OKX

What is OKX?

​OKX, formerly known as OKEx, is a global cryptocurrency exchange established in 2017 by Star Xu. In 2022, OKX rebranded from OKEx to reflect its expansion into financial services and Web3 technologies. Headquartered in Seychelles, it provides a comprehensive suite of services, including spot and derivatives trading, DeFi products, and the Web3 ecosystem.

The platform supports over 300 cryptocurrencies and operates in more than 100 countries, with offices in Hong Kong, Singapore, the UAE, Silicon Valley, and the Bahamas. OKX has secured regulatory licenses in various jurisdictions, such as Dubai and Singapore, and has established partnerships with prominent entities like Manchester City Football Club and McLaren Racing. 

OKX Futures Fee Schedule

​OKX's futures trading fees are structured to accommodate both regular and VIP users, with rates determined by factors such as 30-day trading volume, asset holdings, and OKB token balances. For regular users, maker fees begin at 0.02% and taker fees at 0.05%. 

VIP users benefit from reduced fees, with maker fees ranging from 0.015% to as low as -0.005% (indicating a rebate) and taker fees from 0.03% to 0.015%, depending on their VIP level. Additionally, OKX charges a forced liquidation fee equivalent to the user's taker fee rate and an expiry settlement fee of 0.01% for all users, regardless of their tier level.

OKX Regulation & Licensing Explained

OKX holds regulatory licenses or approvals from MiCA (Europe), FinCEN (USA), FSA (Seychelles), MFSA (Malta), AUSTRAC (Australia), SCB (Bahamas), SFC (Hong Kong), VARA (UAE), CVM (Brazil), and MAS (Singapore).

Where is OKX Available?

OKX is accessible from 180 countries worldwide and can be used in 10 languages. The exchange does not engage with any jurisdictions associated with terrorism and terrorist financing, with 8 countries on the OKX prohibited regions list.

Is OKX Safe and Legit?

OKX emphasizes security through robust transparency measures, notably its Proof of Reserves system, which ensures all user assets on the exchange are fully backed at a 1:1 ratio. Utilizing the advanced zero-knowledge zk-STARK algorithm, OKX securely verifies asset balances while maintaining user privacy, allowing customers to independently confirm that their funds are held safely. 

The platform employs advanced encryption techniques to safeguard data during transmission and storage. To enhance account security, it offers 2FA options, including authenticator apps and anti-phishing codes. OKX also utilizes a combination of cold and hot wallets, with offline decentralized storage and semi-offline multiple signatures, to prevent unauthorized deposits and withdrawals.