OKX: Professional Crypto Exchange
OKX is a good rival of Binance, that provides tools and services specifically for advanced traders. Availability of large number of tradable assets and low fees makes this platform ideal for crypto investors. Features like bot trading allow professional traders to earn good profits using specific trade strategies.
OKX is suitable for professional traders who can use advanced order types. Both manual trading and automated trading options are available. You can also use this platform for margin and derivatives trading.
Pros and Cons
| Pros | Cons |
| More than 300 tradable crypto | Difficult for beginners |
| Low fees for spot trading | Limited payment options |
| Bot trading and copy trading | |
| Crypto staking feature | |
| Very secure platform | |
Trading Fees
OKX takes low transaction fees. You can get further discount by becoming VIP user and by holding specific OKB coins. Here’s the fee structure for regular users.
| Tier | Total OKB Holding | Assets (USD) or 30-day Trading Volume (USD) | Maker Fee | Taker Fee | 24h Crypto Withdrawal Limit (USD) |
| Lvl 1 | < 100 | < 100,000 / < 5,000,000 | 0.080% | 0.100% | 10,000,000 |
| Lvl 2 | ≥ 100 | < 100,000 / < 5,000,000 | 0.075% | 0.090% | 10,000,000 |
| Lvl 3 | ≥ 200 | < 100,000 / < 5,000,000 | 0.070% | 0.080% | 10,000,000 |
| Lvl 4 | ≥ 500 | < 100,000 / < 5,000,000 | 0.065% | 0.070% | 10,000,000 |
| Lvl 5 | ≥ 1,000 | < 100,000 / < 5,000,000 | 0.060% | 0.060% | 10,000,000 |
Here’s the fee structure for VIP users.
| Tier | Assets (USD) or 30-day Trading Volume (USD) | Maker Fee | Taker Fee | 24h Crypto Withdrawal Limit (USD) |
| VIP 1 | ≥ 100,000 / ≥ 5,000,000 | 0.045% | 0.050% | 12,000,000 |
| VIP 2 | ≥ 500,000 / ≥ 10,000,000 | 0.040% | 0.045% | 16,000,000 |
| VIP 3 | ≥ 2,000,000 / ≥ 20,000,000 | 0.030% | 0.040% | 20,000,000 |
| VIP 4 | ≥ 5,000,000 / ≥ 100,000,000 | 0.020% | 0.035% | 24,000,000 |
| VIP 5 | ≥ 10,000,000 / ≥ 200,000,000 | 0.000% | 0.030% | 30,000,000 |
| VIP 6 | — / ≥ 500,000,000 | -0.002% | 0.025% | 36,000,000 |
| VIP 7 | — / ≥ 1,000,000,000 | -0.005% | 0.020% | 40,000,000 |
| VIP 8 | — / ≥ 5,000,000,000 | -0.005% | 0.015% | 40,000,000 |
Trading Experience
The trading interface is well-structured and user-friendly though beginners still need to familiarize themselves with order book system and various order types. Three types of charts are available including original OKX’s chart, TradingView and Depth chart. There are multiple customizable technical indicators for studying the price movements. Users have the option to choose from multiple order types including limit, market, and advanced types like TP/SL, trailing stop, trigger, advanced limit, iceberg and TWAP. These are suitable for algorithmic and institutional traders who execute large orders using optimized strategy.
Furthermore, OKX provides trading data of various markets and arbitrage data too. These can be very useful for analysing the market sentiment and for managing the risk. The unique thing is that OKX offers wide range of trading bots such as DCA, grid, and arbitrage bots. The platform is mostly tailored to advanced traders while beginners can use the copy trading feature if they don’t have experience in automated trading.
Other Features
OKX’s Simple Earn feature is a great way to earn rewards. It uses blockchain staking and other strategies to generate rewards for users based on specific APR rate. The APR offered by this platform are significantly higher than that offered by other staking platforms. On-chain staking is another option for staking crypto.
Dual-investment products are another great tool to earn money. These products offer very high APR rate. In the process, you buy specific asset at low price and sell at high and earn extra interest. OKX offers comprehensive tools to earn passive income with crypto.
Customer Service & Satisfaction
OKX provides multiple channels for customer support including live chat and email. The platform provides extensive FAQ section and educational resources if users have any queries. 50 reviews have been posted on G2 about OKX which makes its overall rating at 4.7 out of 5. Many customers admire the user-friendliness, fast trade execution, low trading fees and overall reliability of platform. Some of the customers have also raised concerns about slow-speed P2P trading. Interestingly, almost all reviews are very positive, unlike reviews of other crypto exchanges.
Company Overview
OKX was founded by Star Xu in 2017 and is based in Seychelles. Star Xu whose full name is Xu Mingxing, founded the OK group which also includes OKX company. The group has expanded to provide multiple financial services. The OK group has played an important role in bringing technological advancements in blockchain ecosystem which helped to build advanced crypto trading services. Another significant achievement is building security infrastructure which implements multi-layered security protocols, and advanced encryption, all of which earned the OKX, SOC 2 Type II Certification. The advanced trading features like margin, derivatives and bot trading has helped the platform gain popularity. Now, there are around 50 million users worldwide.