OKX stands as one of the most reliable centralized crypto exchanges (CEX) on the market, recognized as the best CEX of 2024 by the Trading View Awards. With a global user base exceeding 60 million and ranking among the top five exchanges worldwide by trading volume, it distinguishes itself through a broad array of services and features. This review provides a detailed look into what makes OKX a leading platform.
Our Assessment of OKX
| Criteria | Fees | Assets | Features | Security | Support | Overall Score |
|---|---|---|---|---|---|---|
| Rating | 5/5 | 5/5 | 5/5 | 4/5 | 4/5 | 4.6/5 |
OKX excels in offering competitive fees, a vast selection of cryptocurrencies, and diverse trading tools. Its security measures and customer support are robust, though there is always room for improvement in these areas.
What Is OKX?
OKX, originally launched as OKEx in 2013, is a major centralized cryptocurrency exchange. It provides spot trading, staking, and trading bots to its millions of users. The platform caters to both professional traders and beginners, offering operations ranging from trading over 250 pairs to on-chain staking activities.
The History and Evolution of OKX
OKX traces its origins to 2013 as part of OK Group, a blockchain technology enterprise. It began operations as OKEx in 2017 after its founder established its headquarters in Seychelles. In 2022, the exchange removed the "E" from its name and rebranded to OKX.
The parent company, OK Group, has roots in Hong Kong and Singapore. Its European headquarters is in Malta, where it offers regulated crypto services, localized payment methods, and support to over 400 million users in the 28 European Economic Area (EEA) member states.
OKX is registered as a crypto asset service provider with the Malta Financial Services Authority (MFSA) under the European Union's Markets in Crypto-Assets (MiCA) regulation framework. This allows it to offer fully compliant and tailored services to European users.
Key Features of OKX
Operating in 180 countries, OKX provides a comprehensive suite of services with over 250 cryptocurrency tokens and more than 300 trading pairs, including over 60 euro-based pairs. The platform has received perfect security and reliability scores from aggregators like CoinGecko, backed by largely positive user reviews.
Cryptocurrency Trading on OKX
The platform offers two primary methods for buying crypto: direct purchase with a debit/credit card or depositing local currency via bank transfer (SEPA) or PayPal.
Trading Interface
OKX offers an intuitive trading interface where users can view charts, place market or limit orders, check the order book and market depth, and even switch between spot trading and automated bots. For TradingView users, OKX allows direct integration to trade on the platform.
OKX Earn
Like many other CEXs, OKX enables staking activities with more than 30 tokens to generate passive income. The platform offers flexibility, allowing users to adjust their exposure based on their needs.
Did you know OKX has two native tokens? OKB is a utility token, while OKT is linked to OKT Chain, a Layer-1 blockchain.
Converter and Calculator Tools
The OKX converter allows for fee-free cryptocurrency exchanges, which is useful for quick trades. Additionally, the fee calculator helps users understand the real profitability of their operations.
Trading Bots
Using automation software is common in both traditional and crypto markets. OKX's trading bots are designed to meet the growing demand for tools that help identify buy/sell opportunities and speed up transaction execution.
These bots leverage the full potential of algorithmic trading and signal-based operations. However, using bots does not guarantee profits and can lead to substantial losses if not configured correctly.
API Trading Support
For those looking to set up a trading platform, OKX provides APIs related to these services. It also offers market-making, ramp, and exchange services for institutional clients.
User Experience on OKX
OKX is user-friendly and accessible via both web and mobile applications (iOS and Android). The company places great emphasis on user experience, offering educational resources and a straightforward sign-up process. Opening an account requires only an email address or phone number.
The mobile app allows users to switch between "OKX Simple" mode and "OKX Exchange" mode, catering to different experience levels with digital assets.
The Academy Section
For those new to cryptocurrencies, OKX offers a comprehensive educational program. This includes tutorials on various aspects and tools, such as generating passive income, trading cryptocurrencies, and analyzing NFTs.
The platform provides a wide range of training content, including guides created by industry experts. The ability to switch between exchange and simple modes allows for a smooth adaptation to the platform's tools.
Trading Limits on OKX
For casual or low-volume trading, limits are generally not an issue. For advanced traders, however, this is a crucial factor. OKX sets these limits based on deposit volume.
If a user can deposit amount "X," they can trade up to amount "X." Withdrawal limits depend on the verification level. As with other CEXs, enhanced KYC allows for larger withdrawals.
Deposits can be made via ramps supporting a wide range of fiat currencies. Withdrawals can be processed through off-ramps, either by converting crypto to fiat or transferring funds to an external wallet.
Fee Structure on OKX
Different fees apply for makers and takers. Makers create orders that do not execute immediately, providing liquidity to the market. Takers execute orders immediately, removing liquidity.
Spot trading fees are 0.080% for makers and 0.100% for takers at Level 1, decreasing as trading volume increases.
Deposits and withdrawals in fiat currencies are fee-free. Withdrawal fees depend on the type of cryptocurrency and the chain to which the asset is transferred.
It's important to note that fees are lower for VIP users, those holding large quantities of OKB tokens, and users with high 30-day trading volumes.
Is OKX a Secure Exchange?
OKX is one of the leading CEXs by trading volume and is widely considered one of the most reliable exchanges in the sector. Key security factors include:
- Adherence to various security standards, including cold storage, 2FA authentication, and OTP login.
- Compliance with international regulations, including anti-money laundering (AML) and counter-terrorism financing (CTF) measures.
- Possession of a MiCA license (European Crypto-Asset Regulation).
- Transparent fee structure and excellent customer support.
- Account protection with OKX Protect.
- Publication of proof of reserves.
However, it's crucial to remember that an exchange is only as secure as your actions. Always use caution when trading, as market volatility, third-party risks, and smart contract vulnerabilities can lead to financial losses.
Pros and Cons of OKX
Advantages:
- Competitive fees
- Wide range of cryptocurrencies
- Diverse trading options: spot, trading bots, and staking
- High security standards
- Partially decentralized ecosystem
- Good customer support
- Innovative wealth-generation options like Earn
Disadvantages:
- May seem complex for new users due to the diversity of services
- Fee structure can appear complicated
Customer Support at OKX
A complete exchange review must include customer service evaluation. OKX offers:
- Direct communication in multiple languages via email (responses typically within 24 hours)
- Live chat with real-time support
- Extensive FAQ section and guides
- Multilingual support
- Active social media presence
- An active community to help traders and crypto enthusiasts
Regulation and Compliance
OKX operates under international regulatory standards, complying with AML and CTF measures. In addition to its security protocols, OKX obtained the MiCA license in January 2025, becoming the first crypto exchange to receive this accreditation. This license is required for Crypto-Asset Service Providers (CASPs) and issuers to operate in the European Union.
OKX also holds an active VDA license allowing operations in Dubai and has applied for a VDA license in Hong Kong, which could open doors to new users.
Is OKX a Good Choice for Traders?
This review has covered the general aspects of one of the highest-volume trading exchanges on the market. We highlighted its advantages and addressed some drawbacks, such as potential complexity for newcomers.
The list of positive aspects is extensive, including minimal fees, strong security, a partially decentralized ecosystem, and reliable customer support. 👉 Explore more strategies for successful trading
Disclaimer: Centralized exchanges offer a great entry point into the crypto market, but it is important to invest responsibly. This review is not intended as investment advice and does not constitute an official endorsement of the platform. Readers should conduct their own research and consider their financial goals before making investment decisions.
Frequently Asked Questions
What is OKX?
OKX is a leading centralized exchange that has provided cryptocurrency exchange services since 2013. Over the years, it has expanded its Web3 and crypto product offerings, competing with renowned exchanges like Binance.
Is OKX a safe exchange?
As of 2024, OKX has not experienced any hacks or leaks of user information. It maintains a solid reputation among users and stays updated with regulations in the countries where it operates, being registered in eight jurisdictions.
Where is OKX based?
OKX is a global cryptocurrency exchange founded in 2017. While the main platform serves users worldwide, residents of the European Economic Area (EEA) can access its services through Okcoin Europe Ltd, a entity licensed in Malta by the MFSA. This entity is MiCA-licensed as a CASP, ensuring full compliance with EU regulations.
Is OKX a Chinese company?
OKX was registered in Hong Kong, China, but its headquarters are in Seychelles to comply with international regulations. It was initially launched as OKEx and is part of OK Group, a company founded by Star Xu, which is based in China.
Can I withdraw funds from OKX?
Yes, withdrawing funds from OKX is straightforward. For advanced verification (Stage 2 with a selfie), the exchange allows withdrawals of up to 1,000,000 USD per day.
Who owns OKX?
Star Xu is the founder of OKX. The leadership team is headed by Hong Fang, Peter Chang, and Jason Lau.
Can I buy BTC on OKX?
Yes. You can easily buy Bitcoin or any other cryptocurrency within minutes using EUR or USD. OKX supports various popular payment methods, including SEPA, Visa and Mastercard credit cards, international wire transfers (USD only), and other local options. 👉 View real-time trading tools