OKX Review 2024: Pros-Cons, Features, & Fees at OKX Exchange

It’s slightly better than what you’ll currently get from Binance (see our Binance review for details) but far from an ideal system. The exchange was originally based in Beijing, but when China began to ban crypto trading in 2021, OKX closed its Chinese offices and moved out. Its parent company also owns Okcoin, a smaller exchange based in San Francisco. Our team of experts thoroughly test each service, evaluating it for features, usability, security, value for money and more. Cloudwards.net may earn a small commission from some purchases made through our site.

Creating and Verifying an OKX Account

You can find all of the relevant information on the dedicated trading fee page, on OKEx. The majority of customers claim that the app is very easy to use, has a clear design and is completely glitch-free. That said, if you want to manage your account from the palm of your hand, it’s recommended to download the app and have the ultimate experience. Functionality okex review and the number of supported coins wouldn’t mean anything without security. Imagine having exceptional functions and thousands of cryptocurrencies to choose from, just to one day log into your account and see that all of your cryptocurrencies are gone. Finder monitors and updates our site to ensure that what we’re sharing is clear, honest and current.

Navigating the User Interface

• Follow these steps to get started with the OKX (Previously OKEx) platform.
• Once you have selected the option you want to trade, either through option discovery or All Options, you will have a similar trading interface to the Futures and Swaps.
• OKX has been praised for its beautiful design, user-friendly interface, and advanced features, which cater to a diverse global user base inclusive of both novice and advanced traders.
• The support section on their website doesn’t actually open a ticket; instead, you need to navigate to the “contact” section, which then prompts the chatbot to create a support ticket.
• BitMEX, for instance, also has a ton of liquidity and advanced order types, however, it lacks variety and doesn’t even offer spot trading.

OKX mandates this procedure to uphold the security of user accounts and assets. This verification process is implemented to guarantee the safety of the exchange platform and to deter fraud and illicit activities. With low exchange https://www.tokenexus.com/ fees, OKX charges the following fees from traders registered on crypto trading platform. Through the OKX Snowball, a structured product based on rewards, traders can get up to 60% APR rewards if certain conditions are fulfilled.

Ease of Use and Interface

Before, you can use urdubit to withdraw funds as per OKEx website. Unfortunately, the Bank of Pakistan has prohibited dealing with cryptocurrency since April of this year. Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website. Finally, OKX also allows up to 100x leverage on the BTCUSD futures contract and less for the rest of its 9 total pairs. Traders can find a wide variety of orders here like the traditional limit or stop-limit orders but also ‘Iceberg’, TWAP, or trail orders. Then, create your account by completing the procedure defined via your phone number, email, Telegram, or Google account verification.

OKX, like many crypto exchanges, has its advantages and disadvantages. OKX’s customer service via email is good, it took just 3 hours to get a response. Within my email, I asked the same set of questions as I had on their X account. The replies were more detailed, but still lacked depth and specifics, particularly regarding uptime and security. The first withdrawal attempt was free and completed in less than an hour.

If you have any problems with your account or have a query about a transaction, OKX offers a handy online support center with answers to a wide range of frequently asked questions. However, if you can’t find the answer you’re looking for, you can submit an online support request, open a live chat window or email the company. A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. Unfortunately, OKX is not available to US residents and the exchange has a reputation for offering little in the way of customer service. Trade over 300 cryptos on one of the world’s largest digital asset exchanges. Decentralized exchanges allow traders to be in full control of their money and directly transact with other traders.

OKX Review 2024: Pros, Cons and How it Compares