It also connects users to DApps and DeFi protocols for the purposes of investing, trading, and making money. We will cover the exchange’s history, key features and products, okex review fee structure, supported countries, and other important details, including the pros and cons. We will also compare the exchange to other top exchanges in the industry.

When it comes to the options platform, the layout is similar, although the functionality is quite different. If you want to trade perpetual swaps, it has much of the same UI as the Futures instruments. Then, when it comes to how this is margined from your account, you can either elect to have it margined in crypto (Coin margin) or margined in Tether. Once you have set up your withdrawal password, you can go ahead and place your withdrawal amount and your offline address.

What countries does OKX support?

As mentioned at the beginning of this OKEx exchange review, the platform offers great functionality. The exchange is regulated in Hong Kong, Malta, and Dubai, which means it can offer crypto services in many places around the world. Users in a few other places, like the United States, can’t use its services, though. Before money can be moved from a cold wallet, the transfer must be approved by at least two authorized people. Keep in mind that market volatility has a real effect on profit, so it is not a given. Also, traders can only know how much profit they made from the investment at the offer expiration date.

Most cryptocurrency exchanges, including OKX, have Know Your Customer (KYC) processes in place to comply with regulatory standards. These processes typically require users to verify their identity before they can engage in certain activities on the platform, such as withdrawing funds. Hedge With Crypto aims to publish information that is factual, https://www.tokenexus.com/ accurate, and up-to-date. The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website. Although it’s possible to create an OKX account without completing Know-Your-Customer (KYC) verification, users wishing to deposit funds or trade on the platform need to.

OKX (Previously OKEx) Futures and Perpetual Fees

For anyone with experience navigating crypto platforms, or after enough time getting familiar with these platforms, both OKX and Binance become easier to use with some time and practice. 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. 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.

It has over 700 crypto markets — pairs with liquidity — and a 24-hour spot trading volume of almost $644 million. Although OKX definitely has a lot of competitors at the top, the exchange does have a lot of unique features and simply offers enough variety of products to compete with basically anyone. It is also among the top exchanges when it comes to liquidity and has more than enough trading pairs on all products. BitMEX, for instance, also has a ton of liquidity and advanced order types, however, it lacks variety and doesn’t even offer spot trading.