OKX review: Pros, cons, fees & more

Finally, there is also a pretty handy glossary where you can learn about a whole host of terms and information. This could be ideal if you are unfamiliar with certain terms on the platform. And see how OKX Stacks up against other exchanges in our Top Exchanges Compared article. You can get this in your account by heading over to your username and then hitting “API”. Here you will select “My API”, where you will be able to create your own key with the following parameters.

OKX customer support

No, OKX does not offer its services to U.S. citizens due to their strict internal regulations outside the exchange’s control. Therefore, investors will need https://www.tokenexus.com/ to find a licensed trading platform in the USA to invest in cryptocurrency. Customers of OKX have a lot of options when it comes to customer support.

• It is worth noting that if you do need to exceed your limit on a particular day, you can contact customer support and they may increase your daily limit temporarily.
• While cryptocurrency exchange regulations are still in their infancy, OKEx efforts to get a regulatory framework in Malta and in other parts of the world.
• Additionally, the platform supports multiple take profit/stop loss trigger orders on one position, allowing traders to enter/exit a portion of a trade automatically.
• Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.

Deposit & Withdrawal Fees

In this comprehensive OKX app review, we will uncover the pros and cons of the mobile app and help you make an informed decision. From the security measures to the trading fees, we will analyze every aspect of this popular trading app to give you a clear understanding of what it has to offer. The app also emphasizes KYC security measures to minimize the risk of fraud. The OKX mobile app is highlighted as a key aspect that sets the cryptocurrency exchange apart from its competitors. The app is praised for its beautiful design, user-friendly interface, and advanced trading features. It has gained immense popularity among traders and has received overwhelmingly positive reviews across app stores and review sites.

• If you hold over 2000 OKB then you will be placed in the level 5 price tier, the lowest fees available to regular users.
• They also provide their own OKB native coin that you can utilize for a number of exchange-related benefits.
• Other security measures like google authenticator and mobile verification for funds withdrawal add crucial levels of security to the OKEx platform.
• OKX holds the 4th position in trading volume, as per our exhaustive research and detailed OKX review.
• The OKX app supports buying crypto with a card directly from your mobile.
• Samuel Chapman, a writer and editor at Cloudwards, possesses over four years of experience specializing in online security, privacy and cryptocurrency.

OKX Futures Platform

However, if you somehow achieve a 30-day trading volume of more than 5,000 BTC and hold more than 1,000 OKB tokens, you only have to pay 0.09% for the taker and 0.07% for the maker. For more advanced traders, OKX offers a variety of futures contracts, collateralized with Tether or popular cryptos like Bitcoin, Ethereum, Ripple, and Litecoin. Futures are essentially an agreement to buy or sell a cryptocurrency at a predetermined price, at a specified time in the future. With low exchange fees, OKX charges the following fees from traders registered on crypto trading platform. Self-trade refers to a situation where users and their sub-accounts accidentally match their orders, and the users become both the seller and buyer in the trade. The OKX exchange fees include no monthly charges for a trading account.

OKX lets users trade options contracts with expiry dates ranging from 24 hours to the end of the year. Crypto options trading entitles the customer to purchase a set quantity of an asset for a fixed price at a particular date, regardless of market conditions. However, due to this flexibility, a premium is charged even if the user doesn’t exercise the contract. Dive deeper, and you’ll discover an arsenal of advanced trading tools, including stop-loss and limit orders, margin trading, and various technical indicators. This caters to experienced users who crave granular control over their investments. Expect further expansion into global markets, advanced trading features, and the launch of the X1 mainnet, enabling seamless deployment of decentralized applications.

After using the app myself, I found the app to be well-designed and easy to navigate. OKX is a digital asset trading platform with tools and options designed to suit both beginner and experienced traders. For example, if you are a regular user engaging in spot trading, you will get charged 0.10% for takers and 0.08% for makers.

Account Management

The quickest and most convenient method to purchase crypto with fiat is by using a debit or credit card. OKX also supports bank transfers, iDEAL, Advcash, ApplePay, SEPA, Sofort and Google Pay, depending on your location. As is the case with the futures instruments, you have 100x max leverage, and you can choose to margin your position either with coins or with Tether. It is called a “Swap” because you are swapping the returns for one asset for another. OKX terms these instruments at Perpetual Swaps, but they are sometimes called perpetual futures on other exchanges.