Headquartered in Victoria, Seychelles, OKX is a global cryptocurrency exchange that enables people to buy, sell, and trade over 300 crypto assets across 180+ countries. While OKX offers a range of services to individual (also called retail) and institutional clients, its core offering is derivatives – products that allow people to speculate on crypto price movements without owning any.

The platform aims to simplify the complex crypto world for common people, while also ensuring that advanced users have all the tools and services they need to stay ahead. 

[Note: In February 2025, OKX paid over $500 million in penalties to the U.S. Department of Justice for unlicensed operations and Anti-Money Laundering (AML) violations.] 

OKX: Key Points

• Supports 300+ crypto assets, with trading in 90+ fiat currencies across 180+ countries
• Offers simple buys/sells, copy trading, spot trading, derivatives, staking, and Web3 tools
• Requires mandatory KYC verification for full access
• Maintains a reserve fund for losses and undergoes regular security audits
• Publishes monthly proof-of-reserves (POR), a verification method to prove enough asset holdings to cover all user deposits) reports 

History of OKX

OKX was founded in 2013 as OKCoin, a Bitcoin exchange established by entrepreneur Mingxing (Star) Xu in Beijing, China. While it grew rapidly, Chinese regulatory hurdles prompted a rebrand to OKEx and a relocation to Malta in 2017. It then expanded into complex financial products like perpetual swaps (a type of derivative) which became one of its hallmarks. 

The platform underwent another rebranding, this time to OKX, in 2022, foraying into the broader Web3 landscape, including decentralized finance (DeFi). In April 2025, OKX ventured into the United States, setting up a regional headquarters in San Jose, California. 

Some of its key milestones include acquiring 20 million users by 2023, and 50 million by 2024, boosted by global partnerships like its sponsorship of the Manchester City football club. 

On the regulatory front, OKX obtained the Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority in April 2024. A VASP license is a formal approval to legally offer crypto-related services in a specific region. 

Later, in January 2025, it received the Crypto Asset Service Provider (CASP) license from Europe’s Markets in Crypto-Assets Regulation (MiCA) framework, opening the doors to 400+ million potential users across the continent. A CASP license works quite like VASP, but under EU-wide rules, allowing compliant crypto operations across the member states.

As of October 2025, the platform is licensed to operate in several U.S. jurisdictions, and is separately registered as a Money Services Business with the U.S. Financial Crimes Enforcement Network (FinCEN). 

OKX: Functions and Services

• Buy and sell crypto: Designed for beginners, this service facilitates hassle-free buying and selling of over 300 cryptocurrencies using 90+ fiat (traditional) currencies. You can pay or withdraw via familiar options such as Mastercard, Visa, Apple Pay, G Pay, PayPal, and bank transfer, depending on your location.
• Spot trading: Ideal for starting-out traders, spot trading involves swapping between different crypto assets at the existing market price. OKX offers hundreds of crypto-to-crypto pairings.
• Derivatives trading: OKX’s key service, derivatives trading encompasses futures, perpetual swaps and options that allow traders to bet on future crypto prices without ownership. Users can avail up to 100x leverage ($100 exposure for every $1 invested) to pursue bigger gains. However, both losses and gains are equally amplified.
• Copy trading: Another feature tailored for beginners, this tool aids automatic mirroring of successful traders’ moves, eliminating the need for deep analysis. New traders get to take their time studying professionals and can build their strategies gradually.
• Trading bots: These automate trading strategies, without the need for regular manual intervention. For example, you can set up a bot to buy low and sell high across spot or futures markets. 
• Earn: The Earn feature creates passive income for users via different options like staking (locking up crypto for returns), ‘Simple Earn’ (for earning interest on idle assets), and more. 
• Lending: The loan option helps users avail of collateralized crypto loans in assets like Tether (USDT), USDC (USDC), Ethereum (ETH) and OKB (OKB), at Annual Percentage Rates (APRs) ranging from 1% to 2.5% (at the time of writing).

Please note, while OKX packs several products and services on its platform, not all may be available in your region. Please refer to your region-specific OKX portal to learn about supported offerings.

Is OKX safe to use in 2025? 

The OKX exchange is generally considered a secure environment for trading crypto assets. It holds several technical defenses, including keeping over 95% funds in cold storage (offline wallets), compulsory two-factor authentication (2FA), and real-time monitoring of suspicious activity. 

OKX publishes monthly PoR reports, enabling users to verify the 1:1 backing of their deposits. Independent audits by agencies such as Hacken and CertiK (AA rating) confirm no noteworthy discrepancies in reserves. It also maintains a Risk Shield fund as a buffer to cover incidental losses. So far (at the time of writing), OKX hasn’t been hit by any catastrophic hack or breach.

That said, in February 2025, the platform had to cough up over $500 million in penalties to the United States Department of Justice (DoJ) for AML lapses. These stemmed from unlicensed operations, potentially putting users at risk of account restrictions or freezes. 

Overall, even though OKX is safer than many exchanges, especially unregulated wildcards, users should consider enabling all security features and be aware of regulatory risks, especially in uncertain markets.

OKX FAQs

What are the fees charged by OKX?

OKX levies 0.08%/0.1% fees on spot trades, lowering with volume. Futures trades attract 0.02%/0.05% fees. Deposits are free, while crypto withdrawals involve network charges. Cash withdrawals, where available, may involve fees depending on the method and country. 

Does OKX have a mobile app?

Yes, OKX offers mobile apps for both Android and iOS devices. These apps make buying, selling, trading and managing crypto assets convenient while on the move.

How do I sign up with OKX?

Access the ‘Sign Up’ option on the OKX website or mobile app. Enter your email id and verify the 6-digit code sent to your inbox. Verify your mobile number, set a strong password, and complete the KYC identity verification to access the platform’s complete range of services in your region.

Can I use OKX in the United States?

Yes, OKX is available in the United States and has its regional headquarters in San Jose, California. However, access may vary by jurisdiction. 

Is it safe to keep all my crypto on OKX?

While OKX implements strong security protocols, you may want to use hardware or self-custody wallets for large and/or long-term crypto holdings.