OKEX | Business24-7

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Written by Braden Chase Edited by Giles Thomas Fact Checked by Tomislav Turcin

7 March 2023

2 March 2023

Page Summary

Okex is a centralized crypto-to-crypto and fiat-to-crypto exchange. It is available in 100+ countries, and it has an impressive track record. Okex exchange has a transparent fee structure. It is a good fit for professional traders.

Review Summary: 

The Okex exchange is a reliable platform for spot and derivative trading.
It supports fiat currency deposits.
It offers competitive financing fees and low trading fees based on trading volume.
It provides access to the Okex trading app.

Okex Overview:

The Okex exchange began operating in 2017 in Malta. It is a leading crypto exchange with excellent platforms. It has a good selection of crypto coins and an intuitive mobile app. We recommend Okex to experienced traders, as its platforms are challenging for beginners to use.

Trading Experience

Okex offers a desktop platform and a mobile app. Both platforms have a professional design with access to many trading tools. The mobile app is available on Android and iOS devices. The Okex mobile stock trading app is versatile. It is an all-in-one platform for trading crypto. It offers real-time data and a built-in wallet. Our Okex review shows this exchange is a top choice for:

Quick trades
Spot trading
Margin trading
DEX trading
Swapping
Futures trading
Options trading
Derivatives trading

Cryptocurrencies Available 

This exchange has an excellent assets portfolio. It offers 141 digital tokens and more than 400 BTC and USDT pairs to trade on. It has a utility token, the OKB, created by the OK Blockchain Foundation. Users deposit funds with crypto coins pr fiat currency payment methods. Okex account holders access six coins:

Bitcoin
Ethereum
USDT
Ripple
Litecoin
OKB

Fees 

Okex offers competitive trading fees. It has a maximum fee of 0.15% for spot trading, below the industry average. Keep in mind that fees vary depending on your trading volume. For example, trading fees for futures and options trading vary from 0.03% to 0.05%. Our Okex review shows it has excellent fees for traders at all levels.

This exchange doesn’t have a deposit fee. Withdrawals cost 0.0005BTC for Bitcoin, 0.01 for ETH, and 0.15 for Ripple. The minimum deposit amount to open an Okex account is 10USDT. The deposit and withdrawal funding options are:

Cryptocurrency transfer
Credit/debit card – Visa, MasterCard
Bank transfer
UPI
PayPal
Payeer
Skrill
SEPA
ApplePay
Poli
BPay
Qiwi
KaKao Pay
Payid
Blueshift
iDeal
Western Union
Gift Cards – iTunes, Google, Amazon

Regulation & Reputation 

Okex is a trustworthy crypto exchange following the Virtual Financial Asset Act (VFAA) rules. The Malta Financial Services Authority regulates Okex. Okex has never reported a hack and has an excellent security track record. Our Okex review indicates this secure trading platform offers:

Two-factor authentication
Mobile verification codes
Email verification codes

Account Opening 

Okex has a fast account opening process. Users sign up with this exchange by:

Accessing the Okex platform and click on the Sign-Up button.
Adding an email address and create a password.
Verifying your account with the 6-digit code sent to your phone or email address.
Depositing funds with your payment method of choice.
Starting crypto-to-crypto or fiat-to-crypto trading.

Customer Support 

Customer support at Okex is excellent. It offers 24/7 online support. Okex account holders receive phone, email, and live chat support. Our Okex review shows it has a comprehensive FAQ section on its website.

Summary 

Okex is a popular crypto trading service available in 107 countries. It has professional trading platforms and an excellent trading app. Okex trading fees are competitive. We recommend this exchange platform for experienced traders who want access to many digital assets.

FAQ

What Is A Centralized Cryptocurrency Exchange?

A centralized exchange represents a private company offering access to trading platforms. It lets users invest in digital coins. These exchanges request registration, known as the Know Your Client rule.

What Is A Decentralized Cryptocurrency Exchange?

A decentralized exchange is a provider without a central point of control. It functions as a server, but each computer within the network operates in different countries. If one device malfunctions, it doesn’t interfere with the network’s activity. Decentralized exchanges don’t follow the rules of a regulatory body. If you choose a decentralized exchange, you should understand the risks. Read our in-depth reviews to read more about crypto exchanges and safety.

Does Okex Offer Leveraged Trading?

Yes. Okex has a leverage ratio of 10:1 and 20:1 in the margin trading. If you choose to buy tokens with perpetual swaps contracts, the leverage is 100:1.

How Much Money Should I Deposit With My First Okex Transaction?

Okex has a minimum deposit of 10USDT. Traders are allowed to deposit the same amount in other cryptocurrencies, too. Read our in-depth reviews to learn more about first-time deposits and online trading.

What Is The Okex Academy?

The Okex Academy is a learning center available to all traders. It features an extensive selection of learning tools. These include guides, industry analysis, and trading ideas.

Disclaimer

Braden Chase

Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

OKEX Review