Newsletter
Summary
In 2025, OKX is one of the largest cryptocurrency exchanges in the world, second only to Binance in terms of spot trading volume. By median daily volume, which is about $2.57 billion, OKX ranks 6th globally.
It has a global reach, serving over 50 million users across markets like Asia, Europe, and the Middle East. Its trading volume of around $255 million shows its strength and power in the crypto trading space. OKX also offers a wide range of blockchain and crypto services. Traders choose OKX for its diverse trading options, competitive fees, and user-friendly design.
This comprehensive guide will help you decide whether OKX is the right choice for you or not. To help you determine that, we’ll look into factors such as wallet security and safety features, listed tokens, fees, payment methods, and ease of use for beginners.
By the end, you’ll know if OKX is the right choice for you or not.
Features
Ease of use
Customer support & Security
Fees
4.4
(Overall Rating)
Key Features
- Interactive UX and Seamless Navigation
- Easy borrowing and lending
- Variety of order types for different trading strategies
- Diverse Trading Pairs for a Diverse Portfolio
- Fiat Deposits: OKX allows users to deposit fiat currencies, such as USD, into their accounts and buy crypto from them.
- Advanced OKX Trade Types: It is ideal for experienced traders as it offers numerous advanced trading options, including margin trading, futures, and trailing stop orders.
- Low Fees: OKX is among the ones offering the lowest crypto trading fees in the market, ranging from 0.1% to 0.2%. It significantly depends on the trader's monthly trading volume.
- High Liquidity: The platform has higher liquidity, making it an excellent choice for trading significant amounts of cryptocurrency.
- Crypto Staking and Lending: It offers lucrative staking programs and lending services that enable users to earn rewards and interest on their crypto holdings.
- Security Concerns: A notable security incident in 2020 resulted in the suspension of withdrawals for several weeks. This stands as a risk further as well.
- Complicated Fee Structure: New traders and investors may find OKX's fee structure complex and challenging to understand.
- Not Beginner-Friendly: It is mainly focused on experienced traders. Its advanced trading and financial features and services may overwhelm newcomers.
What is OKX Crypto Exchange?
OKX opened its doors in 2017. Star Xu founded it, and it was formerly known as OKEx. Over the years, it has become a popular crypto exchange that facilitates trading and investing.
While the company is primarily based in Seychelles, it’s consistently trying to break into the US crypto market and gain prominence in North America.
OKX Features: A Comprehensive List
OKX offers a wide range of features. These features include:
Buying & Selling Cryptocurrencies
OKX lists over 360 cryptocurrencies with over 758 trading pairs, allowing users to explore a diverse range of cryptocurrencies that can be traded instantly. This allows users to diversify their portfolio holdings, given if they’re not using OKX for daily trading.
Trading Order Types
OKX offers various types of trading orders, each tailored to different trading strategies and designed to cater to different traders. These are:
- Market Order: This executes buy/sell crypto orders at the current market price.
- Limit Order: This helps the users to set buy/sell orders at a specified price. This order is then executed immediately when the market reaches the set price.
- Stop Order: It is triggered when the crypto price reaches the specified price. This then leads to the execution of a second order.
- Trailing Stop Order: It also acts like a stop order. However, it allows an adjusted trigger price as the market moves in the trader’s favor.
- Trigger Order: It is executed when specific conditions are met, such as reaching a certain price level.
- Advanced Limit Order: It offers enhanced options such as “Post Only,” “Fill or Kill,” and “Immediate or Cancel”. Providing users with enhanced control over orders.
Users can trade cryptocurrencies on OKX’s well-designed, dedicated trading interface, available on both desktop/laptop and mobile devices. The trading interface makes it easier for traders to access drawing tools and technical indicators, which gives them a better understanding of the market.
If you’re a trader looking for a leverage trading platform, OKX is a good option. It supports spot, futures, and options trading, as well as futures trading bots. The exchange offers up to 125x leverage and hundreds of derivative pairs/contracts, ensuring professional traders have plenty of markets to analyze and many opportunities to find.
Supported Wallets, Products & Custody
Due to OKX being a centralized exchange, OKX users get to access a custodial exchange wallet. This enhances features, but it can have a massive impact on the platform’s security. However, the custodial wallet supports every crypto on the exchange but cannot be used to store Non-Fungible Tokens (NFTs).
Users can download OKX’s Web3-compatible keyless wallet. With this feature, the risk of a user accidentally revealing their recovery code is minimized. OKX has a built-in NFT marketplace and supports over 130 chains, making it highly versatile.
Earning and Lending
OKX also offers staking and structured earning products that reward users for holding digital assets. These options include:
- On-Chain Earn: Stake Solana or Ethereum to earn up to 5% APR.
- BTC Yield+: Generate an average of 2.14% APR on Bitcoin holdings, with rewards paid in BTC.
- Simple Earn: A beginner-friendly option offering up to 150% APR by allowing OKX to lend users’ assets for loans or margin trading.
- Crypto Loans: Borrow against crypto holdings without triggering a taxable event. Loans are flexible, paid in crypto, and approved instantly, with 1-5% APR and variable Loan-to-Value (LTV) ratios.
While OKX lacks liquidity farming or mining options, users can still earn up to 6% APR by lending USDT through the OKX lending tool.
How to Set Up An Account on OKX?
Creating an OKX account is quick and can be done through either the mobile app or the desktop platform.
Step 1: Download or Access OKX and Create an Account
The first step is to download the OKX app on your phone or visit their official website. To create an account, register with your email and phone, then complete the verification process by activating your account.
Step 2: Complete Identity Verification (KYC)
OKX requires all users to complete the Know Your Customer (KYC) process. This verification is mandatory to enable key features such as deposits, withdrawals, and trading.
Step 3: Explore the Platform
Once logged in, you’ll have access to OKX’s full suite of tools, which will help you to trade cryptocurrencies effectively, withdraw and deposit money, and earn a passive income.
Is OKX Legit - Exchange Security Features
Crypto exchanges manage sensitive user data and large asset volumes, making security a top priority. OKX employs multiple layers of protection to safeguard users and platform integrity. These security features include:
Account Security: OKX enforces mandatory Two-Factor Authentication (2FA) via authenticator apps, SMS, or WhatsApp. Users can also set anti-phishing codes, passkeys, and withdrawal address whitelists for added protection.
Platform Protection: OKX uses multi-party authorization, semi-offline hot wallets, and off-site backups to reduce hacking risks. It also maintains a $2.7B+ insurance fund to protect leveraged traders against extreme market losses.
Track Record: Since its launch, OKX has never been hacked or compromised, demonstrating exceptional security. This makes OKX a legit exchange for users.
What is the Fee Structure of OKX?
OKX allows free crypto deposits with no on-chain fees. Fiat deposits, however, include regional charges. For UK investors, GBP deposits are unavailable. Wire transfers cost $3, and credit or debit card purchases carry a 1.99% to 3% fee. Other payment methods vary and can be checked on the deposit page.
Withdrawal fees depend on the asset. Fiat withdrawal fees are not disclosed until previewed, but international wire transfers cost $12. Trading fees are slightly lower than those on Binance or Bybit, as the USDT spot Make/Taker fees are 0.08%/0.10%.
Pros and Cons of OKX
Here are the pros and cons of OKX:
Pros
Access to Advanced Trading Options: OKX is an ideal choice for traders with a few years of experience, as it provides access to margin, futures, and options trading.
Low Fees: OKX offers the lowest trading fees in the industry, ranging from 0.1% to 0.2%.
Earning Opportunities: Users on OKX have multiple ways to earn passive income. These range from staking to lending to yield products.
Cons
Complex Fee Structure: The platform’s detailed fee system can be complex for new users to navigate. This is because the fee structure on the exchange is designed to reward the volume a trader trades each month. Meaning, the more they trade, the lower the trading fees become.
Not Beginner-Friendly: The wide range of advanced trading tools and features may overwhelm newcomers who prefer a more straightforward interface.
Educational Material: OKX lacks a proper education platform that directly caters to beginners. This is something most of its competitors offer.
Conclusion: Final Verdict of OKX in 2025
In conclusion, what really helps OKX stand out from the sea of crypto exchanges is its ability to offer competitive fees, advanced trading options, and extensive market coverage. At the end of the day, users reward an exchange that isn’t only versatile but also easy to use, with built-in features that make it secure.
Considering all of this, OKX is undoubtedly a reliable choice for traders looking to reduce their trading costs or execute more complex strategies. Because, in the end, the more they trade, the lower their fees will become. However, OKX is not an exchange for beginners, as its advanced tools can be overwhelming for them and require them some time to get up to speed.
Frequently Asked Questions (FAQs)
Where is OKX based?
OKX has its headquarters in Seychelles.
When was OKX founded?
OKX was founded in 2017.
Who owns the OKX exchange?
Star Xu is the person who founded OKX in 2017. It has reportedly served over 50 million people, with Star Xu as the CEO as of 2023.
