Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
What is OKEx?
OKEx is a digital asset trading platform with tools and options designed to suit both beginner and experienced traders. As well as spot trading of cryptocurrencies, it also allows fiat-to-crypto transactions and futures trading.
Founded in 2014 and incorporated in Belize, OKEx is operated by OKEX Technology Company Limited. The platform announced in April 2018 that it was planning on opening an office on the cryptocurrency-friendly island nation of Malta, offering its services to millions of users in over 100 countries.
Which cryptocurrencies can I buy/sell?
- Supported fiat currencies:
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more
- Supported cryptocurrencies:
Approximately 269 cryptocurrencies
OKEx offers its crypto trading services to users in more than 100 countries around the world, including Australia. However, if you’re unsure whether you’ll be able to access OKEx from your country of residence, contact the platform’s support team for more information.
Which payment methods are accepted?
You can deposit funds into an OKEx trading account using the following methods:
- Cryptocurrency transfer
- Bank transfer
- WeChat Pay
However, you’ll need to provide your name, country of residence and proof of ID before you can make a fiat deposit.
How much will it cost me to use OKEx?
The tables below outline the maker and taker fees that apply when trading on OKEx.
|Level 1||600 BTC or less||0.15%||0.2%||100 BTC|
|Level 2||601 – 1,199 BTC||0.14%||0.19%||150 BTC|
|Level 3||1,200 – 2,399 BTC||0.13%||0.18%||200 BTC|
|Level 4||2,400 – 11,999 BTC||0.12%||0.17%||250 BTC|
|Level 5||12,000 – 23,999 BTC||0.11%||0.15%||300 BTC|
|Level 6||24,000 – 59,999 BTC||0.08%||0.11%||400 BTC|
|Level 7||60,000 – 119,999 BTC||0.05%||0.08%||500 BTC|
|Level 8||120,000+ BTC||0.02%||0.05%||1,000 BTC|
|Level 1||10,000 BTC or less||0.03%||0.05%||100 BTC|
|Level 2||10,001 – 19,999 BTC||0.025%||0.045%||150 BTC|
|Level 3||20,000 – 29,999 BTC||0.02%||0.04%||200 BTC|
|Level 4||30,000 – 59,999 BTC||0.015%||0.035%||250 BTC|
|Level 5||60,000 – 99,999 BTC||0.01%||0.03%||300 BTC|
|Level 6||100,000 – 199,999 BTC||0.005%||0.025%||400 BTC|
|Level 7||200,000 – 299,999 BTC||0%||0.02%||500 BTC|
|Level 8||300,000+ BTC||-0.01%||0.02%||1,000 BTC|
Are there any transfer limits?
The maximum amount you can withdraw from your OKEx account in each 24-hour period varies according to your trading volume, as outlined in the table below.
|Level 1||Less than 600 BTC||Less than 10,000 BTC||100 BTC|
|Level 2||600 – 1,199 BTC||10,001 – 19,999 BTC||150 BTC|
|Level 3||1,200 – 2,399 BTC||20,000 – 29,999 BTC||200 BTC|
|Level 4||2,400 – 11,999 BTC||30,000 – 59,999 BTC||250 BTC|
|Level 5||12,000 – 23,999 BTC||60,000 – 99,999 BTC||300 BTC|
|Level 6||24,000 – 59,999 BTC||100,000 – 199,999 BTC||400 BTC|
|Level 7||60,000 – 119,999 BTC||200,000 – 299,999 BTC||500 BTC|
|Level 8||120,000+ BTC||300,000+ BTC||1,000 BTC|
Maximum limits also apply to individual transactions and to the amount you can trade each day. The limits for a selection of popular currencies are shown in the table below.
|Bitcoin||100 BTC||500 BTC|
|Litecoin||10,000 LTC||10,000 LTC|
|Ether||1,000 ETH||1,000 ETH|
|Ethereum Classic||10,000 ETC||50,000 ETC|
|Tether||500,000 USDT||500,000 USDT|
Finally, the transaction limit when placing a fiat-to-crypto trade varies depending on the level of account verification you have completed. After submitting your name, country of residence and ID number, you’ll be able to access a single transaction limit of RMB800 (Chinese renminbi). This limit can be raised as high as RMB1,000,000 per transaction by submitting additional information.
Is it safe to use OKEx?
You can sign up for an account with OKEx simply by providing your email address and creating a password. This allows you to start trading crypto-to-crypto, but if you want to make a fiat deposit or withdraw any funds from your account, you’ll need to provide additional personal details.
OKEx also supports a few key features which users can access for additional security, including:
- 2-factor authentication
- Mobile verification codes for withdrawal, changing password and security settings
- Anti-phishing codes with every email from OKEx
Compare alternatives to OKEx
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Bank transfer (ACH), Credit card, Debit card, Bank transfer (SEPA), Wire transfer
Instant Card Withdrawal: Up to 1.5% of the transaction plus a minimum of $0.55
Outgoing Wire Transfer: $25
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If you have any problems with your account or have a query about a transaction, OKEx offers a handy online support centre with answers to a wide range of frequently asked questions. However, if you can’t find the answer you’re looking for, you can submit an online support request, open a live chat window or email email@example.com.
Pros and cons
- Buy and sell more than 100 cryptocurrencies
- Leverage trading and futures trading available
- Desktop client available
- Competitive trading fees
- Large trading volume
- Simple and straightforward trading interface
- Established company
- Mobile app still in beta testing phase
- Futures trading is only for experienced traders and should be avoided by beginners
Disclosure: At the time of writing the author held IOTA and XLM.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.