- Very low and competitive trading fees
- Excellent trading platform
- Extensive array of tradeable markets
- High liquidity
- Customer service can be slow at times
- Country restrictions
- CNY is only fiat currency supported
OKEx is an industry leading cryptocurrency exchange which has been offering exceptional trading services to crypto enthusiasts around the world since 2014. The OKEx exchange was founded by financial industry professionals and funded with millions of dollars by leading enterprises. OKEx is highly reputable in the cryptocurrency space and continues to offer innovative services using blockchain technology. OKEx is headquartered in Hong Kong at 255 Gloucester Road, Causeway Bay, due to their favorable laws and regulations towards cryptocurrency exchanges. Being located here, OKEx has been able to flourish and now features the trading of hundreds of cryptocurrencies and is one of the top crypto exchanges by trading volume with millions of users across over 100 countries. The OKEx exchange strongly believes in blockchain technology and the effects it will have on our global economy. Therefore, they strive to help it grow by providing the best customer experience they can and offer a variety of cryptocurrency trading services. At first glance, OKEx seems like a highly reputable cryptocurrency exchange, but are they really? Let’s find out in the following review where we’ll analyze all aspects of this cryptocurrency exchange and see what sets OKEx apart from the competition.
OKEx features a proprietary web-based trading platform that provides professional and secure trading services for investors. The platform is intuitively designed with a standard user friendly interface that’s found on all the best cryptocurrency exchanges. The exchange platform supports the trading and exchange of cryptocurrencies as well as participation in the crypto futures markets. The charting package incorporated into the exchange is highly advanced and features a wide variety of technical indicators, time frames, chart types, and drawing and analysis tools. Traders can view the charts in full screen for advanced analysis or small charts with other market data for analysis. As well, the order system is highly intelligent and advanced by instantly matching traders with one another to collude a deal. All in all, the trading platform is great for both beginner and advanced cryptocurrency traders.
OKEx features a truly extensive array of cryptocurrency assets available to trade on their platform. Traders can trade and exchange hundreds of cryptocurrencies including the most popular and highly liquid cryptos and the newest cryptos just released to the markets. These cryptocurrency assets are available to trade in crypto to crypto pairs and against the Chinese Yuan (CNY). The crypto markets in which the extensive list of cryptos can be traded include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and OKB which is OKEx’s very own cryptocurrency. Other markets in which traders can participate in are Futures and include Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Ethereum Classic (ETC), Bitcoin Cash (BCH), Ripple (XRP), EOS (EOS), and Bitcoin Gold (BTG). Also, a new feature to OKEx is the ability to trade cryptocurrency indices created by OKEx. All in all, OKEx features one of the most impressive range of markets we have ever seen offered by a cryptocurrency exchange.
Fees and Commission
OKEx features a volume based fee structure which probably offers the lowest fees in the industry. Traders are subject to a maker or taker fee which is dependent on the 30 day trading volume. For Spot Trading maker fees range from 0.15% to 0.02% and taker fees range from 0.20% to 0.05%. For Futures Trading, maker fees range from 0.03% to -0.01% and taker fees range from 0.05% to 0.02%. See the table below for a more in depth overview of the range of fees.
Security and Fairness
OKEx has nearly five years of experience in the cryptocurrency trading industry, which is fairly impressive due to the new nature of the space. In these five years, OKEx has yet to experience any serious hacks and has thus proven themselves to be a trustworthy and secure exchange. However, the exchange did suffer an attack in October of 2017, where many accounts were hacked, and a small amount of funds were stolen. Other than that, however, the exchanges security has been okay. OKEx implements state of the art security features such as the storing of the majority of their cryptocurrency in secure cold storage wallets. Also, they implement high security protocols such as SSL encryption technology for the secure transmission of sensitive data.
The customer support offered by OKEx is available 24 hours a day, 7 days a week in the English and Chinese languages. The support methods available include live chat, email, telephone via 5 international numbers, and contact through their variety of social media channels. The support received is mediocre and somewhat slow, but they do take the time to respond to all inquiries. Additional methods of support are very limited as the website does not include an FAQ page, knowledge base, or educational resources section.
Overall, the OKEx cryptocurrency exchange is of high quality and very popular among all types of traders, whether they’re professionals or just starting out. The trading platform is highly advanced and sophisticated with beginner friendly features as well. The tradeable markets offered by OKEx are truly extraordinary by featuring hundreds of crypto to crypto trading pairs, crypto to fiat trading, futures trading, and indices trading. As well, the exchange is well experienced and considered safe and secure. OKEx is a cryptocurrency exchange you should definitely consider.
The following are the common questions that customers inquired about OKEx.
Is OKEx regulated?
No, it is not regulated.
Is OKEx a scam?
No, OKEx is a legit exchange and is trusted by many.
Where is OKEx based?
OKEx is based in Hong Kong at 255 Gloucester Road, Causeway Bay.