- Low trading fees of 0.1% or less for most trades
- High-interest staking opportunities
- Easy to buy cryptocurrency using a card, bank account, or digital wallet
84.97% of retail CFD accounts lose money
OKX Review 2024
Investing Options:
Products & markets:
Deposits & withdrawals:
Fees & costs:
Platforms & usability:
Safety & reliability:
Research tools:
Educational resources:
In This Guide
OKX Review 2024: A Comprehensive Look at Security, Fees, and Features
OKX (formerly known as OKEx) is a leading cryptocurrency exchange offering a wide range of services, including spot trading, futures, margin trading, and staking. OKX is well-regarded for its low fees, extensive list of supported cryptocurrencies, and advanced trading features, making it a top choice for both novice and experienced traders. In this detailed review, we’ll dive into OKX’s security, fees, and user experience to help you decide if it’s the right exchange for you.
OKX Review 2024
Founded in 2017, OKX has rapidly become one of the most popular global cryptocurrency exchanges. The platform supports over 400 digital assets, offers various trading options, and provides a comprehensive mobile app for traders on the go. OKX’s emphasis on security and competitive fees makes it one of the top exchanges globally.
Highlights:
- Supports over 400 cryptocurrencies.
- Offers futures, margin trading, and staking.
- Low trading fees and various promotions for high-volume traders.
- User-friendly mobile app and desktop platform.
Is OKX Safe?
OKX is known for its strong security measures and commitment to protecting user funds. While no exchange is without risk, OKX has implemented industry-leading security protocols to ensure a safe trading environment.
Key Security Features:
- Two-factor authentication (2FA): Adds an extra layer of protection for account logins.
- Cold storage: The majority of user funds are stored offline in cold wallets, ensuring they are protected from online threats.
- KYC/AML Compliance: OKX requires Know Your Customer (KYC) verification for higher withdrawal limits and compliance with global regulations.
OKX Fees and Charges
OKX is known for its low trading fees, which makes it competitive among top exchanges. The platform operates a maker-taker fee model, where users can further reduce fees by holding and using OKB tokens.
Fee Breakdown:
- Spot trading fees: Start at 0.10% for both makers and takers.
- Futures trading fees: Start at 0.02% for makers and 0.05% for takers.
- No deposit fees, but withdrawal fees depend on the asset and network being used.
OKX vs Binance
Binance and OKX are both top cryptocurrency exchanges, but they serve slightly different user bases. While Binance is the larger of the two, OKX offers lower fees and a broader selection of advanced trading features, including futures, margin trading, and options.
OKX vs Binance Comparison:
- Fees: OKX and Binance have comparable fees, though OKX offers more discounts for high-volume traders using OKB.
- User Experience: OKX provides a user-friendly experience for advanced traders, while Binance caters to both beginners and professionals.
- Trading Features: OKX offers a broader range of futures and margin trading products.
OKX Crypto Platform Review
OKX offers a comprehensive platform with access to over 400 digital assets. Traders can engage in spot trading, margin trading, and futures contracts with various leverage options. In addition, OKX provides staking services and access to DeFi protocols, making it one of the most versatile exchanges for crypto enthusiasts.
OKX Mobile App Review
The OKX mobile app, available on iOS and Android, offers a full suite of trading features. Users can trade spot, margin, and futures contracts, as well as access staking and DeFi services. The app’s intuitive design ensures that even novice traders can navigate the platform easily.
OKX Trading Fees
OKX boasts low trading fees, which start at 0.10% for spot trading and can be reduced by using the platform’s OKB token. Futures trading fees are also competitive, with 0.02% for makers and 0.05% for takers.
Key Features:
- Spot trading fees: Start at 0.10%.
- Futures trading fees: As low as 0.02% for makers and 0.05% for takers.
- Discounts: Users can enjoy lower fees by holding OKB tokens.
OKX Futures Trading Review
OKX offers a robust futures trading platform, allowing users to trade with leverage of up to 100x. OKX’s futures products include perpetual contracts and standard futures for popular cryptocurrencies like Bitcoin, Ethereum, and Solana.
OKX Staking Review
OKX provides users with the ability to earn passive income through staking. By staking various cryptocurrencies, users can earn rewards based on the duration of their lock-up periods. The platform also offers DeFi staking, where users can participate in decentralized finance projects and earn yields.
OKX Security Features
OKX emphasizes security by employing advanced features like two-factor authentication, cold storage, and regular security audits. The exchange also complies with global KYC/AML regulations, ensuring that user funds are well-protected.
OKX Withdrawal Issues
While OKX is generally praised for its smooth withdrawal process, some users have reported delays during high-volume periods. Withdrawal fees vary depending on the cryptocurrency being withdrawn and the blockchain network used.
OKX vs Kraken
Both OKX and Kraken are well-established exchanges, but they cater to different types of traders. Kraken is known for its security and regulatory compliance, while OKX offers more advanced trading tools like futures and margin trading.
OKX Customer Support Review
OKX provides 24/7 customer support through live chat, email, and an extensive help center. While the platform generally receives positive reviews for its support, some users have experienced delays during peak trading times.
OKX for Beginners
Although OKX offers advanced trading tools, it remains accessible to beginners through its simplified spot trading interface and user-friendly mobile app. New traders can start with spot trading and gradually explore more advanced features like futures and staking.
OKX Account Verification Process
To comply with global KYC/AML regulations, OKX requires users to complete an account verification process. Verification typically involves submitting identification documents and can take anywhere from 24-48 hours to complete, depending on the volume of requests.
FAQs
Yes, OKX is considered safe thanks to its cold storage, two-factor authentication (2FA), and compliance with KYC/AML regulations.
OKX charges 0.10% for spot trading and 0.02% for futures trading. Discounts are available for users who hold and use OKB tokens.
Yes, OKX Futures offers leverage of up to 100x for trading perpetual and standard contracts on a wide range of cryptocurrencies.
OKX offers lower fees for high-volume traders and a broader selection of futures and margin trading products, while Binance supports a larger global user base and more assets overall.
More Trading Platform Reviews
- eToro review
- Libertex review
- Plus500 review
- Capex review
- AvaTrade review
- Capital.com review
- Immediate Edge review
- Ethereum Code review
- Perceptrader AI review
- Trader AI review
- Waka waka AI review
- Cryptohopper review
- Neoprofit AI review
- Immediate AI review
- Immediate Connect review
- Quantum AI review
- Finance Phantom AI review