OKX Review 2024 – Fees, Features, Pros & Cons Revealed

Why Trust Techopedia
Our Verdict

Leading crypto exchange with low fees

OKX caters to advanced traders while also offering a path for newer traders to build trading skills through copy trading or a generously funded demo account. Trading fees are among the lowest you’ll find in the industry.

The exchange offers over 320 tradable cryptocurrencies, putting it on par with exchanges like Binance. Additionally, the OKX exchange offers a feature-packed crypto wallet with support for 77 blockchains and easy access to DeFi apps.


  • 320+ tradable cryptocurrencies
  • Low trading fees for spot and futures trades
  • Up to 100x leverage trades on futures, 10x on spot trades


  • Not available in the US or Canada
  • Identity verification is required for crypto deposits
  • Difficult fiat withdrawals, such as USD or GPB.

Founded in 2017, OKX is a global business offering exchange and Web3 services to its users with offices in Hong Kong, Singapore, the UAE, Silicon Valley, and the Bahamas.

The OKX exchange is now the world’s second-largest crypto derivatives trading exchange by trading volume. The exchange caters to advanced traders, offering powerful tools such as futures trading, trading bots, and margin trading. A demo account lets new or experienced traders learn the platform. In this OKX review, we’ll explore OKX’s features.

We’ll also compare trading fees, pros and cons, and the overall experience of the OKX exchange.

What OKX Does Well

Deep liquidity and wide crypto selection. OKX brings a worldwide trading market for over 350 cryptocurrencies. You’ll find top assets like BTC, ETH, SOL, MATIC, XRP, and DOGE. But the platform also offers DeFi favorites and popular tokens like BLUR, COMP, and ICP.

OKX provides multiple trading pairs for many top cryptos, reducing the number of trades needed when it’s time to rebalance your portfolio. Many cryptocurrencies offer BTC and ETH pairs as well.

Low-cost trades. Spot trades on OKX cost less than on Binance and Coinbase. Trading fees for spot limit orders are just 0.08% for USDT pairs, compared to 0.1% on Binance Advance Trade or 0.6% on Coinbase Advanced. Select pairs, including USDC, BTC, and ETH, reduce trading fees further, with 0.05% limit orders and 0.07% market orders.

Multiple ways to learn crypto trading. The platform offers several ways to get your crypto-trading sea legs. First, you’ll get access to a demo account funded with virtual blue-chip cryptocurrencies like BTC, ETH, and other assets. Use your demo account to make spot trades, trade futures with leverage, or experiment with trading bots that trade around the clock on your behalf.

OKX also offers copy trading, a way to learn from proven traders by copying their trades.

Powerful Wallet app. The OKX Wallet app supports 77 blockchains and connects to dApps to make swaps or earn yields.

OKX Is Best For:

  • People who use trading bots. Put your trading on autopilot. OKX’s vast bot selection is free to use. Use cases range from dollar-cost averaging to futures trades on high-beta cryptos.
  • People who trade BTC and ETH in bulk. Reduced fees and high liquidity on BTC and ETH trading pairs make OKX an attractive choice for volume traders in the top cryptocurrencies. There are also exclusive bonuses and OKX referral codes that new and existing traders can use to get their hands on unique prizes and freebies.
  • People who are comfortable with crypto wallets. Account funding can be costlier on OKX compared to platforms that can link bank accounts more easily. Often, the best option is to transfer crypto to the platform from another crypto wallet.

OKX’s advanced features and sometimes challenging funding logistics make it better suited to experienced traders. However, beginner-friendly tools like copy trading and well-funded demo accounts make the platform valuable for those learning to trade as well.

OKX at a Glance

Category Our Rating (out of 5) Comment
Number of coins:
4.5/5 OKX offers more tradable cryptos than Coinbase (250+), but fewer than MEXC (1,700+) and Kucoin (800+).
Trading Fees:
0.08% limit order spot trades, 0.1% market order spot trades
0.02% futures limit order futures, 0.05% futures market order
4.5/5 Reduced trading fees are available for BTC and ETH trading pairs and for accounts that hold OKB.
User experience: 4.0/5 The wealth of trading options available on OKX can make the platform more difficult to navigate. Funding your account can also be challenging, depending on your location.
Direct staking, DeFi protocol staking, and lending
4.0/5 Earn a yield with over 100 cryptos or choose structured products like Seagull, an options vehicle. Risks and yields vary.
Full-featured demo account, 10x magin spot trades, 100x perpetual futures, copy trading
4.5/5 Simple trades are not available on OKX.
Trustworthiness: 3.5/5 OKX offers proof of reserves, which assures 1:1 custody of assets, but the exchange is largely unregulated in major markets.
Customer service: 3.5/5 OKX offers a learning center with trading tutorials. However, live customer support is limited to chat and a ticket system.

What Cryptocurrencies Can You Trade on OKX?

OKX offers market leaders like BTC and ETH. You’ll also find other top 20 cryptos, including XRP, SOL, ADA, AXAX, and TRX. New but popular cryptos like PEPE and SUI are also on the platform, although newer projects often appear on Kucoin or MEXC before OKX.

Top-traded cryptocurrencies on OKX spot trading:

  • BTC
  • ORDI
  • ETH
  • DOGE
  • SOL
  • MEME
  • TIA
  • PEPE
  • PYTH

We also found perpetual futures for trader favorites like PEPE, SHIB and DOGE.

Top futures markets on OKX include:

  • BTC
  • ETH
  • DOGE
  • SOL
  • MEME
  • AVAX
  • LUNC
  • BCH
  • PEPE
  • XRP

OKX Spot Trading Fees

Accounts with up to $5 million in 30-day trading volume can earn fee discounts for holding OKB, which is OKX’s token.

USDT Pairs:

Level OKB Holdings Limit Order (Spot) Market Order (Spot)
Lvl 1 Less than 100 0.080% 0.100%
Lvl 2 Greater than or equal to 100 0.075% 0.090%
Lvl 3 Greater than or equal to 200 0.070% 0.080%
Lvl 4 Greater than or equal to 500 0.065% 0.070%
Lvl 5 Greater than or equal to 1,000 0.060% 0.060%

Traders with over $5 million in 30-day trading volume qualify for VIP tiers with further fee reductions. At the highest tiers with $500 million or more in 30-day trading volume, limit orders have negative fees (the exchange refunds part of the trade).

Trading pairs with the following assets enjoy lower trading fees:

  • USDC
  • DAI
  • BTC
  • ETH
  • OKB
  • DOT
  • EURT

Reduced Fee Crypto Pairs:

Level OKB Holdings Limit Order (Spot) Market Order (Spot)
Lvl 1 Less than 100 0.050% 0.070%
Lvl 2 Greater than or equal to 100 0.045% 0.065%
Lvl 3 Greater than or equal to 200 0.040% 0.060%
Lvl 4 Greater than or equal to 500 0.035% 0.055%
Lvl 5 Greater than or equal to 1,000 0.030% 0.050%

OKX Futures Trading Fees

Futures trading with leverage can bring more fees because fees are charged based on the total position size. OKX discounts futures trading fees accordingly.

Again, base tiers for regular users follow a discount structure based on holdings of OKB tokens.

USDT-M Perpetual Pairs

Level OKB Holdings Limit Order (Futures) Market Order (Futures)
Lvl 1 Less than 100 0.020% 0.050%
Lvl 2 Greater than or equal to 100 0.018% 0.045%
Lvl 3 Greater than or equal to 200 0.017% 0.040%
Lvl 4 Greater than or equal to 500 0.016% 0.035%
Lvl 5 Greater than or equal to 1,000 0.015% 0.030%

Additional discounts are available for VIP accounts with over $50 million in 30-day futures trading volume.

Perpetual futures trades are also subject to a funding rate charged every 8 hours. This amount varies based on market conditions and can add to or reduce the cost of the trade.

Perpetual Futures – Positive Funding Rates vs Negative Funding Rates

Perpetual contracts allow you to keep a trade open indefinitely, but there can be carrying costs called funding rates.

  • Positive funding rate: When the contract trades at a premium compared to the spot market, long traders pay a fee to short traders.
  • Negative funding rate: When the contract price is below the spot market price, short traders pay a fee to long traders.

Funding rates help keep the trading price aligned with the spot market by encouraging traders to switch sides or close positions when the contract price varies from the spot market price.

OKX Deposit Fees

OKK does not charge a deposit fee or exchange fee for deposits. However, third-party providers like Mercuryo or Moonpay charge fees and spreads from 2% to over 10%.

Crypto deposits to the platform incur no fees from OKX. Instead, you’ll pay network fees for transferring from another wallet to your exchange wallet. These fees vary based on network demand.

Peer-to-peer (P2P) trades provide another way to convert fiat to crypto and fund your trading account.

okx peer to peer market

Over 100 payment methods are supported through P2P trades, including Skrill, AdvCash, and Revolut. The OKX P2P dashboard displays completion rates for each provider, so check stats carefully if choosing this method.

OKX Withdrawal Fees

OKX charges network fees for crypto withdrawals without additional fees. The platform applies fair pricing based on network demand. The OKX exchange now also supports BTC deposits and withdrawals on the Lightning Network, providing a low-cost way to withdraw Bitcoin from the platform.

When using other withdrawal methods, such as third-party providers like Mercuryo or P2P providers that can convert crypto to fiat currencies, expect transaction costs of 2% or more of the withdrawal amount. Minimum withdrawal amounts vary by provider.

okx peer to peer withdrawal

OKX Futures

Futures trading on OKX provides both traditional futures with an expiration date and perpetual futures that let you keep a profitable position open indefinitely.

  • Traditional futures focus on BTC and ETH paired with USDC; trades support up to 50x leverage.
  • Perpetual futures trading supports 150 USDT pairs with up to 100x leverage.

OKX’s trading dashboard provides help tips for key terms like isolated margin and cross-margin but does not link to training videos or articles as we’ve seen on other platforms. Instead, you can find basic trading guides linked from the “Learn” tab in the top menu.

OKX derivatives trading guide

Trading on OKX’s well-designed futures platform is intuitive and offers easy access to stop-loss and take-profit settings with triggers. You can also reverse your position with a click if the market turns suddenly. At 100x leverage, everything is sudden.

okx btc perputuals trade

To help you plan your strategy, OKX offers a “position builder” tool linked below the order box. This offers more insight before you buy long or sell short. The tool supports traditional futures, perpetual swaps, and options trades. It also simulates your positions.

okx derivatives position builder

Like eToro and MEXC, OKX also offers copy trading. Dive into the stats of each lead trader to find one that suits your style. Minimum commitments for copy trades are $10. You can also set a cap for each order. Top-performing lead traders maximize gains through leverage and OKX futures contracts.

okx copy trading trade history

Demo accounts don’t support copy trades, but you can use your demo account for trading bots, which can also use futures contracts. Trading bots automate trades according to predefined rules but are also customizable. We found the off-the-shelf bots easy to use. Building your own doesn’t require programming skills. Just fill in the blanks.

OKX Exchange Trading Experience

Overall, the OKX platform is well-designed and offers easy access to trading tools. However, if you’re accustomed to eToro or Coinbase’s simple trades, you won’t find that option. In fairness, you’ll also pay a lot less for your trades on OKX.

Instead, OKX offers ways to learn advanced trading and save on every trade. A generous demo account goes a long way toward that goal.

The user interface was smooth and well laid out. Advanced trading screens are easy to use if you have a few trades under your belt, and OKX offers tutorials in the “Learn” section to help you navigate trade toggles and terminology.

okx btc spot trade

OKX’s TradingView charts offer an outstanding charting experience, with over 100 indicators available to guide your next moves.

Those who prefer a simpler trading experience can consider Okcoin, a spot exchange with simple trades that’s available worldwide (including the US and Canada). Expect Okcoin to rebrand to OKX in the coming months. OK Group owns both exchanges.

OKX Wallet

Like Coinbase, OKX offers a self-custody wallet. However, the OKX wallet is combined with the mobile app whereas Coinbase Wallet and the Coinbase mobile app are separate (although they can be linked).

Where OKX wallet shines is in its support of 77 blockchains, including:

  • Bitcoin
  • Ethereum
  • Solana
  • Dogecoin
  • Litecoin
  • Tron
  • Dash

Easily toggle between exchange and wallet, each of which is featured packed. The wallet also supports popular hardware wallets like Ledger.

OKX’s well-designed wallet provides fast access to the hottest crypto markets:

  • NFTs: Shop top collections on multiple networks.
  • Bitcoin ordinals: View ordinals, shop, or inscribe your own.
  • Bitcoin BRC-20: Get in on hot BRC-20 tokens like sats or ordi.
  • DeFi yield protocols: Put your crypto to work on Aave, NAVI, and other protocols.
  • Top dApps: Explore leading decentralized applications and newly launched dApps from your wallet.

okx wallet DeFi

OKX offers several ways to secure your wallet, including a traditional recovery phrase or a “Smart Wallet,” which provides an easier way to navigate the crypto world.

okx wallet setup

Mobile App

Tap the exchange toggle in the wallet app to use the OKX exchange on the go. OKX’s mobile app is robust, offering nearly all the functionality you’d find on the web app.

  • Spot
  • Margin
  • Futures
  • Perpetuals
  • Options

okx wallet available trade types

Copy trading and trading bots are also available on the mobile app. Staking and yield products round out the mix on OKX’s powerful trading app.

OKX Review: Staking Features

Visit the Grow section of OKX to find ways to earn a yield on your crypto – but choose carefully. The Grow portal offers both crypto staking, a generally safe way to achieve yields, alongside riskier and more complex products.

okx grow dashboard

Simple earn: Yields come from lending to leverage traders and staking rewards on proof-of-stake protocols.
On-chain earn: Yields come from validator staking and DeFi protocols.
Structured products: Earn a return from derivatives, including options trades.

What is Staking?

Blockchain networks like Ethereum and Solana use proof of stake to validate transactions. People commit tokens to a staking contract as a form of collateral to ensure proper protocol. There’s something “at stake,” providing an incentive to follow validation rules. In exchange, proof-of-stake networks provide staking rewards paid in tokens.

Yields range from 1% to 51%, with risk often increasing alongside returns. OKX discloses the source of yields better than some exchanges, such as MEXC. However, product descriptions still leave traders without a way to investigate further. Following the implosion of the Gemini exchange’s Earn product, clarity in disclosures becomes more crucial than ever.

OKX Payment Methods

Payment options vary based on location. OKX supports 84 fiat currencies, including USD, GBP, and EUR. However, many users prefer to deposit crypto rather than traditional currencies.

OKX supported payment methods:

  • Debit card
  • Credit card
  • Apple Pay, Google Pay (debit cards)
  • P2P (peer-to-peer with multiple payment methods)
    Third-party payments (Banxa, Mercuryo)

Minimum Deposit

SEPA and iDEAL deposits require €1 minimum.

P2P providers and third-party providers may set individual minimum transaction limits.

However, OKX imposes minimum trades for trading pairs.

  • BTC-USDT: 0.00001 BTC
  • ETH-USDT: 0.0001 ETH
  • ADA-USDT: 10 ADA
  • DOGE-USDT: 0.01 DOGE
  • SHIB-USDT: 1,000,000 SHIB

Depending on the asset, minimum trades may play a more significant role than minimum deposits on OKX. For example, the minimum trade for SHIB approaches $10 at current prices.

Withdrawal Times

Your withdrawal time varies depending on the withdrawal method.

  • SEPA: Instant and up to 2 business days
  • iDEAL: Instant withdrawal

Crypto withdrawal times depend on each network’s traffic.

OKX Customer Support

The OKX exchange provides an extensive help center. For live support, you’re limited to chat and a ticket system. Chat is available 24/7.

OKX reviews on Trustpilot rate the exchange similarly to Binance, with OKX’s Trustscore at 2.3 out of 5 stars compared to Binance’s 2.1 out of 5 star Trustscore.

Is OKX Safe? Licensing & Security

The primary OKX exchange is not registered in major markets like the US, UK, Canada, or Australia.

Okcoin, an affiliate of OKX that will soon be rebranded to OKX, is licensed with FinCEN in the US as a money-transmitting business.

Some traders favor proof of reserves over regulatory oversight. OKX maintains 1:1 reserves for crypto deposits, according to the exchange’s proof of reserves.

Where Could OKX Improve?

OKX offers more pros than cons, but there are some things the exchange could do better.

  • Simpler deposits: In many parts of the world, P2P and crypto deposits are the only ways to fund your account.
  • Simple trading: Binance offers Instant Buys with a 0.5% fee plus a spread. Simple trading platforms welcome new investors to the industry.
  • Risk disclosures: OKX’s “Grow” provides several ways to earn. However, the potential risks of these tools could be better explained.

Our Methodology

In our OKX review, we compare features and trading costs against similar platforms using a core set of more than 20 internal benchmarks to assign rankings where applicable.

Wherever possible, we use the exchanges for real-world transactions. This process uncovers usability issues as well as standout features. It also shines a light on real-world performance that may not coincide with marketing language.

We weigh the basic and advanced trading features of each platform, all of which contribute to a benchmark score. Ease of use and funding options also play roles in ranking, in addition to fees, platform security, customer service, and help resources.


OKX provides a powerful platform aimed at advanced traders but is loaded with ways for newer traders to learn. Trading bots and demo accounts with support for futures trading (and up to 100x leverage) were among our favorite features in our OKX review. Account funding remains a challenge in some countries, but for those willing to fund their account with crypto, OKX is a top choice due to its features, selection, and deep liquidity.

OKX gives traders the tools to maximize profits and fine-tune trades to minimize risk, combined with lower trading fees than Binance or Coinbase.



Is the OKX exchange safe?

Is OKX legal in the USA?

Is OKX better than Coinbase?

Can I withdraw from OKX?


Krishi Chowdhary
Tech Expert
Krishi Chowdhary
Tech Expert

Krishi Chowdhary has half a decade of experience writing buying guides and product reviews for numerous leading technology websites. He spent two years writing for Business2Community.com before joining Techopedia.com. He has a degree in Commerce and extensive experience in the technology industry. He's also the key driver behind TechReport.com's news content, delivering expertise insight into the latest tech and cybersecurity news daily.