OKEx rebranded to OKX in January 2022 as it shifts towards a more decentralised model for its cryptocurrency platform.
OKX 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 the Seychelles, OKX is operated by OKX Technology Company Limited.
OKX offers its crypto trading services to users in more than 100 countries around the world. However, if you’re unsure whether you’ll be able to access OKX from your country of residence, contact the platform’s support team for more information.
You can deposit funds into an OKX trading account using the following methods:
However, you’ll need to provide your name, country of residence and proof of ID before you can make a fiat deposit.
The tables below outlines the maker and taker fees that apply when trading on OKX as a regular user.
| Tier | 30-day trading volume | Maker fee | Taker fee | 24-hour withdrawal limit |
|---|---|---|---|---|
| Level 1 | less than 5,000,0000 | 0.080% | 0.0100% | 10,000,000 |
| Level 2 | less than 5,000,000 | 0.075% | 0.095% | 10,000,000 |
| Level 3 | less than 5,000,000 | 0.070% | 0.090% | 10,000,000 |
| Level 4 | less than 5,000,000 | 0.065% | 0.085% | 10,000,000 |
| Level 5 | less than 5,000,000 | 0.060% | 0.080% | 10,000,000 |
| Tier | 30-day trading volume | Maker fee | Taker fee | 24-hour withdrawal limit |
|---|---|---|---|---|
| Level 1 | less than 50,000,000 | 0.020% | 0.050% | 10,000,000 |
| Level 2 | less than 50,000,000 | 0.018% | 0.045% | 10,000,000 |
| Level 3 | less than 50,000,000 | 0.017% | 0.040% | 10,000,000 |
| Level 4 | less than 50,000,000 | 0.016% | 0.035% | 10,000,000 |
| Level 5 | less than 50,000,000 | 0.015% | 0.030% | 10,000,000 |
The maximum amount you can withdraw from your OKX account in each 24-hour period varies according to your trading volume, as outlined in the table below.
| Tier | 30-day volume | Futures trading | 24-hour withdrawal limit |
|---|---|---|---|
| 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.
| Currency | Transaction limit | Daily limit |
|---|---|---|
| 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.
You can sign up for an account with OKX 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.
OKX also supports a few key features which users can access for additional security, including:
If you have any problems with your account or have a query about a transaction, OKX 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 support@OKX.com.
Cons
Disclosure: At the time of writing, the author held IOTA and XLM.
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