However, the maker and taker fees on OKX can be reduced to as low as 0.06% and 0.08% for those holding over 2,000 OKB tokens within the OKX wallet. Compared to Binance and KuCoin, which settle trading fees at a rate of 0.1%, OKX’s fees are highly competitive. To prevent its customers from wasting their money while learning, OKX offers all users a free crypto demo account to place trades at live market prices. This makes it possible to test strategies quickly without spending real money, which makes trading far more accessible to those without experience.
- If you pop on over to the position tiers guide, you will see that the 100x leverage (or 1% margin) only applies to those positions that are less than 3,000 contracts.
- OKX has got a great marketplace to buy and sell NFTs – which includes all the big brands such as Bored Ape Yacht Club and CryptoPunks.
- The support is good too, and there’s tonnes of resources to learn from about trading and crypto.
- Plus, you can earn interest on your crypto if you want to, or get a loan backed by your crypto.
- At first glance, the interface is not as appealing compared to the CopyTrader feature offered by eToro Australia but it does have some nice benefits.
As OKX grows, so does its commitment to facilitating a seamless entry into the world of cryptocurrencies for its users, fostering a space where both seasoned and novice traders can thrive. The OKX app includes all the necessary https://www.tokenexus.com/okex-exchange-review/ trading features, like stop-loss orders, limit orders, take-profit orders, margin trading, and a variety of indicators. The app has a beautiful design and layout – its dark theme contributing to a user-friendly experience.
Features and tools
Spot trading for all products, including margin and futures contracts, looks largely the same. Unlike KuCoin, which Americans can still use in a limited fashion, OKX is fully inaccessible in both countries (however, it’s not illegal, and you can still make trades with USD). Since we’re based in the U.S., we turned to ExpressVPN to help us explore the exchange using a U.K.
You can indulge in grid trading, work with signal bots to get the correct trading signals, and use them for arbitrage trades, dollar cost averaging, and more. While OKB is the utility token, OKT is related to the OKT Chain, a layer-1 blockchain. An exclusive “third-party payment” method allows you to purchase through third-party service providers like Banxa, Xanpool, and more. Additionally, the parent firm OK Group has its roots in Hong Kong, China, and it also runs an incubator-like initiative to propel promising web3 startups further. OKX presently defines itself as a “portal to web3”, led by the OKX DEX, the cross-chain wallet, an NFT marketplace, and more.
Binance vs OKX Security
It recently underwent a rebranding and platform overhaul, resulting in exciting developments. In addition to spot trading, OKX offers its users the opportunity to trade futures, perpetual swaps, and options markets. The exchange has also introduced new features such as an earn section, an NFT marketplace, a crypto loans area, a launchpad, trading bots, and even a way for customers to get involved in DOT slot auctions.
However, with some posting historical returns of up to 17,000%, Jumpstart provides an intriguing way for OKX customers to invest their OKB tokens. In January 2020, OKX lowered the fees on BTC, ETH, XRP, BCH, and USDT-ERC20. This is a good sign for anyone concerned about fees, since this event has indicated that OKX are willing to lower fees if they can, even as they handle more cryptocurrency volume. For instance, basic verification — simply providing the ID — lets you deposit and withdraw 1000 USD over the trading lifetime.
Security Features
OKX (Previously OKEx) is a global trading platform that is available to over 100 countries across the globe. However, these countries also have other options than OKX (Previously OKEx). Crimea, Syria, Ecuador, Bolivia, The USA and its territories, Hong Kong, Sudan, Malaysia, Kyrgyzstan, Bangladesh, and Cuba. The trading fees for Spot, Futures, and Perpetual Swaps are different.
OKX Exchange (previously OKEX, more on that later), is a large and massively popular cryptocurrency exchange and one of the OG’s in the crypto space, established all the way back in 2016. With the rebranding and platform overhaul, we felt it appropriate to do an updated OKX review as this exchange has got some exciting developments underway. You’ll get started by registering an account using your personal contact information. To access all the trading features OKX offers, you’ll need to complete its KYC (know your customer) requirements. A Level One KYC-verified account requires entering basic information, including a government identification number. Level Two requires uploading a picture of their ID and a selfie through partner Netverify.