OKX is a cryptocurrency exchange founded in 2017 that offers spot cryptocurrency trading, leveraged cryptocurrency trading, and staking services. Users can buy cryptocurrencies with AED, USD, and EUR via bank transfer, credit card, and Advcash. OKX offers leveraged trading up to 100x and it is the 16th largest cryptocurrency exchange globally in trading volume. Users don't need to go through KYC to start trading or buying crypto on OKX. Investors can take part in high-interest staking through OKX and earn over 100% annual interest.
OKX is a Seychelles-based company that has over 20 million users from over 100 countries. On their trading platform, users can trade 343 spot cryptocurrencies. OKX also offers leveraged trading, margin borrowing, staking and savings programs, and cryptocurrency-backed loans. People can mine cryptocurrency via OKX by joining its mining pool, called OKExChain.
Available Cryptocurrencies on OKX
On OKX traders can trade 343 cryptocurrencies, including Bitcoin, Ethereum, XRP, Dogecoin, and many others. Users can trade these cryptocurrencies on the spot markets or via leveraged trading.
OKX Trading Platform
OKX offers a simple trading platform that is suitable for both beginner and expert traders which shows the latest crypto prices, the order book, and trade sentiments. The trading platform is customizable and contains tools to conduct technical analysis with like indicators and dynamic charting. Traders can place both market and limit orders and OKX provides detailed information about open positions. Users can use the OKX API to connect trading bots.
OKX charges trading fees based on a tiered pricing system which is determined by your account holdings and trade volume. You will pay 0,10% at most for spot trades, and less if you hold OKB, OKX's native token. OKX doesn't disclose its deposits and withdrawals fees.
OKX secures its website and trading platform with SSL encryption and stores clients' funds in cold storage. Users can set up two-factor authentication to further protect their accounts.
How to Open an OKX Account
You open an OKX account by going to their website, clicking on ‘sign up', filling in your personal details, entering your email address, and clicking ‘sign up' again. OKX will send you a verification code by email which you will have to enter to finish the signup process. To become a verified user, you have to upload a picture of your passport or national ID card and a selfie through Netverify. Users can withdraw up to 10 BTC per day and trade up to $500 without going through the KYC process.
OKX Customer Support
OXS's customer support is 24/7 available through live chat, by phone, and via the help pages on their website. Note that OKX receives bad feedback about their customer service on review sites. On Trustpilot they score 3,4 out of 5 over almost 300 reviews.
OKX has an app available that contains the same features as the desktop trading platform.
OKX Compared to Other Cryptocurrency Exchanges
OKX offers the same features as most other cryptocurrency exchanges. They offer more cryptocurrencies than most others but have poorer customer support. The trading fees and trading platform features are roughly the same as most cryptocurrency exchanges offer.
OKX accepts traders and investors from the United Arab Emirates. It is possible to buy crypto with AED via credit card or bank wire transfer on OKX.
OKX Review – Our Verdict
OKX is a decent cryptocurrency exchange with roughly the same features as other cryptocurrency exchanges. They allow high deposits and withdrawals without the need to go through KYC, offer high-yield staking programs, and spot market trading of over 340 cryptocurrencies. We recommend signing up with OKX.
Business24-7 aims to help those interested in cryptocurrency make safe and informed investing decisions. We are dedicated to offering our readers unbiased reviews of leading cryptocurrency exchanges for traders at all levels. Cryptocurrency exchanges are included in our reviews if they are safe, liquid, regulated by proper authority, or decentralized.
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.