Review of OKX

  • Trust rank #3
  • Based in Seychelles
  • Website okx.com

Advantages and disadvantages

Pros

  • Low fees and advanced trading
  • DeFi and Web3 integration via OKX Wallet
  • Stability and high performance speed
  • P2P platform with multiple currencies
  • Good reputation for security

Cons

  • Support sometimes responds slowly
  • No bank transfers to some countries
  • Interface can be complicated for beginners
  • Restrictions for users from the USA
  • Verification is not always fast
On this page

Risk Passport

A compact due-diligence snapshot built from tracked evidence. It is not a price forecast or investment advice.

A plain-language snapshot of what TokenScouts has verified so far — not financial advice.

Status
Verified means independent sources agree on the tracked facts. Partially verified means some gaps remain. Insufficient evidence means we do not have enough to stand behind a full passport yet.
Verified
Risk score
A 0–100 score from TokenScouts’ open, deterministic risk model. Higher usually means stronger evidence-backed standing in that model — not a recommendation to buy or sell.
98 / 100
Data coverage
How much of the field set we track for this entity we could fill from sources. 100% means the checklist is complete, not that risk is zero.
100%

Last checked Oct 6, 2026

What drives the score
Component scores that feed the total. Each row is one dimension of the open scoring model.

  • Evidence coverage 100
  • Data quality 91
  • Trust signals 100
  • Transparency 100

Checks & hands-on

Desk checks look at public pages and repos. Hands-on checks need a real device or account run — we leave those Not run until we actually do them.

Desk checks use public pages and repos. Device and account tests stay Not run until TokenScouts records a real hands-on result — we do not invent them.

0 pass · 0 fail · 2 not run

  • Blocked Fee schedule page is public Desk check
    Checked from public documentation or URLs without creating an account.
    Missing URL mapping for fee_schedule_url
  • Blocked KYC / account requirements page is public Desk check
    Checked from public documentation or URLs without creating an account.
    Missing URL mapping for kyc_policy_url
  • Blocked Security / 2FA documentation is public Desk check
    Checked from public documentation or URLs without creating an account.
    Missing URL mapping for security_docs_url
  • Blocked Proof-of-reserves or transparency page is public Desk check
    Checked from public documentation or URLs without creating an account.
    Missing URL mapping for por_url
  • Not run Account signup and 2FA setup exercised Hands-on
    Requires a real product run (device, signup, deposit, withdrawal, etc.). We never invent these results.
    Not performed yet — TokenScouts does not invent device/account test results
  • Not run Small withdrawal completed end-to-end Hands-on
    Requires a real product run (device, signup, deposit, withdrawal, etc.). We never invent these results.
    Not performed yet — TokenScouts does not invent device/account test results

Incidents

Curated incident notes with sources. This is a starting checklist, not a complete history. Missing entries are not proof of safety.

Curated incident notes with sources. Newest first — expand for the full curated list.

  • HIGH
    Our editorial priority for attention (low → critical), not an official regulator grade.
    outage OKEx/OKX withdrawal suspension (Oct–Nov 2020)

    On 16 October 2020 OKEx suspended crypto withdrawals after a private-key holder cooperating with authorities became unreachable, blocking multisig authorization. Spot trading continued; OKX later said user assets remained fully reserved. Unrestricted withdrawals reopened around 26–27 November 2020 after the key holder returned and hot-wallet checks. Treat as a material key-person / custody authorization risk, not a hot-wallet drain.

Overview

General Overview of OKX

OKX is one of the largest cryptocurrency exchanges in the world, founded in 2017. Initially, the company was based in China, but due to regulatory restrictions, the headquarters moved to Seychelles. The founder is Star Xu, who is also associated with OKCoin. As of 2024, OKX serves over 20 million users from more than 180 countries. The exchange is especially popular in Asia, Latin America, and the CIS region. OKX ranks among the top exchanges by derivatives trading volume and is valued by traders for its stable infrastructure, low fees, and broad ecosystem.

Functional Capabilities of OKX

OKX is not just a place to buy and sell cryptocurrency. It is an entire ecosystem with many tools, including:

Margin Trading and Spot Market

  • Spot Trading is the simplest way to exchange cryptocurrencies. Buy and sell instantly at the current price. OKX offers trading with more than 350 cryptocurrencies, including Bitcoin, Ethereum, Solana, and many others.
  • Margin Trading allows you to trade with borrowed funds from the exchange. For example, with $100, you can trade up to $300. However, this involves higher risk, especially for beginners.

Futures, Options, and Perpetual Contracts

  • Futures let you speculate on the future price of cryptocurrencies. For example, buying a Bitcoin future if you expect its price to rise.
  • Options are similar to futures but give the right (not the obligation) to buy or sell at a specific price.
  • Perpetual Contracts are futures without an expiry date, popular among active traders.

API for Algorithmic Trading

If you are a developer or want to connect a trading bot, OKX offers a comprehensive API with full documentation. You can automate trades, track prices, place orders, and more.

OKX Earn: How to Earn Passively

  • Staking — lock your tokens to support the network and earn interest.
  • Savings — deposit crypto to earn interest, with flexible or fixed terms.
  • DeFi Products — participate in liquidity pools, yield farming, and other decentralized finance options through OKX.
  • Dual Investment — a tool with higher risk and potential reward; you profit if the asset price moves in your chosen direction.

OKX Wallet — Own Wallet with Web3 Access

  • OKX is not only an exchange but also a crypto wallet that allows direct interaction with blockchains.
  • It supports Web3 applications, including decentralized apps (dApps), NFTs, DeFi, and more.
  • You control your private keys; only you manage your funds.

Mobile App and Desktop Version

  • The OKX app is available on App Store and Google Play. Trade, monitor markets, fund your wallet, and participate in Earn programs from your phone.
  • A desktop version is available — the website is fast and stable, suitable for both beginners and professionals.

If you’re just starting out, you can simply buy and hold crypto in your wallet. As you gain experience, you can explore margin trading, futures, and Earn products. OKX is suitable for both beginners and those wanting to dive deeper.

Registration and Verification Process

Registering on OKX takes about 2-3 minutes:

  1. Go to okx.com
  2. Click “Sign Up” and enter your email or phone number
  3. Create a password and confirm via email or SMS code

After registering, OKX will prompt you for KYC (Know Your Customer) verification:

  • Level 1 — basic verification (name, country, ID) that unlocks P2P trading and withdrawals
  • Level 2 — document upload and selfie to remove limits
  • Level 3 — for institutional clients (expanded limits, OTC trading)

Platforms and Interfaces

  • Web version with customizable terminal and dark mode
  • Mobile app — stable even during high volatility
  • OKX API supports REST and WebSocket, ideal for bots

The interface is intuitive even for beginners. The app includes built-in guides, supports over 20 languages, and offers quick access to main features.

User Reviews

The average OKX rating on Trustpilot is 3.9 out of 5. Users praise the platform’s stability and wide range of features but complain about customer support delays and fiat currency difficulties in some countries.

Recent reviews include: “Convenient interface, quickly bought USDT via P2P,” and “Had verification issues, but solved within 2 days.”

Summary and Final Rating

OKX is a powerful exchange for those who want more than just buying crypto. It is great for traders, DeFi enthusiasts, and those interested in Web3. The interface is user-friendly, fees are competitive, and the tools are advanced.

Security

OKX is one of the few major cryptocurrency exchanges that has never experienced a large-scale hack resulting in user fund losses. This is a significant advantage in an industry where even top exchanges like Binance and FTX have faced serious scandals.

Security Technologies

  • Two-Factor Authentication (2FA) — enabled via Google Authenticator. It is mandatory for login and withdrawals.
  • Anti-Phishing Codes — a special code that you see in every official email from OKX. Helps protect against phishing attempts.
  • Cold Storage — according to OKX, 95% of user assets are stored offline, meaning they are not connected to the internet and are immune to hacking.
  • Multisignature — large transactions require approval from multiple staff to eliminate human error or internal fraud.
  • Suspicious Activity Monitoring — the exchange automatically blocks login attempts from unfamiliar devices, unusual IP addresses, suspicious operations, and sends notifications.

Proof of Reserves

After the FTX collapse in 2022, OKX began regularly publishing Proof of Reserves reports to prove that it holds 1:1 user assets and does not use them for speculation. These reports are available to everyone, and users can independently verify that their funds truly exist on the exchange’s accounts.

Known Incidents

  • October 2020 — temporary withdrawal suspension
    OKX paused withdrawals for 5 weeks when a key private key holder became unavailable due to undisclosed legal procedures in China.
    User funds were not harmed, but it caused distrust. Since then, OKX changed key management and increased transparency.
  • Account blocking without explanation
    Users on Reddit and Trustpilot occasionally complain about temporary account blocks and lengthy KYC processes. These usually relate to suspicious activity or attempts to bypass geographic restrictions, especially in countries with crypto bans.

No Major Hacks

As of June 2025, there have been no recorded successful hacks on OKX involving mass fund theft. This makes the exchange one of the most resilient to attacks on the market. Security here is genuinely high, especially compared to competitors.

Security Tips

  • Enable 2FA immediately after registration.
  • Set up an anti-phishing code in settings.
  • Do not keep large amounts on the exchange — better use a cold wallet.

In summary: OKX proves to be one of the most secure exchanges. Despite the 2020 incident, since then they have strengthened protections and earned community trust.

Fees

OKX offers quite competitive fees, especially when compared to other major exchanges. Below is all the key information on fees, limits, and supported currencies.

📈 Trading Fees

Category Maker Taker
Spot Trading 0.08% 0.10%
Futures 0.02% 0.05%
Perpetual Contracts 0.02% 0.05%
Options 0.02% 0.05%

If you have a large trading volume (from 50,000 USDT per month) or hold OKB tokens (the internal exchange token), fees may be reduced depending on your VIP level.

👉 Detailed OKX Fee Schedule

💸 Deposits and Withdrawals

  • Cryptocurrencies — deposits are free; withdrawal fees depend on the network:
    • USDT (TRC20) — 1 USDT
    • USDT (ERC20) — ~5–10 USDT (varies depending on network load)
    • BTC — 0.0002 BTC
    • ETH — 0.0016 ETH
  • Fiat — via P2P (no fee) or third-party payment gateways (fees depend on payment method and country)

🌐 Supported Currencies and Languages

  • Tokens: over 350 cryptocurrencies and stablecoins.
  • Fiat currencies: more than 40 currencies via P2P and payment systems.
  • Interface languages: Russian, English, Spanish, Chinese, Portuguese, and others.

🔒 Withdrawal Limits

Verification Level Withdrawal Limit
No KYC Up to 10,000 USDT per day
With KYC Up to 1,000,000 USDT per day

💬 Rating

Compared to competitors (such as Binance or Bybit), OKX’s fees appear fair and transparent. Withdrawals via TRC20 are cheap, trading fees are standard, but large-volume traders can save significantly. The platform is especially convenient for beginners who can start without KYC and face minimal limits.

FAQ

Yes, you can use OKX without completing identity verification, but with very limited withdrawal limits and no access to P2P trading. The withdrawal limit without KYC is generally up to 10,000 USDT per day. For full access including higher withdrawal limits and P2P trading, completing KYC is highly recommended for convenience and security.

OKX supports an extensive selection of over 350 cryptocurrencies and stablecoins including major assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and many altcoins. Additionally, the platform supports over 40 fiat currencies through P2P and various payment gateways, including USD, EUR, AUD, GBP, INR, and more, depending on your region.

Cryptocurrency deposits on OKX are free of charge. However, deposit fees for fiat currencies depend on the payment provider and the country you are in. For example, some bank transfers or card payments may incur fees imposed by third-party processors.

The cheapest withdrawal method for stablecoins is USDT using the TRC20 network, with a fixed fee of around 1 USDT. Other networks like ERC20 have higher fees (around 5-10 USDT depending on network congestion). Bitcoin and Ethereum withdrawals have their respective network fees (e.g., ~0.0002 BTC or ~0.0016 ETH).

Yes, OKX provides educational resources through their OKX Academy, which includes articles, videos, and tutorials suitable for beginners to advanced traders. The platform also features built-in tips and guides inside the interface to assist users in understanding trading tools and platform features.

How we check evidence — sources, Risk Passport scoring, and what we have not tested yet.

Sources

The evidence ledger: each row is a fact, its value, how strongly we trust it, and where it came from. Etherscan rows are observed on-chain contract checks, not a full audit.

How we check evidence — on-chain rows link to the public explorer when a contract is tracked.

Evidence ledger · 4 verified · 1 observed · checked independently · not financial advice

Field Value Status
Verified = cross-checked or primary source. Observed = seen but not yet confirmed. Conflict = sources disagree. Stale = older than our freshness window.
Source As of
Country Seychelles Verified CoinGecko 2026-10-06
Trust score 10 Verified CoinGecko 2026-10-06
Trust score rank 3 Verified CoinGecko 2026-10-06
Year established 2,017 Verified CoinGecko 2026-10-06
Trade volume 24h (BTC) 29,686.66 Observed CoinGecko 2026-10-06

Research notes

Short automated notes from public GitHub releases for the linked repo. Useful signal, not a rewrite of this review.

Automated notes from public GitHub releases for the linked repository. Not a full newsroom feed — and not an automatic rewrite of this review.

No recent GitHub release digest for this entity yet.

What's new

Bounded updates when tracked evidence moves. Replaces only this marked section — not a full article rewrite.

Verified evidence notes from tracked sources. Updates when material signals change.

Updated exchange profile

According to CoinGecko’s exchange API, OKX is listed with a trust score of 10, a trust-score rank of 4, a stated establishment year of 2017, and Seychelles as its country. The latest update also records 24-hour trading volume of 44,795.43777583008 BTC; readers should check the source timestamp because this figure can change.

*Editorial note: verify the volume field and confirm whether the country and establishment-year data should be presented as current profile details.*

Tracked changes

Material field-level changes (value or verification status). Market noise below our thresholds is filtered out.

Material moves in the fields we monitor — newest first. Expand for the full tracked history.

  • Trust score rank 4 3
    Updated CoinGecko

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