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

okex review

This tool checks that the data is captured in OKX’s Merkle tree snapshot. Given what has happened with FTX, exchanges have been scrambling to prove that client funds are secure and that exchanges are adequately collateralised. It is also worth noting that, unlike many exchanges, OKX has suffered no known hacks to date. Looks like their security protocols are certainly up to the challenges of blocking hackers.

okex review

It claims to process a daily turnover of $1.5 billion only from its Bitcoin futures trading product. It boasts over 20 million active users and has a global presence in more than 200 countries worldwide. It offers traders over 400 trading pairs and has one of the most user-friendly trading platforms in the industry. OKX also offers a wide range of alternative products, including margin trading, futures trading, perpetual swap contracts and trade options. Despite these attractive features, the OKX crypto exchange is not without controversy, with some of its practices raising eyebrows even in the wild-west world of crypto.

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Further, it supports PoW (Proof-of-work) mining of 9 major cryptocurrencies. 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. Note, however, that you won’t be able to buy or sell most small altcoins directly. You will need to trade them with popular coin-based markets like Bitcoin and Ether. Simultaneously, most of the other trading markets (like lending, derivatives, and margin trading) are majorly limited to the top cryptocurrencies.

  • Derivative instruments are leveraged, which means you can magnify your gains/losses many times over.
  • With an excellent web platform, developer tools and dynamic charts, OKX is a popular choice for technical traders.
  • As we value fairness and transparency on our platform, we are committed to resolving this issue and providing you with a satisfactory explanation.
  • There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.
  • 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.

Before you can even get started trading on OKX, you have to go through the rigorous verification process (which usually involves proof of identification). The reason for this is OKX’s commitment to certifications, and compliance with regulations and insurers. Moreover, there is a great FAQ section and another exciting section called “Join the Community,” where users can get their issues answered and communicate with other users.

Mobile Trading

All in all, it has all the tools you need as a beginner while having a vast array of options for those looking to become advanced traders. Rock bottom trading fees is a major strength of OKex and the exchange boasts among the lowest in the cryptocurrencies market. Fees are tiered based on average 30-day trading volumes but are low even at their upper https://www.tokenexus.com/ end. The highest trading fees payable for low volume accounts are a 0.15% maker fee and 0.2% taker fee. This drops as low as 0.02% and 0.05% for makers and takers fees respectively. In a move that mirrors that of other major Chinese exchanges such as Binance and Huobi Pro, OKex also launched their own ‘utility token’ cryptocurrency in early 2018.

I will also give you some top tips that you need to know when using the platform. The value of digital currencies can go up or down frequently…. The exchange has been available for years now, and it has continued to operate despite security threats and changing regulatory procedures.

Risk Management

If you plan to acquire a coin for a certain price at a certain time, you can make a dual investment and guarantee that you’ll get extra USDT if you have to pay more than market rate. It’s a hedge to ensure you don’t lose principal even if you misjudge the market. The left-hand pane shows the real-time prices of popular cryptocurrencies; the right-hand pane is the order book. The graph shows the fluctuating value of the lead currency (BTC in the screenshot above), with gains in green and losses in red.

okex review

OKex also offers futures trading for Bitcoin, Ethereum and EOS with weekly, bi-weekly and monthly contracts available. Leveraged margin trading is also available for futures contracts. The support team does their best to provide relevant answers within a fast timeframe and proved to be adequately successful under testing. Beyond this direct contact service, you will also find a growing educational infrastructure with a lot of value to offer traders, particularly those new to the industry, through the OKX academy. All information contained herein should be independently verified and confirmed.

OKX Verdict

With OKEx Cloud, users can access OKEx’s market depth, cutting-edge core technology, flexible token listing, cross-platform development, spot trading, P2P trading, and 24/6 global customer support. To access the OKEx Cloud, users will have to fill okex review an application form and conduct an audit with a dedicated project manager. At this point in time, OKEx classes as one of the world’s largest exchanges by features and trading volume, a title it has rapidly gained since its establishment in 2013.

okex review

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