 2 Factor Authentication (for logins and withdrawals via SMS or App)
  • Receive email withdrawal notifications
  • Biometric login (eg. Touch ID)
  • View login history and activity
  • Anti-phishing code for emails
  • Add/remove trusted devices
  • View website status for incidents

Can You Trust Them?

OKX is considered a safe crypto exchange. They have 2FA, hold 95% of funds in offline storage and it's one of the top 20 largest platforms in the world. They've also never lost users funds (founded in 2017).

⚠️ Although this platform is safe, over 50% of platforms we tested have had hacks or incidents in the past. We strongly recommend storing and protecting your crypto on a non-custodial wallet where you own the private keys. Preferably, a reputable hardware wallet like the Ledger Nano X.


Customer Support

OKX offers 24/7 customer support which can be accessed via live chat on the website or in the app. They also have a knowledge centre answering common FAQs and you can view the live website status.

OKX Customer Support

Compared

Compare the world's most popular cryptocurrency exchanges:

Name

Coins

# of Features

Standard Trading Fee

Supported Countries

Fiat Wallets?

BTC Withdrawal Fee

Website

240+

15+

0.10%

190+

No

0.0005 BTC

Binance

Binance 🏆(#1 overall)

600+

30+

0.10%

100+

Yes

0.0005 BTC

150+

15+

0.20%

?

Yes

0.0004 BTC

750+

10+

0.25%

180+

No

0.0005 BTC

50+

5+

0.50%

?

Yes

0.0005 BTC

300+

5+

0.75%

100+

Yes

0.0003 BTC

140+

15+

0.10%

180+

No

0.0005 BTC

170+

10+

3.99%

100+

Yes

Dynamic

110+

5+

0.60%

100+

Yes

Dynamic

30+

10+

0.10%

150+

Yes

0.15%

250+

20+

0.40%

90+

Yes

0.0006 BTC

40+

10+

0%

50+

Yes

0.50%

190+

20+

0.07%

180+

Yes

Free/Dynamic

1000+

30+

0.195%

190+

No

0.001 BTC

60+

15+

1.49%+

60+

Yes

0.001 BTC

60+

10+

0%

100+

Yes

0.0005 BTC

500+

20+

0.20%

130+

Yes

0.0005 BTC

190+

10+

0.26%

190+

Yes

0.00002 BTC

500+

20+

0.10%

190+

No

0.0005 BTC

350+

25+

0.10%

100+

No

0.0002 BTC*

300+

10+

0.155%

100+

No

0.0005 BTC

130+

10+

0%

180+

Yes

0.0003 BTC + $2.99

Best Alternatives

Here are the best crypto exchanges around the world that are supported in many countries. We assessed 21 platforms across 40+ variables and 950+ data points.  

Binance
  • 600+ cryptocurrencies
  • Lowest spreads and fees in the industry
  • Most features in the industry
  • Not beginner friendly
Kucoin
  • Low spreads and fees if you fund your account with crypto
  • 700+ cryptocurrencies
  • Trade anonymously (all you need is an email right now)
  • Not beginner friendly
Crypto.com
  • Best crypto credit cards
  • Earn interest on 40+ coins
  • Lots of fiat currencies supported
  • High spreads
  • User interface
Coinbase
  • Best reputation, publicly traded company
  • Best for beginners
  • Beginner + Advanced trading
  • Very high fees overall
FTX
  • Low trading fees and low overall fees
  • Lots of advanced features
  • Hard for beginners
RankFinance

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OKX

OKX

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