OKX Review

OKX is an international cryptocurrency exchange with two quite different propositions. Global users may receive a broad trading platform with conventional perpetual futures and options, while users in the European Economic Area receive MiCA regulated crypto services and separate MiFID II regulated X-Perps.

That distinction matters. Fees, leverage, deposits, legal protection and even the contracting OKX company depend on where you live. This OKX review therefore compares Global and EEA accounts instead of presenting one worldwide product as if it applied everywhere.

OKX review summary

OKX states that its infrastructure serves about 120 million traders worldwide. The exchange combines spot markets, margin trading, Earn, bots, recurring purchases, demo trading and a separate Web3 wallet. Global users may also receive perpetual futures, dated futures and options, subject to local restrictions.

EEA users trade crypto through OKX Europe Limited, which holds a MiCA authorisation from the Malta Financial Services Authority. X-Perps are provided by OKX Europe Markets Limited under a separate MiFID II investment firm authorisation. Eligible EEA users can trade more than 80 crypto, stock, ETF and commodity linked markets with up to 10x leverage.

The EEA spot fee depends on the account type. A spot only account starts at 0.20% maker and 0.35% taker. After opening X-Perps, the regular spot rate becomes 0.08% maker and 0.10% taker. The partner page linked from this review advertises a 20% discount on eligible trading fees.

Global regular spot fees are commonly 0.08% maker and 0.10% taker, but the exact schedule depends on entity, market and user tier. Never use an EEA or Global fee quoted in a review without checking the fee page inside your own account.

What is OKX?

OKX launched in 2017 and changed its name from OKEx to OKX in 2022. It combines a central exchange with an extensive self managed cryptocurrency wallet for Web3 applications.

The Global platform supports spot, margin, bots and, where local rules permit, perpetual futures, dated futures and options. Its terms assign users to different companies, such as OKX Bahamas, OKX Singapore or Aux Cayes, based on residence. There is no single Global licence that covers every international user.

In the EEA, crypto custody, exchange and transfer services are provided by the Maltese company OKX Europe Limited. X-Perps use the separate company OKX Europe Markets Limited. European users therefore need to distinguish the MiCA crypto account from the MiFID II derivatives account.

Global versus OKX Europe

The main regional differences are:

Global products can still be restricted by country, experience, identity checks and local rules. A feature displayed on OKX.com is not proof that it is available to your account.

Regulation and company structure in Europe

OKX Europe Limited, registration C88193, holds a MiCA authorisation from the MFSA for EEA crypto services. The company provides the central exchange, custody and supported fiat services.

OKX Europe Markets Limited, registration C95813, is authorised as an investment firm under Malta’s Investment Services Act and MiFID II. It offers X-Perps in all 30 EEA countries to eligible verified users who pass an appropriateness assessment.

For Dutch users, the investment firm appears in the AFM register through an incoming European passport. This does not mean that every OKX company is directly licensed by the AFM. Primary supervision remains in Malta.

DNB fine in 2025

De Nederlandsche Bank imposed a €2.25 million fine on Aux Cayes FinTech Co. Ltd. on 27 May 2025. The case concerned crypto services offered in the Netherlands without the registration required at that time, from July 2023 through August 2024.

The fine relates to an earlier period and a different group company than the current EEA MiCA provider. It still disproves the old claim that OKX had always operated with the required Dutch registration.

Opening and verifying an account

You can register with an email address or telephone number. OKX then asks for identity verification and can request information about residence, account purpose and the source of funds.

Global verification requirements vary by entity. EEA users must complete KYC before using regulated services. Access to X-Perps also requires an appropriateness assessment about leveraged derivatives. Failing the assessment means the product is not activated immediately.

20% trading fee discount

The current partner page advertises a 20% discount on eligible trading fees. This also applies to eligible Global spot trading, not only to EEA spot trading. Applied to the common Global rate, 0.08% maker becomes 0.064% and 0.10% taker becomes 0.08%.

Extra welcome tasks and deposit rewards can be personalised. OKX may show a different percentage, task or maximum reward after registration in the Campaign Center. Check our OKX referral code page and the terms displayed in your own account.

The discount does not reduce spreads, funding, margin interest, blockchain network fees or card conversion spreads.

Markets and trading platform

OKX lists Bitcoin, major altcoins, stablecoins and smaller projects. Global and EEA catalogues differ, so a worldwide coin count should not be treated as a European count.

The trading platform includes an order book, charts, limit and market orders, bots and APIs. The app also supports recurring purchases and demo trading. Less liquid markets may have a wider spread and more slippage even if the percentage trading fee is low.

Eligible EEA users can also see Unified Tokenized Stocks. These are tokens or tracker certificates linked to shares and ETFs, not direct company shares. They do not provide normal shareholder voting rights or dividends and add issuer and custody risk.

The Web3 section supports multiple blockchains and decentralised applications. It gives access to many more tokens than the central exchange, but those tokens have not necessarily passed the central listing process.

Deposits and withdrawals

Global payment methods depend on country and can include bank transfer, Visa, Mastercard and third party payment providers. More than one fiat currency may be supported, but the price and fee shown before confirmation are the relevant figures.

EEA users can use SEPA and SEPA Instant. Country specific methods may include iDEAL in the Netherlands. OKX currently charges no own fee for a standard SEPA deposit or withdrawal, although the bank can charge and settlement can take up to two business days.

Crypto deposits normally have no OKX deposit fee. Withdrawals carry a network dependent charge. Always verify the blockchain and address because an incorrectly sent transaction is usually irreversible.

OKX trading fees

Global regular spot fees are commonly 0.08% maker and 0.10% taker. With the 20% discount on eligible spot trades, the calculated rates become 0.064% maker and 0.08% taker. Some pairs, countries and VIP levels use a different schedule. Global perpetual and futures fees commonly start at 0.02% maker and 0.05% taker.

In the EEA, an account without X-Perps starts at 0.20% maker and 0.35% taker. With X-Perps activated, regular spot fees are 0.08% maker and 0.10% taker. X-Perps themselves start at 0.02% maker and 0.05% taker, excluding hourly funding and execution effects.

For comparison, read our Bitvavo review and Bybit EU review. Their current promotions are described separately on the Bitvavo referral page and Bybit referral page.

Margin and derivatives

Global OKX offers perpetual futures with leverage up to 125x on supported products, plus dated futures and options where local regulations permit. High maximum leverage is not a recommendation. A small price movement can cause liquidation and loss of the entire margin balance.

EEA spot margin supports up to 10x on a defined set of eligible assets. Interest is charged on borrowed funds and the position can be liquidated if collateral falls too far.

EEA X-Perps are expiry futures that use funding to keep the contract close to the reference market. They have a fixed term of about five years despite the word Perps. Funding is settled hourly under the current EEA fee documentation.

The EEA catalogue now covers more than 80 markets across crypto, shares, ETFs and commodities. Examples include BTC, ETH, Apple, Nvidia, Tesla, SPY, QQQ, gold, silver and oil. These contracts do not provide ownership, voting rights or dividends. EEA retail users can use up to 10x leverage after passing the appropriateness assessment.

OKX Card for EEA users

The OKX Card is a virtual Mastercard linked to OKX Pay. It spends USDC or USDG and converts the required amount to euros at payment.

OKX lists no issue, subscription, inactivity or own foreign exchange fee. A 0.1% conversion spread applies. The virtual card can be added to Apple Pay and Google Pay. A physical card is not currently offered.

Cashback only applies to eligible payments funded with USDG. Rates and monthly caps depend on VIP level and the terms displayed for the account, so the app is the source of truth.

X-Drops in Europe

X-Drops is an EEA reward programme. The public page currently mentions an eligible balance from €500, but each campaign can define different assets, thresholds and reward pools.

Users join a campaign in the app. OKX takes a random snapshot during the last hour of each campaign day. Assets are not technically locked, but a balance below the required threshold at the snapshot can result in no reward.

Earn and staking

Simple Earn can include flexible and fixed products. On-chain Earn uses staking or an external blockchain protocol. Rates and availability change and a displayed APY is not a guaranteed savings rate.

EEA users may also access BETH and OKSOL liquid staking. These tokens represent staked ETH and SOL at a stated one to one relationship, but they still involve redemption, protocol and market risks.

Web3 wallet

The OKX Web3 wallet is separate from the central exchange. It provides access to DeFi, decentralised exchanges and multiple networks.

In this wallet you control the recovery credentials and carry the risk of incorrect transactions, malicious tokens and vulnerable smart contracts. A cold wallet can provide more isolation for long term storage.

Security and Proof of Reserves

OKX supports passkeys, authenticator apps, withdrawal protection, anti phishing codes and device checks. Users must enable the relevant controls and use a unique password.

The July 2026 Proof of Reserves was the 45th report and listed $23.12 billion in primary assets. Published ratios included 105% for BTC, 103% for ETH, 112% for USDT and 101% for USDC. zk-STARK proofs allow users to verify inclusion in the calculation.

Proof of Reserves is a useful transparency tool, but it is a snapshot. It does not provide a complete audit of liabilities, a government guarantee or deposit insurance.

The old statement that OKX had never been hacked was too absolute. In December 2023, a deprecated smart contract in the separate OKX DEX was exploited for a reported loss of about $2.7 million. The central exchange was not the affected system, but the incident shows that Web3 products have their own technical risks.

Source of the archive image: craft.co/okex.

App and customer support

The OKX app is available on iOS and Android. It combines deposits, spot, recurring purchases, Earn and Web3. Product availability changes when the account is Global or EEA.

Support is available through the help centre, chat and tickets. Complex compliance or withdrawal cases can require additional documents and may take longer than a basic support question.

Company details

EEA crypto services are provided by OKX Europe Limited, registration C88193. EEA X-Perps are provided by OKX Europe Markets Limited, registration C95813. Both companies use Piazzetta Business Plaza, Office No. 4, Floor 2, Triq Ghar Il-Lembi, Sliema SLM 1562, Malta.

Outside the EEA, the contracting company depends on the user’s residence and the current OKX terms. Check the legal entity shown during registration instead of assuming that the Maltese licence applies globally.

Conclusion of our OKX review

OKX is a strong option for users who want more than a simple place to buy cryptocurrency. Global accounts can combine competitive spot fees with a broad derivatives suite where permitted. EEA accounts now have regulated X-Perps, spot margin, the OKX Card, X-Drops and MiCA crypto services.

The most important weakness is regional complexity. A Global fee, licence or leverage limit cannot automatically be applied to a European account, and the reverse is also true. Leveraged products, Earn and Web3 require a clear understanding of additional risks.

Our rating is 4.4 out of 5. OKX scores well on trading tools, pricing and product range. It is best suited to users who verify their account entity and fees before activating advanced products.