At the time of the report, OKX had been the largest international cryptocurrency exchange by market cap. The price graphs of popular pairs look a lot more realistic now, with no too-pretty sine waves. This suggests that wash trading has been dialed back, but it still makes us a lot more hesitant to recommend OKX. From this, and from the suspiciously regular price fluctuations on some assets, Ribes concluded that OKX was pumping up its own volume to attract investors. OKX also uses a market maker and taker structure, where maker fees are lower than taker fees. Referrals may also make it possible for users to get other discounts and rebates, which can lower trading fees even more.

• To withdraw fiat money to your bank account, use P2P trading to convert crypto into a fiat currency.
• The most significant benefit is that OKX covers all the fees involved with voting.
• OKX allows multiple trading options like spot trading, margin trading, futures trading pairs, options, DEXs, or perpetual swaps.
• As the derivatives market is restricted for UK retail traders, most investors will focus on the spot market.
• While much of OKX is transparent, hidden cost details are a red flag that may send you to another exchange with transparent fee schedules.

OKEx offers users a trading experience while on the go through its mobile app. The OKEx mobile app is available to download on the Google Play Store for Android and the Apple App Store for iOS devices. However, note that you will need to pay a minimum Bitcoin network fee on all BTC withdrawals. You https://www.tokenexus.com/ can also select „Margin Trading.“ This will allow you to use leverage to try to amplify returns when trading in futures, advanced options, and perpetual swaps. The advanced service allows professional traders to engage in sophisticated transactions involving multi-currencies to maximize profits.

Customer Service

On this platform, there are over 140 digital tokens and more than 400 BTC and USDT pairs to trade on. This includes OKB, which is a utility token issued by OK Blockchain Foundation and can be used for an array of purposes on the OKEx trading platform. Positive reviews focus on an easy online experience, fast transitions, and low fees. Negative reviews mention poor customer service, lost funds, and slow withdrawals. At Trustpilot, OKX receives an average 3.4-star rating out of five across over nearly 300 reviews, which is a relatively high rating for a cryptocurrency exchange.

• Also, the settlement on the perpetual swap occurs every 24 hours.
• Finally, there is a dropdown at the top of the charts where you can observe the „Greeks“ of the options.
• Futures, swaps, and options have their own rate schedules with varying fees.
• If you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
• Although OKX offers great features and is quite reputable, the exchange faces regulatory challenges.
• You can also select „Margin Trading.“ This will allow you to use leverage to try to amplify returns when trading in futures, advanced options, and perpetual swaps.
• So the fact that OKX has built a bridge connecting a user-friendly CeFi interface with the powerhouse of DeFi deserves a standing ovation.

To use the advanced functions, you have to apply and be approved. So beginners don’t have to worry about making a costly mistake. There’s also a „demo trading“ feature that allows novices to practice trading with no risk. Based on the exchange’s posted fee schedule, it’s difficult to tell if the charges are high or low. It would be nice to have a table comparing its fees to those of similar exchanges.

Security

To start a margin trade, you must move assets from your funding account to your margin account. Users like OKX because of its many features and reasonable costs. Those who participate in its staking and saving features also enjoy high yields. Furthermore, it does an excellent job of educating novice traders through its crypto academy. After creating the account, you will have to complete KYC level 1 verification and then link your mobile number so the system can verify your identity.

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Trade Crypto Spot, Futures, and Options With This Top Exchange

Like many large cryptocurrency exchanges, OKX offers a simple trading form that works well for beginners alongside an active trading platform for intermediate to expert traders. OkEx’s main advantages over these platforms are that it has more coins, a larger number of currency pairs, and okex review offers better customer service. Furthermore, OkEx has a high level of security, and is very competitive in terms of fees. With many platforms offering similar services these days, security and fees are particularly important factors in choosing the best platform for your trading needs.