OKX (Formerly OKEx) is a cryptocurrency exchange that was founded in 2017 by Hong Kong-based Xu Mingxing. The company still retains offices in Hong Kong but is now headquartered in Malta due to the nation’s favorable approach to crypto regulation. There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies involves a high level of risk. Hey AliIt’s devastating for us to hear about your experience. We give high importance to the safety and security of our user’s account and asset.
Most of the reviews talk about how great the platform is and how easy it is to use, some even say it’s the best exchange out there – and we might have to agree with that. You might not be familiar with Dapps, but as you learn more about crypto, they’re what it’s all about – running apps on a blockchain (a crypto network, like Ethereum). It’s got so much going on, you can even join a pool (group of people) to mine bitcoin, and build apps on a blockchain (a crypto network). Finder.com is an independent comparison platform and
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OKEx Review UK 2021 – Features, Fees, Pros & Cons Revealed
This can be very useful, especially if you are starting in trading. Now that you are well-versed in what services and features OKEx offers, we will show you how you can get started in a few trading steps on the platform. okex review Like all wallets, OKEx has a mobile app available for all users. You can get it from the Apple Store and Google Play Store in all supported countries. Investors have to use the OKB token to stake a claim in the project.
Therefore, the platform charges fixed interest rates on any position held overnight. OKX charges margin interest rates whenever tokens are borrowed. To know full fee details of the OKX cryptocurrency exchange, click here. OKX Fees on Options- Normal users‘ trading options have similar fees to perpetual swaps. VIP status can be achieved with a lower threshold of only 1,000 BTC.
How to Buy on OKEx
For a more detailed and comprehensive view of OKX’s withdrawal fees, you can visit this website. OKX offers many of the same features as other large competitors. Here’s a look at how it compares to another popular exchange, Coinbase. Unverified accounts can withdraw up to 10 BTC per day and trade up to $500, while higher levels give you higher withdrawal limits and transaction limits.
This lets you dodge trading fees, but you’re limited to the trades currently on offer — and OKX’s P2P trade volume is low. We had a hard time finding any orders outside the most popular assets. Fees for cryptocurrency trading depend on the tier at which you trade. Those with more assets and higher volumes will generally have access to lower investment fees. Taker fees are usually larger than maker fees as they involve the removal of liquidity from the market.
Extremely poor customer service
What’s neat about the fee tier structure is that it highlights which one you’re on, so you know exactly what fees you will be paying. The company released major upgrades in 2020 that keep in line with this mission, releasing 170 upgrades. It goes against our guidelines to offer incentives for reviews. You can explore over 1000+ DApps with a single click, create and trade NFTs, swap crypto on DEXs, and explore GameFi. OKEx allows you to stake and earn interest on your crypto holdings via OKEx Earn.
OKEx also offers an earning platform where users can earn interest on their crypto portfolio. You get extra money in your crypto wallet when you lend out your cryptocurrencies or stake them in projects to secure a blockchain network. There are several great projects you can put your crypto on to make some extra income. Featuring is MakerDAO, USDC, USDT, TUSD, ETH, BTC, and others.
Suggestions that security levels of the exchange itself were insufficient were refuted and new guidelines on account and wallet security issued to clients. The exchange itself lists GSLB, distributed server clusters and cold storage multi-signature wallets among the security measures in place. In all, OKX is an excellent platform in almost all aspects when we consider trading availability, costs, fees, and the depth of markets they provide. Within these categories, they can certainly rival some of the very best in the industry and often come out on top.
However, it is easy to see why this could be a drawback for some users. If you go to the assets tab, you’ll be able to see the deposit section where you can send from your wallet to the exchange. Double-check and make sure that you are sending the correct cryptocurrency to the correct address or your funds may be lost, like any other cryptocurrency transaction.
Although all cryptos carry a certain level of risk, the more obscure altcoins can be more volatile. Traders should approach these with caution, particularly if using leverage. Make use of the technical analysis and charting tools on the trading platform to better understand any trends or patterns https://www.tokenexus.com/ for a particular asset. OKX (formerly OKEx) is a global crypto exchange providing OTC trading, yield farming and DeFi services. This 2023 broker review will explore more about what OKX has to offer to UK investors, including its trading platform, fees, mobile app and deposit/withdrawal options.
- Those include market order, limit market order, advanced limit order, stop-limit order, trailing top order, iceberg and Time-weighted average price (twap) orders.
- If you struggle with any of these order types, you can always check out the OKX derivative docs.
- While they all use the same user interface, they differ in terms of the functionality on the platform.
- Liquidity is always available, yet the number of supported pairs is fairly low.
- Traders can browse NFT collections by category or explore the vast OKX NFT Marketplace as they see fit.
- If you are buying with fiat, OKX uses several third-party services.