OKEx Review UK 2021 Features, Fees, Pros & Cons Revealed

okex review

Feel free to check out Guy’s detailed video about Polkadot Parachain Auctions to find out more. This is more the case with the futures and swaps than with the options. As you will see, you can either open or close your orders with opposing types. Finally, there is a dropdown at the top of the charts where you can observe the “Greeks” of the options. These are basically the factors that determine the option price sensitivity. We won’t go into the specifics of the Greeks here, but Guy did a complete video on that.

okex review

The majority of customers claim that the app is very easy to use, has a clear design and is completely glitch-free. That said, if you want to manage your account from the palm of your hand, it’s recommended to download the app and have the ultimate experience. Functionality and the number of supported coins wouldn’t mean anything without security. Imagine having exceptional functions and thousands of cryptocurrencies to choose from, just to one day log into your account and see that all of your cryptocurrencies are gone. There’s a huge range of coins to trade, with new coins added all the time, and there’s advanced trading tools and features if you want them, this is optional of course.

Spot Fees

However, products like OKX Convert and Basic Trading vastly improve accessibility. Experienced traders considering switching to OKX will find the trading experience professional, with fast order execution and responsive charts, making OKX a top trading platform. OKX is an intuitive trading platform that offers excellent analysis capabilities and several order types designed to make it easier to manage trades. The trading interface is easy to access via the top navigation bar, which provides quick links to virtual features, ensuring that OKX users can quickly get to grips with the platform’s layout.

  • OKX also provides timely articles, industry analysis, and the opportunity to become an OKX broker.
  • OKEx fees for perpetual swaps are similar to the futures contract fees for regular users.
  • Withdrawal fees can change; for example, in 2020, an announcement confirmed that multiple cryptos, including BTC, ETH and USDT-ERC20 were to have their fees lowered.
  • Thankfully, the company understands this well and has implemented a wide range of measures designed to remove any single point of failure to protect users and OKX’s infrastructure.
  • However, we’ve previously reviewed the best options for users wanting to trade on a no-KYC exchange.
  • The company was founded in 2017 by Xu Mingxing, a Chinese entrepreneur.

Select the cryptocurrency you wish to buy, the fiat you want to pay with, and how much you want to invest. It takes about 1-15 minutes for your funds to be credited to your account. This can be done in either of two ways; you can download the OKEx app and create an account, or if you are more comfortable with a desktop, head down to their official website. Click on the “sign up” icon on the top right corner to get started. OKEx also gives the offer of signing up with just your mobile phone.

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That being said, if you prefer using an alternative exchange, make sure to check out platforms such as Binance, Coinbase, KuCoin, and Kraken. These are the leading cryptocurrency exchanges in the industry, each coming with a set of major benefits to the user. Since OKEx provides you with multiple payment options, you will have no issues here. You can also select “Margin Trading.” This will allow you to use leverage to try to amplify returns when trading in futures, advanced options, and perpetual swaps. The advanced service allows professional traders to engage in sophisticated transactions involving multi-currencies to maximize profits.

Most exchange platforms have significantly improved their security over the years. OKEx is up there with those with some of the most secure systems. If you are a level 1 regular user, you can withdraw a maximum of 500 BTC every 24 hours. On the other hand, the VIP7 traders can withdraw up to 2,000 BTC every 24 hours. You might still get some small charges from the payment method you are using when you deposit funds. For example, bank transfers can have things like conversion charges or transaction fees.

OKEx Exchange Review ( : Is it a good exchange?

While the exchange supports the trade of 146 cryptocurrencies on the platform. The important digital coins are ETH, BTC, LTC, EOS, ETC, TRX, BCH,  XRP, TRUE, ABT, MITH, HSR, BTM, IOST, and AUTO. OKX is a safe and legitimate cryptocurrency exchange with several security measures on its platform to protect client information and keep funds safe in a wallet. According to our research, OKX has not been involved in an exchange hack or experienced a significant security breach or compromise.

The security features on the OkEx platform are some of the most robust on the market. First off, there is two-factor authentication that you should set up as soon as you have an account with OkEx. It’s okex review easy to do and it provides much better protection for your funds. There is also support for facial recognition verification, which can be used instead of or in addition to phone number verification.

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