OKX review 2023: Pros, cons, fees & more

okex review

If you would like to track your deposit, you can use a blockchain explorer. Ok, once you are ready to try out OKX you will need to create an account. You can hit “Sign Up” and sign up using an email address, phone number, or link to a Google account when you are on the website. They have expiries that are weekly, bi-weekly, https://www.tokenexus.com/ Quarterly, and Bi-quarterly. To be honest, unless audits are done in real-time on an up-to-the-minute basis, one can only rely on the integrity of the exchange. If you have time to spare and want to verify what OKX has, you can get a list of OKX’s public addresses and run them on Github to check the data.

  • We further recommend that you should seek professional financial independent advice before you obtain any of the services or products referred to within this Website.
  • However, with 187 more derivative pairs on the platform, the total number of tradable instruments on OKX is 916, which is impressive and will suit altcoin traders specifically.
  • What you’re really verifying is that the information presented in the Tree is correct.
  • Customers can use 109 cryptocurrencies, including Bitcoin, Ethereum, and XRP, as collateral, meaning customers have a great deal of customizability.
  • Due to its high limits and live data, OKX is ideal for beginners looking to improve their skills and experienced traders aiming to build a winning strategy.

Finally, there is a dropdown at the top of the charts where you can observe the “Greeks” of the options. These are basically the factors that determine the option price sensitivity. We won’t go into the specifics of the Greeks here, but Guy did a complete video on that. Using the Options Discovery tool will also draw you out a neat payoff diagram where you can see the profit/loss that will incur for said option. Once you are OK with the set parameters, it will take you to the market for the said option. When it comes to the options platform, the layout is similar, although the functionality is quite different.

OKX Community & Academy

It also has a built-in trading bot to execute orders with specific rules. We independently evaluate all recommended products and services. In this OKEx exchange review, we’ll find out everything about the platform – its functionality, main pros and cons, and so much more. Essentially, you’ll find out if the platform is as good as the company claims. Therefore, you can use the platform from anywhere globally and understand best in a language except a few countries.

  • Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors.
  • For those of you who like to code trading algorithms or use trading bots, you will be happy to know that OKX has a pretty robust API with a number of endpoints.
  • Also, it has been around for quite some time, and if it were a scam, it would have been exposed a long time ago.
  • Or check out our individual detailed reviews for the Ledger Nano X, Trezor Model T and KeepKey.

We use dedicated people and clever technology to safeguard our platform. Users from a few other countries not on the list are also not allowed to use OKX services. With this product, you don’t have to deal with the hard learning curve that comes with DeFi protocols. Users can earn passive income by staking DeFi, providing liquidity to lending pools, and participating in decentralized exchanges. Users can trade, swap, mint, and store crypto and NFTs using the wallet.

Crypto Essentials

If there’s a coin you’re looking for, there’s a good chance you’ll find it at OKX. Win up to $10,000 when you complete a deposit of more than $50 through a crypto purchase or top-up within 30 days of registration. While it seems that OKEx has it all, newbies can find it really difficult to use. That’s because the platform has so many extensive features that require knowledge to understand. Thus, you’d probably agree with me that OKEx fees are really competitive.

If you palace an order into the order book, you’re a “maker” and will pay a lower fee. The reverse is the case for “takers,” who take the trades of others. One of OKEx’s many benefits is that the platform supports different coins and currencies – whether for payments, transactions, or trading activities.

Changed KYC rules but eventually allowed withdrawal.

While the web browser version is potentially a good option for you if you are not an active trader, you may be more comfortable using the OKEx desktop or mobile app for regular use. OKEx also offers an earning platform where users can earn interest on their crypto portfolio. You get extra money in your crypto wallet when you lend out your cryptocurrencies or stake them in projects to secure a blockchain network. There are several great projects you can put your crypto on to make some extra income.

okex review

Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. It’s worth noting that both fee tables above are needlessly different for futures, perpetual swaps, and options okex review transactions. OKX also has a unique loyalty program that rewards regular use of its mobile app. Every day, five new “learning missions” are posted to the app, which require watching a video or reading an article.

OKX Exchange Fees

This is unfortunate, as OKX is one of few exchanges that offer such a wide selection of tokens and crypto mining options. OKX is registered in Hong Kong and Malta and offers VFAA-compliant trading services. VFAA, or the Virtual Financial Asset Act, is a regulated authority under Malta Financial Services. As for security, it is one of the safest cryptocurrency trading platforms in the world that has never been hacked and thus has no negative reviews against it.

okex review

The OKX trading platform offers a user-friendly mobile application that can be easily downloaded from the Apple Store or Google Play. The security, usability, competitive trading fees, excellent customer service, and high liquidity are some points that have yielded commendable performances for OKX. Thus, it has become the best cryptocurrency exchange in the crypto world, offering impeccable trading experience.

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