They classify traders based on their monthly trade volume and have 5 levels for their normal users and 7 VIP levels. While still not the cheapest platform to use, OKEx maintains what many traders agree are more industry-standard fees. Like most platforms, they have varying fees for their spot and okex review futures markets. Elements on the trading platform like tools, charts, and user interface always matter as they determine the overall user experience and convenience when you want to trade crypto. When it comes to security standards in cryptocurrency, OKX is one of the safest trading platforms.

OKEx Review: Cryptocurrency Exchange With Derivatives Trading

KYC (Know Your Customer) is a standard requirement for all trading levels on OKX, as it is a centralized exchange platform. It is essential to complete in order to start buying, selling, or trading on OKX. The OKX trading platform is available as either web-based or a desktop trading platform while also being compatible with mobile trading on both Android and iOS devices. From a user perspective, the company also abides by all required KYC and AML regulations as well as requiring 2-factor authentication to access the exchange. All user-asset deposits and withdrawals require layered risk-management mechanisms before being posted to the blockchain for confirmation.

Convert Crypto with Zero Fees

However, if you’re a newcomer seeking a more user-friendly experience with easier fiat deposits, exploring other options might be prudent. However, due to some inconsistencies, unclear information, and past customer experiences, it’s a good idea to proceed with caution. Ensure you’re using the best security features OKX offers to keep your account and funds as secure as possible. If you’re comfortable with online financial products and follow security best practices, you’ll likely have a positive experience with OKX. OKX uses industry-standard security practices, including cold storage for most customer assets. It also has offers additional features like the ability to set up a withdrawal password and anti-phishing codes.

• This can be done through spot or margin trading of cryptocurrencies, futures contracts, and other digital tokens.
• When it comes to OKEx, the platform is definitely more recommended for experienced users.
• The complexities of DOT and KSM slot auctions are outside the scope of this article.
• Therefore, regardless of how you prefer to make money with your digital assets, the platform should cater to your needs.
• While working as a Financial Advisor, I had my eyes opened to the world of crypto and its potential to help make the world a better place.
• It also offers market maker and taker fees starting from 0.15% and 0.2% respectively, with discounted fees for high-volume traders.

Disgusting service

• We focus on the essentials and potential savings through native tokens and various discount schemes.
• This means you can offer your computer hash rate that is needed to mine digital assets and in return, you will be able to get an additional income.
• OKX deposit fees vary based on your location and your chosen deposit method.
• Futures are instruments whereby you agree to buy or sell some asset in the future at some predetermined time.

Despite limitations, the platform is ideal for traders seeking low fees and robust trading capabilities. To be honest, I did struggle a bit with the stop loss tools, as they didn’t quickly provide access to more advanced features like the trailing stop loss. However, I appreciated how it guides users to set the correct stop loss by forecasting their profit or loss. I bought LTC via Banxa, a banking intermediary because direct deposit fiat options are limited.

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Remarkably, 98% of these assets are ‘clean’, amounting to $15.02 billion, showcasing a transparent and reliable asset base. Of course, there is no need for you to reach out if you can find the required information in their support centre. They have most of the answers that other users have posted, and it is indeed quite comprehensive.

OKX Review in 2024: A Crypto Powerhouse

Our Take On OKX Crypto Exchange