OKX Review: Spot, Futures and Options Trading on a Leading Cryptocurrency Exchange

OKX, founded in 2017 and rebranded from OKEx to OKX in 2021, is headquartered in Malta.

Key takeaways:

Founded in 2017 and rebranded from OKEx to OKX in 2021, the exchange is headquartered in Malta.

The exchange offers a broad range of services, including spot, margin, futures and options trading, as well as staking and DeFi services.

By 2025, OKX has become one of the largest cryptocurrency exchanges, consistently ranking in the top three by daily trading volume. With over 20 million registered users, it supports trading in over 400 digital assets.

The digital asset exchange is available in more than 180 countries and regions, covering major markets in Asia, Europe and North America. However, the exchange is still encountering regulatory hurdles in some jurisdictions. It is not yet available to users in the United States, mainland China and several European countries due to local legal restrictions.

Let’s delve deeper into the intricacies of this top crypto exchange.

User experience

The user experience on OKX aligns with the high standards expected of top cryptocurrency exchanges, offering accessibility across various platforms tailored to different trader needs:

It is known for its user-friendly and modern interface. The dashboard provides a clear snapshot of market trends, balances and recent transactions, ensuring that crucial information is readily accessible.

Navigation is straightforward, with well-organized menus and a clean layout. The mobile apps are designed to mirror the web experience, maintaining consistency and ease of use across devices.

Signing up on OKX is quick and straightforward:

To comply with international regulations, OKX enforces a Know Your Customer (KYC) verification process. The requirements generally include:

The KYC requirements may vary slightly based on the user’s country of residence and local regulations. Rest assured that all submitted information is securely encrypted, as OKX adheres to strict data protection standards.

Trading experience

The exchange offers a diverse selection of over 400 cryptocurrencies, including major assets like Bitcoin (BTC), Ether (ETH) and Litecoin (LTC), as well as numerous altcoins and stablecoins. The exchange offers:

The cryptocurrency exchange supports fiat deposits and withdrawals in multiple currencies, including USD, EUR, AUD, GBP and INR.

Did you know? In November 2024, the exchange introduced instant Singapore dollar deposits and withdrawals for customers in Singapore, furthering its integration with the local financial system.

Fees and execution

The exchange employs a tiered fee structure based on users’ 30-day trading volume and OKB token holdings:

The platform is recognized for its high liquidity and efficient trade execution. It offers deep liquidity in both spot and futures markets, ensuring that trades are executed swiftly and at the desired prices.

For algorithmic traders, OKX provides robust API connectivity, supporting high-frequency trading strategies with low latency.

Did you know? The exchange offers a variety of automated trading strategies, including Spot Grid, Futures Grid, Recurring Buy, Smart Portfolio, Arbitrage, Iceberg and Time-weighted Average Price (TWAP), although portfolio accounts currently do not support these strategies.

Security

Most of the digital assets on the platform are stored in cold storage solutions, rendering them less vulnerable to cyber threats.

Additionally, the exchange maintains insurance funds to cover potential losses from unforeseen events, instilling greater confidence in users. It also regularly undergoes proof-of-reserves audits.

To bolster account security further, the exchange offers several protective measures:

Regulatory compliance

The crypto exchange obtained pre-authorization under the Markets in Crypto-Assets Regulation (MiCA) from the Malta Financial Services Authority (MFSA) on Jan. 22, 2025.

This pre-authorization signals that the exchange has completed the regulator’s review process and is eligible to be approved for a full MiCA license.

Upon receiving the full license, the crypto exchange plans to offer localized crypto services to over 400 million Europeans through its European Economic Area (EEA) hub based in Malta.

Did you know? The exchange has not been implicated in any major hacking incidents.

Customer support

The crypto exchange offers several support channels to assist users. Live chat is available 24/7 for urgent inquiries.

Additionally, users can contact the support team via email at support@okx.com, with responses typically provided within one business day. For more detailed queries, the exchange has an extensive online Help Center, which includes FAQs, product documents and guides.

In terms of response time, the exchange aims to resolve all user issues within 10 minutes, with many customer service representatives resolving problems within two to three minutes.

User feedback on the crypto exchange is generally positive. On Capterra, the platform has an overall rating of 4.5 out of 5 stars, with users praising its user-friendly interface and comprehensive trading tools.

On GetApp, the OKX Wallet app has a rating of 4.6 out of 5 stars, with users highlighting its straightforward